<SEC-DOCUMENT>0001057861-15-000006.txt : 20160725
<SEC-HEADER>0001057861-15-000006.hdr.sgml : 20160725

<ACCEPTANCE-DATETIME>20150529145302

<PRIVATE-TO-PUBLIC>

ACCESSION NUMBER:		0001057861-15-000006

CONFORMED SUBMISSION TYPE:	N-CSR

PUBLIC DOCUMENT COUNT:		12

CONFORMED PERIOD OF REPORT:	20150331

FILED AS OF DATE:		20150529

DATE AS OF CHANGE:		20160629

EFFECTIVENESS DATE:		20150529


FILER:


	COMPANY DATA:	

		COMPANY CONFORMED NAME:			DREYFUS HIGH YIELD STRATEGIES FUND

		CENTRAL INDEX KEY:			0001057861

		IRS NUMBER:				134001109

		STATE OF INCORPORATION:			MA

		FISCAL YEAR END:			1231



	FILING VALUES:

		FORM TYPE:		N-CSR

		SEC ACT:		1940 Act

		SEC FILE NUMBER:	811-08703

		FILM NUMBER:		15898949



	BUSINESS ADDRESS:	

		STREET 1:		200 PARK AVENUE, 8TH FLOOR

		STREET 2:		THE DREYFUS CORPORATION

		CITY:			NEW YORK

		STATE:			NY

		ZIP:			10166

		BUSINESS PHONE:		2129226789



	MAIL ADDRESS:	

		STREET 1:		200 PARK AVENUE

		STREET 2:		THE DREYFUS CORPORATION

		CITY:			NEW YORK

		STATE:			NY

		ZIP:			10166



</SEC-HEADER>

<DOCUMENT>
<TYPE>N-CSR
<SEQUENCE>1
<FILENAME>lp1-430.htm
<DESCRIPTION>ANNUAL REPORT
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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:24.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
  Washington, D.C.&#160; 20549</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">FORM N-CSR</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">CERTIFIED SHAREHOLDER
REPORT OF REGISTERED MANAGEMENT<br>
INVESTMENT COMPANIES</font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:638.000000pt;">
 <tr>
  <td colspan=3 valign=top width=42% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Investment Company Act file
  number</font></p>
  </td>
 <td colspan=4 valign=top width=58% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">811-08703</font></p>
  </td>
 </tr>
<tr>
  <td colspan=3 valign=top width=42% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=4 valign=top width=58% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">Dreyfus High Yield Strategies Fund</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">(Exact name of Registrant as specified in charter)</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">c/o The Dreyfus Corporation</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">200 Park Avenue</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">New York, New York  10166</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">(Address of principal executive offices)        (Zip
  code)</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">John Pak, Esq.</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">200 Park Avenue</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">New York, New York  10166</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=5 valign=top width=84% style="padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:11.0pt;">(Name and address of agent for service)</font></p>
  </td>
 <td valign=top width=8% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=7 valign=top width=100% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=4 valign=top width=55% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Registrant's telephone
  number, including area code:  </font></p>
  </td>
 <td colspan=3 valign=top width=45% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">(212) 922-6000</font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=5 valign=top width=58% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=2 width=42% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=28% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date of fiscal year end:</font></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
  </td>
 <td colspan=3 valign=top width=30% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">3/31</font></p>
  </td>
 <td colspan=2 width=42% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=2 valign=top width=28% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">Date of reporting period:</font></p>
  </td>
 <td colspan=3 valign=top width=30% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:11.0pt;">3/31/15</font></p>
  </td>
 <td colspan=2 width=42% style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p></td>
 </tr>
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  <td width=8%>&nbsp;</td>
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 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>









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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">FORM N-CSR</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reports to Stockholders.</FONT></B></P>

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<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=6 face=Interstate-Light,Arial,Helvetica,sans-serif>Dreyfus</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=6 face=Interstate-Light,Arial,Helvetica,sans-serif>High Yield</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=6 face=Interstate-Light,Arial,Helvetica,sans-serif>Strategies Fund</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>
<IMG border=0 src="hysncsrx1x1.jpg"> <BR></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=3 face="Bembo-Bold,Times New Roman,Times,serif">Dreyfus High Yield Strategies Fund</FONT></B><BR><BR><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Protecting Your Privacy</FONT></B></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Our Pledge to You</FONT></B></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">THE FUND IS COMMITTED TO YOUR PRIVACY. </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">On</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">this page, you will find the Fund&#8217;s policies and practices for</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">collecting, disclosing, and safeguarding &#8220;nonpublic personal</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">information,&#8221; which may include financial or other customer</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">information.These policies apply to individuals who purchase Fund</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">shares for personal, family, or household purposes, or have done so in</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">the past. This notification replaces all previous statements of the</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Fund&#8217;s consumer privacy policy, and may be amended at any time.</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">We&#8217;ll keep you informed of changes as required by law.</FONT><BR><BR><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">YOUR ACCOUNT IS PROVIDED IN A SECURE</FONT></B><BR><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">ENVIRONMENT. </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Fund maintains physical, electronic and</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">procedural safeguards that comply with federal regulations to guard</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">nonpublic personal information. The Fund&#8217;s agents and service</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">providers have limited access to customer information based on their</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">role in servicing your account.</FONT><BR><BR><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">THE FUND COLLECTS INFORMATION IN ORDER</FONT></B><BR><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">TO SERVICE AND ADMINISTER YOUR ACCOUNT.</FONT></B><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Fund collects a variety of nonpublic personal information,</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">which may include:</FONT></P>
<UL>

<LI>

<P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Information we receive from you, such as your name, address, and</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">social security number.</FONT></P>

<LI>

<P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Information about your transactions with us, such as the</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">purchase or sale of Fund shares.</FONT></P>

<LI>

<P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Information we receive from agents and service providers, such</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">as proxy voting information.</FONT></P></LI></UL>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">THE FUND DOES NOT SHARE NONPUBLIC</FONT></B><BR><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">PERSONAL INFORMATION WITH ANYONE, EXCEPT</FONT></B><BR><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">AS PERMITTED BY LAW.</FONT></B><BR><BR><B><I><FONT color=#141414 size=2 face="Bembo-BoldItalic,Times New Roman,Times,serif">Thank you for this opportunity to serve you.</FONT></I></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The views expressed in this report reflect those of the portfolio manager only through the end of the period covered and do not necessarily represent the views of Dreyfus or any other person in the Dreyfus organization. Any such views are subject to change at any time based upon market or other conditions and Dreyfus disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Dreyfus fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Dreyfus fund.</FONT></P>

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   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Not FDIC-Insured &#8226; Not Bank-Guaranteed &#8226; May Lose Value</FONT>&nbsp;</TD></TR></TABLE></DIV>

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   <TD width="90%">

   <P align=justify><FONT color=#141414 size=7 face=Interstate-Light,Arial,Helvetica,sans-serif>Contents</FONT></P></TD></TR>

<TR>

   <TD width="10%">&nbsp;</TD>

   <TD width="90%">

   <P align=justify><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>THE FUND</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>2</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">A Letter from the President</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>3</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Discussion of Fund Performance</FONT></P></TD></TR>

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   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>6</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Selected Information</FONT></P></TD></TR>

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   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>7</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Statement of Investments</FONT></P></TD></TR>

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   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>20</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Statement of Assets and Liabilities</FONT></P></TD></TR>

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   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>21</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Statement of Operations</FONT></P></TD></TR>

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   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>22</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Statement of Cash Flows</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>23</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Statement of Changes in Net Assets</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>24</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Financial Highlights</FONT></P></TD></TR>

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   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>25</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Notes to Financial Statements</FONT></P></TD></TR>

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   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>37</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Report of Independent Registered Public Accounting Firm</FONT></P></TD></TR>

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   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>38</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Additional Information</FONT></P></TD></TR>

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   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>45</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Important Tax Information</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>45</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Proxy Results</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>46</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Information About the Renewal of the Fund&#8217;s Management Agreement</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>51</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Board Members Information</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>53</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Officers of the Fund</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%" noWrap align=right><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>57</FONT></B>&nbsp; &nbsp; &nbsp; </TD>

   <TD width="98%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Officers and Trustees</FONT></P></TD></TR>

<TR>

   <TD width="10%">&nbsp;</TD>

   <TD width="90%">

   <P align=justify><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>FOR MORE INFORMATION</FONT></P></TD></TR>

<TR>

   <TD width="10%">&nbsp;</TD>

   <TD width="90%">

   <P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Back Cover</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>Dreyfus High Yield</FONT><BR><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>Strategies Fund</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=7 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>A LETTER FROM THE PRESIDENT</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Dear Shareholder:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">This annual report for Dreyfus High Yield Strategies Fund covers the 12-month period from April 1, 2014, through March 31, 2015. For information about how the fund performed during the reporting period, as well as general market perspectives, we provide a Discussion of Fund Performance on the pages that follow.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">High yield bonds generally experienced heightened levels of volatility during the reporting period, especially over the second half of 2014. Developments in global markets &#8212; including plummeting oil prices and ongoing economic concerns in Europe, Japan, and China &#8212; sparked a flight to quality among investors. Many investors turned toward U.S. Treasury securities and other traditional safe havens, putting downward pressure on prices of riskier corporate-backed bonds despite the sound underlying business fundamentals of most U.S. companies. This trend began to reverse over the first quarter of 2015, enabling high yield bonds to produce mildly positive absolute returns over the reporting overall.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">We remain optimistic regarding the long-term outlook for the U.S. economy generally, and the high yield asset class in particular.We believe the domestic economic recovery has continued at a sustainable pace, energy prices appear to have stabilized, and aggressively accommodative monetary policies from the world&#8217;s major central banks seem likely to address global economic weakness. Meanwhile, corporate earnings and balance sheets have remained healthy, and high yield default rates have stayed low. As always, we urge you to discuss these observations with your financial advisor, who can help you assess their implications for your investment portfolio.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Thank you for your continued confidence and support.</FONT></P>
<IMG border=0 src="hysncsrx4x1.jpg"> <BR>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">J. Charles Cardona</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">President</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Dreyfus Corporation</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">April 15, 2015</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>2</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>DISCUSSION OF FUND PERFORMANCE</FONT></P>

<P style="TEXT-ALIGN: left"><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">For the period of April 1, 2014, through March 31, 2015, as provided by Chris Barris, Portfolio Manager</FONT></I></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>Fund and Market Performance Overview</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">For the 12-month period ended March 31, 2015, Dreyfus High Yield Strategies Fund produced a total return of 2.38% (on a net asset value basis) and provided aggregate income dividends of $0.360 per share.</FONT><SUP><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">1 </FONT></SUP><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">In comparison, the BofA Merrill Lynch U.S. HighYield Master II Constrained Index (the &#8220;Index&#8221;), the fund&#8217;s benchmark, achieved a total return of 2.06% for the same period.</FONT><SUP><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">2</FONT></SUP></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">A sustained U.S. economic recovery persisted throughout the reporting period, but economic and geopolitical turmoil in overseas markets sparked a &#8220;flight to quality&#8221; during the fall of 2014. Investors shifted their focus to traditional safe havens, creating selling pressure in the high yield bond market.The fund outperformed its benchmark, mainly due to the success of our asset allocation and security selection strategies.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>The Fund&#8217;s Investment Approach</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The fund primarily seeks high current income. The fund also seeks capital growth as a secondary objective, to the extent consistent with its objective of seeking high current income. The fund invests primarily in fixed-income securities of below-investment-grade credit quality. Issuers of below-investment-grade securities may include companies in early stages of development and companies with a highly leveraged financial structure.To compensate investors for taking on greater risk, such companies typically must offer higher yields than those offered by more established or conservatively financed companies.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>&#8220;Flight to Quality&#8221; Influenced Market Performance</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">By the start of the reporting period, renewed global economic concerns had caused yields of long-term U.S.Treasury securities to moderate from multi-year highs, and the Federal Reserve Board added a note of caution by making clear that short-term interest rates were likely to remain near historically low levels until domestic data improved further. Nonetheless, the U.S. economy continued to recover during the second quarter of 2014, as labor markets strengthened, manufacturing activity intensified, and corporate earnings grew. While long-term interest rates typically rise during economic rebounds, robust investor demand for a relatively limited sup-</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>3</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>DISCUSSION OF FUND PERFORMANCE </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">ply of U.S. Treasury securities kept rates low. Demand was especially strong from global investors seeking more competitive yields than were available from high-quality sovereign bonds in Europe and Japan.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">High yield bonds fared relatively well in this environment as underlying credit fundamentals improved and income-oriented investors felt more comfortable reaching for higher yields from lower-rated bonds. However, high yield market sentiment changed markedly during the fall.The U.S. economy continued to gain momentum during the third quarter of 2014, but persistent economic weakness in Europe and Japan caused investors to shift to a more defensive posture during the fourth quarter. Assets flowed away from riskier assets toward higher quality investments, putting downward pressure on high yield bond prices.The flight to quality intensified when prices of oil and other commodities plummeted, especially hurting high yield bond prices in the energy sector.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The market downturn proved relatively short-lived. High yield bond prices bounced back over the first quarter of 2015 as global economic concerns eased, enabling the Index to end the reporting period in positive territory.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>Allocation and Selection Strategies Buoyed Fund Results</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Our sector allocation strategy worked well during the reporting period, helping to support the fund&#8217;s performance compared to its benchmark. Overweighted exposure to the paper-and-packaging industry group and an underweighted position in the energy and metals-and-mining segments proved especially effective. Our security selection strategy also added value, mainly due to strong results from individual securities in the metals-and-mining, gaming, and information technology industry groups.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Strength in these areas was offset to a degree by shortfalls in other strategies. Most notably, our emphasis on bonds generating high levels of current income led us to higher coupon securities with relative short durations, which tend to be less sensitive to changes in interest rates. This positioning prevented the fund from participating more fully in the benefits of falling long-term interest rates.An underweighted position and disappointing security selections in the utilities sector also dampened the fund&#8217;s relative results to a degree.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>Maintaining a Constructive Investment Posture</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The U.S. economic recovery has continued despite global headwinds, fostering an environment that we expect to remain supportive of companies with leveraged capital structures. Although some high yield issuers remain vulnerable to low energy</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>4</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">and commodity prices, many others appear poised to prosper in the recovering economy. In addition, corporate balance sheets generally have remained healthy, and high yield default rates have stayed near historically low levels.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">In this environment, our longstanding, bottom-up security selection process has identified a number of opportunities meeting our investment criteria among high yield bonds in the &#8220;single-B&#8221; and &#8220;triple-C&#8221; credit-rating categories. From a market sector perspective, the fund ended the reporting period with overweighted exposure to bonds backed by paper-and-packaging companies and underweighted positions in the energy and metals-and-mining industries.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">April 15, 2015</FONT></P>

<P style="TEXT-ALIGN: left"><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Bond funds are subject generally to interest rate, credit, liquidity, and market risks, to varying degrees. Generally, all other factors being equal, bond prices are inversely related to interest-rate changes and rate increases can cause price declines. High yield bonds are subject to increased credit risk and are considered speculative in terms of the issuer&#8217;s perceived ability to continue making interest payments on a timely basis and to repay principal upon maturity.The use of leverage may magnify the fund&#8217;s gains or losses. For derivatives with a leveraging component, adverse changes in the value or level of the underlying asset can result in a loss that is much greater than the original investment in the derivative.</FONT></I></P>

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   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">1 Total return includes reinvestment of dividends and any capital gains paid, based upon net asset value per share. Past</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">performance is no guarantee of future results. Share price, yield, and investment return fluctuate such that upon</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">redemption, fund shares may be worth more or less than their original cost. Return figure provided reflects the</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">absorption of certain fund expenses by The Dreyfus Corporation during the period. Had these expenses not been</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">absorbed, the fund&#8217;s return would have been lower.</FONT></I>&nbsp;</TD></TR>

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   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">2 SOURCE: FACTSET &#8212; Reflects reinvestment of dividends and, where applicable, capital gain distributions. On</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">September 25, 2009, the Merrill Lynch U.S. HighYield Master II Constrained Index was renamed the BofA</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Merrill Lynch U.S. HighYield Master II Constrained Index (the &#8220;Index&#8221;).The Index is an unmanaged</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">performance benchmark composed of U.S. dollar-denominated domestic andYankee bonds rated below investment</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">grade with at least $100 million par amount outstanding and at least one year remaining to maturity. Bonds are</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">capitalization-weighted.Total allocations to an issuer are capped at 2%. Investors cannot invest directly in any index.</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">On July 23, 2014, the Board of Trustees of the fund approved a revised Investment Management and</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Administration Agreement between the fund and The Dreyfus Corporation, the fund&#8217;s investment adviser</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(&#8220;Dreyfus&#8221;), to reflect a reduction to the investment management and administration fee of the fund, effective August</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">1, 2014.The investment management and administration fee had been computed at the annual rate of .90% of the</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">value of the fund&#8217;s average weekly total assets minus the sum of accrued liabilities (other than the aggregate</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">indebtedness constituting financial leverage) (the &#8220;Managed Assets&#8221;) and, effective August 1, 2014, the investment</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">management and administration fee is computed at the annual rate of .75% of the value of the fund&#8217;s Managed</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Assets. Dreyfus had been waiving receipt of a portion of the fund&#8217;s investment management and administration fee in</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">the amount of .15% of the Managed Assets but, in light of the reduction of the investment management and</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">administration fee, that waiver was terminated, effective August 1, 2014.</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>5</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<!--$$/page=--><A name="page_10"></A><BR>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>SELECTED INFORMATION</FONT><BR><BR><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>March 31, 2015 (Unaudited)</FONT></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="66%"></TD>

   <TD width="6%"></TD>

   <TD width="27%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Market Price per share March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif></FONT></TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>$3.65</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Shares Outstanding March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>72,642,245</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>New York Stock Exchange Ticker Symbol</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>DHF</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>MARKET PRICE (NEW YORK STOCK EXCHANGE)</FONT></B></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="9%"></TD>

   <TD width="4%"></TD>

   <TD width="20%"></TD>

   <TD width="4%"></TD>

   <TD width="18%"></TD>

   <TD width="4%"></TD>

   <TD width="18%"></TD>

   <TD width="4%"></TD>

   <TD width="16%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0.953pt" bgColor=#e8e8e8 colSpan=3 align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Fiscal Year Ended March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>Quarter Ended</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>Quarter Ended</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>Quarter Ended</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>Quarter Ended</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>June 30,</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>September 30,</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>December 31,</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>March 31,</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>2014</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>2014</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>2014</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>2015</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>High</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif></FONT></TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>$4.35</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif></FONT></TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>$4.33</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif></FONT></TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>$4.06</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif></FONT></TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>$3.74</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Low</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.66</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.44</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.56</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Close</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.34</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.70</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.61</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.65</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>PERCENTAGE GAIN (LOSS) </FONT></B><FONT color=#141414 size=2 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>based on change in Market Price</FONT><SUP><FONT color=#141414 size=2 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8224;</FONT></SUP></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="80%"></TD>

   <TD width="15%"></TD>

   <TD width="4%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>April 29, 1998 (commencement of operations) through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>78.64</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>%</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>April 1, 2005 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>133.11</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>April 1, 2010 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>43.05</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>April 1, 2014 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(4.51</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>July 1, 2014 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(9.93</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>October 1, 2014 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.28</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>January 1, 2015 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2.71</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>NET ASSET VALUE PER SHARE</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 448px; HEIGHT: 181px" border=0 cellSpacing=0>



<TR>

   <TD width="74%"></TD>

   <TD width="6%"></TD>

   <TD width="18%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>April 29, 1998 (commencement of operations)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif></FONT></TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>$15.00</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>March 31, 2014</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.11</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>June 30, 2014</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.12</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>September 30, 2014</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.92</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>December 31, 2014</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.77</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.84</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>PERCENTAGE GAIN (LOSS) </FONT></B><FONT color=#141414 size=2 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>based on change in Net Asset Value</FONT><SUP><FONT color=#141414 size=2 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8224;</FONT></SUP></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="80%"></TD>

   <TD width="15%"></TD>

   <TD width="4%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>April 29, 1998 (commencement of operations) through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>87.87</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>%</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>April 1, 2005 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>130.98</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>April 1, 2010 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>60.03</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>April 1, 2014 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2.38</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>July 1, 2014 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(0.22</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>October 1, 2014 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2.52</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>January 1, 2015 through March 31, 2015</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.43</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="6%"></TD>

   <TD width="93%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><SUP><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">&#8224;</FONT></SUP></I>&nbsp;</TD>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">With dividends reinvested.</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>6</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
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<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>March 31, 2015</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="33%"></TD>

   <TD width="7%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes&#8212;136.2%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Casinos&#8212;8.3%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>AMC Entertaiment,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,715,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,081,856</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Boyd Gaming,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,430,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,547,975</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cleopatra Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,370,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,322,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>MGM Resorts International,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>740,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>835,275</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>MGM Resorts International,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/1/16</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,370,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,636,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>MGM Resorts International,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/1/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,940,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,767,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Pinnacle Entertainment,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,695,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,796,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Pinnacle Entertainment,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,095,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,156,594</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scientific Games International,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,225,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,971,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>23,116,525</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Consumer Discretionary&#8212;21.3%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Accudyne Industries,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,340,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,202,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>AMC Networks,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,215,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,324,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cablevision Systems,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>555,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>629,925</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cablevision Systems,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9/15/17</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,675,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,016,062</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>CCO Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/31/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,445,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,549,762</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>CCO Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/30/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,350,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,414,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Chrysler Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,660,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,077,643</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cirsa Funding Luxembourg,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EUR</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>195,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>215,963</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Clear Channel Worldwide</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes, Ser. B</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,475,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,674,812</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>7</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<!--$$/page=--><A name="page_12"></A><BR>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="40%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="5%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Consumer Discretionary (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>CSC Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,000,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,131,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cumulus Media Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,765,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,736,319</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>DriveTime Automotive Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,185,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,134,637</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Family Tree Escrow,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/1/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,360,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,438,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ferrellgas Partners,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,785,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,889,437</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Goodyear Tire &amp; Rubber,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,450,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,540,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gray Television,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>975,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,031,062</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Hillman Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,265,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,271,325</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>iHeartCommunications,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,865,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,853,344</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>iHeartCommunications,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>675,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>648,844</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>iHeartCommunications,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>14.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,108,645</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>885,530</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>MPG Holding Company,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,730,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,857,588</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Neiman Marcus Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>970,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,033,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Neiman Marcus Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>965,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,027,725</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>New Look Bondco I,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/14/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>995,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,042,262</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Nexstar Broadcasting,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,615,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,711,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>RCN Telecom Services,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,705,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,815,825</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Rite Aid,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,860,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,987,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Schaeffler Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/15/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>480,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>486,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Schaeffler Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/17</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>390,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>437,775</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>8</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
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<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="33%"></TD>

   <TD width="7%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 6.143pt" bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Consumer Discretionary (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Schaeffler Holding Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>610,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>661,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Shea Homes Funding,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>685,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>700,413</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Shea Homes Funding,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>490,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>496,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Standard Pacific,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,025,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,323,688</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>StoneMor Partners,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,540,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,624,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Taylor Morrison Communities,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>430,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>457,950</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Taylor Morrison Communities,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,305,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,454,825</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Townsquare Radio,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,485,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,651,768</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Wave Holdco,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,125,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,157,344</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>William Lyon Homes,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,585,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,811,188</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>59,405,716</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Consumer Staples&#8212;3.0%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Albea Beauty Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,890,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,036,475</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Bakkavor Finance 2,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>GBP</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>975,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,590,939</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Pinnacle Operating,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>985,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>997,313</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Post Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,035,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,111,313</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>RSI Home Products,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/15/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,460,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,492,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>8,228,890</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Energy&#8212;7.4%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Bonanza Creek Energy,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,985,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,940,337</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Carrizo Oil &amp; Gas,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,920,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,982,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Crestwood Midstream Partners,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>710,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>718,875</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>9</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<!--$$/page=--><A name="page_14"></A><BR>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="33%"></TD>

   <TD width="7%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Energy (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Diamondback Energy,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,755,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,855,912</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EP Energy Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd.Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,200,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,315,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Forum Energy Technologies,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,465,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,380,762</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Halcon Resources,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,820,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,002,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Jones Energy Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,125,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,057,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Laredo Petroleum,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,000,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,095,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Murray Energy,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,250,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,312,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Newfield Exploration,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Sub. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>790,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>818,006</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Northern Oil and Gas,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,955,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,744,838</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sanchez Energy,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>205,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>185,269</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sanchez Energy,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,410,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,374,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>20,783,849</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Financial&#8212;16.4%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ahern Rentals,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,950,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,074,312</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Aircastle,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>475,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>506,469</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ally Financial,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/1/31</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,630,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,043,612</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Argos Merger Sub,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/15/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,645,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,747,494</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ashton Woods USA/Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,915,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,747,437</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cabot Financial,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,000,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,521,398</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Consolidated Energy Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,446,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,464,075</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Deutsche Bank,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Jr. Sub. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>GBP</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/30/49</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>700,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,041,361</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>10</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
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<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="33%"></TD>

   <TD width="7%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Financial (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Hub Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,915,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,910,212</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>HUB International,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,175,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,207,312</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>International Lease Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,195,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,897,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>International Lease Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,255,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,595,419</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>International Lease Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9/1/17</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,675,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,896,938</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Jurassic Holdings III,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,275,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,990,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>KCG Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,175,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,149,150</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Lloyds Bank,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sub. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>GBP</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/16/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,385,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,074,273</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Lloyds Bank,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sub. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EUR</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/16/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>690,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>878,393</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Lloyds Banking Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Jr. Sub. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.66</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/29/49</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>820,000</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c,d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>936,850</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Lloyds Banking Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Jr. Sub. Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/30/49</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,022,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,088,430</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Lowell Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>GBP</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>450,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>727,604</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Navient,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/25/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>940,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,045,844</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Navient,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.45</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,675,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,975,938</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Provident Funding Associates,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,205,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,153,788</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Royal Bank of Scotland,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sub. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/16/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,530,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,728,794</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>USI,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,355,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,425,650</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>York Risk Services Holding,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,930,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,831,088</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>45,660,366</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Health Care&#8212;14.2%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Auris Luxembourg II,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EUR</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>530,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>618,354</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>11</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<!--$$/page=--><A name="page_16"></A><BR>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="32%"></TD>

   <TD width="8%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Health Care (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Auris Luxembourg II,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EUR</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,165,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,359,213</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Capsugel,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,775,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,807,172</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>CHS/Community Health Systems,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,675,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,798,531</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>CHS/Community Health Systems,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,900,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,023,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>ConvaTec Finance International,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,615,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,636,197</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>HCA,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5,470,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6,393,062</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>IASIS Healthcare,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,405,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,464,713</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Kindred Healthcare,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,120,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,135,400</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Kindred Healthcare,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,975,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,272,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Physio-Control International,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,971,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,104,043</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>STHI Holding,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,940,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,015,175</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Surgical Care Affiliates,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,235,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,250,438</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Tenet Healthcare,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5,355,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5,917,275</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>United Surgical Partners</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>International, Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,130,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,297,738</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Valeant Pharmaceuticals</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>International, Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/1/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>395,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>399,938</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Valeant Pharmaceuticals</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>International, Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,105,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,158,869</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Valeant Pharmaceuticals</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>International, Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,050,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,224,886</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>VRX Escrow,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/15/25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>880,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>913,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>39,790,004</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>12</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
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<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="30%"></TD>

   <TD width="10%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="5%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Industrial&#8212;18.2%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>AA Bond,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>GBP</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/31/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>490,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>808,635</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Abengoa Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EUR</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/5/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,585,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,894,165</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Acosta,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,735,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,834,144</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>ADS Waste Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,930,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,076,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Algeco Scotsman</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Global Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,150,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,145,687</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Algeco Scotsman</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Global Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EUR</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>610,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>655,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Algeco Scotsman</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Global Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,625,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,340,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cemex Espana,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/30/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>725,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>810,187</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cemex,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,795,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,999,630</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Galapagos Holding,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 2pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EUR</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>700,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>728,210</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gardner Denver,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,910,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,728,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gates Global,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,855,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,759,931</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>HD Supply,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,250,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,612,812</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Interline Brands,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,890,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,989,225</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>JLL/Delta Dutch Newco,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,990,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,077,063</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Manitowoc,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,100,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,332,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Marquette Transportation Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/17</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,775,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,875,594</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>13</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<!--$$/page=--><A name="page_18"></A><BR>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="13%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Industrial (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Mobile Mini,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>945,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,001,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Navios Maritime Acquisition,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,690,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,706,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Navios Maritime Holdings Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>690,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>646,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Navios South American Logistics,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,725,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,679,719</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Nortek,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,570,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,687,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Nortek,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/1/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>275,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>291,775</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Reliance Intermediate Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,508,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,547,585</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>ServiceMaster,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>659,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>703,483</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>ServiceMaster,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>913,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>967,780</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>TransDigm,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/24</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,700,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,717,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>TransUnion Holding,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,915,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,937,741</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>United Rentals North America,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>970,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>990,613</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>United Rentals North America,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,900,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,043,545</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Zachry Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,335,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,274,925</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>50,866,749</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Information Technology&#8212;7.7%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Alcatel-Lucent USA,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>805,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>861,350</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Amkor Technology,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>630,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>652,050</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>CDW Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,486,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,549,155</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Eagle Midco,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>455,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>465,237</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>14</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
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<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="31%"></TD>

   <TD width="9%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Information Technology (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Epicor Software,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,565,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,693,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>First Data,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,636,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,758,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>First Data,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>145,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>165,662</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>First Data,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,782,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5,553,097</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Infor Software Parent,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,280,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,272,397</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Infor US,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,675,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,871,746</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Project Homestake Merger,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/1/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,345,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,351,725</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sophia,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,553,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,671,416</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sophia Holding Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/1/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>760,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>770,450</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>21,636,235</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Materials&#8212;15.5%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>ArcelorMittal,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.60</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,323,000</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,076,906</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ardagh Finance Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,103,344</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,201,949</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ardagh Packaging Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,000,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,140,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ardagh Packaging Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EUR</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,625,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,878,320</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Axalta Coating Systems/Dutch,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,625,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,835,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>BWAY Holding,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,745,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,958,525</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Eco Services,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>720,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>730,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Edgen Murray,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,109,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,210,196</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>FMG Resources (August 2006),</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,030,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,753,412</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>15</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<!--$$/page=--><A name="page_20"></A><BR>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="13%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Materials (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Global Brass &amp; Copper,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,655,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,783,262</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Hexion U.S. Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>190,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>174,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Hexion U.S. Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/1/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,160,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,026,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Hexion U.S. Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>825,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>585,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Huntsman International,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,515,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,628,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>INEOS Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>305,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>322,919</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>INEOS Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,075,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,208,734</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Mercer International,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,270,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,352,550</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ply Gem Industries,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>435,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>415,425</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Reynolds Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,765,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,972,375</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ryerson,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/17</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,970,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,994,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sappi Papier Holding,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/17</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>730,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>795,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sappi Papier Holding,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,910,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,062,800</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sealed Air,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,030,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,163,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Signode Industrial Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,700,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,697,875</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>TPC Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,285,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,182,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>43,153,248</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Telecommunications&#8212;20.2%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Alcatel-Lucent USA,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Debs</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.45</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/15/29</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,295,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,329,425</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Altice,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>200,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>201,375</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>16</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<!--$$/page=--><A name="page_21"></A><BR>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="39%"></TD>

   <TD width="13%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="5%"></TD>

   <TD width="14%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Telecommunications (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Altice,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,330,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,375,144</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Altice Financing,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>905,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>936,675</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Altice Finco,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>210,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>216,300</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Altice Finco,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/24</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,150,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,222,594</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Altice Finco,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,100,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,223,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>CenturyLink,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes, Ser. W</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>12/1/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,900,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,204,500</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cincinnati Bell,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,025,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,095,469</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>CommScope Holdings,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,030,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,060,900</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>CPI International,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/15/18</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,355,000</FONT>&nbsp;</TD>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,393,956</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Digicel Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,425,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,307,437</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Digicel Group,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9/30/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,475,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,491,087</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>DISH DBS,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,450,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,615,375</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Eileme 2,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/31/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,900,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,285,120</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Frontier Communications,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>445,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>441,662</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Frontier Communications,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>295,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>303,112</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Frontier Communications,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,180,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,430,700</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Hughes Satellite Systems,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,010,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,218,537</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Intelsat Luxembourg,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,745,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,395,056</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Intelsat Luxembourg,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6/1/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>975,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>901,875</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>17</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<!--$$/page=--><A name="page_22"></A><BR>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF INVESTMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="32%"></TD>

   <TD width="8%"></TD>

   <TD width="11%"></TD>

   <TD width="14%"></TD>

   <TD width="13%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Telecommunications (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Level 3 Financing,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.13</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,000,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,053,750</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Level 3 Financing,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,430,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,645,663</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sable International Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,845,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,992,600</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sprint Capital,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/15/32</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>800,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>830,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sprint Communications,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Unscd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5,325,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6,456,563</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>T-Mobile USA,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/28/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,000,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,051,250</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>T-Mobile USA,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.84</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/28/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,940,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,049,125</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Wind Acquisition Finance,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/23/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,750,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,860,000</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Windstream,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/15/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>975,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,003,031</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Windstream,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/1/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>950,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>952,375</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>56,544,406</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Utilities&#8212;4.0%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Calpine,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.00</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>965,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,037,375</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Calpine,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1/15/23</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,095,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,325,869</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Dynegy Finance I/II,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.75</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/1/19</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>205,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>212,431</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Dynegy Finance I/II,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.38</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/1/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>575,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>606,625</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Dynegy Finance I/II,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.63</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11/1/24</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,895,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b,c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,992,119</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>NRG Energy,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>6.25</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7/15/22</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,010,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,042,825</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>NRG Energy,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5/15/21</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,540,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,663,200</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Techem Energy</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Metering Service &amp;</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Co., Gtd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EUR</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.88</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,435,000</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,712,705</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>18</FONT></B></P></DIV>

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<TR>

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   <TD width="8%"></TD>

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   <TD width="11%"></TD>

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   <TD width="4%"></TD>

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<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Coupon</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Maturity</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Principal</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=2 face=Interstate-Bold,Arial,Helvetica,sans-serif>Bonds and Notes (continued)</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=center><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Rate (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Date</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 9.957pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amount ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>a</FONT></SUP></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Utilities (continued)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Viridian Group Fundco II,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Sr. Scd. Notes</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>EUR</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7.50</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3/1/20</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>615,000</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>680,949</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>11,274,098</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Total Bonds and Notes</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(cost $374,911,972)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>380,460,086</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR>

   <TD bgColor=#e8e8e8 colSpan=8>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Preferred Stocks&#8212;1.0%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Shares</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Financial</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>GMAC Capital Trust I,</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ser. 2, 8.13%</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(cost $2,492,932)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>98,738</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>2,591,873</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR>

   <TD bgColor=#e8e8e8 colSpan=8>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Other Investment&#8212;5.4%</FONT></B>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Registered Investment Company;</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Dreyfus Institutional Preferred</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Plus Money Market Fund</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(cost $15,168,129)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>15,168,129</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>e</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>15,168,129</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Total Investments </FONT></B><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(cost $392,573,033)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>142.6</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>398,220,088</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Liabilities, Less Cash and Receivables</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(42.6</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>%)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(118,912,127</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Assets</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>100.0</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>%</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>279,307,961</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="99%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">a Principal amount stated in U.S. Dollars unless otherwise noted.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 9.999pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">EUR &#8212; Euro</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 9.999pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">GBP &#8212; British Pound</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">b Collateral for Revolving Credit and Security Agreement.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">c Securities exempt from registration pursuant to Rule 144A under the Securities Act of 1933.These securities may be</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">resold in transactions exempt from registration, normally to qualified institutional buyers.At March 31, 2015, these</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">securities were valued at $153,973,412 or 55.1% of net assets.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">d Variable rate security&#8212;interest rate subject to periodic change.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">e Investment in affiliated money market mutual fund.</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="32%"></TD>

   <TD width="16%"></TD>

   <TD width="30%"></TD>

   <TD width="19%"></TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.1pt" bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=2 face=Interstate-Light,Arial,Helvetica,sans-serif>Portfolio Summary (Unaudited)</FONT><SUP><FONT color=#141414 size=2 face=Interstate-Light,Arial,Helvetica,sans-serif>&#8224;</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value (%)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value (%)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.1pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Corporate Bonds</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>136.2</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Preferred Stocks</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.0</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0.1pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Money Market Investment</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5.4</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>142.6</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">&#8224; Based on net assets.</FONT></I>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">See notes to financial statements.</FONT></I>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>19</FONT></B></P></DIV>

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   <TD align=left><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF ASSETS AND LIABILITIES</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>March 31, 2015</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

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<TR>

   <TD width="59%"></TD>

   <TD width="20%"></TD>

   <TD width="15%"></TD>

   <TD width="4%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Cost</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Assets ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Investments in securities&#8212;See Statement of Investments:</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Unaffiliated issuers</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>377,404,904</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>383,051,959</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Affiliated issuers</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>15,168,129</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>15,168,129</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cash denominated in foreign currencies</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>956,988</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>897,141</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Dividends and interest receivable</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8,434,684</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Receivable for investment securities sold</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>96,230</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Prepaid expenses</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>278,171</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>407,926,314</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Liabilities ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Due to The Dreyfus Corporation and affiliates&#8212;Note 3(b)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>263,808</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Loan payable&#8212;Note 2</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>120,000,000</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Payable for investment securities purchased</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5,757,222</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Dividends payable</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,106,625</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Unrealized depreciation on forward foreign</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>currency exchange contracts&#8212;Note 4</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>259,067</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Interest and loan fees payable&#8212;Note 2</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>96,488</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Accrued expenses</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>135,143</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>128,618,353</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Assets ($)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>279,307,961</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Composition of Net Assets ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Paid-in capital</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>341,363,449</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Accumulated undistributed investment income&#8212;net</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>752,867</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Accumulated net realized gain (loss) on investments</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(68,102,673</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Accumulated net unrealized appreciation (depreciation)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>on investments and foreign currency transactions</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5,294,318</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Assets ($)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>279,307,961</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Shares Outstanding</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(unlimited number of $.001 par value shares of Beneficial Interest authorized)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>72,642,245</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Asset Value, </FONT></B><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>per share ($)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>3.84</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR>

   <TD colSpan=4>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">See notes to financial statements.</FONT></I>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>20</FONT></B></P></DIV>

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<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF OPERATIONS</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Year Ended March 31, 2015</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="79%"></TD>

   <TD width="15%"></TD>

   <TD width="4%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Investment Income ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Income:</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Interest</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>27,878,168</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cash dividends:</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Unaffiliated issuers</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>200,562</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Affiliated issuers</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,256</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Total Income</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>28,082,986</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Expenses:</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Management fee&#8212;Note 3(a)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,264,067</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Interest expense&#8212;Note 2</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,490,712</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Professional fees</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>159,323</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Registration fees</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>65,290</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Shareholders&#8217; reports</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>44,564</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Trustees&#8217; fees and expenses&#8212;Note 3(c)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>42,566</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Custodian fees&#8212;Note 3(b)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>36,736</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Shareholder servicing costs</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>19,396</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Miscellaneous</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>80,031</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Total Expenses</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>5,202,685</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Less&#8212;reduction in expenses due to undertaking&#8212;Note 3(a)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(209,259</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Expenses</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>4,993,426</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Investment Income&#8212;Net</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>23,089,560</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=2 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Realized and Unrealized Gain (Loss) on Investments&#8212;Note 4 ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net realized gain (loss) on investments and foreign currency transactions</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,945,568</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net realized gain (loss) on forward foreign currency exchange contracts</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,526,406</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Realized Gain (Loss)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>7,471,974</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net unrealized appreciation (depreciation) on</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>investments and foreign currency transactions</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(22,845,579</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net unrealized appreciation (depreciation) on</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>forward foreign currency exchange contracts</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(473,294</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Unrealized Appreciation (Depreciation)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(23,318,873</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Realized and Unrealized Gain (Loss) on Investments</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(15,846,899</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Increase in Net Assets Resulting from Operations</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>7,242,661</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR>

   <TD colSpan=3>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">See notes to financial statements.</FONT></I>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>21</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
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<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF CASH FLOWS</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Year Ended March 31, 2015</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="61%"></TD>

   <TD width="15%"></TD>

   <TD width="3%"></TD>

   <TD width="15%"></TD>

   <TD width="3%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Cash Flows from Operating Activities ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Purchases of portfolio securities</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(192,161,555</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net purchases of short-term securities</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(13,056,609</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Proceeds from sales of portfolio securities</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>201,054,230</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Interest received</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>31,291,245</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Dividends received</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>203,888</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Interest and loan fees paid</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(1,489,026</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Operating expenses paid</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(496,308</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Paid to The Dreyfus Corporation</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(3,066,512</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Realized gain from foreign exchange contracts transactions</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,526,406</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Cash Provided by Operating Activities</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>26,805,759</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Cash Flows from Financing Activities ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Dividends paid</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(26,061,719</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Increase in loan oustanding</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Cash Used in Financing Activities</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(26,061,719</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net increase in cash</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>744,040</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Cash at beginning of period</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>153,101</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Cash and cash denominated in foreign currencies at end of period</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>897,141</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Reconciliation of Net Increase in Net Assets Resulting from</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 colSpan=2 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Operations to Net Cash Provided by Operating Activities ($):</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net Increase in Net Assets Resulting from Operations</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7,242,661</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Adjustments to reconcile net increase in net assets resulting</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>from operations to net cash used by operating activities ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Purchases of portfolio securities</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(192,161,555</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Proceeds from sales of portfolio securities</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>201,054,230</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net purchases of short-term securities</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(13,056,609</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Decrease in dividends and interest receivable</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>446,897</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Increase in interest and loan fees payable</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,686</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Decrease in accrued operating expenses</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(41,340</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Decrease in Due to The Dreyfus Corporation and affiliates</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(19,663</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Decrease in prepaid expenses</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>897</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net realized gain on investments and foreign currency transactions</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(7,471,974</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net unrealized depreciation on investments and</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>foreign currency transactions</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>23,318,873</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net amortization of premiums on investments</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,965,250</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Realized gain from foreign exchange contracts transactions</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,526,406</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Cash Provided by Operating Activities</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>26,805,759</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Supplemental disclosure of cash flow information ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Non-cash financing activities:</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Reinvestment of dividends</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>296,797</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR>

   <TD colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">See notes to financial statements.</FONT></I>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>22</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<!--$$/page=--><A name="page_27"></A><BR>

<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>STATEMENT OF CHANGES IN NET ASSETS</FONT></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="46%"></TD>

   <TD width="20%"></TD>

   <TD width="4%"></TD>

   <TD width="24%"></TD>

   <TD width="4%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Year Ended March 31,</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>2015</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>2014</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Operations ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Investment income&#8212;net</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>23,089,560</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>25,800,716</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net realized gain (loss) on investments</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>7,471,974</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,677,621</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net unrealized appreciation</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(depreciation) on investments</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(23,318,873</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(506,914</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Increase (Decrease) in Net Assets</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Resulting from Operations</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>7,242,661</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>28,971,423</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Dividends to Shareholders from ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Investment income&#8212;net</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(26,142,930</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(28,715,087</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Beneficial Interest Transactions ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Dividends reinvested</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>296,797</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>445,417</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Total Increase (Decrease) in Net Assets</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(18,603,472</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>701,753</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Net Assets ($):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Beginning of Period</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>297,911,433</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>297,209,680</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>End of Period</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>279,307,961</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>297,911,433</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Undistributed investment income&#8212;net</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>752,867</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>706,713</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Capital Share Transactions (Shares):</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Shares issued for dividends reinvested</FONT></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>73,185</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>109,461</FONT></B></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR>

   <TD colSpan=5>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">See notes to financial statements.</FONT></I>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>23</FONT></B></P></DIV>

<HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div>
<!--$$/page=--><A name="page_28"></A><BR>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>FINANCIAL HIGHLIGHTS</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The following table describes the performance for the fiscal periods indicated.Total return shows how much your investment in the fund would have increased (or decreased) during each period, assuming you had reinvested all dividends and dis-tributions.These figures have been derived from the fund&#8217;s financial statements and market price data for the fund&#8217;s shares.</FONT></P>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 colSpan=5 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Year Ended March 31,</FONT></TD>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>2015</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>2014</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>2013</FONT></TD>

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   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>2012</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>2011</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Per Share Data ($):</FONT></B>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net asset value, beginning of period</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.11</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.10</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.90</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.25</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.08</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Investment Operations:</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Investment income&#8212;net</FONT><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>a</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.32</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.36</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.38</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.41</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.47</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net realized and unrealized</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>gain (loss) on investments</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(.23</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.05</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.26</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(.26</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.22</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Total from Investment Operations</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.09</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.41</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.64</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.15</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.69</FONT></TD>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Distributions:</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Dividends from investment income&#8212;net</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(.36</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(.40</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(.44</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(.50</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(.52</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net asset value, end of period</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.84</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.11</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.10</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.90</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.25</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Market value, end of period</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3.65</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.19</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.40</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.65</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.67</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Total Return (%)</FONT></B><B><SUP><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>b</FONT></SUP></B>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(4.51</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4.95</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5.12</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11.65</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>21.45</FONT></TD>

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   <TD bgColor=#e8e8e8 align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Ratios/Supplemental Data (%):</FONT></B>&nbsp;</TD>

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   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ratio of total expenses</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>to average net assets</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.81</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.92</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2.03</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2.11</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2.24</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ratio of net expenses</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>to average net assets</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.74</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.71</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.82</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.90</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>d</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2.00</FONT></TD>

   <TD bgColor=#e8e8e8 align=left><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>d</FONT></SUP>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ratio of interest expense</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>to average net assets</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.52</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.51</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.57</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.61</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>.67</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Ratio of net investment income</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.117pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>to average net assets</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.04</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>8.80</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>9.56</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>10.60</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>11.60</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Portfolio Turnover Rate</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>48.20</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>48.39</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>42.42</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>57.91</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>65.63</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Net Assets, end of period ($ x 1,000)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>279,308</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>297,911</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>297,210</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>281,897</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>306,175</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Average borrowings outstanding</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>($ x 1,000)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>120,000</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>120,000</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>120,000</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>120,000</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>118,677</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Weighted average number of</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8.116pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>fund shares outstanding ($ x 1,000)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>72,621</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>72,518</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>72,410</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>72,194</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>71,772</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Average amount of debt per share ($)</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.65</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.65</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.66</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.66</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1.65</FONT></TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">a Based on average shares outstanding.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">b Calculated based on market value.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">c The presentation of total expense ratios has been changed to include interest expense.Total expenses excluding interest</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">expense for the periods ended March 31, 2013, 2012 and 2011 were previously presented as 1.46%, 1.50% and</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">1.57%, respectively.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">d The presentation of net expense ratios has been changed to include interest expense. Net expenses excluding interest</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">expense for the periods ended March 31, 2013, 2012 and 2011 were previously presented as 1.25%, 1.29% and</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 10pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">1.33%, respectively.</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">See notes to financial statements.</FONT></I></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>24</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>NOTES TO FINANCIAL STATEMENTS</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>NOTE 1&#8212;Significant Accounting Policies:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Dreyfus High Yield Strategies Fund (the &#8220;fund&#8221;) is registered under the Investment Company Act of 1940, as amended (the &#8220;Act&#8221;), as a non-diversified, closed-end management investment company. The fund&#8217;s primary investment objective is to seek high current income. Under normal market conditions, the fund invests at least 65% of its total assets in income securities of U.S. issuers rated below investment grade quality or unrated income securities that The Dreyfus Corporation (the &#8220;Manager&#8221; or &#8220;Dreyfus&#8221;), a wholly-owned subsidiary of The Bank of New York Mellon Corporation (&#8220;BNY Mellon&#8221;), serving as the fund&#8217;s investment manager and administrator, determines to be of comparable quality. The fund&#8217;s Common Stock trades on the New York Stock Exchange Amex (the &#8220;NYSE&#8221;) under the ticker symbol DHF.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) is the exclusive reference of authoritative U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (&#8220;SEC&#8221;) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund&#8217;s financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">(a) Portfolio valuation: </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>25</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>NOTES TO FINANCIAL STATEMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Various inputs are used in determining the value of the fund&#8217;s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">Level 1</FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8212;unadjusted quoted prices in active markets for identical investments.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">Level 2</FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8212;other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">Level 3</FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8212;significant unobservable inputs (including the fund&#8217;s own assumptions in determining the fair value of investments).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund&#8217;s investments are as follows:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Registered investment companies that are not traded on an exchange are valued at their net asset value and are generally categorized within Level 1 of the fair value hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Investments in securities, excluding short-term investments (other than U.S. Treasury Bills) and forward foreign currency exchange contracts (&#8220;forward contracts&#8221;) are valued each business day by an independent pricing service (the &#8220;Service&#8221;) approved by the fund&#8217;s Board of Trustees (the &#8220;Board&#8221;). Investments for which quoted bid prices are readily available and are representative of the bid side of the market in the judgment of the Service are valued at the mean between the quoted bid prices (as obtained by the Service from dealers in such securities) and asked prices (as calculated by the Service based upon its</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>26</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">evaluation of the market for such securities). Other investments (which constitute a majority of the portfolio securities) are valued as determined by the Service, based on methods which include consideration of the following: yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions. These securities are generally categorized within Level 2 of the fair value hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Service&#8217;s procedures are reviewed by Dreyfus under the general supervision of the Board.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">When market quotations or official closing prices are not readily available, or are determined not to reflect accurately fair value, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded (for example, a foreign exchange or market), but before the fund calculates its net asset value, the fund may value these investments at fair value as determined in accordance with the procedures approved by the Board. Certain factors may be considered when fair valuing investments such as: fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">For restricted securities where observable inputs are limited, assumptions about market activity and risk are used and are generally categorized within Level 3 of the fair value hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Investments denominated in foreign currencies are translated to U.S. dollars at the prevailing rates of exchange.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Forward contracts are valued at the forward rate and are generally categorized within Level 2 of the fair value hierarchy.</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>27</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>NOTES TO FINANCIAL STATEMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The following is a summary of the inputs used as of March 31, 2015 in valuing the fund&#8217;s investments:</FONT></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="24%"></TD>

   <TD width="15%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD>

   <TD width="17%"></TD>

   <TD width="4%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Level 2&#8212;Other</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Level 3&#8212;</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Level 1&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Significant</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Significant</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Unadjusted</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Observable</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Unobservable</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Quoted Prices</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Inputs</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Inputs</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Total</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Assets ($)</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD colSpan=2 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Investments in Securities:</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Corporate Bonds</FONT><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8224;</FONT></SUP>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>380,460,086</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>380,460,086</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Mutual Funds</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>15,168,129</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>15,168,129</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Preferred Stocks</FONT><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8224;</FONT></SUP>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,591,873</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>2,591,873</FONT></B></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Liabilities ($)</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Other Financial</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Instruments:</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Forward Foreign</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Currency Exchange</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=center><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Contracts</FONT><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8224;&#8224;</FONT></SUP>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(259,067</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(259,067</FONT></B></TD>

   <TD align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="3%"></TD>

   <TD width="96%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">&#8224;</FONT></I>&nbsp;</TD>

   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">See Statement of Investments for additional detailed categorizations.</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><SUP><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">&#8224;&#8224;</FONT></SUP></I>&nbsp;</TD>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Amount shown represents unrealized appreciation at period end.</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">At March 31, 2015, there were no transfers between Level 1 and Level 2 of the fair value hierarchy.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">(b) Foreign currency transactions: </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The fund does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized on securities transactions between trade and settlement date, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the fund&#8217;s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the value of assets and liabilities other than investments resulting from changes in exchange rates. Foreign currency gains and losses on foreign currency transactions are also included with net realized and unrealized gain or loss on investments.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>28</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">(c) Securities transactions and investment income: </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Securities transactions are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recognized on the ex-dividend date and interest income, including, where applicable, accretion of discount and amortization of premium on investments, is recognized on the accrual basis.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">(d) Affiliated issuers: </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Investments in other investment companies advised by Dreyfus are defined as &#8220;affiliated&#8221; under the Act. Investments in affiliated investment companies during the period ended March 31, 2015 were as follows:</FONT></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="17%"></TD>

   <TD width="14%"></TD>

   <TD width="4%"></TD>

   <TD width="16%"></TD>

   <TD width="16%"></TD>

   <TD width="14%"></TD>

   <TD width="4%"></TD>

   <TD width="11%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Affiliated</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Investment</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Net</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid; TEXT-INDENT: 7.999pt" align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Company</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>3/31/2014</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Purchases ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Sales ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>3/31/2015</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Assets (%)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Dreyfus</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Institutional</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Preferred</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Plus Money</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Market Fund</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,111,520</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>135,083,993</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>122,027,384</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>15,168,129</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5.4</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">(e) Risk: </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The fund invests primarily in debt securities. Failure of an issuer of the debt securities to make timely interest or principal payments, or a decline or the perception of a decline in the credit quality of a debt security, can cause the debt security&#8217;s price to fall, potentially lowering the fund&#8217;s share price. High yield (&#8220;junk&#8221;) bonds involve greater credit risk, including the risk of default, than investment grade bonds, and are considered predominantly speculative with respect to the issuer&#8217;s continuing ability to make principal and interest payments.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The fund is permitted to invest up to 5% of its assets directly in the common stock of junk bond issuers. This percentage will be in addition to any other common stock holdings acquired as part of warrants or &#8220;units&#8221;, so that the fund&#8217;s total common stock holdings could exceed 5% at a particular time. However, the fund currently intends to invest directly in common stocks (including those offered in an initial public offering) to gain sector exposure and when suitable junk bonds are not available for sale. The fund expects to sell the common stock promptly when suitable junk bonds are subsequently acquired.</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>29</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>NOTES TO FINANCIAL STATEMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">(f) Dividends to shareholders: </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Dividends are recorded on the ex-dividend date. Dividends from investment income-net are declared and paid monthly. Dividends from net realized capital gains, if any, are normally declared and paid annually, but the fund may make distributions on a more frequent basis to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;). To the extent that net realized capital gains can be offset by capital loss carryovers, it is the policy of the fund not to distribute such gains. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">For shareholders who elect to receive their distributions in additional shares of the fund, unless such shareholders elects to receive cash as provided below, such distributions will be reinvested at the lower of the market price or net asset value per share (but not less than 95% of the market price). If market price is equal to or exceeds net asset value, shares will be issued at net asset value. If net asset value exceeds market price or if a cash dividend only is declared, Computershare Inc., the fund&#8217;s transfer agent, will buy fund shares in the open market and reinvest those shares accordingly.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">On March 26, 2015, the Board declared a cash dividend of $0.029 per share from undistributed investment income-net, payable on April 27, 2015 to shareholders of record as of the close of business on April 10, 2015.The ex-dividend date was April 8, 2015.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">(g) Federal income taxes: </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">It is the policy of the fund to continue to qualify as a regulated investment company, if such qualification is in the best interests of its shareholders, by complying with the applicable provisions of the Code, and to make distributions of taxable income sufficient to relieve it from substantially all federal income and excise taxes.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">As of and during the period ended March 31, 2015, the fund did not have any liabilities for any uncertain tax positions.The fund recognizes interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statement of Operations. During the period ended March 31, 2015, the fund did not incur any interest or penalties.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>30</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Each tax year in the four-year period ended March 31, 2015 remains subject to examination by the Internal Revenue Service and state taxing authorities.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">At March 31, 2015, the components of accumulated earnings on a tax basis were as follows: undistributed ordinary income $2,859,491, accumulated capital losses $64,105,022 and unrealized appreciation $1,322,525. In addition, the fund had $25,857 of capital losses realized after October 31, 2014, which were deferred for tax purposes to the first day of the following fiscal year.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Under the Regulated Investment Company Modernization Act of 2010 (the &#8220;2010 Act&#8221;), the fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 (&#8220;post-enactment losses&#8221;) for an unlimited period. Furthermore, post-enactment capital loss carryovers retain their character as either short-term or long-term capital losses rather than short-term as they were under previous statute.The 2010 Act requires post-enactment losses to be utilized before the utilization of losses incurred in taxable years prior to the effective date of the 2010 Act (&#8220;pre-enactment losses&#8221;).As a result of this ordering rule, pre-enactment losses may be more likely to expire unused.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The accumulated capital loss carryover is available for federal income tax purposes to be applied against future net realized capital gains, if any, realized subsequent to March 31, 2015. If not applied, $5,933,593 of the carryover expires in fiscal year 2016, $24,707,290 expires in fiscal year 2017 and $33,464,139 expires in fiscal year 2018. It is uncertain that the fund will be able to utilize most of its pre-enactment capital loss carryovers prior to its expiration date.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The tax character of distributions paid to shareholders during the fiscal periods ended March 31, 2015 and March 31, 2014 were as follows: ordinary income $26,142,930 and $28,715,087, respectively.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">During the period ended March 31, 2015, as a result of permanent book to tax differences, primarily due to the tax treatment for amor-</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>31</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>NOTES TO FINANCIAL STATEMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">tization of premiums, consent fees and foreign currency transactions, the fund increased accumulated undistributed investment income-net by $3,099,524 and decreased accumulated net realized gain (loss) on investments by the same amount. Net assets and net asset value per share were not affected by this reclassification.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>NOTE 2&#8212;Borrowings:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The fund has a $125,000,000 Revolving Credit and Security Agreement (the &#8220;Agreement&#8221;), which was renewed until November 24, 2015, subject to certain amendments. Under the terms of the Agreement, the fund may borrow &#8220;Advances&#8221; (including Eurodollar Advances), on a collateralized basis with certain fund assets used as collateral, which amounted to $342,114,144 as of March 31, 2015.The interest to be paid by the fund on such Advances is determined with reference to the principal amount of each Advance (and/or Eurodollar Advance) outstanding from time to time. The fund also pays additional fees pursuant to the Agreement. During the period ended March 31, 2015, total expenses pursuant to the Agreement amounted to $1,490,712.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The average amount of borrowings outstanding under the Agreement during the period ended March 31, 2015 was $120,000,000, with a related weighted average annualized interest rate of 1.24% and is inclusive of all expenses related to the Agreement.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>NOTE 3&#8212;Management Fee and Other Transactions with Affiliates:</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">(a) </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Prior to August 1, 2014, pursuant to a management and administration agreement with Dreyfus, the management and administration fee was computed at the annual rate of .90% of the value of the fund&#8217;s average weekly total assets minus the sum of accrued liabilities (other than the aggregate indebtedness constituting financial leverage) (the &#8220;Managed Assets&#8221;) and was payable monthly. Effective August 1, 2014, the Board approved the reduction in management and administration fee to an annual rate of .75% of the value of the fund&#8217;s Managed Assets. Dreyfus had been waiving receipt of a portion of the fund&#8217;s manage-</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>32</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">ment and administration fee in the amount of .15% of the Managed Assets but, in light of the reduction of the management and administration fee, that waiver was terminated, effective August 1, 2014. The reduction in expenses, pursuant to the undertaking, amounted to $209,259 during the period ended March 31, 2015.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">(b) </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The fund compensates The Bank of NewYork Mellon, a subsidiary of BNY Mellon and an affiliate of Dreyfus, under a custody agreement for providing custodial services for the fund.These fees are determined based on net assets, geographic region and transaction activity. During the period ended March 31, 2015, the fund was charged $36,736 pursuant to the custody agreement.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">During the period ended March 31, 2015, the fund was charged $6,002 for services performed by the Chief Compliance Officer and his staff.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The components of &#8220;Due to The Dreyfus Corporation and affiliates&#8221; in the Statement of Assets and Liabilities consist of: management fees $254,102, custodian fees $7,986 and Chief Compliance Officer fees $1,720.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">(c) </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Each Board member also serves as a Board member of other funds within the Dreyfus complex. Annual retainer fees and attendance fees are allocated to each fund based on net assets.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>NOTE 4&#8212;Securities Transactions:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The aggregate amount of purchases and sales of investment securities, excluding short-term securities and forward contracts, during the period ended March 31, 2015, amounted to $191,587,065 and $200,618,777, respectively.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">Derivatives: </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">A derivative is a financial instrument whose performance is derived from the performance of another asset. The fund enters into International Swaps and Derivatives Association, Inc. Master Agreements or similar agreements (collectively, &#8220;Master Agreements&#8221;)</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>33</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>NOTES TO FINANCIAL STATEMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">with its over-the-counter (&#8220;OTC&#8221;) derivative contract counterparties in order to, among other things, reduce its credit risk to counterpar-ties. Master Agreements include provisions for general obligations, representations, collateral and events of default or termination. Under a Master Agreement, the fund may offset with the counterparty certain derivative financial instrument&#8217;s payables and/or receivables with collateral held and/or posted and create one single net payment in the event of default or termination.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Each type of derivative instrument that was held by the fund during the period ended March 31, 2015 is discussed below.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=2 face="Bembo-Semibold,Times New Roman,Times,serif">Forward Foreign Currency Exchange Contracts: </FONT></B><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The fund enters into forward contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings, to settle foreign currency transactions or as a part of its investment strat-egy.When executing forward contracts, the fund is obligated to buy or sell a foreign currency at a specified rate on a certain date in the future. With respect to sales of forward contracts, the fund incurs a loss if the value of the contract increases between the date the forward contract is opened and the date the forward contract is closed.The fund realizes a gain if the value of the contract decreases between those dates.With respect to purchases of forward contracts, the fund incurs a loss if the value of the contract decreases between the date the forward contract is opened and the date the forward contract is closed.The fund realizes a gain if the value of the contract increases between those dates. Any realized or unrealized gains or losses which occurred during the period are reflected in the Statement of Operations. The fund is exposed to foreign currency risk as a result of changes in value of underlying financial instruments. The fund is also exposed to credit risk associated with counterparty nonperformance on these forward contracts, which is generally limited to the unrealized gain on each</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>34</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">open contract. The following summarizes open forward contracts at March 31, 2015:</FONT></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="26%"></TD>

   <TD width="4%"></TD>

   <TD width="14%"></TD>

   <TD width="16%"></TD>

   <TD width="14%"></TD>

   <TD width="18%"></TD>

   <TD width="4%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Foreign</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Forward Foreign Currency</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Currency</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Unrealized</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Exchange Contracts</FONT></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Amounts</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Cost ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Value ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>(Depreciation) ($)</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Purchases:</FONT></B></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>British Pound,</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Expiring</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/2/2015 <SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>a</FONT></SUP></FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>1,568,144</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,328,333</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>2,326,174</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(2,159</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Sales:</FONT></B></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=center><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Proceeds ($)</FONT></B>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>British Pound,</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Expiring:</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/30/2015 <SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>a</FONT></SUP></FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,470,000</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5,129,757</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5,146,306</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(16,549</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/30/2015 <SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP></FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,345,000</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,895,965</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,960,920</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(64,955</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Euro,</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Expiring:</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/30/2015 <SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>b</FONT></SUP></FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,845,000</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,075,679</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,136,054</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(60,375</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/30/2015 <SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>c</FONT></SUP></FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,505,000</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,714,732</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,770,317</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(55,585</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4/30/2015 <SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>d</FONT></SUP></FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,770,000</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>3,995,932</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,055,376</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(59,444</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(259,067</FONT></B></TD>

   <TD align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Counterparties:</FONT></I></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="5%"></TD>

   <TD width="94%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">a</FONT></I>&nbsp;</TD>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Barclays Bank</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">b</FONT></I>&nbsp;</TD>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Goldman Sachs International</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">c</FONT></I>&nbsp;</TD>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Commonwealth Bank of Australia</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">d</FONT></I>&nbsp;</TD>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Morgan Stanley Capital Services</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The provisions of ASC Topic 210 &#8220;Disclosures about Offsetting Assets and Liabilities&#8221; require disclosure on the offsetting of financial assets and liabilities. These disclosures are required for certain investments, including derivative financial instruments subject to Master Agreements which are eligible for offsetting in the Statement of Assets and Liabilities and require the fund to disclose both gross and net information with respect to such investments. For financial reporting purposes, the fund does not offset derivative assets and derivative liabilities that are subject to Master Agreements in the Statement of Assets and Liabilities.</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>35</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>NOTES TO FINANCIAL STATEMENTS </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">At March 31, 2015, derivative liabilities (by type) on a gross basis are as follows:</FONT></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="60%"></TD>

   <TD width="34%"></TD>

   <TD width="5%"></TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Derivative Financial Instruments:</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Liabilities ($)</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Forward contracts</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(259,067</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Total gross amount of derivative</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>liabilities in the</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Statement of Liabilities</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(259,067</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Derivatives not subject to</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Master Agreements</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Total gross amount of liabilities</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>subject to Master Agreements</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(259,067</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The following table present derivative liabilities net of amounts available for offsetting under Master Agreements and net of related collateral pledged, if any, as of March 31, 2015:</FONT></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="23%"></TD>

   <TD width="23%"></TD>

   <TD width="4%"></TD>

   <TD width="15%"></TD>

   <TD width="13%"></TD>

   <TD width="15%"></TD>

   <TD width="4%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Financial</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Instruments</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>and</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Derivatives</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Gross Amount of</FONT></TD>

   <TD align=left>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Available</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Collateral</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Net Amount of</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Counterparty</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Liabilities ($)</FONT><SUP><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>1</FONT></SUP></TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>for Offset ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Pledged ($)</FONT>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Liabilities ($)</FONT></TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Barclays Bank</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(18,708</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(18,708</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Commonwealth</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 5.999pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Bank of Australia</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(55,585</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(55,585</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Goldman Sachs</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 5.999pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>International</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(125,330</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(125,330</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Morgan Stanley</FONT>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD>

   <TD align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 5.999pt" align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Capital Services</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(59,444</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>-</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8212;</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>(59,444</FONT></TD>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>Total</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(259,067</FONT></B></TD>

   <TD align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>&#8212;</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>&#8212;</FONT></B>&nbsp;</TD>

   <TD align=right><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>(259,067</FONT></B></TD>

   <TD align=left><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>)</FONT></B>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="2%"></TD>

   <TD width="97%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">1</FONT></I>&nbsp;</TD>

   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Absent a default event or early termination, OTC derivative assets and liabilities are presented at</FONT></I>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">gross amounts and are not offset in the Statement of Assets and Liabilities.</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The following summarizes the average market value of derivatives outstanding during the period ended March 31, 2015:</FONT></P>

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="47%"></TD>

   <TD width="52%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Average Market Value ($)</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Forward contracts</FONT>&nbsp;</TD>

   <TD align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>22,904,164</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">At March 31, 2015, the cost of investment, for federal income tax purposes was $396,801,735; accordingly, accumulated net unrealized appreciation on investments was $1,418,353, consisting of $13,072,303 gross unrealized appreciation and $11,653,950 gross unrealized depreciation.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>36</FONT></B></P></DIV>

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<DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<DIV align=left>

<TABLE border=0 cellSpacing=0>



<TR>

   <TD width="100%"></TD></TR>

<TR vAlign=bottom>

   <TD align=left><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>REPORT OF INDEPENDENT REGISTERED</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 16pt" align=left><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>PUBLIC ACCOUNTING FIRM</FONT>&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0px">&nbsp;</P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>The Board of Trustees and Shareholders of Dreyfus High Yield Strategies Fund</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">We have audited the accompanying statement of assets and liabilities of Dreyfus High Yield Strategies Fund (the &#8220;Fund&#8221;), including the statement of investments, as of March 31, 2015, and the related statement of operations and cash flows for the year then ended, the statement of changes in net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the five-year period then ended.These financial statements and financial highlights are the responsibility of the Fund&#8217;s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2015, by correspondence with the custodian and brokers or by other appropriate auditing procedures.An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Dreyfus High Yield Strategies Fund as of March 31, 2015, the results of its operations and its cash flows for the year then ended, the changes in its net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the five year period then ended, in conformity with U.S. generally accepted accounting principles.</FONT></P>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">New York, New York</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">May 28, 2015</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>37</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>ADDITIONAL INFORMATION </FONT><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>(Unaudited)</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>Dividend Reinvestment Plan</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">To participate automatically in the Dividend Reinvestment Plan (the &#8220;Plan&#8221;) of the Dreyfus High Yield Strategies Fund (the &#8220;fund&#8221;), fund shares must be registered in either your name, or, if your fund shares are held in nominee or &#8220;street&#8221; name through your broker-dealer, your broker-dealer must be a participant in the Plan. You may terminate your participation in the Plan, as set forth below. All shareholders participating (the &#8220;Participants&#8221;) in the Plan will be bound by the following provisions:</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Computershare Inc. (the &#8220;Agent&#8221;) will act as Agent for each Participant, and will open an account for each Participant under the Plan in the same name as their present shares are registered, and put into effect for them the dividends reinvestment option of the plan as of the first record date for a dividend or capital gains distribution.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Whenever the fund declares income dividend or capital gains distribution payable in shares of the fund or cash at the option of the shareholders, each Participant that does not opt for cash distributions shall take such distribution entirely in shares. If on the payment date for a dividend or capital gains distribution, the net asset value is equal to or less than the market price per share plus estimated brokerage commissions, the Agent shall automatically receive such shares, including fractions, for each Participant&#8217;s account except in the circumstances described in the following paragraph. Except in such circumstances, the number of additional shares to be credited to each Participant&#8217;s account shall be determined by dividing the dollar amount of the income dividend or capital gains distribution payable on their shares by the greater of the net asset value per share determined as of the date of purchase or 95% of the then current market price per share of the fund&#8217;s shares on the payment date.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Should the net asset value per share of the fund shares exceed the market price per share plus estimated brokerage commissions on the payment date for a share or cash income dividend or capital gains dis-</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>38</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">tribution, the Agent or a broker-dealer selected by the Agent shall endeavor, for a purchase period of 30 days to apply the amount of such dividend or capital gains distribution on each Participant&#8217;s shares (less their pro rata share of brokerage commissions incurred with respect to the Agent&#8217;s open-market purchases in connection with the reinvestment of such dividend or distribution) to purchase shares of the fund on the open market for each Participant&#8217;s account. In no event may such purchase be made more than 30 days after the payment date for such dividend or distribution except where temporary curtailment or suspension of purchase is necessary to comply with applicable provisions of federal securities laws. If, at the close of business on any day during the purchase period the net asset value per share equals or is less than the market price per share plus estimated brokerage commissions, the Agent will not make any further open-market purchases in connection with the reinvestment of such dividend or distribution. If the Agent is unable to invest the full dividend or distribution amount through open-market purchases during the purchase period, the Agent shall request that, with respect to the uninvested portion of such dividend or distribution amount, the fund issue new shares at the close of business on the earlier of the last day of the purchase period or the first day during the purchase period on which the net asset value per share equals or is less than the market price per share, plus estimated brokerage commissions. These newly issued shares will be valued at the then-current market price per share of the fund&#8217;s shares at the time such shares are to be issued.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">For purposes of making the dividend reinvestment purchase comparison under the Plan, (a) the market price of the fund&#8217;s shares on a particular date shall be the last sales price on the NYSE on that date, or, if there is no sale on such NYSE on that date, then the mean between the closing bid and asked quotations for such shares on such NYSE on such date and (b) the net asset value per share of the fund&#8217;s shares on a particular date shall be the net asset value per share most recently calculated by or on behalf of the fund.</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>39</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>ADDITIONAL INFORMATION (Unaudited) </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Open-market purchases provided for above may be made on any securities exchange where the fund&#8217;s shares are traded, in the over-the-counter market or in negotiated transactions and may be on such terms as to price, delivery and otherwise as the Agent shall determine. Each Participant&#8217;s uninvested funds held by the Agent will not bear interest, and it is understood that, in any event, the Agent shall have no liability in connection with any inability to purchase shares within 30 days after the initial date of such purchase as herein provided, or with the timing of any purchase effected.The Agent shall have no responsibility as to the value of the fund&#8217;s shares acquired for each Participant&#8217;s account. For the purpose of cash investments, the Agent may commingle each Participant&#8217;s fund with those of other shareholders of the fund for whom the Agent similarly acts as Agent, and the average price (including brokerage commissions) of all shares purchased by the Agent as Agent shall be the price per share allocable to each Participant in connection therewith.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Agent may hold each Participant&#8217;s shares acquired pursuant to the Plan together with the shares of other shareholders of the fund acquired pursuant to the Plan in noncertificated form in the Agent&#8217;s name or that of the Agent&#8217;s nominee.The Agent will forward to each Participant any proxy solicitation material; and will vote any shares so held for each Participant first in accordance with the instructions set forth on proxies returned by the Participant to the fund, and then with respect to any proxies not returned by the participant to the fund in the same portion as the Agent votes proxies returned by the Participants to the fund. Upon a Participant&#8217;s written request, the Agent will deliver to the Participant, without charge, a certificate or certificates for the full shares.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Agent will confirm to each Participant each acquisition made for their account as soon as practicable but not later than 60 days after the date thereof. Although each Participant may from time to time have an undivided fractional interest (computed to four decimal places) in a share of the fund, no certificates for a fractional share will be issued. However, dividends and distributions on fractional shares will be credited to each Participant&#8217;s account. In the event of termination of</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>40</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">a Participant&#8217;s account under the Plan, the Agent will adjust for any such undivided fractional interest in cash at the market value of the fund&#8217;s shares at the time of termination.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Any share dividends or split shares distributed by the fund on shares held by the Agent for Participants will be credited to their accounts. In the event that the fund makes available to its shareholders rights to purchase additional shares of other securities, the shares held for each Participant under the Plan will be added to other shares held by the Participant in calculating the number of rights to be issued to each Participant.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Agent&#8217;s service fee for handling capital gains distributions or income dividends will be paid by the fund. Each Participant will be charged their pro rata share of brokerage commissions on all open-market purchases.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Each Participant may terminate their account under the Plan by notifying the Agent in writing. Such termination will be effective immediately if the Participant&#8217;s notice is received by the Agent not less than ten days prior to any dividend or distribution record date, otherwise such termination will be effective shortly after the investment of such dividend distributions with respect to any subsequent dividend or distribution.The Plan may be terminated by the Agent or the fund upon notice in writing mailed to each Participant at least 90 days prior to any record date for the payment of any dividend or distribution by the fund. Upon any termination, the Agent will cause a certificate or certificates to be issued for the full shares held for each Participant under the Plan and cash adjustment for any fraction to be delivered to them without charge. If a Participant elects by notice to the Agent in writing in advance of such termination to have the Agent sell part or all of their shares and remit the proceeds to them, the Agent is authorized to deduct a $5.00 fee plus brokerage commission for this transaction from the proceeds.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">These terms and conditions may be amended or supplemented by the Agent or the fund at any time or times but, except when necessary or appropriate to comply with applicable law or the rules or policies of</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>41</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>ADDITIONAL INFORMATION (Unaudited) </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">the SEC or any other regulatory authority, only by mailing to each Participant appropriate written notice at least 30 days prior to the effective date thereof.The amendment or supplement shall be deemed to be accepted by each Participant unless, prior to the effective date thereof, the Agent receives written notice of the termination of their account under the Plan. Any such amendment may include an appointment by the Agent in its place and stead of a successor Agent under these terms and conditions, with full power and authority to perform all or any of the acts to be performed by the Agent under these terms and conditions. Upon any such appointment of any Agent for the purpose of receiving dividends and distributions, the fund will be authorized to pay to such successor Agent, for each Participant&#8217;s account, all dividends and distributions payable on shares of the fund held in their name or under the Plan for retention or application by such successor Agent as provided in these terms and conditions.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Agent shall at all times act in good faith and agree to use its best efforts within reasonable limits to insure the accuracy of all services performed under this Agreement and to comply with applicable law, but assumes no responsibility and shall not be liable for loss or damage due to errors unless such error is caused by the Agent&#8217;s negligence, bad faith, or willful misconduct or that of its employees.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">These terms and conditions shall be governed by the laws of the State of New York.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face=Interstate-Regular,Arial,Helvetica,sans-serif>Supplemental Information</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">During the period ended March 31, 2015, there were: (i) no material changes in the fund&#8217;s investment objectives or fundamental investment policies, (ii) no changes in the fund&#8217;s charter or by-laws that would delay or prevent a change of control of the fund, and (iii) no change in the persons primarily responsible for the day-to-day management of the fund&#8217;s portfolio.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Shareholders should take note of the following information about certain risks of investing in the fund.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>42</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><I><U><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Municipal securities risk. </FONT></U></I><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The amount of public information available about municipal securities is generally less than that for corporate equities or bonds. Special factors, such as legislative changes, and state and local economic and business developments, may adversely affect the yield and/or value of the fund&#8217;s investments in municipal securities. Other factors include the general conditions of the municipal securities market, the size of the particular offering, the maturity of the obligation and the rating of the issue.The municipal securities market can be susceptible to increases in volatility and decreases in liquidity. Liquidity can decline unpredictably in response to overall economic conditions or credit tightening. Increases in volatility and decreases in liquidity may be caused by a rise in interest rates (or the expectation of a rise in interest rates), which are at or near historic lows in the United States. During periods of reduced market liquidity, the fund may not be able to readily sell municipal securities at prices at or near their perceived value. Changes in economic, business or political conditions relating to a particular municipal project, municipality, or state, territory or possession of the United States in which the fund invests may have an impact on the fund&#8217;s net asset value per share of Common Stock. A credit rating downgrade relating to, default by, or insolvency or bankruptcy of, one or several municipal security issuers of a state, territory or possession of the United States in which the fund invests could affect the market values and marketability of many or all municipal securities of such state, territory or possession.</FONT></P>
<P style="TEXT-ALIGN: left"><I><U><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Interest rate risk. </FONT></U></I><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Prices of bonds and other fixed-income securities tend to move inversely with changes in interest rates.Typically, a rise in rates will adversely affect fixed-income securities and, accordingly, will cause the value of the fund&#8217;s investments in these securities to decline. During periods of very low interest rates, which occur from time to time due to market forces or actions of governments and/or their central banks, including the Board of Governors of the Federal Reserve System in the U.S., the fund may be subject to a greater risk of principal decline from rising interest rates.When interest rates fall, the values of</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>43</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>ADDITIONAL INFORMATION (Unaudited) </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">already-issued fixed-income securities generally rise. However, when interest rates fall, the fund&#8217;s investments in new securities may be at lower yields and may reduce the fund&#8217;s income. The magnitude of these fluctuations in the market price of fixed-income securities is generally greater for securities with longer effective maturities and durations because such instruments do not mature, reset interest rates or become callable for longer periods of time.The change in the value of a fixed-income security or portfolio can be approximated by multiplying its duration by a change in interest rates. For example, the market price of a fixed-income security with a duration of three years would be expected to decline 3% if interest rates rose 1%. Conversely, the market price of the same security would be expected to increase 3% if interest rates fell 1%. Risks associated with rising interest rates are heightened given that interest rates in the United States and other countries are at or near historic lows. Unlike investment grade bonds, however, the prices of high yield bonds may fluctuate unpredictably and not necessarily inversely with changes in interest rates.</FONT></P>
<P style="TEXT-ALIGN: left"><I><U><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Liquidity risk. </FONT></U></I><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">When there is little or no active trading market for specific types of securities, it can become more difficult to sell the securities in a timely manner at or near their perceived value. In such a market, the value of such securities and the fund&#8217;s net asset value per share of Common Stock may fall dramatically, even during periods of declining interest rates. The secondary market for certain municipal bonds tends to be less well developed or liquid than many other securities markets, which may adversely affect the fund&#8217;s ability to sell such municipal bonds at attractive prices. Investments that are illiquid or that trade in lower volumes may be more difficult to value. The market for below investment grade securities may be less liquid and therefore these securities may be harder to value or sell at an acceptable price, especially during times of market volatility or decline.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>44</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>IMPORTANT TAX INFORMATION </FONT><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>(Unaudited)</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">For federal tax purposes, the fund reports the maximum amount allowable but not less than 86.10% as interest-related dividends in accordance with Section 871(k)(1) and 881(e) of the Internal Revenue Code.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>PROXY RESULTS </FONT><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>(Unaudited)</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Holders of Beneficial Interest voted on the following proposal presented at the annual shareholders&#8217; meeting held on August 7, 2014 as follows:</FONT></P>

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<TR>

   <TD width="46%"></TD>

   <TD width="26%"></TD>

   <TD width="8%"></TD>

   <TD width="18%"></TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Shares</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>For</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>Authority Withheld</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 0pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>To elect one Class II Trustee:</FONT><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8224;</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Benaree Pratt Wiley</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>57,654,784</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,912,212</FONT>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>To elect two Class III Trustees:</FONT><SUP><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>&#8224;&#8224;</FONT></SUP>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD></TR>

<TR vAlign=bottom>

   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Joseph S. DiMartino</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>57,662,303</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>4,184,693</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 8pt" bgColor=#e8e8e8 align=left><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>Kenneth A. Himmel</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>56,303,787</FONT>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=left>&nbsp;</TD>

   <TD bgColor=#e8e8e8 align=right><FONT color=#141414 size=1 face=InterstateLight-NonKern,Arial,Helvetica,sans-serif>5,543,209</FONT>&nbsp;</TD></TR></TABLE></DIV>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">The term of this Class II Trustee expires in 2016.</FONT></I>&nbsp;</TD></TR>

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   <TD align=left><I><SUP><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">&#8224;&#8224;</FONT></SUP></I>&nbsp;</TD>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">The terms of these Class III Trustees expire in 2017.</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>45</FONT></B></P></DIV>

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   <TD align=left><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>INFORMATION ABOUT THE RENEWAL OF THE</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 16pt" align=left><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>FUND&#8217;S MANAGEMENT AGREEMENT </FONT><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>(Unaudited)</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">At a meeting of the fund&#8217;s Board of Trustees held on February 25-26, 2015, the Board considered the renewal of the fund&#8217;s Investment Management and Administration Agreement pursuant to which Dreyfus provides the fund with investment advisory and administrative services (the &#8220;Agreement&#8221;). The Board members, none of whom are &#8220;interested persons&#8221; (as defined in the Investment Company Act of 1940, as amended) of the fund, were assisted in their review by independent legal counsel and met with counsel in executive session separate from Dreyfus representatives. In considering the renewal of the Agreement, the Board considered all factors that it believed to be relevant, including those discussed below.The Board did not identify any one factor as dispositive, and each Board member may have attributed different weights to the factors considered.</FONT></P>

<P style="TEXT-ALIGN: left"><U><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Analysis of Nature, Extent, and Quality of Services Provided to the Fund.</FONT></U><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Board considered information provided to them at the meeting and in previous presentations from Dreyfus representatives regarding the nature, extent, and quality of the services provided to funds in the Dreyfus fund complex. Dreyfus representatives noted that the fund was a closed-end fund without daily inflows and outflows of capital and provided the fund&#8217;s asset size. Dreyfus also had previously provided information regarding the diverse intermediary relationships and distribution channels of funds in the Dreyfus fund complex and Dreyfus&#8217; corresponding need for broad, deep, and diverse resources to be able to provide ongoing shareholder services to intermediaries and shareholders.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Board also considered research support available to, and portfolio management capabilities of, the fund&#8217;s portfolio management personnel and that Dreyfus also provides oversight of day-to-day fund operations, including fund accounting and administration and assistance in meeting legal and regulatory requirements. The Board also considered Dreyfus&#8217; extensive administrative, accounting and compliance infrastructures.</FONT></P>

<P style="TEXT-ALIGN: left"><U><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Comparative Analysis of the Fund&#8217;s Performance and Management Fee and Expense Ratio. </FONT></U><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Board reviewed reports prepared by Lipper, Inc. (&#8220;Lipper&#8221;), an independent provider of investment company data, which included information comparing (1) the fund&#8217;s per-</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>46</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">formance with the performance of a group of comparable funds (the &#8220;Performance Group&#8221;) and with a broader group of funds (the &#8220;Performance Universe&#8221;), all for various periods ended December 31, 2014, and (2) the fund&#8217;s actual and contractual management fees and total expenses with those of a group of comparable funds (the &#8220;Expense Group&#8221;) and with a broader group of funds (the &#8220;Expense Universe&#8221;), the information for which was derived in part from fund financial statements available to Lipper as of the date of its analysis. Dreyfus previously had furnished the Board with a description of the methodology Lipper used to select the Performance Group and Performance Universe and the Expense Group and Expense Universe.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Dreyfus representatives stated that the usefulness of performance comparisons may be affected by a number of factors, including different investment limitations that may be applicable to the fund and comparison funds. The Board discussed the results of the comparisons and noted that the fund&#8217;s total return performance, on a net asset value basis, was above the medians of the Performance Group and Performance Universe in most periods (and in periods when performance was below the median(s) was relatively close to the median(s)) and, on a market price basis, was variously above and below the Performance Group and Performance Universe medians. The Board noted that the fund&#8217;s yield performance, on both a net asset value and a market price basis, was variously above and below the Performance Group and Performance Universe medians for the ten one-year periods ended December 31st but noted that the fund&#8217;s yield performance, on both a net asset value and a market price basis, was above the Performance Group and Performance Universe medians for the last five one-year periods ended December 31st. Dreyfus also provided a comparison of the fund&#8217;s calendar year total returns, based on net asset value, to the returns of the fund&#8217;s benchmark index.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Board also reviewed the range of actual and contractual management fees and total expenses of the Expense Group and Expense Universe funds and discussed the results of the comparisons. The Board was reminded that the Agreement had been amended to lower</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>47</FONT></B></P></DIV>

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   <TD align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>INFORMATION ABOUT THE RENEWAL OF THE FUND&#8217;S</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 15.999pt" align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>MANAGEMENT AGREEMENT (Unaudited) </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">the management fee payable by the fund from an annual rate of .90% to .75% of the value of the fund&#8217;s average weekly total assets (minus the sum of accrued liabilities, other than the aggregate indebtedness constituting financial leverage) (&#8220;Managed Assets&#8221;), effective August 1, 2014. The Board also noted that Dreyfus had previously agreed to waive receipt of a portion of the fund&#8217;s management fee in the amount of 0.15% of the value of the fund&#8217;s Managed Assets but the waiver was removed, effective August 1, 2014, when the management fee was reduced.The Board noted that the fund&#8217;s contractual management fee was at the Expense Group median (based on common assets), the fund&#8217;s actual management fee was approximately equal to the Expense Group and Expense Universe medians (based on common assets) and at the Expense Group median and below the Expense Universe median (based on Managed Assets). They also noted that the fund&#8217;s total expense ratio, which was provided by Lipper and included investment-related expenses such as costs associated with the fund&#8217;s leverage, was below the Expense Group medians and slightly above the Expense Universe medians (based on both net assets and Managed Assets).</FONT></P>
<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Dreyfus representatives reviewed with the Board the management or investment advisory fees (1) paid by funds advised or administered by Dreyfus that are in the same Lipper category as the fund and (2) paid to Dreyfus or the Dreyfus-affiliated primary employer of the fund&#8217;s primary portfolio manager(s) for advising any separate accounts and/or other types of client portfolios that are considered to have similar investment strategies and policies as the fund (the &#8220;Similar Clients&#8221;), and explained the nature of the Similar Clients. They discussed differences in fees paid and the relationship of the fees paid in light of any differences in the services provided and other relevant factors, noting that the fund is a closed-end fund.The Board considered the relevance of the fee information provided for the Similar Clients to evaluate the appropriateness and reasonableness of the fund&#8217;s management fee.</FONT></P>
<P style="TEXT-ALIGN: left"><U><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Analysis of Profitability and Economies of Scale. </FONT></U><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">Dreyfus representatives reviewed the expenses allocated and profit received by Dreyfus and the resulting profitability percentage for managing the fund and the aggre-</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>48</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">gate profitability percentage to Dreyfus for managing the funds in the Dreyfus fund complex, and the method used to determine the expenses and profit. The Board concluded that the profitability results were not unreasonable, given the services rendered and service levels provided by Dreyfus.The Board also noted the fee waiver arrangement and its effect on Dreyfus&#8217; profitability.The Board also had been provided with information prepared by an independent consulting firm regarding Dreyfus&#8217; approach to allocating costs to, and determining the profitability of, individual funds and the entire Dreyfus fund complex.The consulting firm also had analyzed where any economies of scale might emerge in connection with the management of a fund.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Board considered, on the advice of its counsel, the profitability analysis as part of its evaluation of whether the fees under the Agreement bear a reasonable relationship to the mix of services provided by Dreyfus, including the nature, extent and quality of such services. It was noted that, because the fund is a closed-end fund without daily inflows and outflows of capital, there were not at this time significant economies of scale to be realized by Dreyfus in managing the fund&#8217;s assets. Dreyfus representatives also noted that, as a result of shared and allocated costs among funds in the Dreyfus fund complex, the extent of economies of scale could depend substantially on the level of assets in the complex as a whole, so that increases and decreases in complex-wide assets can affect potential economies of scale in a manner that is disproportionate to, or even in the opposite direction from, changes in the fund&#8217;s asset level. The Board also considered potential benefits to Dreyfus from acting as investment adviser and noted that there were no soft dollar arrangements in effect for trading the fund&#8217;s investments.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">At the conclusion of these discussions, the Board agreed that it had been furnished with sufficient information to make an informed business decision with respect to the renewal of the Agreement. Based on the discussions and considerations as described above, the Board concluded and determined as follows.</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>49</FONT></B></P></DIV>

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   <TD align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>INFORMATION ABOUT THE RENEWAL OF THE FUND&#8217;S</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 15.999pt" align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>MANAGEMENT AGREEMENT (Unaudited) </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

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<UL>

<LI>

<P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Board concluded that the nature, extent and quality of the ser-</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">vices provided by Dreyfus are adequate and appropriate.</FONT></P>

<LI>

<P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Board generally was satisfied with the fund&#8217;s overall perfor-</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">mance.</FONT></P>

<LI>

<P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Board concluded that the fee paid to Dreyfus was reasonable in</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">light of the considerations described above.</FONT></P>

<LI>

<P align=justify><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">The Board determined that the economies of scale which may accrue</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">to Dreyfus and its affiliates in connection with the management of the</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">fund had been adequately considered by Dreyfus in connection with</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">the fee rate charged to the fund pursuant to the Agreement and that,</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">to the extent in the future it were determined that material</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">economies of scale had not been shared with the fund, the Board</FONT> <FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">would seek to have those economies of scale shared with the fund.</FONT></P></LI></UL>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">In evaluating the Agreement, the Board considered these conclusions and determinations and also relied on its previous knowledge, gained through meetings and other interactions with Dreyfus and its affiliates, of the fund and the services provided to the fund by Dreyfus. The Board also relied on information received on a routine and regular basis throughout the year relating to the operations of the fund and the investment management and other services provided under the Agreement, including information on the investment performance of the fund in comparison to similar funds and benchmark performance indices; general market outlook as applicable to the fund; and compliance reports. In addition, the Board&#8217;s consideration of the contractual fee arrangements for this fund had the benefit of a number of years of reviews of prior or similar agreements during which lengthy discussions took place between the Board and Dreyfus representatives. Certain aspects of the arrangements may receive greater scrutiny in some years than in others, and the Board&#8217;s conclusions may be based, in part, on their consideration of the same or similar arrangements in prior years.The Board determined to renew the Agreement.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>50</FONT></B></P></DIV>

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   <TD align=left><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>BOARD MEMBERS INFORMATION </FONT><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>(Unaudited)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>INDEPENDENT BOARD MEMBERS</FONT>&nbsp;</TD></TR></TABLE></DIV>

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   <TD style="TEXT-INDENT: 0pt" align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Joseph S. DiMartino (71)</FONT></B>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Chairman of the Board (1995) </FONT></B><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Current term expires in 2017</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Principal Occupation During Past 5Years:</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; Corporate Director and Trustee (1995-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Other Public Company Board Memberships During Past 5Years:</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; CBIZ (formerly, Century Business Services, Inc.), a provider of outsourcing functions for small</FONT>&nbsp;</TD></TR>

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   <TD align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp; and medium size companies, Director (1997-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; The Newark Group, a provider of a national market of paper recovery facilities, paperboard mills</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 5.875pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">and paperboard converting plants, Director (2000-2010)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">No. of Portfolios for which Board Member Serves: </FONT></I><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">147</FONT>&nbsp;</TD></TR>

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   <TD align=center><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</FONT>&nbsp;</TD></TR>

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   <TD align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Francine J. Bovich (63)</FONT></B>&nbsp;</TD></TR>

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   <TD align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Board Member (2011) </FONT></B><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Current term expires in 2015</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Principal Occupation During Past 5Years:</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; Trustee,The Bradley Trusts, private trust funds (2011-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; Managing Director, Morgan Stanley Investment Management (1993-2010)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Other Public Company Board Membership During Past 5Years:</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; Annaly Capital Management, Inc., Board Member (2014-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">No. of Portfolios for which Board Member Serves: </FONT></I><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">46</FONT>&nbsp;</TD></TR>

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   <TD align=center><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</FONT>&nbsp;</TD></TR>

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   <TD align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Kenneth A. Himmel (68)</FONT></B>&nbsp;</TD></TR>

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   <TD align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Board Member (1998) </FONT></B><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Current term expires in 2017</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Principal Occupation During Past 5Years:</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; Managing Partner, Gulf Related, an international real estate developing company (2010-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; President and CEO, Related Urban Development, a real estate development company (1996-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; CEO,American Food Management, a restaurant company (1983-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; President and CEO, Himmel &amp; Company, a real estate development company (1980-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">No. of Portfolios for which Board Member Serves: </FONT></I><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">32</FONT>&nbsp;</TD></TR>

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   <TD align=center><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</FONT>&nbsp;</TD></TR>

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   <TD align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Stephen J. Lockwood (67)</FONT></B>&nbsp;</TD></TR>

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   <TD align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Board Member (1998) </FONT></B><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Current term expires in 2015</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Principal Occupation During Past 5Years:</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; Chairman of the Board, Stephen J. Lockwood and Company LLC, a real estate investment</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 5.876pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">company (2000-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">No. of Portfolios for which Board Member Serves: </FONT></I><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">32</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>51</FONT></B></P></DIV>

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   <TD align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>BOARD MEMBERS INFORMATION (Unaudited) </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I>&nbsp;</TD></TR>

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   <TD align=left><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>INDEPENDENT BOARD MEMBERS</FONT>&nbsp;</TD></TR></TABLE></DIV>

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   <TD style="TEXT-INDENT: 0pt" align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Roslyn M.Watson (65)</FONT></B>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Board Member (1998) </FONT></B><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Current term expires in 2016</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Principal Occupation During Past 5Years:</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; Principal,Watson Ventures, Inc., a real estate investment company (1993-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">No. of Portfolios for which Board Member Serves: </FONT></I><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">70</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 124.803pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</FONT>&nbsp;</TD></TR>

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   <TD align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Benaree Pratt Wiley (68)</FONT></B>&nbsp;</TD></TR>

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   <TD align=left><B><FONT color=#141414 size=2 face="Bembo-Bold,Times New Roman,Times,serif">Board Member (1998) </FONT></B><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Current term expires in 2016</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Principal Occupation During Past 5Years:</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; Principal,TheWiley Group, a firm specializing in strategy and business development (2005-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">Other Public Company Board Membership During Past 5Years:</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8226; CBIZ (formerly, Century Business Services, Inc.), a provider of outsourcing functions for small</FONT>&nbsp;</TD></TR>

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   <TD align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&nbsp;&nbsp; and medium size companies, Director (2008-present)</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=2 face="Bembo-Italic,Times New Roman,Times,serif">No. of Portfolios for which Board Member Serves: </FONT></I><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">70</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 124.803pt" align=left><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</FONT>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">The address of the Board Members and Officers is c/o The Dreyfus Corporation, 200 Park Avenue, NewYork, New</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">York 10166.</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">J.Tomlinson Fort, Emeritus Board Member</FONT></I>&nbsp;</TD></TR>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">James M. Fitzgibbons, Emeritus Board Member</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>52</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>OFFICERS OF THE FUND </FONT><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>(Unaudited)</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>BRADLEY J. SKAPYAK, President since January 2010.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Chief Operating Officer and a director of the Manager since June 2009, Chairman of Dreyfus Transfer, Inc., an affiliate of the Manager and the transfer agent of the funds, since May 2011 and Executive Vice President of the Distributor since June 2007. From April 2003 to June 2009, Mr. Skapyak was the head of the Investment Accounting and Support Department of the Manager. He is an officer of 69 investment companies (comprised of 147 portfolios) managed by the Manager. He is 56 years old and has been an employee of the Manager since February 1988.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>JOHN PAK, Chief Legal Officer since March 2013.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Deputy General Counsel, Investment Management, of BNY Mellon since August 2014; Chief Legal Officer of the Manager since August 2012; from March 2005 to July 2012, Managing Director of Deutsche Bank, Deputy Global Head of Deutsche Asset Management Legal and Regional Head of Deutsche Asset Management Americas Legal. He is an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 46 years old and has been an employee of the Manager since August 2012.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>JANETTE E. FARRAGHER, Vice President and Secretary since December 2011.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Assistant General Counsel of BNY Mellon, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. She is 52 years old and has been an employee of the Manager since February 1984.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>KIESHA ASTWOOD, Vice President and Assistant Secretary since January 2010.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Counsel of BNY Mellon, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. She is 42 years old and has been an employee of the Manager since July 1995.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>JAMES BITETTO, Vice President and Assistant Secretary since August 2005.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Managing Counsel of BNY Mellon and Secretary of the Manager, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 48 years old and has been an employee of the Manager since December 1996.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>JONI LACKS CHARATAN, Vice President and Assistant Secretary since August 2005.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Managing Counsel of BNY Mellon, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. She is 59 years old and has been an employee of the Manager since October 1988.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>JOSEPH M. CHIOFFI, Vice President and Assistant Secretary since August 2005.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Managing Counsel of BNY Mellon, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 53 years old and has been an employee of the Manager since June 2000.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>JOHN B. HAMMALIAN, Vice President and Assistant Secretary since August 2005.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Senior Managing Counsel of BNY Mellon, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 51 years old and has been an employee of the Manager since February 1991.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>MAUREEN E. KANE, Vice President and Assistant Secretary since April 2015.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Managing Counsel of BNY Mellon since July 2014; from October 2004 until July 2014, General Counsel, and from May 2009 until July 2014, Chief Compliance Officer of Century Capital Management. She is an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. She is 53 years old and has been an employee of the Manager since July 2014.</FONT></P>

<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>53</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>OFFICERS OF THE FUND (Unaudited) </FONT><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">(continued)</FONT></I></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>SARAH S. KELLEHER, Vice President and Assistant Secretary since April 2014.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Senior Counsel of BNY Mellon, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager; from August 2005 to March 2013, Associate General Counsel of Third Avenue Management. She is 39 years old and has been an employee of the Manager since March 2013.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>JEFF PRUSNOFSKY, Vice President and Assistant Secretary since August 2005.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Senior Managing Counsel of BNY Mellon, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 49 years old and has been an employee of the Manager since October 1990.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>JAMES WINDELS, Treasurer since November 2001.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Director &#8211; Mutual Fund Accounting of the Manager, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 56 years old and has been an employee of the Manager since April 1985.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>RICHARD CASSARO, Assistant Treasurer since September 2007.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Senior Accounting Manager &#8211; Money Market and Municipal Bond Funds of the Manager, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 56 years old and has been an employee of the Manager since September 1982.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>GAVIN C. REILLY, Assistant Treasurer since December 2005.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Tax Manager of the Investment Accounting and Support Department of the Manager, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 46 years old and has been an employee of the Manager since April 1991.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>ROBERT S. ROBOL, Assistant Treasurer since December 2005.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Senior Accounting Manager &#8211; Fixed Income Funds of the Manager, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 51 years old and has been an employee of the Manager since October 1988.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>ROBERT SALVIOLO, Assistant Treasurer since May 2007.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Senior Accounting Manager &#8211; Equity Funds of the Manager, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 47 years old and has been an employee of the Manager since June 1989.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>ROBERT SVAGNA, Assistant Treasurer since August 2005.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Senior Accounting Manager &#8211; Equity Funds of the Manager, and an officer of 70 investment companies (comprised of 172 portfolios) managed by the Manager. He is 48 years old and has been an employee of the Manager since November 1990.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=Interstate-Bold,Arial,Helvetica,sans-serif>JOSEPH W. CONNOLLY, Chief Compliance Officer since October 2004.</FONT></B></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">Chief Compliance Officer of the Manager and The Dreyfus Family of Funds (70 investment companies, comprised of 172 portfolios).</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face="Bembo,Times New Roman,Times,serif">He is 57 years old and has served in various capacities with the Manager since 1980, including manager of the firm&#8217;s Fund Accounting Department from 1997 through October 2001.</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>54</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>55</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>NOTES</FONT></P>

<P style="TEXT-ALIGN: left"><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>56</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=3 face=Interstate-Light,Arial,Helvetica,sans-serif>OFFICERS AND TRUSTEES</FONT><BR><FONT color=#141414 size=2 face=Interstate-Light,Arial,Helvetica,sans-serif>Dreyfus High Yield Strategies Fund</FONT><BR><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">200 Park Avenue</FONT><BR><FONT color=#141414 size=2 face="Bembo,Times New Roman,Times,serif">New York, NY 10166</FONT></P>
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<P style="TEXT-ALIGN: left"><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">The fund&#8217;s net asset value per share appears in the following publications: Barron&#8217;s, Closed-End Bond Funds section under the heading &#8220;Bond Funds&#8221; every Monday;Wall Street Journal, Mutual Funds section under the heading &#8220;Closed-End Bond Funds&#8221; every Monday.</FONT></I></P>

<P style="TEXT-ALIGN: left"><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Notice is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940, as amended, that the fund may purchase shares of its common stock in the open market when it can do so at prices below the then current net asset value per share.</FONT></I></P>

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   <TD style="TEXT-INDENT: 0pt" align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Effective September 27, 2014, Mr. Fitzgibbons became an Emeritus Board Member.</FONT></I>&nbsp;</TD></TR>

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   <TD align=left><I><SUP><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">&#8224;&#8224;</FONT></SUP></I>&nbsp;</TD>

   <TD align=left><I><FONT color=#141414 size=1 face="Bembo-Italic,Times New Roman,Times,serif">Effective April 12, 2008, Mr. Fort became an Emeritus Board Member.</FONT></I>&nbsp;</TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: right"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The Fund </FONT><B><FONT color=#141414 size=1 face=InterstateBoldNonKern,Arial,Helvetica,sans-serif>57</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=7 face=Interstate-Light,Arial,Helvetica,sans-serif>For More Information</FONT></P>
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<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (&#8220;SEC&#8221;) for the first and third quarters of each fiscal year on Form N-Q. The fund&#8217;s Forms N-Q are available on the SEC&#8217;s website at http://www.sec.gov and may be reviewed and copied at the SEC&#8217;s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.</FONT></P>

<P style="TEXT-ALIGN: left"><FONT color=#141414 size=1 face=Interstate-Light,Arial,Helvetica,sans-serif>A description of the policies and procedures that the fund uses to determine how to vote proxies related to portfolio securities, and information regarding how the fund voted these proxies for the most recent 12-month period ended June 30 is available at http://www.dreyfus.com on the SEC&#8217;s website at http://www.sec.gov and without charge, upon request, by calling 1-800-DREYFUS.</FONT></P>
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<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Code of Ethics.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">The Registrant has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions.&nbsp; There have been no amendments to, or waivers in connection with, the Code of Ethics during the period covered by this Report.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit Committee Financial Expert.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">The Registrant's Board has determined that Joseph S. DiMartino, a member of the Audit Committee of the Board, is an audit committee financial expert as defined by the Securities and Exchange Commission (the "SEC").&nbsp; Joseph S. DiMartino is "independent" as defined by the SEC for purposes of audit committee financial expert determinations.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Principal Accountant Fees and Services.</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(a)&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Audit Fees</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">. The aggregate fees billed for each of the last two fiscal years (the "Reporting Periods") for professional services rendered by the Registrant's principal accountant (the "Auditor") for the audit of the Registrant's annual financial statements or services that are normally provided by the Auditor in connection with the statutory and regulatory filings or engagements for the Reporting Periods, were $</FONT><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">97,260 in 2014 and $99,700 in 2015.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(b)&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Audit-Related Fees</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">. The aggregate fees billed in the Reporting Periods for assurance and related services by the Auditor that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item 4 were $2,755&nbsp;in 2014 and $2,840 in 2015. These services consisted of one or more of the following: (i) agreed upon procedures related to compliance with Internal Revenue Code section 817(h), (ii) security counts required by Rule 17f-2 under the Investment Company Act of 1940, as amended, (iii) advisory services as to the accounting or disclosure treatment of Registrant transactions or events and (iv) advisory services to the accounting or disclosure treatment of the actual or potential impact to the Registrant of final or proposed rules, standards or interpretations by the Securities and Exchange Commission, the Financial Accounting Standards Boards or other regulatory or standard-setting bodies.</FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">The aggregate fees billed in the Reporting Periods for non-audit assurance and related services by the Auditor to the Registrant's investment adviser (not including any sub-investment adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Registrant ("Service Affiliates"), that were reasonably related to the performance of the annual audit of the Service Affiliate, which required pre-approval by the Audit Committee were </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">$0 in 2014 and $0 in 2015. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(c)&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Tax Fees</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">.&nbsp; The aggregate fees billed in the Reporting Periods for professional services rendered by the Auditor for tax compliance, tax advice, and tax planning ("Tax Services") were $2,430 in 2014 and $2,480 in 2015. These services consisted of review or preparation of U.S. federal, state, local and excise tax returns. The aggregate fees billed in the Reporting Periods for Tax Services by the Auditor to Service Affiliates, which required pre-approval by the Audit Committee were $0 in 2014 and $0 in 2015.&nbsp; </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(d)&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">All Other Fees</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">.&nbsp; The aggregate fees billed in the Reporting Periods for products and services provided by the Auditor, other than the services reported in paragraphs (a) through (c) of this Item, were $0</FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp; </FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">in 2014 and $0 in 2015.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">The aggregate fees billed in the Reporting Periods for Non-Audit Services by the Auditor to Service Affiliates, other than the services reported in paragraphs (b) through (c) of this Item, which required pre-approval by the Audit Committee, were $0 in 2014 and $0 in 2015.&nbsp; </FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt"><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(e)(1) Audit Committee Pre-Approval Policies and Procedures</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">. The Registrant's Audit Committee has established policies and procedures (the "Policy") for pre-approval (within specified fee limits) of the Auditor's engagements for non-audit services to the Registrant and Service Affiliates without specific case-by-case consideration. The pre-approved services in the Policy can include pre-approved audit services, pre-approved audit-related services, pre-approved tax services and pre-approved all other services.&nbsp; Pre-approval considerations include whether the proposed services are compatible with maintaining the Auditor's independence.&nbsp; Pre-approvals pursuant to the Policy are considered annually.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(e)(2) Note: None of the services described in paragraphs (b) through (d) of this Item 4 were approved by the Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. </FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0in; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(f) None of the hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal account's full-time, permanent employees.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Non-Audit Fees</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">. The aggregate non-audit fees billed by the Auditor for services rendered to the Registrant, and rendered to Service Affiliates, for the Reporting Periods were &nbsp;$13,493,316 &nbsp;in 2014 and $17,950,123 </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">in 2015.&nbsp; </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Auditor Independence</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">. The Registrant's Audit Committee has considered whether the provision of non-audit services that were rendered to Service Affiliates, which were not pre-approved (not requiring pre-approval), is compatible with maintaining the Auditor's independence.</FONT></P>

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<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Audit Committee of Listed Registrants.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">During the reporting period, the Registrant had a separately-designated standing Audit Committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, consisting of the following members: Joseph S. DiMartino, Francine J. Bovich, Kenneth A. Himmel, Stephen J. Lockwood, Roslyn M. Watson and Benaree Pratt Wiley. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">From the beginning of the reporting period until September 26, 2014, James M. Fitzgibbons also served as a member of the Fund&#8217;s Audit Committee. Effective September 27, 2014, Mr. Fitzgibbons became a Board member Emeritus and no longer serves as an active member of the Audit Committee.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(a)</FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Not applicable.</FONT></P>

<P style="TEXT-INDENT: -42pt; MARGIN: 0in 0in 12pt 42pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosure of Proxy Voting Policies and Procedures for Closed-End Management&nbsp;Investment Companies.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The board has delegated to The Dreyfus Corporation ("Dreyfus") the authority to vote proxies of companies held in the fund's portfolio.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Information regarding how the fund's proxies were voted during the most recent 12-month period ended June 30<SUP>th</SUP> is available on Dreyfus' website, by the following August 31<SUP>st</SUP>, at http://www.dreyfus.com and on the SEC's website at http://www.sec.gov on the fund's Form N-PX.</FONT></P>

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<P style="MARGIN: 0in 0in 12pt"><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Proxy Voting By Dreyfus</FONT></U></P>

<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Dreyfus, through its participation in The Bank of New York Mellon Corporation's ("BNY Mellon") Proxy Voting and Governance Committee (the "Proxy Voting Committee"), applies detailed, pre-determined, written proxy voting guidelines for specific types of proposals and matters commonly submitted to shareholders (the "BNY Mellon Voting Guidelines").&nbsp; This includes guidelines for proxy voting with respect to open-end registered investment company shares (other than securities of a registered investment company over which BNY Mellon and its direct and indirect subsidiaries, including Dreyfus ("BNYM") has proxy voting authority).&nbsp; </FONT></P>

<P style="MARGIN: 0in 0in 12pt"><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Securities Out on Loan</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">.&nbsp; It is Dreyfus' policy to seek to vote all proxies for securities held in the funds' portfolios for which Dreyfus has voting authority.&nbsp; However, situations may arise in which the Proxy Voting Committee cannot, or has adopted a policy not to, vote certain proxies, such as refraining from securities out on loan in instances in which the costs are believed to outweigh the benefits, such as when the matters presented are not likely to have a material impact on shareholder value or clients' voting will not impact the outcome of the vote.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><I><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Securities Out on Loan</FONT></I><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">.&nbsp; For securities that the fund has loaned to another party, any voting rights that accompany the loaned securities generally pass to the borrower of the securities, but the fund retains the right to recall a security and may then exercise the security's voting rights.&nbsp; In order to vote the proxies of securities out on loan, the securities must be recalled prior to the established record date.&nbsp; The fund may recall the loan to vote proxies if a material issue affecting the fund's investment is to be voted upon.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Material Conflicts of Interest</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">.&nbsp; Dreyfus seeks to avoid material conflicts of interest between the fund and fund shareholders, on the one hand, and Dreyfus, the Distributor, or any affiliated person of the fund, Dreyfus or the Distributor, on the other, through its participation in the Proxy Voting Committee.&nbsp; The BNY Mellon Proxy Voting Policy states that the Proxy Voting Committee seeks to avoid material conflicts of interest through the establishment of the committee structure, which applies the BNY Mellon Voting Guidelines in an objective and consistent manner across client accounts, based on internal and external research and recommendations provide by third party proxy advisory services (including Institutional Shareholder Services, Inc. and Glass Lewis &amp; Co., LLC (the "Proxy Advisers")) and without consideration of any client relationship factors.&nbsp; The Proxy Voting Committee utilizes the research services of the Proxy Advisers most frequently in connection with proposals that may be controversial or require a case-by-case analysis in accordance with the BNY Mellon Proxy Voting Guidelines.&nbsp; In addition, the BNY Mellon Proxy Voting Policy states that the Proxy Voting Committee engages a third party as an independent fiduciary to vote all proxies for securities of BNY Mellon or securities of a registered investment company over which BNYM has proxy voting authority and may engage an independent fiduciary to vote proxies of other issuers at the Proxy Voting Committee's discretion.&nbsp; </FONT></P>
<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Portfolio Managers of Closed-End Management Investment Companies.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(a) (1)</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp; The following information is as of May 29, 2015, the date of the filing of this report:</FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 10pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Chris Barris and Kevin Cronk, CFA are the fund&#8217;s primary portfolio managers, positions they have held since October 2010 and September 2012, respectively. Mr. Barris has been a portfolio manager of the fund and employed by Dreyfus since July 2007. Mr. Barris is head of global high yield and a senior portfolio manager at Alcentra NY, LLC (Alcentra), an affiliate of Dreyfus, which he joined in January 2013. He joined Standish Mellon Asset Management Company LLC (Standish), an affiliate of Dreyfus, in 2005, where he is director of global high yield and a senior portfolio manager. Mr. Cronk has been a portfolio manager of the fund and employed by Dreyfus since July 2012. Mr. Cronk is head of U.S. credit research and a portfolio manager at Alcentra, which he joined in January 2013. He joined Standish in 2011, where he is a senior credit analyst and portfolio manager. Prior to joining Standish, he worked as a high yield analyst and </FONT>
<FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">portfolio manager at Columbia Management, which he joined in 1999. Messrs. Barris and Cronk manage the fund as employees of Dreyfus.&nbsp; </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;(a)</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"> </FONT><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(2)</FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"> The following information is as of March 31, 2015:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Portfolio Managers</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">. The Registrant&#8217;s investment adviser is responsible for investment decisions and provides the Registrant with portfolio managers who are authorized by the Trust&#8217;s Board to execute purchases and sales of securities. Chris Barris and Kevin Cronk are the Registrant&#8217;s primary portfolio managers. Josephine Shin and Stephen Sylvester are also portfolio managers of the Registrant. Messrs. Barris, Cronk and Sylvester and Ms. Shin are dual employees of Alcentra and Dreyfus. </FONT></P>

<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Portfolio Managers Compensation.</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"> Portfolio managers&#8217; compensation is comprised primarily of a market-based salary and an incentive compensation plan (annual and long-term). Funding for the Alcentra Incentive Plan is through a pre-determined fixed percentage of overall company profitability.&nbsp; Therefore, all bonus awards are based initially on Alcentra&#8217;s overall performance as opposed to the performance of a single product or group. All investment professionals are eligible to receive incentive awards. Cash awards are payable in the February month end pay of the following year. Most of the awards granted have some portion deferred for three years in the form of deferred cash, which is invested in Alcentra funds or interests in investment vehicles (consisting of investments in a range of Alcentra products), or a combination of the above. Individual awards for portfolio managers are discretionary, based on both individual and multi-sector product risk adjusted performance relative to both benchmarks and peer comparisons over one year, three year and five year periods. Also considered in determining individual awards are team participation and general contributions to Alcentra. Individual objectives and goals are also established at the beginning of each calendar year and are taken into account. Portfolio managers whose compensation exceeds certain levels may elect to defer portions of their base salaries and/or incentive compensation pursuant to BNY Mellon&#8217;s Elective Deferred Compensation Plan.</FONT></P>
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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Additional Information About Portfolio Managers</FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">. The following table lists the number and types of other accounts advised by the primary portfolio manager and assets under management in those accounts as of March 31, 2015:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Assets Managed</FONT></U></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Pooled </FONT></B><B><U><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Accounts</FONT></U></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Assets </FONT></B><B><U><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Managed</FONT></U></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Other </FONT></B><B><U><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Accounts</FONT></U></B></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 10pt; TEXT-DECORATION: none" face="Times New Roman"></FONT></B>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Assets Managed</FONT></U></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Chris Barris</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">3 </FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 30.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">$2.64 billion</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">10</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 30.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">$1.29 billion</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">6</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 30.15pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">$403.4 million</FONT></FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman"></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Kevin Cronk</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.45pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="13%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">2 </FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.45pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="16%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">$1.69 billion</FONT></FONT></P></TD>

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   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">0</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.45pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="14%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">0</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.45pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="11%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">0</FONT></FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; HEIGHT: 13.45pt; BORDER-RIGHT: windowtext 1pt solid; PADDING-TOP: 0in" width="17%">

   <P style="TEXT-ALIGN: center; LINE-HEIGHT: 115%; MARGIN: 0in 0in 0pt" align=center><FONT style="LINE-HEIGHT: 115%"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">0</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; None of the funds or accounts are subject to a performance-based advisory fee.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The dollar range of shares of the Registrant beneficially owned by the primary portfolio manager is as follows as of March 31, 2015:</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Portfolio Manager</FONT></U></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Registrant Name</FONT></U></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Dollar Range of Registrant </FONT></B></P>

   <P style="MARGIN: 0in 0in 0pt"><B><U><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Shares Beneficially Owned</FONT></U></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Chris Barris</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Dreyfus High Yield Strategies Fund</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">8,000 Shares</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Kevin Cronk</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" face="Times New Roman">Dreyfus High Yield Strategies Fund</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 11pt" face="Times New Roman">0 Shares</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Portfolio managers at Dreyfus may manage multiple accounts for a diverse client base, including mutual funds, separate accounts (assets managed on behalf of institutions such as pension funds, insurance companies and foundations), bank common trust accounts and wrap fee programs (&#8220;Other Accounts&#8221;).&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Potential conflicts of interest may arise because of Dreyfus&#8217; management of the Registrant and Other Accounts.&nbsp; For example, conflicts of interest may arise with both the aggregation and allocation of securities transactions and allocation of limited investment opportunities, as Dreyfus may be perceived as causing accounts it manages to participate in an offering to increase Dreyfus&#8217; overall allocation of securities in that offering, or to increase Dreyfus&#8217; ability to participate in future offerings by the same underwriter or issuer.&nbsp; Allocations of bunched trades, particularly trade orders that were only partially filled due to limited availability, and allocation of investment opportunities generally, could raise a potential conflict of interest, as Dreyfus may have an incentive to allocate securities that are expected to increase in value to preferred accounts. Initial public offerings (&#8220;IPOs&#8221;), in particular, are frequently of very limited availability.&nbsp; Additionally, portfolio managers may be perceived to have a conflict of interest if there are a large number of Other Accounts, in addition to the Registrant, that they are managing on behalf of Dreyfus. Dreyfus periodically reviews each portfolio manager&#8217;s overall responsibilities to ensure that he or she is able to allocate the necessary time and resources to effectively manage the Registrant. In addition, Dreyfus could be viewed as having a conflict of interest to the extent that Dreyfus or its affiliates and/or portfolios managers have a materially larger investment in Other Accounts than their investment in the Registrant.</FONT></P>
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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Other Accounts may have investment objectives, strategies and risks that differ from those of the Registrant. For these or other reasons, the portfolio manager may purchase different securities for the Registrant and the Other Accounts, and the performance of securities purchased for the Registrant may vary from the performance of securities purchased for Other Accounts. The portfolio manager may place transactions on behalf of Other Accounts that are directly or indirectly contrary to investment decisions made for the Registrant, which could have the potential to adversely impact the Registrant, depending on market conditions.</FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">A potential conflict of interest may be perceived to arise if transactions in one account closely follow related transactions in another account, such as when a purchase increases the value of securities previously purchased by the other account, or when a sale in one account lowers the sale price received in a sale by a second account.&nbsp; </FONT></P>

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<P style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Conflicts of interest similar to those described above arise when portfolio managers are employed by a sub-investment adviser or are dual employees of Dreyfus and an affiliated entity and such portfolio managers also manage Other Accounts.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dreyfus&#8217; goal is to provide high quality investment services to all of its clients, while meeting its fiduciary obligation to treat all clients fairly.&nbsp; Dreyfus has adopted and implemented policies and procedures, including brokerage and trade allocation policies and procedures, that it believes address the conflicts associated with managing multiple accounts for multiple clients. In addition, Dreyfus monitors a variety of areas, including compliance with fund guidelines, the allocation of IPOs, and compliance with the firm&#8217;s </FONT>


<FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Code of Ethics. Furthermore, senior investment and business personnel at Dreyfus periodically review the performance of the portfolio managers for Dreyfus-managed funds.</FONT></P>

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<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases of Equity Securities by Closed-End Management Investment Companies and&nbsp;Affiliated Purchasers.</FONT></B></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Not applicable.&nbsp; [CLOSED-END FUNDS ONLY]</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Submission of Matters to a Vote of Security Holders.</FONT></B></P>

<P style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 12pt 0.5in"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">There have been no material changes to the procedures applicable to Item 10.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Controls and Procedures.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Registrant's principal executive and principal financial officers have concluded, based on their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-CSR is accumulated and communicated to the Registrant's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There were no changes to the Registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt"><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Item 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(a)(1)&nbsp;&nbsp; Code of ethics referred to in Item 2.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(a)(2)&nbsp;&nbsp; Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(a)(3)&nbsp;&nbsp; Not applicable.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certification of principal executive and principal financial officers as required by Rule 30a-2(b) under the Investment Company Act of 1940.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 12pt" lang=EN-US face="Times New Roman">SIGNATURES<BR><BR></FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">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.</FONT></P>

<P style="MARGIN: 0in 0in 12pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Dreyfus High Yield Strategies Fund</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">/s/ Bradley J. Skapyak_ </FONT></U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradley J. Skapyak,</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Date:&nbsp;&nbsp;&nbsp; May 19, 2015</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">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.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">By:&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">/s/ Bradley J. Skapyak_</FONT></U></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bradley J. Skapyak,</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Date:&nbsp;&nbsp;&nbsp; May 19, 2015</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">/s/ James Windels_</FONT></U></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; James Windels,</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Treasurer</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman">Date:&nbsp;&nbsp;&nbsp; May 19, 2015</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 12pt" align=center><B><FONT style="FONT-SIZE: 11pt" lang=EN-US face="Times New Roman"></FONT></B>&nbsp;</P>

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<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">EXHIBIT INDEX</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(a)(1)&#160;&#160; Code of ethics referred to in Item 2.</font></p>

<p style="margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(a)(2)&#160;&#160; Certifications of principal executive and
principal financial officers as required by Rule 30a-2(a) under the Investment
Company Act of 1940.&#160; (EX-99.CERT)</font></p>

<p style="margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Certification of principal executive and
principal financial officers as required by Rule 30a-2(b) under the Investment
Company Act of 1940.&#160; (EX-99.906CERT)</font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"> </font></p>

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<DOCUMENT>
<TYPE>EX-99.CODE ETH
<SEQUENCE>2
<FILENAME>codeofethicsasrevised112014.htm
<DESCRIPTION>CODE OF ETHICS
<TEXT>

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<img height=75 id=image1.png src="x15052911595600.gif" width=168>&nbsp;</p>

<p align=right style="margin:0.45pt 6.75pt 0pt 0in;text-align:right;"><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:11pt;letter-spacing:-0.05pt;">Corporate</font></font><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:11pt;letter-spacing:-0.1pt;"> </font></font><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:11pt;letter-spacing:-0.05pt;">Policy</font></font><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:11pt;letter-spacing:-0.1pt;"> </font></font><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:11pt;letter-spacing:-0.05pt;">I-A-045</font></font></p>

<p align=right style="margin:0.65pt 6.9pt 0pt 0in;text-align:right;text-indent:0in;"><font color=#818181 face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Revised</font></font><font color=#818181 face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=#818181 face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">03</font></font><font color=#818181 face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font color=#818181 face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">November</font></font><font color=#818181 face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font color=#818181 face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">2014</font></font></p>

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<p style="margin:2.45pt 0in 0pt 15pt;"><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:20pt;letter-spacing:-0.05pt;">Personal</font></font><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:20pt;letter-spacing:-0.1pt;"> </font></font><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:20pt;letter-spacing:-0.05pt;">Securities</font></font><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:20pt;"> </font></font><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:20pt;letter-spacing:-0.1pt;">Trading</font></font><font color=#818181 face=arial,sans-serif><font lang=EN-US style="font-size:20pt;letter-spacing:-0.05pt;"> Policy</font></font></p>

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<h1 style="margin:0in 0in 0in 15pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;">Summary</font></b></font></h1>

<p style="margin:6.05pt 13.65pt 0pt 14.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">supervised</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">persons</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">defined</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Advisers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Act</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">1940</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">&#8220;Advisers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Act&#8221;)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Bank</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">New</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;">York</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Mellon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Corporation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subsidiaries</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">&#8220;Company&#8221;)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">certain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">laws</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and/or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">regulations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">governing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trading,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">laws</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">various</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">jurisdictions,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Rule</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">204A-1</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Advisers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Act,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Rule</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">17j-1</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Act</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">1940.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">order</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employees&#8217;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">investments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">free</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">conflicts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">interest</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">full</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">laws</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">regulations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">jurisdictions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">does</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">business,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">established</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">limitations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trading.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">describes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">restrictions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">related</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">transactions.</font></font></p>
<p style="margin:0.5pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 15pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Scope</font></b></font></h1>

<p style="margin:6.05pt 13.65pt 0pt 14.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">All</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">controlled</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">otherwise</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">agreed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">bound</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">provisions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">policy.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">includes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">full-time</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">part-time,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">benefited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">non-benefited,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">non-exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">employees.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">applicability</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">consultants</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">contract</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">temporary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">interns)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">determined</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">case-by-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">case</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">basis.</font></font></p>
<p style="margin:0.55pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 15pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">General</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Requirements</font></b></font></h1>

<p style="margin:6.05pt 13.65pt 0pt 15pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">general</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">apply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">below</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">standards</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">conduct,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">comply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">additional</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">described</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">next</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">section</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(See</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><a href="#_bookmark0"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Additional</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Requirements</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">).</font></font></p>

<h2 style="margin:5.9pt 0in 0pt 32.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Fiduciary</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.75pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Duty</font></b></font></h2>

<p style="line-height:99%;margin:0.05pt 13.65pt 0pt 32.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">some</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">circumstances,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">owe</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">fiduciary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">duty</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">client.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Among</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">duties</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">owes </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">client</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">when</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">acting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">fiduciary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">behalf</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">engage</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">take</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">inappropriate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">advantage</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">his/her</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">position</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">relation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">client.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">mindful</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">obligation,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">use</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">best</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">efforts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">honor</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">it,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">promptly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Officer</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">fails</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">meet</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">obligation.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">With</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">respect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">potential</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">conflicts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">interest</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">activity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">actions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">engender,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">please</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Code</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Conduct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Business</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Conflicts</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Interest</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(Corporate</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Policy</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">I-A-035)</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;text-decoration:none;">.</font></font></p>
<p style="margin:0.3pt 0in 0pt;">&nbsp;</p>

<h2 style="margin:3.1pt 0in 0pt 33pt;text-indent:-0.25in;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Protecting</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Material</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Nonpublic</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Information</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Compliance</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">with</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Securities</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Laws</font></b></font></h2>
<p style="line-height:99%;margin:0.05pt 7.15pt 0pt 32.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">carrying</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">out your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">job</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">responsibilities,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">must,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">minimum,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">comply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">applicable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">legal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">laws.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">As</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employee,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">about</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">clients,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">parties</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">various</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">reasons</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">treated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">confidential.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">With</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">respect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">these</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">parties, you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">permitted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">divulge</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">anyone</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(except</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">permitted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">accordance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approved</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">procedures)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">positions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(different</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">rules</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">determine</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">what</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">&#8220;current&#8221;),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">anticipated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">programs </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5.95pt;">&nbsp;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">studies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">client. You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">expected</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">comply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">strictly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">measures</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">necessary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">preserve</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">confidentiality</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">information.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Code</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Conduct</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">additional</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">guidance</font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">.</font></i></font></p>
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<p style="margin:2.2pt 12.5pt 0pt 24.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">laws</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">generally</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">prohibit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">while</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">aware</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">material</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">nonpublic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">regarding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">issuer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">those</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and/or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">about</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">holdings,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">recommendations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">respect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">fiduciary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">generically</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">known</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">&#8220;insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trading.&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.7pt;">&nbsp;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">Any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">person</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">passes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">along</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">material</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">nonpublic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(&#8220;tipping&#8221;)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">liable.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">possess</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">material</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">nonpublic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">about</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">issuer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(whether</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">issuer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">another</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">company,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">client</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">supplier,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:1.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">issuer)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">issuer&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">either</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">own</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">over</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">exercise</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">discretion.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Securities</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Firewalls</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;text-decoration:none;">&nbsp;</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(Corporate</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Policy</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">I-A-046)</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">guidance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">determining</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">when</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">material</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and/or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">nonpublic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">how</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">handle</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">information.</font></font></p>
<p style="margin:0.55pt 0in 0pt;">&nbsp;</p>

<h2 style="line-height:12.2pt;margin:0in 0in 0in 24.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Trading</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">BNY</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Mellon</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Securities</font></b></font></h2>
<p style="margin:0in 17.45pt 0pt 24.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">All</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">aware</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">responsibilities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">sensitive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">even</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">appearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">impropriety.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">restrictions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">apply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">publicly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">traded</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">whether</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(i.e.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">name)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">indirectly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(see</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">indirect</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">ownership</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><a href="#_bookmark8"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Glossary</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">).</font></font></p>

<p style="line-height:11.95pt;margin:6pt 0in 0pt 42.95pt;text-indent:-17.95pt;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Short</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Sales</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></b></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">&#8211;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">You</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">prohibited</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">from</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">engaging</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">short</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">sales</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities.</font></font></p>
<p style="line-height:97%;margin:0in 32.55pt 0in 42.95pt;text-indent:-0.25in;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Short-Term</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Trading</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">purchasing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">selling</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">selling</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">purchasing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">60</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">period.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">potential</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">sanctions,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">disgorge</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">profits</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">short-term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">calculated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accordance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">procedures</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">established</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office.</font></font></p>
<p style="line-height:97%;margin:0.2pt 17.45pt 0pt 42.9pt;text-indent:-17.95pt;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Margin</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Transactions</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">purchasing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">margin;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">however,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">use</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">collateralize</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">full-recourse</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">loans</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">non-securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">acquisition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">those</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">issued</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company.</font></font></p>
<p style="line-height:96%;margin:0.15pt 17.45pt 0pt 42.9pt;text-indent:-0.25in;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Option</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Transactions</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">engaging</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">derivative</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">involving</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">having</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">issued</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">values</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">thereof),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">buying</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">writing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">over-the-counter</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">exchange</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">traded</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">options</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">.</font></font></p>
<p style="line-height:96%;margin:0.4pt 11.6pt 0pt 42.9pt;text-indent:-0.25in;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Major</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Company</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;">Events</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transacting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Company&#8217;s securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">knowledge</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">major</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">events</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">been</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">publicly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">announced.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:1.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">prohibition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">expires</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">24</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">hours</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">public</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">announcement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">made.</font></font></p>
<p style="margin:0.05pt 0in 0pt;">&nbsp;</p>

<h2 style="margin:0in 0in 0in 24.9pt;text-indent:-0.25in;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Trading</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Non-Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Securities</font></b></font></h2>
<p style="line-height:99%;margin:0.1pt 11.6pt 0pt 24.9pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">sensitive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">impropriety</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">connection</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">issuer,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">those</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">indirectly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(see</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">indirect</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">ownership</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><a href="#_bookmark8"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Glossary</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Code</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Conduct</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">restrictions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">parties</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">do</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">addition,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">front</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">running</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">scalping.</font></i></font></p>
<p style="margin:0.1pt 0in 0pt;">&nbsp;</p>

<h2 style="line-height:12.2pt;margin:0in 0in 0in 25pt;text-indent:-0.25in;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Spread</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.7pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Betting</font></b></font></h2>

<p style="margin:0in 15.75pt 0pt 24.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Taking</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">bets</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">pricing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">reflect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">movements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">activities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">mechanism</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">avoiding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">restrictions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">arising</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">provisions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">prohibited.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">themselves</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">constitute</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">provisions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">applicable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">non-exempted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions.</font></font></p>
<p style="margin:0.45pt 0in 0pt;">&nbsp;</p>

<h2 style="line-height:12.2pt;margin:0in 0in 0in 25pt;text-indent:-0.25in;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Initial</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.6pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Public</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Offerings</font></b></font></h2>

<p style="margin:0in 17.45pt 0pt 24.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">acquiring</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">allocation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">underwriter</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">initial</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:2.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">public</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">offering</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(IPO)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">without</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">some</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">cases,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Investment</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:4.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Ethics</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Council</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">(IEC).</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">only</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">given</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">when</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">allocation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">comes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">issuer,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">direct</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">family</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">relationship</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">BNY</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Mellon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employee.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">available</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">registered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">broker-dealers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">due</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">certain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">laws</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">regulations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">FINRA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">rules</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">U.S.).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">If you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">questions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">whether</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">particular</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">offering</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">constitutes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">IPO,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">consult</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">before</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">submitting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">indication</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">interest</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">security.</font></font></p>
<p style="margin:0.4pt 0in 0pt;">&nbsp;</p>

<h2 style="line-height:12.2pt;margin:0in 0in 0in 24.95pt;text-indent:-0.25in;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Private</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.85pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Placements</font></b></font></h2>

<p style="line-height:97%;margin:0.2pt 17.45pt 0pt 42.95pt;text-indent:-0.25in;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Acquisition</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">acquiring</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">private</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">placement</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">unless</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">obtain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">written</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Officer</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Operating</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:3.7pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Committee</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">member</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">represents</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">department.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">some</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">cases,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">written</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">IEC</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">order</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approval,</font></font></p>
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<p style="margin:2.2pt 17.45pt 0pt 43pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">complete</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">submit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Private</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Placement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Request</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Form,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">found</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">MySource</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">obtained</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">sending</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">email</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Help</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securitiestradingpolicyhelp@bnymellon.com</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;text-decoration:none;">.</font></font></p>
<p style="line-height:97%;margin:5.95pt 11.7pt 0pt 42.95pt;text-align:justify;text-indent:-17.95pt;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Subsequent Actions</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">participate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">subsequent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">consideration</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">credit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">issuer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">issuer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">advised account,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">disclose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Officer</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">decision</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transact</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">advised</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">independent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">review.</font></font></p>
<p style="margin:0.55pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><a name="_bookmark0"></a><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Additional</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Requirements</font></b></font></h1>

<p style="margin:6.05pt 11.6pt 0pt 6.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">imposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">additional</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">limitations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">nature</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">job</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">activities;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">therefore,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">each</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">assigned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">classification.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Classification</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">assignments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">responsibility</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">business/functional-level</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">management,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">consultation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">notify</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">designation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">into</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">one</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">more</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">classifications:</font></font></p>
<p style="line-height:11.45pt;margin:6pt 0in 0in 42.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Decision</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Maker</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(ADM)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Dreyfus/FINRA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-1.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee*</font></font></p>
<p style="line-height:11.45pt;margin:0in 0in 0in 42.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-1.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Pre-Release</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Earning</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Group</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(PREG)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee*</font></font></p>
<p style="margin:0in 0in 0in 42.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Officer*</font></font></p>
<p style="margin:0in 116.85pt 0pt 43pt;text-indent:-0.05pt;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Service</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-Classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-1.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:1.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Service</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee*</font></font></p>
<p style="margin:6pt 11.6pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">With</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">exception</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Non-Classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">classifications</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">&#8220;Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">[denoted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(*)].</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Due</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">nature</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">job</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">activities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">General</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">listed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><a href="#_bookmark1"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">A</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(Requirements</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees)</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;text-decoration:none;">.</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Non-Classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">do</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">additional</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-1.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirements.</font></font></p>
<p style="margin:0.55pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Compliance</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.2pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;">with </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">this Policy</font></b></font></h1>

<p style="margin:3.9pt 11.6pt 0pt 6.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Generally,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;"> you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">personally</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">liable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">improper</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">illegal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">acts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">committed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">during</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">course</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employment;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">non-compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">encompass</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">one</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">these</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">acts.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Accordingly,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">read</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">comply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">spirit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">strict</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">letter</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">provisions.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Failure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">comply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">result</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">imposition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">serious</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">sanctions,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">include,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">limited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">to,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">disgorgement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">profits,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">cancellation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trades,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">selling</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">positions,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">suspension</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">privileges,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">dismissal,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">referral</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">law</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">enforcement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">regulatory</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">agencies.</font></font></p>
<p style="margin:6pt 17.45pt 0pt 6.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">provisions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">worldwide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">applicability</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">cover</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">part</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">world,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">provisions of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">controlling</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">local</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">law.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">To</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">extent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">particular</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">portion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">inconsistent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">with,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">particular</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">less</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">restrictive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">laws, you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">consult</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Manager</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:4.8pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Ethics</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Office</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">.</font></font></p>
<p style="margin:0.05pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Reporting</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Violations</font></b></font></h1>

<p style="margin:6.05pt 17.45pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">To</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">known</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">suspected</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">violation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">immediately</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">contact</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:1.7pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Officer</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">known</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">suspected</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">violations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">anonymously</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">BNY</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Mellon&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Ethics</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Help</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Line</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Hot</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Line</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;text-decoration:none;">.</font></font></p>
<p style="margin:0.35pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:3.45pt 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;">Policy</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;"> Administration</font></b></font></h1>

<p style="margin:6.05pt 15.75pt 0pt 6.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Various</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">departments,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">units,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">teams,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">responsible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">managing,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">overseeing,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and/or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">providing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">support</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">administration</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">policy.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">specific</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">responsibilities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">procedural</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">these</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">various</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">administrators</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">described</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><a href="#_bookmark7"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;"> </font></font>
<a href="#_bookmark7"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;text-decoration:none;">&nbsp;</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">H</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;text-decoration:none;">.</font></font></a></p>

<h1 style="margin:2.15pt 0in 0in 7pt;"><b>&nbsp;</b></h1>

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<p style="margin:0in 0in 0pt;">&nbsp;</p></div></div>

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<div style="page-break-before:always;">&nbsp;</div>

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<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<h1 style="margin:2.15pt 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Related</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Policies</font></b></font></h1>

<p style="margin:6.05pt 0in 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Corporate</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;">Policy</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;">I-A-010:</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></u></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Code</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Conduct</font></font></p>
<p style="line-height:126%;margin:3pt 226.5pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Corporate</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;">Policy</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;">I-A-035:</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></u></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Business</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Conflicts</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Interest</font></font></p>
<p style="line-height:126%;margin:3pt 226.5pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Corporate</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;">Policy</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;">I-A-046:</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></u></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Securities</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Firewall</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Policy</font></font></p>
<p style="margin:0.45pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:3.45pt 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Ownership</font></b></font></h1>

<p style="margin:6.05pt 15.75pt 0pt 6.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">owns</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">policy.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Questions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">regarding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">directed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Help</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">phone</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">1-800-963-5191</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">email</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.9pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securitiestradingpolicyhelp@bnymellon.com</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;text-decoration:none;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">If</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">calling</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">United</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">States</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Canada,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">dial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">appropriate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">international</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">code</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">then</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">1-800-963-5191-2.</font></font></p>
<p style="margin:0.4pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Appendix</font></b></font></h1>

<p style="line-height:152%;margin:6.05pt 226.5pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">A:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font>
<a href="#_bookmark1"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Requirements</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.1pt;"> </font></font></p>

<p style="line-height:152%;margin:6.05pt 226.5pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">B:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font>
<a href="#_bookmark2"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Requirements</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">ADM</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.8pt;"> </font></font></p>

<p style="line-height:152%;margin:6.05pt 226.5pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">C:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font>
<a href="#_bookmark3"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Requirements</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Investment</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font></a></p>

<p style="line-height:152%;margin:6.05pt 226.5pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">D:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font>
<a href="#_bookmark4"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Requirements</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Insider</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Risk,</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Fund</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Service,</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Service,</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Fund</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Officer</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.7pt;"> </font></font></p>
<p style="line-height:152%;margin:6.05pt 226.5pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">E:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font>
<a href="#_bookmark4"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Requirements</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">PREG</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font></a></p>

<p style="line-height:152%;margin:6.05pt 226.5pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">F:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font>
<a href="#_bookmark5"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Trade</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Preclearance</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Requirements</font></font></a></p>

<p style="line-height:152%;margin:6pt 1.1in 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">G:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font>
<a href="#_bookmark6"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Summary</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Select</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Policy</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Requirements</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">by</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Classification</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.45pt;"> </font></font></p>
<p style="line-height:152%;margin:6pt 1.1in 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">H:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font>
<a href="#_bookmark7"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Policy</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Administration</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">&#8211;</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Roles</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Responsibilities</font></font></a></p>
<p style="line-height:152%;margin:6pt 1.1in 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">I:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font>
<a href="#_bookmark8"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Glossary</font></font></a></p>

<p align=center style="margin:3.45pt 92.75pt 0pt 93.7pt;text-align:center;"><a name="_bookmark1"></a></p>

<div>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>

<a name="page_5"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p align=center style="margin:3.45pt 92.75pt 0pt 93.7pt;text-align:center;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12pt;letter-spacing:-0.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12pt;">A</font></font></p>

<p style="margin:0in 0in 0pt;">&nbsp;</p>

<p align=center style="margin:0in 92.75pt 0pt 93.55pt;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:-0.05pt;">Requirements</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:0.05pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:-0.05pt;">for</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:-0.05pt;">Monitored</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:-0.05pt;">Employees</font></b></font></p>

<p style="margin:0.1pt 0in 0pt;">&nbsp;</p>

<p style="line-height:104%;margin:0in 15.75pt 0pt 6.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">General</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">described</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(i.e.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Non-Classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirements:</font></font></p>
<p style="margin:0.4pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Monitored</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Personal</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.1pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Trading</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:0.1pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Activity</font></b></font></h1>

<p style="line-height:104%;margin:6.65pt 17.45pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">order</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">laws</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">avoid</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">even</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">appearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">conflict</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">interest,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">monitors</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">activities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">electronically</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">via</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Assistant</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(PTA)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">System.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">grant</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">secure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">so</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">fulfill</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">described</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">below.</font></font></p>
<p style="margin:0.4pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;">PTA</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Reporting</font></b></font></h1>

<h2 style="line-height:12.2pt;margin:6pt 0in 0in 24.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Initial</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.8pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Reporting</font></b></font></h2>

<p style="margin:0in 13.05pt 0pt 24.9pt;text-indent:0.05pt;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">10</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">being</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">assigned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">classification,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">file</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Initial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Broker</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Initial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PTA.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Initial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Broker</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">contain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">capable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">indirect</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">ownership</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Initial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">contain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">aforementioned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">these</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">physical</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">safe</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">deposit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">box,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">paper</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">certificates,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">etc.).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Both</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Initial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Broker</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Initial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accurate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">recording</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">last</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">45</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">receiving</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">classification.</font></font></p>
<p style="margin:5.9pt 17.45pt 0pt 24.9pt;"><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Employees</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">required</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">report</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">any</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">directly-</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">indirectly-owned</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">that</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:3.9pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">capability</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">holding</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">(excluding</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">exempt</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">),</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">regardless</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">what</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:3.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">currently</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">holding.</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:2.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">For</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">example,</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">if</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">account</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">contains</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">only</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">exempt</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">but</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">has</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:4.1pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">capability</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">holding</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">non-exempt</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities,</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">account</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">must</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">reported</font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">.</font></font></p>
<h2 style="margin:6.05pt 0in 0pt 24.9pt;text-indent:-0.25in;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Annual</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.8pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Reporting</font></b></font></h2>

<p style="margin:0.05pt 13.05pt 0pt 24.85pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">On</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">annual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">basis</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">30</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;"> after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">year,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">file</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Annual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PTA.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Annual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">contain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">capable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">indirect</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">ownership</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Annual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">contain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">aforementioned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">physical</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">safe</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">deposit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">box,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">paper</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">certificates,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">etc.).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">included</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">45</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">days of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">date</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">submitted.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Additionally,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">part</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">annual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirement,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">certify</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">read,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">understand,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">complied</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">policy.</font></font></p>
<p style="margin:0.45pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Updating</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;"> PTA</font></b></font></h1>

<h2 style="line-height:12.2pt;margin:6pt 0in 0in 24.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">New</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Accounts</font></b></font></h2>

<p style="margin:0in 17.45pt 0pt 24.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">responsible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">adding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">soon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">possible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">new</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">brokerage</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">opened</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Initial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Broker</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">been</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">submitted.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">requirement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">applies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">both</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">indirect</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:3.65pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">ownership</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">.</font></font></p>
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<h2 style="line-height:12.15pt;margin:2.15pt 0in 0in 24.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Gifts</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Inheritances</font></b></font></h2>

<p style="margin:0in 14.55pt 0pt 24.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">give</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">gift</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">inheritance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">includes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">activity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:1.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">10</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">days.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">disclose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">name</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">person</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">receiving</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">giving</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">gift</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">inheritance,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">date</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transaction,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">name</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">broker</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">was</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">effected</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">applicable).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">gift</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">one</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">where</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">donor</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">does</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">anything</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">monetary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">return</font></font><font face="times new roman"><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">.</font></font></p>
<h2 style="line-height:12.15pt;margin:6.1pt 0in 0in 24.95pt;text-indent:-0.25in;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Updating</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.9pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Holdings</font></b></font></h2>

<p style="margin:0in 9.25pt 0pt 24.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">update</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">changes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">occur</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">result</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">corporate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">actions,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">dividend</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">reinvestments,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">similar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">activity.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">These</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">adjustments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">reported</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">soon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">possible,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">no</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">less</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">annually</font></font><font color=#00b0f0 face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">.</font></font><font color=#00b0f0 face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Non-U.S.-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Service</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Officer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">submit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Local</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Compliance,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">receipt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">broker,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">confirmations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">contract</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">notes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">non-exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-1.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities.</font></font></p>
<p style="margin:0.4pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Approved</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Broker-Dealers</font></b></font></h1>

<p style="margin:6.05pt 11.6pt 0pt 6.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">All</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">U.S.-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">maintain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">directly-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">indirectly-owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">brokerage</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">specific</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">broker-dealers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">been</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approved</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">company.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">living</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">U.S.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">requirement.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">U.S.-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">MySource</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">obtain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">list</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approved</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">broker-dealers.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">Any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">exceptions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approved,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">writing,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Office.</font></font></p>
<p style="margin:0.55pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Account Statements</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:0.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Trade</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:0.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Confirmations</font></b></font></h1>

<p style="margin:6.05pt 11.6pt 0pt 6.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">U.S.-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">exception</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approved</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">broker-dealer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">process</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">moving</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">account(s)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approved</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">broker-dealer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">instruct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">non-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approved</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">broker-dealer,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trust</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">manager,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">entity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">holding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">submit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">duplicate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">statements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">confirmations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">company.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Non-U.S.-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">submit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">confirmations/contract</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">notes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">statements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Local</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Compliance.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">requirement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">applies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">both</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">directly-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">indirectly-owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">includes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">capability</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">holding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">regardless</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">what</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">currently</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">holding.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">those</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">issuer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">maintained</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">paper</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">certificate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">form),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">comply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">request</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">confirm</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">holdings.</font></font></p>
<p style="margin:0.5pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Classification-Specific</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:0.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Requirements</font></b></font></h1>

<p style="margin:6.05pt 17.45pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">General</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">preceding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">ADM,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Investment,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Risk,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Service,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Service,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Officer,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">adhere</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">assigned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">classification(s).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendices</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">B</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">E</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">specific</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">additional</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">assigned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">classification(s).</font></font></p>
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<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;">Summary</font></b></font></h1>

<p style="margin:6.05pt 0in 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font>
<a href="#_bookmark6"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">G</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">summary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">select</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">classification.</font></font></p>
<p align=center style="margin:2.95pt 92.75pt 0pt 93.7pt;text-align:center;"><a name="_bookmark2"></a></p>

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<p style="margin:0in 0in 0pt;">&nbsp;</p></div></div>

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<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p align=center style="margin:2.95pt 92.75pt 0pt 93.7pt;text-align:center;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12pt;letter-spacing:-0.05pt;">Appendix</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12pt;letter-spacing:-0.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12pt;">B</font></font></p>

<p align=center style="margin:6pt 92.75pt 0pt 93.55pt;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:-0.05pt;">Requirements</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:0.05pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:-0.05pt;">for</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:0.15pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:-0.15pt;">ADM</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12pt;letter-spacing:-0.05pt;"> Employees</font></b></font></p>

<p style="margin:6.05pt 17.45pt 0pt 7pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">General</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(</font></font><a href="#_bookmark1"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">A</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">requirements:</font></font></p>
<h1 style="margin:5.95pt 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Proprietary</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Funds</font></b></font></h1>

<p style="line-height:104%;margin:4.5pt 9.65pt 0pt 6.95pt;text-indent:0in;"><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">non-exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">As</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">such,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">brokerage</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">mutual&nbsp;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">company.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">list</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">published</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">MySource</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">obtained</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">sending</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:1.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">email</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Help</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">securitiestradingpolicyhelp@bnymellon.com</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;text-decoration:none;">.</font></font></p>
<h1 style="margin:5.3pt 0in 0pt 9.75pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;">PTA</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Reporting</font></b></font></h1>

<h2 style="line-height:12.2pt;margin:0in 0in 0in 24.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Quarterly</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-1pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Reporting</font></b></font></h2>

<p style="margin:0in 11.45pt 0pt 24.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Initial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Annual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">completed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Reporting.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">On</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">basis</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">30</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">quarter,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">file</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Transactions </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:1.5pt;">&nbsp;&nbsp;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PTA.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">contain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">following:</font></font></p>
<p style="line-height:11.6pt;margin:5.85pt 9.25pt 0pt 42.95pt;text-indent:-0.25in;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">occurred</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">throughout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">recent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">quarter;</font></font></p>
<p style="line-height:11.4pt;margin:0.05pt 17.45pt 0pt 42.95pt;text-indent:-0.25in;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">capable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">indirect</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">ownership</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">;</font></font></p>
<p style="line-height:93%;margin:0.4pt 17.45pt 0pt 42.95pt;text-indent:-0.25in;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">aforementioned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and;</font></font></p>
<p style="line-height:93%;margin:0.45pt 25.9pt 0pt 42.95pt;text-indent:-0.25in;"><font face="courier new"><font lang=EN-US style="font-size:10pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">aforementioned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:5.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">physical</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">safe</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">deposit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">box,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">paper</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">certificates,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">etc.).</font></font></p>
<p style="margin:6.15pt 17.45pt 0pt 24.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">All</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">reported</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">45</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">date</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">submitted.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Additionally,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">part</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">requirement,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">certify</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">read,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">understand,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">complied</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">policy.</font></font></p>
<p style="margin:0.5pt 0in 0pt;">&nbsp;</p>

<h1 style="margin:0in 0in 0in 7pt;"><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Preclearing</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.05pt;">Trades </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;letter-spacing:-0.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12pt;">PTA</font></b></font></h1>

<p style="line-height:99%;margin:3.9pt 17.45pt 0pt 6.95pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">executing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Funds</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><a href="#_bookmark5"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">F</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">see</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">below</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">details</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">regarding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">de</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">minimis</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Fund</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">401(k)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">plan.</font></font></p>
<h2 style="line-height:12.2pt;margin:6.05pt 0in 0in 24.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">De</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.65pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Minimis</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.6pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Transactions</font></b></font></h2>

<p style="margin:0in 13.85pt 0pt 24.95pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">ADM</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">will</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">generally</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">not</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">given</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">preclearance</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approval</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">execute</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">transaction</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">security</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">which</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">there</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">pending</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">buy</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">sale</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">order</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">for</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">affiliated</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">account</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(other</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">than</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">an </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">index</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:2.45pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">fund</font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">)</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">business</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">unit</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">where</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">ADM</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">has</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">access</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">information</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">about</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">pending</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.6pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:1.95pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">In</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">certain</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">circumstances,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Preclearance</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Compliance</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Officer</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.1pt;">may</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.55pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">approve</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">certain</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">de</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:3.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">minimis</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transactions</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">even</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">when</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">firm</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trading</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">such</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">securities.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.15pt;"> </font></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Some</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">ADM</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Employees </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:3.1pt;">&nbsp;</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">who</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">also</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Portfolio</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Managers</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">may</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">not</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">eligible</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">for</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">de</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">minimis</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.1pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">exemption.</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:2.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Questions</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">should</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:4.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">be</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">directed</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Preclearance</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Compliance</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Officer</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">or</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Ethics</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Office.</font></i></font></p>
<h2 style="line-height:12.05pt;margin:6pt 0in 0pt 42.95pt;text-indent:-0.25in;"><font face="courier new"><font style="font-size:10pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">Restrictions</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.7pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.05pt;">and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;letter-spacing:-0.65pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10pt;">Conditions</font></b></font></h2>

<p style="line-height:11.8pt;margin:0in 0in 0in 60.95pt;text-indent:-0.25in;"><font face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">executing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transaction.</font></font></p>
<p style="line-height:11.5pt;margin:0.7pt 13.05pt 0pt 60.95pt;text-indent:-0.25in;"><font face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">If</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">transaction</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">is</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">60</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">day</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trade,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">recognized</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">profit</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">disgorgement</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">will</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">be</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">applicable.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.45pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">(Refer</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:3.8pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">next</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">section</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">this</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">policy</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">for</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">information</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">about</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">profit</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">disgorgement</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">on</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">short-term</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:3.05pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trades.)</font></i></font></p>
<p style="line-height:100%;margin:0in 11.6pt 0pt 60.95pt;text-indent:-0.25in;"><font face=symbol style="line-height:100%;"><font face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Preclearance</font></i></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></i></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Compliance</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Officers</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></i></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">are</font></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">limited</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">applying</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">this</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">de</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">minimis</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">standard</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">only</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.5pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">two</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:4.65pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">trades</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">securities</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">any</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">one</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">issuer</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">each</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">calendar</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">month.</font></font></font></p>
<p style="line-height:11.5pt;margin:0.75pt 11.6pt 0pt 60.95pt;text-indent:-0.25in;"><font face=symbol><font lang=EN-US style="font-size:10pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">Employees</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">must</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">cooperate</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">with</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.35pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Preclearance</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;">Compliance</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">Officer&#8217;s</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10pt;letter-spacing:-0.3pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">request</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:0.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">document</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:2.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">market</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.7pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.05pt;">capitalization</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;letter-spacing:-0.7pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10pt;">amounts.</font></font></p>
<h2 style="line-height:12pt;margin:3.1pt 0in 0pt 42.95pt;text-indent:-17.95pt;"><b>&nbsp;</b></h2>

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<p style="margin:0in 0in 0pt;">&nbsp;</p></div></div>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<h2 style="line-height:12.0pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:0in;margin-top:3.1pt;text-indent:-17.95pt;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Transaction</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.9pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Limits</font></b></font></h2>

<p style="line-height:99%;margin:0in;margin-bottom:.0001pt;margin-left:43.0pt;margin-right:11.6pt;margin-top:0in;text-indent:-.05pt;"><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">following</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transaction</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">limit</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">available</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">de</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">minimis</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exception:</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">dollar</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">value</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.65pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transacting</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">100</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">shares</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">or</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">$10,000</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(whichever</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">value</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">greater)</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.75pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">$5</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">billion</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">or</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">higher.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Currency</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">listed</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">in</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">USD.</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">For</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">all</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">countries,</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">use</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.95pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">local</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">currency&#8217;s</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">USD</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">equivalent</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and/or</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">U.S.</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">share</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">amount.</font></i></font></font></p>
<h2 style="line-height:12.2pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:3.9pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Transactions</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">the</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Company&#8217;s</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">401(k)</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></b></font></h2>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">situations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trades.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">However,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">treatment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Fund</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">401(k)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">dependent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">type</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan.</font></font></p>

<h2 style="line-height:11.5pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:32.55pt;margin-top:.05pt;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><i><font style="font-size:10.0pt;letter-spacing:-.05pt;">Non-Self-Directed</font></i></b></font><font face=Arial,sans-serif><b><i><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></b></font><font face=Arial,sans-serif><b><i><font style="font-size:10.0pt;">Accounts</font></i></b></font><font face=Arial,sans-serif><b><i><font style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></i></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">(Includes</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Tier</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">1</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">-</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">LifePath</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Index</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Funds,</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Tier</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">2</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">-</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Passively</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:3.85pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Managed</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"></font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Index</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Funds,</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Tier</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">3</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">-</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;"> Actively</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"></font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Managed</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Funds)</font></b></font></h2>

<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">movements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">balances</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">into</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">out</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ProprietaryFunds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchases</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">redemptions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">those</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">holding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirement,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">general</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirement.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Accordingly,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">do</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">need</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">these</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">movements,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">get</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Preclearance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Officer</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">it</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">60</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">opposite</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">same</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">fund.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">lieu</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reporting,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">consent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">obtaining</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">records.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">movements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reflected</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reports.</font></font></p>
<p style="line-height:11.5pt;margin:0in;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:25.9pt;margin-top:6.05pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Self-Directed</font></i></b></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></i></b></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;">Accounts</font></i></b></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">(Tier</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">4</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Large</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Selection</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">of</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Mutual</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Funds</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Exchange</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Traded</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds)</font></b></font></p>

<p style="line-height:101%;margin-bottom:0in;margin-left:42.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Treated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">like</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Fund</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">means</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reporting,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">holding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">apply.</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:5.85pt;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Profit
Disgorgement</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">on</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Short-Term</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Trading</font></b></font></h1>

<p style="margin-bottom:.0001pt;margin-left:6.95pt;margin-right:11.6pt;margin-top:3.9pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profits</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recognized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchasing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">then</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">selling</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">selling</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">then</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchasing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">same</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">equivalent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(derivative)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">60</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorged.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disgorgement,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recognition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">difference</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">between</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prices</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Accordingly,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recognition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorgement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">differ</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capital</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">gains</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">calculations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">tax</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purposes.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Sixty-day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">BNY</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Mellon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">401(k)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorgement.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disposition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorged</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profits</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">discretion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">responsible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">tax</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">related</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">costs.</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:6.0pt;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Initial</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Public</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Offerings</font></b></font></h1>

<p style="margin-bottom:.0001pt;margin-left:6.95pt;margin-right:15.75pt;margin-top:3.8pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">IEC</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">acquiring</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">allocation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">underwriter</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">initial</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">public</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">offering</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">.</font></font></p>
<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:6.15pt;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Private</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Placements</font></b></font></h1>

<h2 style="line-height:12.2pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:3.85pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Acquisition</font></b></font></h2>

<p style="line-height:101%;margin:0in;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:0in;"><font face=arial,sans-serif style="line-height:101%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font></font><font face=arial,sans-serif style="line-height:101%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font></font><font face=arial,sans-serif style="line-height:101%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">receive</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">IEC</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prior</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">acquiring</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">private</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.65pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">placement</font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">.</font></font></font></p>

<h2 style="line-height:12.15pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:3.75pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Approval</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-1.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Considerations</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:6.85pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">IEC</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">generally</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">approve</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">managed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">authorized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">invest</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">complex.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">IEC</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">take</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">into</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">specific</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">facts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">circumstances</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">request</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reaching</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">decision</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">whether</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">authorize</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">private</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">placement</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investment.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">These</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">factors</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">include,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">among</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">things,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">whether</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">opportunity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">being</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">offered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">individual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">virtue</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">position</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">affiliates</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">relationship</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">managed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">whether</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">opportunity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">being</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">offered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">could </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.0pt;">&#160;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">re-allocated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">client.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">comply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and/or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">documentation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">necessary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">IEC</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">satisfy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">itself</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">no</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">actual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">potential</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">conflict,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">appearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">conflict,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exists</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">between</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">proposed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">private</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">placement</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">interests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">managed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">account.</font></font></p>

<h2 style="line-height:12.15pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:3.75pt;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Approval</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">to</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Continue</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">to</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Hold</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Existing</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Investments</font></b></font></h2>

<p style="line-height:100%;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">90</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">being</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">designated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">holding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">private</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">placement</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.1pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">request</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">written</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">authorization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">IEC
</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">continue</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">hold</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">these</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.95pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities.</font></font></p>








<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:2.25pt;"><b>&nbsp;</b></h1>
<div>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<div style="page-break-before:always;">&nbsp;</div><a name="page_9"></a><div style="padding-left:0%;padding-right:0%;width:100%;">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:2.25pt;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Additional</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Reporting</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.1pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Requirements</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">for</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.15pt;">ADM</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;"> Employees</font></b></font></h1>
<p style="margin:0in;margin-bottom:.0001pt;margin-left:6.95pt;margin-right:15.75pt;margin-top:3.9pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">two</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">additional</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reporting</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirements.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.85pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">These</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirements</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">described</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">below.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.5pt;"> </font></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">It</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">ADM</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employee&#8217;s</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">responsibility</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">confirm</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">with</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Compliance</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"></font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">whether</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">he</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">she</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">required</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">comply</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">with</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">below</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">additional</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">reporting</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">requirements.</font></i></font></p>
<h2 style="line-height:12.15pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:3.85pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Special</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Purpose</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.1pt;">ADM</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Quarterly</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Report</font></b></font></h2>
<p style="line-height:100%;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:9.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">submit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Preclearance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Officer</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8220;Special</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Purpose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Report.&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">form</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">completing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtained</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Officer</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">MySource,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">emailing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.25pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Help</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securitiestradingpolicyhelp@bnymellon.com</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;text-decoration:none;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">submitted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">30</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">each</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">quarter&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">includes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and/or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indirectly.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">contain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on:</font></font></p>

<p style="line-height:11.5pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:60.0pt;margin-top:3.95pt;text-indent:-17.95pt;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">time</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">during</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarter,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">were</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">either</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recommended</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">managed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">during</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarter.</font></font></p>

<p style="line-height:11.6pt;margin:0in;margin-bottom:.0001pt;margin-left:42.95pt;text-indent:-17.95pt;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Holdings</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">private</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">placements</font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">.</font></font></p>
<p style="line-height:92%;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:11.6pt;margin-top:.25pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">was</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">equal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">less</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">$250</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">million.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">countries,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">use</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">local</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">currency&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">USD</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">equivalent.</font></font></p>
<p style="line-height:11.5pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:25.9pt;margin-top:.2pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Exemption</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">do</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">need</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">defined</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;">
</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">security</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">otherwise</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">expressly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance.</font></font></p>
<h2 style="line-height:12.2pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:5.85pt;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Contemporaneous</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-1.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Disclosure</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">making</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">acting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recommendation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">buy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">hold,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sell)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">indirectly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">owned,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">written</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">authorization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtained.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reason</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disclosure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">consider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">whether</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recommendation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purpose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">affecting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">holding.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:13.05pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Contemporaneous</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Disclosure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">forms</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtained</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Officer</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">MySource,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">emailing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Help</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securitiestradingpolicyhelp@bnymellon.com</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;text-decoration:none;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">no</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">circumstances</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">provide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recommendations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">place</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">potential</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">impact</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">his/her</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">holdings,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">nor</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">he</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">she</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">refuse</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">take</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">action</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">avoid</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">submitting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Contemporaneous</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Disclosure.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fiduciary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">duty</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">make</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recommendations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">solely</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">best</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interest</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">client</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">always</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">take</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">precedence.</font></font></p>

<h2 style="line-height:12.0pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:0in;margin-top:3.7pt;text-indent:-17.95pt;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Approval</font></b></font></h2>

<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:11.6pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtained</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employee&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">CIO</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">CEO,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">designee,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">first</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recommendation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">particular</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">month.</font></font></p>

<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:11.6pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Disclosure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">forms</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">subsequent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">same</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">remainder</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">month</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">so</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">long</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchases/sells</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolios</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">do</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exceed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">maximum</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">number</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">shares,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">options</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">bonds</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disclosed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disclosure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">form.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">If</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">seeks</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">effect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">makes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recommendation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">direction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">opposite</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disclosure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">form,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">new</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disclosure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">form</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">completed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recommendation.</font></font></p>
<h2 style="line-height:11.85pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:-17.95pt;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Exemption</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">to</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">the</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Contemporaneous</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Disclosure</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Requirement</font></b></font></h2>
<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">index</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">fund</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">managers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">no</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">discretion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">replicating</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">index</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">model</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">clone</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">do</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">need</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">comply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disclosure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirement.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exemption</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">does</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">apply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">circumstances:</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:27.55pt;margin-top:0in;text-align:justify;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">If</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recommends</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">clone</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">model</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recommends</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">model</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">clone</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">different</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">percentage</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">model</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">clone</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">amounts.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:61.0pt;margin-right:41.55pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">If</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recommends</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">individual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">clients,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">even</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">control</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">process</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">parties.</font></font></p>
<h2 style="line-height:12.0pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:0in;margin-top:5.9pt;text-indent:-17.95pt;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Exempt</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Reporting</font></b></font></h2>

<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Certain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">submit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Contemporaneous</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Disclosure.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">They</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are:</font></font></p>

<p style="line-height:12.15pt;margin:0in;margin-bottom:.0001pt;margin-left:60.95pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Exempt</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">defined</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><a href="#_bookmark8"><font color=windowtext face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Glossary</font></font><font color=windowtext face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;text-decoration:none;">.</font></font></a></p>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:11.6pt;margin-top:0in;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">debt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">do</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">conversion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">feature</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">rated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">grade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">better</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">nationally</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recognized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">statistical</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">rating</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">organization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">unrated,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">comparable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">quality.</font></font></p>







<p style="line-height:12.2pt;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:0in;margin-top:2.25pt;text-indent:-17.95pt;"><a name="_bookmark3"></a></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="line-height:12.2pt;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:0in;margin-top:2.25pt;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">equity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following:</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:75.4pt;margin-right:28.6pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">U.S.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">top</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">200</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">issuers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Russell</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">list</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">$20</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">billion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">higher.</font></font></p>
<p style="line-height:11.4pt;margin-bottom:.0001pt;margin-left:75.35pt;margin-right:25.9pt;margin-top:1.0pt;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">U.K.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">top</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">100</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">FTSE</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">All</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Share</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Index</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#163;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">USD</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">equivalent.</font></font></p>
<p style="line-height:11.4pt;margin-bottom:.0001pt;margin-left:75.35pt;margin-right:41.55pt;margin-top:.85pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Japan,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">top</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">100</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">TOPIX</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#165;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">USD</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">equivalent.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:75.4pt;margin-right:17.45pt;margin-top:0in;text-indent:-18.05pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Brazil,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">IBr-X</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">R</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">USD</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">equivalent.</font></font></p>
<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:5.8pt;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Restrictions</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">for</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.15pt;">ADM</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;"> Employees</font></b></font></h1>

<h2 style="line-height:12.2pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:3.0pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">7</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Day</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Blackout</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Period</font></b></font></h2>

<p style="line-height:12.0pt;margin:0in;margin-bottom:.0001pt;margin-left:42.95pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Prohibition</font></b></font></p>

<p style="line-height:99%;margin-bottom:0in;margin-left:42.95pt;margin-right:11.6pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">It</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">impermissible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">buy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sell</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indirectly)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">7</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">before</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">7</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investment</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">company</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">managed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">effected</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">known</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">&#8220;7</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Blackout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Period.&#8221;</font></font></p>
<h2 style="line-height:11.9pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Disgorgement</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-1.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Required</font></b></font></h2>

<p style="line-height:99%;margin-bottom:0in;margin-left:42.95pt;margin-right:12.7pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">If</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">initiates</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">7</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Blackout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Period,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">being</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sanctions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">violating</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profits</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recognized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disgorged</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accordance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">guidance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">provided</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">IEC</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">IEC</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">determined</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorgement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirement:</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:25.9pt;margin-top:.05pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">U.S.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">dollar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transacting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">100</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">$10,000</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(whichever</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">greater)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">$5</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">billion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">higher.</font></font></p>

<p style="line-height:11.4pt;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:21.1pt;margin-top:1.0pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">countries,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">greater</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">USD</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">equivalent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">100</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">USD</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">equivalent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization.</font></font></p>

<h2 style="line-height:11.7pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Exemption</font></b></font></h2>

<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:12.7pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Managers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">manage</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">broad-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">index</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">funds</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">replicate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exactly,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">clone,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">model,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">7</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Blackout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Period.</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:5.85pt;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Additional</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Requirements</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">for</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Micro-Cap</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.1pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.15pt;">ADM</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;"> (MCADM) Employees ONLY</font></b></font></h1>

<h2 style="margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:3.0pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Transactions</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Holdings</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Micro-Cap</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></b></font></h2>

<p style="line-height:99%;margin:0in;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:.1pt;"><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recognition</font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">potential</font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">price</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">volatility</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">micro-cap</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requires</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.65pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approvals</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtained</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">MCADM</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">placing</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">direct</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">indirectly</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">owned</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">accounts.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">thresholds</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">listed</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">below.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Currency</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.55pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">listed</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">in</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">USD.</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">all</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">countries,</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">use</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">local</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">currency&#8217;s</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">USD</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">equivalent.</font></i></font></font></p>
<h2 style="line-height:11.95pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Threshold</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">1</font></b></font></h2>

<p style="line-height:101%;margin-bottom:0in;margin-left:42.95pt;margin-right:11.6pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Without</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">written</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">IEC</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">MCADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">$100</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">million</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">less.</font></font></p>

<h2 style="line-height:11.65pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Threshold</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">2</font></b></font></h2>

<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:11.6pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Without</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">written</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">immediate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">supervisor</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Chief</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(CIO),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">MCADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">more</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">$100</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">million</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">less</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">equal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">$250</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">million.</font></font></p>
<h2 style="line-height:11.9pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Exemption</font></b></font></h2>

<p style="line-height:99%;margin-bottom:0in;margin-left:42.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Micro-cap</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">acquired</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">involuntarily</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">inheritance,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">gift,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">spin-off,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">etc.)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">these</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">above</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">restrictions;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">however,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disclosed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">memo</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.6pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Officer</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">10</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">involuntary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">acquisition.</font></font></p>
<h2 style="margin-bottom:.0001pt;margin-left:24.9pt;margin-right:0in;margin-top:3.9pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Requirement</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">for</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Newly</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Designated</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">MCADM</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></b></font></h2>
<p style="line-height:99%;margin-bottom:.0001pt;margin-left:24.9pt;margin-right:11.6pt;margin-top:.05pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Newly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">designated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">MCADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">CIO</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Chief</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Executive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.05pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">provide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">copy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Officer</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">continue</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">holding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">micro-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">cap</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">equal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">less</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">$250</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">million.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">countries,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">use</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">local</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">currency&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">USD</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">equivalent.</font></font></p>







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<div style="page-break-before:always;">&nbsp;</div><a name="page_11"></a><div style="padding-left:0%;padding-right:0%;width:100%;">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


</div>
<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:93.65pt;margin-right:92.75pt;margin-top:2.15pt;text-align:center;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Appendix</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">C</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">&nbsp;</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:93.7pt;margin-right:92.75pt;margin-top:0in;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Additional</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Requirements</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">for</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Investment Employees</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.15pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<p style="line-height:99%;margin-bottom:.0001pt;margin-left:7.0pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">General</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(</font></font><a href="#_bookmark1"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">A</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirements:</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:0in;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Proprietary</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Funds</font></b></font></h1>

<p style="line-height:104%;margin-bottom:.0001pt;margin-left:7.0pt;margin-right:11.6pt;margin-top:6.55pt;text-indent:0in;"><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">non-exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">As</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">brokerage</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">mutual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">list</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">published</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">MySource</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtained</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sending</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">email</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Help</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.85pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securitiestradingpolicyhelp@bnymellon.com</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;text-decoration:none;">.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-top:.35pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:6.5pt;">&nbsp;</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:3.45pt;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">PTA</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Reporting</font></b></font></h1>

<h2 style="margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:6.0pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Quarterly</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-1.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Reporting</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:.05pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Initial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Annual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">completed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Reporting.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">On</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">basis</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">30</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarter,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">file</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.0pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PTA.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">contain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following:</font></font></p>
<p style="line-height:11.6pt;margin-bottom:.0001pt;margin-left:43.0pt;margin-right:9.25pt;margin-top:6.0pt;text-indent:-18.05pt;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">occurred</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">throughout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarter;</font></font></p>
<p style="line-height:11.3pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:17.45pt;margin-top:.15pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">capable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indirect</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ownership</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">;</font></font></p>
<p style="line-height:93%;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:17.45pt;margin-top:.45pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">aforementioned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accounts,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and;</font></font></p>
<p style="line-height:11.6pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:25.9pt;margin-top:.1pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">aforementioned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">physical</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">safe</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deposit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">box,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">paper</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">certificates,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">etc.).</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:5.8pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">All</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reported</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">45</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">date</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">submitted.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Additionally,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">part</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirement,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">certify</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">read,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">understand,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">complied</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy.</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:0in;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Preclearing</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Trades </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.15pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;">PTA</font></b></font></h1>

<p style="line-height:99%;margin-bottom:.0001pt;margin-left:6.95pt;margin-right:17.45pt;margin-top:6.1pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">executing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.5pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><a href="#_bookmark5"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">F</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">see</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">below</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">details</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">regarding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">de</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">minimis</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">P</font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">roprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">401(k)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan.</font></font></p>

<h2 style="margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:6.05pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">De</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Minimis</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Transactions</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:.05pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">generally</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">given</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">execute</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">there</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">pending</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">buy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">order</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">affiliated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.95pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">index</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">fund</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">unitwhere</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">about</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">pending</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">certain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">circumstances,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Preclearance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Officer</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">approve</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">certain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">de</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">minimis</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">even</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">when</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">firm</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities.</font></font></p>

<h2 style="line-height:12.05pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:0in;margin-top:5.9pt;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Restrictions</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Conditions</font></b></font></h2>

<p style="line-height:11.85pt;margin-bottom:0in;margin-left:60.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">executing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction.</font></font></p>

<p style="line-height:12.1pt;margin-bottom:0in;margin-left:60.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">If</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">60</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trade,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recognized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disgorgement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">applicable.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:11.6pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Compliance</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Officers</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">limited</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">applying</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">de</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">minimis</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">standard</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">only</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">two</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.55pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">one</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">issuer</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">each</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">month.</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:11.6pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">cooperate</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Preclearance</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Compliance</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Officer&#8217;s</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">request</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">document</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.45pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">amounts.</font></font></p>








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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<h2 style="line-height:11.95pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:0in;margin-top:3.1pt;text-indent:-17.95pt;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Transaction</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.9pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Limits</font></b></font></h2>

<p style="line-height:99%;margin:0in;margin-bottom:.0001pt;margin-left:43.0pt;margin-right:17.45pt;margin-top:0in;text-indent:-.05pt;"><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">below</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">limits</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">available</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">de</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">minimis</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exception.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;"> </font></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Currency</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">listed</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.45pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">USD.</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">For</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">all</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">countries,</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">use</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">local</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">currency&#8217;s</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">USD</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">equivalent</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">and/or</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">U.S.</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">share</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">amount.</font></i></font></font></p>
<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:32.55pt;margin-top:.15pt;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">up</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">$50,000</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">having</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">$20</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">billion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">more.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:21.1pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">dollar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transacting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">250</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">$25,000</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(whichever</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">greater)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">having</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">between</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">$5</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">billion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">$20</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">billion.</font></font></p>

<p style="line-height:11.4pt;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:21.1pt;margin-top:1.0pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">dollar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transacting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">100</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">$10,000</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(whichever</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">greater)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">having</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">between</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">$250</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">million</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">$5</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">billion.</font></font></p>

<h2 style="line-height:12.15pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:5.75pt;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Transactions</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">the</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Company&#8217;s</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">401(k)</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></b></font></h2>
<p style="line-height:100%;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">situations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">However,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">treatment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">401(k)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">dependent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">type</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan.</font></font></p>
<h2 style="line-height:92%;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:32.55pt;margin-top:.45pt;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><i><font style="font-size:10.0pt;letter-spacing:-.05pt;">Non-Self-Directed</font></i></b></font><font face=Arial,sans-serif><b><i><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></b></font><font face=Arial,sans-serif><b><i><font style="font-size:10.0pt;">Accounts</font></i></b></font><font face=Arial,sans-serif><b><i><font style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></i></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">(Includes</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Tier</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">1</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">-</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">LifePath</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Index</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Funds,</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Tier</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">2</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">-</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Passively</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:3.85pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Managed</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"></font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Index</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Funds,</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Tier</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">3</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">-</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;"> Actively</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"></font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Managed</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Funds)</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:42.95pt;margin-right:11.6pt;margin-top:.15pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">movements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">balances</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">into</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">out</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ProprietaryFunds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchases</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">redemptions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">those</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">holding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">general</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirement.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Accordingly,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">do</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">need</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">these</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">movements,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> you </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">get</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Officer</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">it</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">60</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">daysof</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">opposite</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">same</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">fund.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">lieu</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reporting,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">consent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">obtaining</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">records.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">movements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reflected</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reports.</font></font></p>
<p style="line-height:11.5pt;margin:0in;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:25.9pt;margin-top:5.9pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Self-Directed</font></i></b></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></i></b></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;">Accounts</font></i></b></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">(Tier</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">4</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Large</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Selection</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">of</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Mutual</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Funds</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Exchange</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Traded</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds)</font></b></font></p>

<p style="line-height:101%;margin-bottom:0in;margin-left:42.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Treated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">like</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Fund</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">means</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reporting,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">holding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">apply.</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.2pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:0in;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Profit Disgorgement</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">on</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Short-Term</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Trading</font></b></font></h1>

<p style="margin-bottom:.0001pt;margin-left:6.95pt;margin-right:11.6pt;margin-top:6.05pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profits</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recognized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchasing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">then</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">selling</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">selling</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">then</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchasing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">same</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">equivalent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(derivative)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">60</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorged.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disgorgement,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recognition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">difference</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">between</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prices</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Accordingly,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recognition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorgement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">differ</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capital</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">gains</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">calculations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">tax</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purposes.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Sixty-day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">BNY</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Mellon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">401(k)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorgement.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disposition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorged</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profits</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">discretion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">responsible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">tax</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">related</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">costs.</font></font></p>









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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<div style="page-break-before:always;">&nbsp;</div><a name="page_13"></a><div style="padding-left:0%;padding-right:0%;width:100%;">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:93.65pt;margin-right:92.75pt;margin-top:2.15pt;text-align:center;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Appendix</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">D</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">&nbsp;</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:39.2pt;margin-right:38.05pt;margin-top:0in;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Requirements</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:.05pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">for</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Insider</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Risk,</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Fund</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Service,</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Service,</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">and</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"></font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">Fund</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Officer</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:2.85pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Employees</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:7.0pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Insider</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Risk Employees</font></b></font></p>

<p style="line-height:99%;margin-bottom:.0001pt;margin-left:7.0pt;margin-right:17.45pt;margin-top:6.1pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">General</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(</font></font><a href="#_bookmark1"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">A</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirements:</font></font></p>

<h2 style="margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:5.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Exempt</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.75pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></b></font></h2>

<p style="line-height:104%;margin-bottom:.0001pt;margin-left:25.0pt;margin-right:11.6pt;margin-top:.55pt;text-indent:-.05pt;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">listed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><a href="#_bookmark8"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Glossary</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;text-decoration:none;">,</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Exchange</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Traded</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">municipal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">bonds</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">instances</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8220;exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">used</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">throughout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">include</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Proprietary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Funds,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Exchange</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Traded</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Funds,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">municipal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">bonds.</font></font></p>

<h2 style="line-height:12.2pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:5.3pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearing</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Trades</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">PTA</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">executing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.1pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Exchange</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Traded</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Notes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(ETNs).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><a href="#_bookmark5"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">F</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirements.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8.5pt;">&nbsp;</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:3.45pt;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Officer,</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Service,</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Service</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Employees</font></b></font></h1>

<p style="margin-bottom:.0001pt;margin-left:7.0pt;margin-right:17.45pt;margin-top:6.05pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">General</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(</font></font><a href="#_bookmark1"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">A</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Service,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Service</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirement:</font></font></p>

<h2 style="line-height:12.2pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:5.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-1.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Oversight</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">While</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Service,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Service</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">many</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">same</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classifications,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Service,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Service</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">therefore,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">pre-trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">denials</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">those</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trades.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">However,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">unlike</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classifications,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Service,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Service</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">post-trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">back-testing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">analysis</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">designed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">accumulate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">assess</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">activity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">mirrors</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">client</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trades.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">activity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">mirrors</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">client</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">result</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">change</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employee&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classification</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">require</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">future</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval.</font></font></p>
<h2 style="line-height:11.4pt;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:21.1pt;margin-top:6.85pt;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Quarterly</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Reporting</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">PTA</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">&#8211;</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">For</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Officer</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"></font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">non-U.S.-based</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Service</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:3.35pt;"></font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.8pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Only</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Initial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Annual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">completed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">non-U.S.-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Service</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Reporting.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">On</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">basis</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">30</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarter,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">these</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">file</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PTA.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">contain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following:</font></font></p>
<p style="line-height:11.6pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:9.25pt;margin-top:5.85pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">occurred</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">throughout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarter;</font></font></p>
<p style="line-height:11.4pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:17.45pt;margin-top:.05pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">capable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indirect</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ownership</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">;</font></font></p>
<p style="line-height:93%;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:17.45pt;margin-top:.4pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">aforementioned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accounts,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and;</font></font></p>
<p style="line-height:93%;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:25.9pt;margin-top:.45pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">aforementioned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">physical</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">safe</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deposit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">box,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">paper</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">certificates,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">etc.).</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:6.15pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">All</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reported</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">current</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">45</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">days</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">date</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">submitted.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Additionally,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">part</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirement,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">certify</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">read,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">understand,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">complied</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy.</font></font></p>









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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<div style="page-break-before:always;">&nbsp;</div><a name="page_14"></a><div style="padding-left:0%;padding-right:0%;width:100%;">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:93.7pt;margin-right:92.75pt;margin-top:2.15pt;text-align:center;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Appendix</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">E</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">&nbsp;</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:93.55pt;margin-right:92.75pt;margin-top:0in;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Requirements</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:.05pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">for</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">PREG</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Employees</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.1pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></font></p>

<p style="margin-bottom:.0001pt;margin-left:7.0pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">addition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">General</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Monitored</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(</font></font><a href="#_bookmark1"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">A</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirements:</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:0in;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Exempt Securities</font></b></font></h1>

<p style="line-height:104%;margin-bottom:.0001pt;margin-left:6.95pt;margin-right:15.75pt;margin-top:6.65pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">instances</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8220;exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">used</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">throughout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">note</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">includes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">except</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Only</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reportable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:0in;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Preclearing</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Trades </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.15pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">PTA</font></b></font></h1>

<p style="margin-bottom:.0001pt;margin-left:7.0pt;margin-right:17.45pt;margin-top:6.05pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">executing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">only.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><a href="#_bookmark5"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Appendix</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">F</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirements.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:6.5pt;">&nbsp;</font></font></p>

<h1 style="margin-bottom:0in;margin-left:7.0pt;margin-right:0in;margin-top:3.45pt;"><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Trading</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">
in </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.2pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Securities</font></b></font></h1>

<h2 style="line-height:12.2pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:6.0pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">General</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.9pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Restrictions</font></b></font></h2>

<p style="line-height:99%;margin-bottom:0in;margin-left:42.95pt;margin-right:9.25pt;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Every</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarter,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">imposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">restriction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">These</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">inside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">respect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">financial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">results</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">12:01</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">AM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Eastern</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Standard</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Time,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.95pt;">&#160;&#160;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">15th</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">month</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preceding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">each</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarter</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">first</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.55pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">public</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">announcement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">earnings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarter.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">time</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">during</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.65pt;">&#160;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">known</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">24-Hour</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Blackout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Period.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">example,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">earnings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">released</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Wednesday</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">9:30</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">AM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Eastern</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Standard</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Time,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">cannot</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">until</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Thursday</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">9:30</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">AM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Eastern</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Standard</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Time.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Non-trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">days,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">weekends</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">holidays,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">counted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">part</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">restricted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">period.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Occasionally,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">extend</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">restricted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">some</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees.</font></font></p>
<h2 style="line-height:12.2pt;margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:5.95pt;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">401(k)</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Plan</font></b></font></h2>

<p style="line-height:11.5pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:17.45pt;margin-top:.15pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Changes</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Your</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Stock</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Holdings</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">During</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">blackout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">periods,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">making</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">payroll</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deduction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">election</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">changes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">would</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">impact</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">future</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchases</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">These</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">changes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">made</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">when</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">blackout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">effect.</font></font></p>
<p style="line-height:97%;margin:0in;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:21.1pt;margin-top:0in;text-indent:-.25in;"><font face="courier new" style="line-height:97%;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Reallocating</font></b></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Balances</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Company</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">401(k)</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Plan</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PREG</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prohibited</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.95pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reallocating</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">balances</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">their</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">401(k)</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reallocating</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">action</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">impacts</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">holdings</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.95pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.9pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock.</font></font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:32.55pt;margin-top:5.85pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Company</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Employee</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Stock</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Options</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">PREG</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prohibited</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exercising</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">options</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.05pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">during</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">blackout</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">period.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:5.95pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Employee</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Stock</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Purchase</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Plan</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">(ESPP)</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">During</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">quarterly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">blackout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">periods,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prohibited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">enrolling</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">making</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">payroll</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deduction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">changes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ESPP.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">These</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">changes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">made</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">when</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">blackout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">effect.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:5.95pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Blackout</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Period</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Trading</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Implications</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Profit</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Disgorgement/Loss</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Recognition</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">BNY</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Mellon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">made</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">during</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">24-Hour</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Blackout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reversed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">corresponding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recognized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reversal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disgorgement.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">incur</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">loss</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">resulting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reversal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">blackout</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trade.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorgement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accordance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">procedures</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">established</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">senior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">management.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disgorgement,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.35pt;">&#160;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recognition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">difference</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">between</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prices</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">most</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transaction(s).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Accordingly,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recognition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">disgorgement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">differ</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capital</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">gains</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calculations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">tax</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">responsible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">tax</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">costs</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">associated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transaction(s).</font></font></p>








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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:93.7pt;margin-right:92.7pt;margin-top:2.15pt;text-align:center;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Appendix</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">F</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:93.7pt;margin-right:92.65pt;margin-top:0in;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Trade</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:.05pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Preclearance</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Requirements</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.1pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></font></p>

<p style="margin-bottom:0in;margin-left:6.95pt;margin-right:0in;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">)</font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">.</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">All</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">below</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirements.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h1 style="margin-bottom:0in;margin-left:25.0pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">General</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Preclearance Requirements</font></b></font></h1>

<h2 style="line-height:11.95pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:0in;margin-top:5.95pt;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Obtain</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Prior</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">to</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Initiating</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">a</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Transaction</font></b></font></h2>

<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:13.05pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">order</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">submit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">request</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">system</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">notice</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">request</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">was</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approved</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">placing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trade.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Unless</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">expressly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(See</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exemptions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">below),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">covered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirement.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Although</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">does</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">obligate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">place</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trade,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">should</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">made</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">does</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">intend</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">make.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">discuss</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">response</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">request</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">anyone</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">co-owners</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indirect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">owners).</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.35pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h2 style="line-height:12.0pt;margin-bottom:0in;margin-left:42.9pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Execute</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Trade</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Within</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Preclearance</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Window</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">(Preclearance</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Expiration)</font></b></font></h2>
<p style="line-height:99%;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">authorization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">expire</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">second</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">it</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">received.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PREG</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">authorization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">expire</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">third</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">after</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">it</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">received.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">authorization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">granted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">first</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">day.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">See</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">example</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">below.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.45pt;"> </font></font><font face=Arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Note</font></i></b></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">:</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.95pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">time</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">stamps</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">in</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">PTA</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Eastern</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Standard</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Time</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">(EST).</font></i></font></p>

<h2 style="margin-bottom:.0001pt;margin-left:60.9pt;margin-right:0in;margin-top:6.05pt;text-indent:-.25in;"><font face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Example</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:60.9pt;margin-right:17.45pt;margin-top:.05pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">receives</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Monday</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">3</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">PM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">EST.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">authorization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">valid</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">until</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">close</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Tuesday.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Insider</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employee&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">window</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">would</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">one</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">longer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">would</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">therefore</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">valid</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">until</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">close</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Wednesday.</font></font></p>

<h2 style="line-height:12.2pt;margin-bottom:.0001pt;margin-left:60.9pt;margin-right:0in;margin-top:5.95pt;text-indent:-.25in;"><font face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Note</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">of</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Caution</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:60.9pt;margin-right:11.6pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">place</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8220;limit&#8221;,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8220;stop-loss&#8221;,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8220;good-until-cancelled&#8221;,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8220;standing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">buy/sell&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">orders</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">cautioned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">receiving</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">authorization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">executed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">before</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">expires.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">At</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">authorization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">period,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">unexecuted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">order</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">canceled.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">new</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">authorization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requested;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">however,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">request</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">denied,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">order</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">broker-dealer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">canceled</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">immediately.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h2 style="line-height:12.0pt;margin-bottom:0in;margin-left:42.9pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Exemptions</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">the</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Requirement</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">to</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Preclear</font></b></font></h2>
<p style="line-height:11.1pt;margin-bottom:0in;margin-left:42.9pt;margin-right:0in;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transactions:</font></font></p>

<p style="line-height:12.15pt;margin:0in;margin-bottom:.0001pt;margin-left:60.95pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Exempt</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">defined</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><a href="#_bookmark8"><font color=windowtext face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Glossary</font></font></a></p>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:32.55pt;margin-top:0in;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Non-financial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">commodities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">agricultural</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">futures,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">metals,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">oil,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">gas,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">etc.),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">currency,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">financial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">futures</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">narrow-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">index</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">futures),</font></font></p>
<p style="line-height:99%;margin:0in;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:11.6pt;margin-top:.1pt;text-indent:-.25in;"><font face=symbol style="line-height:99%;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ETFs</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">funds</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">include</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">proprietary</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">funds</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">based</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">indices;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">S&amp;P</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.55pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">100,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Russell</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">200,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Eurostoxx</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">50,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">FTSE</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">100,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Nikkei</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">225,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A50</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ETFs</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">CSI</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">300.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">same</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indices</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">larger</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">participation</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(e.g.,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">S&amp;P</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">500,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Russell</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">1000)</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">would</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">also</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.8pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">complete</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">list</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ETFs</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Proprietary</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Funds</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">is</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">listed</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">MySource.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Only</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">on</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">the</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">published</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">list</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">are</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exempt</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">preclearance,</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Derivative</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">based</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">on</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.65pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">these</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indices</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">still</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">require</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance.</font></b></font></font></p>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:9.25pt;margin-top:.2pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Involuntary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">part</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">dividends
or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sales</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">fractional</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">shares);</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">however,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sales</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">initiated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">brokers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">satisfy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.65pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">margin</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calls</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">involuntary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">must</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">precleared,</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:32.55pt;margin-top:.05pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Pursuant</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exercise</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">rights</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(purchases</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sales)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">issued</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">issuer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">pro</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">rata</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">holders</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">class</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">extent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">rights</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">were</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">acquired</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">issuer,</font></font></p>
<p style="line-height:12.1pt;margin:0in;margin-bottom:.0001pt;margin-left:60.95pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Sells</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">effected</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">pursuant</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">bona</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fide</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">tender</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">offer,</font></i></font></p>







<p style="line-height:12.15pt;margin:0in;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:0in;margin-top:2.15pt;text-indent:-17.95pt;"><a name="_bookmark6"></a></p>
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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<div style="page-break-before:always;">&nbsp;</div><a name="page_16"></a><div style="padding-left:0%;padding-right:0%;width:100%;">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="line-height:12.15pt;margin:0in;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:0in;margin-top:2.15pt;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Pursuant</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">automatic</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">investment</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">including</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">payroll</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">withholding</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchase</font></font></p>

<p style="line-height:11.4pt;margin:0in;margin-bottom:.0001pt;margin-left:61.0pt;"><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.8pt;">
</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Funds</font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">.</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">&nbsp;</font></font></p>

<h1 style="margin-bottom:0in;margin-left:25.0pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Preclearance</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Rules</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.1pt;">for</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Stock</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;">in </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Retirement
and</font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Benefit Plans</font></b></font></h1>

<h2 style="margin-bottom:.0001pt;margin-left:42.95pt;margin-right:0in;margin-top:5.95pt;text-indent:-17.95pt;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">401(k)</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Plan</font></b></font></h2>

<p style="line-height:12.2pt;margin:0in;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:0in;margin-top:5.15pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Changes</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Your</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Company</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Stock</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Holdings</font></b></font></p>

<p style="margin-bottom:.0001pt;margin-left:61.0pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></u></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">changes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">401(k)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">result</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">following:</font></font></p>

<p style="line-height:12.25pt;margin-bottom:.0001pt;margin-left:78.95pt;margin-right:0in;margin-top:.05pt;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Changes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">payroll</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deduction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">contribution</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">percentage,</font></font></p>

<p style="margin-bottom:0in;margin-left:78.95pt;margin-right:0in;margin-top:0in;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Changes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">elections</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">regarding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">future</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock.</font></font></p>

<h2 style="line-height:12.2pt;margin-bottom:.0001pt;margin-left:61.0pt;margin-right:0in;margin-top:5.75pt;text-indent:-.25in;"><font face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Reallocating</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Balances</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">401(k)</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Plan</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:8.1pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sell</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">resulting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reallocation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">does</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">require</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.0pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">short-term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prohibition.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">As</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">result,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subsequent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">opposite</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">direction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reallocation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">occurring</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">60</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calendar</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">would</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">result</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">short-term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prohibition.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Changes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">existing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">allocations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">occurring</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">compared</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reallocation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">60</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prohibition.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Profits</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recognized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">short-term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">generally</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disgorged;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">however,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Legal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Department</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">consulted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">determine</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">proper</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disposition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">short-term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prohibitions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">involving</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Operating</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Committee</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">members.</font></font></p>

<h2 style="line-height:12.2pt;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:0in;margin-top:6.05pt;text-indent:-.25in;"><font face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Rebalancing</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">401(k)</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Plan</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sell</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">resulting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">rebalancing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(i.e.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">automatic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">movement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">balances</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">pre-established</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">election</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">allocation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">percentages)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">short-term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prohibition.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h2 style="line-height:12.05pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.75pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Employee</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Stock</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Options</font></b></font></h2>

<p style="line-height:11.8pt;margin-bottom:0in;margin-left:61.0pt;margin-right:0in;margin-top:0in;text-indent:-18.05pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exercise</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">option</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">grants.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:61.0pt;margin-right:13.05pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></u></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">receipt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">option</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">grant</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subsequent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">vesting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">grant.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h2 style="line-height:11.95pt;margin-bottom:0in;margin-left:43.0pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.95pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Restricted</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.75pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Stock/Units</font></b></font></h2>

<p style="line-height:11.85pt;margin-bottom:0in;margin-left:60.95pt;margin-right:0in;margin-top:0in;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></u></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following:</font></font></p>
<p style="line-height:12.2pt;margin-bottom:0in;margin-left:78.95pt;margin-right:0in;margin-top:0in;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">receipt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">award</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">restricted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">stock/units.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:78.95pt;margin-right:21.1pt;margin-top:0in;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">subsequent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">vesting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">stock/unit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">award;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">however</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">these</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">vesting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">PTA</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">system</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subsequent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sells.</font></font></p>
<p style="line-height:99%;margin-bottom:.0001pt;margin-left:78.95pt;margin-right:29.15pt;margin-top:.1pt;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company-approved</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">procedures)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">received</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">restricted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;"> award</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">time</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">vesting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">order</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">pay</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">tax</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">withholding.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h2 style="line-height:12.05pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font style="font-size:10.0pt;font-weight:normal;">o</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Employee</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Stock</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Purchase</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Plan</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">(ESPP)</font></b></font></h2>
<p style="line-height:11.85pt;margin-bottom:0in;margin-left:61.0pt;margin-right:0in;margin-top:0in;text-indent:-18.05pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">following:</font></font></p>
<p style="line-height:99%;margin:0in;margin-bottom:.0001pt;margin-left:78.95pt;margin-right:8.45pt;margin-top:0in;text-align:justify;text-indent:-.25in;"><font face=symbol style="line-height:99%;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sale</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ESPP</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Plan.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.45pt;"> </font></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">The</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">sale</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">stock</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">from</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Company</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">ESPP</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">will</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">compared</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">company</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">outside</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Company</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">ESPP</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.65pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ensure</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">compliance</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">with</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">short-term</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(60</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">day)</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">trading</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prohibition.</font></i></font></font></p>

<p style="line-height:99%;margin-bottom:.0001pt;margin-left:78.95pt;margin-right:11.6pt;margin-top:.25pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">withdrawn</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">previously</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ESPP.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Like</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;"> sold</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ESPP,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sales</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">compared</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ESPP</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">short-term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(60</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">day)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prohibition.</font></font></p>

<p style="line-height:11.4pt;margin-bottom:.0001pt;margin-left:61.0pt;margin-right:21.1pt;margin-top:.95pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></u></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">enrollment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">changes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">contribution</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">plan,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">acquired</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reinvestment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">dividends.</font></font></p>








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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:2.15pt;text-align:center;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Appendix</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">G</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.5pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:8.0pt;">&nbsp;</font></font></p>

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 <tr style="height:14.3pt;">
  <td colspan=7 valign=top width=100% style="border:solid black 1.0pt;height:14.3pt;padding:0in 0in 0in 0in;">
  <p style="line-height:13.55pt;margin:0in;margin-bottom:.0001pt;margin-left:66.5pt;"><font face=arial,sans-serif><b><font style="font-size:12.0pt;">Summary</font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">of </font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;">Select</font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;">Policy</font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.3pt;">
  </font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Requirements</font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.1pt;">by</font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.2pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Employee</font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:12.0pt;letter-spacing:-.05pt;">Classification</font></b></font></p>
  </td>
 </tr>
<tr style="height:57.95pt;">
  <td valign=top width=27% style="background:#cdcdcd;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:57.95pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.3pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:65.1pt;margin-top:0in;"><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Selected</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.65pt;">
  </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Policy</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:1.05pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Requirements</font></b></font></p>
  </td>
 <td valign=top width=12% style="background:#cdcdcd;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:57.95pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.3pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:19.7pt;"><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.1pt;">ADM</font></b></font></p>
  </td>
 <td valign=top width=13% style="background:#cdcdcd;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:57.95pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.3pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:7.0pt;margin-right:7.1pt;margin-top:0in;"><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:1.4pt;">
  </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></b></font></p>
  </td>
 <td valign=top width=9% style="background:#cdcdcd;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:57.95pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.3pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.7pt;"><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Insider</font></b></font></p>
  </td>
 <td valign=top width=16% style="background:#cdcdcd;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:57.95pt;padding:0in 0in 0in 0in;">
  <p align=center style="line-height:99%;margin:0in;margin-bottom:.0001pt;margin-left:7.0pt;margin-right:7.05pt;margin-top:0in;text-align:center;text-indent:-.1pt;"><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><b><font style="font-size:10.0pt;">Fund</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Service,</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:1.35pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Service,</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;">Fund</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:1.35pt;">
  </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Officer,</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:1.35pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;">Dreyfus/FINRA</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:1.1pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></b></font></font></p>
  </td>
 <td valign=top width=10% style="background:#cdcdcd;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:57.95pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.3pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:10.1pt;"><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">PREG</font></b></font></p>
  </td>
 <td valign=top width=13% style="background:#cdcdcd;border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:57.95pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.3pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:7.25pt;margin-right:6.2pt;margin-top:0in;text-align:center;text-indent:.05pt;"><font face=arial,sans-serif><b><font style="font-size:10.0pt;">Non-
  </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Classified</font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:1.25pt;"> </font></b></font><font face=arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></b></font></p>
  </td>
 </tr>
<tr style="height:35.05pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:27.35pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">U.S.-based</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">&#8211;</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.65pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">use</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">approved</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.45pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">broker-dealer</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.3pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.15pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:1.15pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:34.9pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="line-height:99%;margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:10.15pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font style="font-size:10.0pt;">Initial</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Accounts</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">and</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Holdings</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.1pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Reports</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">(filed</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.15pt;">  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:.05pt;">10</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">days</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.0pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">being</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">classified)</font></font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.3pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.15pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:1.15pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:23.5pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:18.5pt;margin-top:0in;"><font face=arial,sans-serif><font style="font-size:10.0pt;">Annual</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Certification</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">(filed</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.35pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">30</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">days</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.15pt;">  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">of year-end)</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.05pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.05pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.3pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.15pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:1.15pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:69.5pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:69.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:6.25pt;margin-top:0in;"><font face=arial,sans-serif><font style="font-size:10.0pt;">Quarterly</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.8pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Certification</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">(filed</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.1pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">30</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">days</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">quarter-end)</font></font></p>  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:69.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:69.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:69.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:69.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:10.6pt;margin-right:8.1pt;margin-top:0in;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">Only</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">applies</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Officers</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">non-U.S.</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">based</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Fund</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.1pt;">  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Service</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:69.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:69.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:46.55pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:46.55pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Preclear</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.65pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:46.55pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:46.55pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:46.55pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.3pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:46.55pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:46.55pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:8.2pt;margin-right:9.35pt;margin-top:0in;text-align:center;text-indent:-.1pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">(BNYM</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:12.5pt;margin-right:13.85pt;margin-top:0in;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">stock </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.1pt;">only)</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:46.55pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:34.9pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:13.95pt;margin-top:0in;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.5pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">window</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">(in</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">business</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">days,</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">includes</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">day</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.2pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">approval</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.9pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">granted)</font></font></p>  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:16.35pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">2</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.1pt;">days</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:18.65pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">2</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.1pt;">days</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:7.25pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">3</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.1pt;">days</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:9.5pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">3</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.1pt;">days</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:58.1pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:58.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:7.9pt;margin-top:0in;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Preclear</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.65pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Proprietary</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.75pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Funds,</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.5pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Exchange</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Traded</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Funds</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.15pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">(ETFs),</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">municipal</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">bonds,</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;">  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">and</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.05pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.45pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">non-exempt</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:58.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:58.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;">&nbsp;</font></font></p>
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:58.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:58.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:58.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:58.1pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:23.4pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:23.4pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:19.65pt;margin-top:0in;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Preclear</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.6pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Exchange</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Traded</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.15pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Notes</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">(ETNs)</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.4pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.05pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.4pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.05pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.4pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.3pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.4pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.4pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.4pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:23.5pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:14.75pt;margin-top:0in;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Subject</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:.05pt;">7+</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">-</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">blackout</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">period</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.05pt;margin-top:5.7pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:35.05pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:9.0pt;margin-top:0in;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Additional</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.65pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">approvals</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">required</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.6pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">for</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">personal</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">micro-</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.4pt;">  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">cap</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:8.1pt;margin-right:8.2pt;margin-top:0in;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">(MCADMs</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">only)</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:35.05pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:13.45pt;margin-top:0in;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Short-term</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">(60</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">days)</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.15pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">profit</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">disgorgement</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">all</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font></p>  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font style="font-size:11.0pt;">&nbsp;</font></font></p>
  </td>
 </tr>
<tr style="height:34.9pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="line-height:99%;margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:7.4pt;margin-top:0in;"><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Short-term</font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">(60</font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font></font><font face=arial,sans-serif style="line-height:99%;"><font face=arial,sans-serif><font style="font-size:10.0pt;">days)</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.15pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">profit</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">disgorgement</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">BNYM</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.3pt;">  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">stock</font></font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.3pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.15pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:1.15pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:34.9pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:1.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 </tr>
<tr style="height:.65in;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:.65in;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:8.35pt;margin-top:.05pt;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Prohibited</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.55pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">from</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">buying</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">BNYM</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">stock</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">margin,</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">short</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.15pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">selling</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">BNYM,</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">and</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">trading</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">in</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.2pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">BNYM</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.65pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">derivatives</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">(options)</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:.65in;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:.65in;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:.65in;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.3pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:.65in;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.15pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:.65in;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:1.15pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:.65in;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.55pt;"><font face=arial,sans-serif><font style="font-size:14.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:1.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 </tr>
<tr style="height:35.05pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:27.3pt;margin-top:0in;text-align:justify;"><font face=arial,sans-serif><font style="font-size:10.0pt;">Initial</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">public</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">offerings</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.0pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">prohibited</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">(refer</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.3pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Policy</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.0pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">waiver</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.95pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">requirements)</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.3pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:.15pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:1.15pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:35.05pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-top:.4pt;"><font face=arial,sans-serif><font style="font-size:9.5pt;">&nbsp;</font></font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:1.05pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 </tr>
<tr style="height:23.5pt;">
  <td valign=top width=27% style="border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:5.1pt;margin-right:18.45pt;margin-top:0in;"><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">Private</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.55pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Placements</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">require</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:1.45pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Ethics</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.6pt;">
  </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;">Office</font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=arial,sans-serif><font style="font-size:10.0pt;letter-spacing:-.05pt;">pre-approval</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.05pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.05pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=9% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.3pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:.15pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=10% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:0in;margin-right:1.15pt;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 <td valign=top width=13% style="border-bottom:solid black 1.0pt;border-right:solid black 1.0pt;height:23.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:1.05pt;margin-right:0in;margin-top:5.55pt;text-align:center;"><font face=arial,sans-serif><font style="font-size:10.0pt;">X</font></font></p>
  </td>
 </tr>
</table></div>








<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:93.65pt;margin-right:92.75pt;margin-top:2.95pt;text-align:center;"><a name="_bookmark7"></a></p></div><hr align="center" noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div><a name="page_18"></a><div style="padding-left:0%;padding-right:0%;width:100%;">

<div>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


</div>
<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:93.65pt;margin-right:92.75pt;margin-top:2.95pt;text-align:center;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Appendix</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">H</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:11.9pt;margin-right:38.05pt;margin-top:0in;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;">Policy</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;"> Administration</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> &#8211;</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:.05pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Roles and</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Responsibilities</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.05pt;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<h2 style="margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:0in;text-indent:-17.95pt;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Ethics</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Office</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:0in;margin-top:6.55pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Corporate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">led</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Chief</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(CCEO),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will:</font></font></p>

<p style="line-height:101%;margin:0in;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:13.05pt;margin-top:.35pt;text-indent:-.25in;"><font face="courier new" style="line-height:101%;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:101%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Develop,</font></font></font><font face=arial,sans-serif style="line-height:101%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font></font><font face=arial,sans-serif style="line-height:101%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interpret</font></font></font><font face=arial,sans-serif style="line-height:101%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font></font><font face=arial,sans-serif style="line-height:101%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">administer</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(</font></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Amendments</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">policy</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">will</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">made,</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.8pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">waivers</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">its</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">terms</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">will</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">granted,</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">discretion</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Manager</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Ethics</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Office</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">only</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">and</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">concurrence</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">other</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">officers</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">directors</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">of</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Company,</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">where</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">required</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(e.g.,</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">U.S.</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.65pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">mutual</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">fund</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">directors).</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Any</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">waiver</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exemption</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">will</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">official</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">only</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">if</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">evidenced</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">in</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">writing.)</font></i></font></font></p>
<p style="line-height:12.0pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:32.55pt;margin-top:.15pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Maintain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">records</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">readily</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accessible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">place,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">five</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">years</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">creation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(unless</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">otherwise</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">noted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">below):</font></font></p>
<p style="line-height:103%;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:25.9pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">copy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">each</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">version</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">amendments,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">existence</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">period</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">time;</font></font></p>
<p style="line-height:104%;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:25.9pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">record</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">violation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">action</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">taken</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">result</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">violation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">five</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> years</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fiscal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">year </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">violation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">occurred;</font></font></p>

<p style="line-height:103%;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:11.6pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">record</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">acknowledgement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">receipt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">each</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">person</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">currently,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">time</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">five years,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">was</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">copy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">pursuant</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">some</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">law,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">rule,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">regulation;</font></font></p>
<p style="line-height:104%;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:11.6pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">All</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reports</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">made</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">pursuant</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">terms</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(only</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">past</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">two</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">years</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">readily</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">accessible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">place);</font></font></p>
<p style="line-height:103%;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:17.45pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">list</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">names</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">designations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">would</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">designated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8220;supervised</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">persons&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">SEC</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Registered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Advisor;</font></font></p>
<p style="line-height:104%;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:11.6pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">record</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">decision</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">supporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reasons</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approving</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">acquisition</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">personnel</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">limited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">offerings.</font></font></p>

<p style="line-height:97%;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:25.9pt;margin-top:.05pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Identify</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Officers</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">responsible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reviewing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reports</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">records.</font></font></p>

<p style="line-height:12.2pt;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:0in;margin-top:.55pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Set</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">standards</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">monitoring</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">testing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Policy.</font></font></p>
<p style="line-height:96%;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:25.9pt;margin-top:.1pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Maintain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">electronic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">systems</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">support</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">system</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">enhancements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">properly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">controlled</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">tested</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">implementation.</font></font></p>
<p style="line-height:12.2pt;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:0in;margin-top:.55pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Provide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">training</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">during</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">major</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">acquisitions,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">significant</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">system</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">implementations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">modifications.</font></font></p>
<p style="line-height:102%;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:11.6pt;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Use</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">best</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">efforts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">assure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reports</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reports</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">treated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8220;personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">confidential.&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">law</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">review,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">retain,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">some</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">circumstances,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disclose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">documents.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Therefore,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">documents</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">available</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">inspection</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">appropriate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">regulatory</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">agencies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">parties</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">necessary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">evaluate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sanctions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">applicable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company.)</font></font></p>
<p style="line-height:12.25pt;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:0in;margin-top:.05pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Oversee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">activities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">IEC</font></i></font></p>
<p style="line-height:12.05pt;margin-bottom:0in;margin-left:42.9pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Determine</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">appropriate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sanctions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">violations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">maintain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">record</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sanctions.</font></font></p>
<p style="line-height:102%;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:11.6pt;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Maintain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">list</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8220;Restricted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">List&#8221;)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">whose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">firm</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">restricted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">various</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reasons.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">restrictions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">appropriate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">protect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">potential</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">violations,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">appearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">violations,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">laws.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">list</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">distributed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">outside</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">contents</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">confidential.</font></font></p>

<p style="line-height:12.2pt;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:0in;margin-top:.2pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Calculate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">collect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">disgorgements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profits.</font></font></p>
<p style="line-height:12.0pt;margin-bottom:0in;margin-left:42.9pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">annual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">certification</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">collected.</font></font></p>

<p style="line-height:100%;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:11.6pt;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Where</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">agreed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">upon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sector,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">oversee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">collection</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">obtaining</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">statements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">details,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">monitoring</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">detect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">violations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Policy.</font></font></p>

<p style="line-height:12.1pt;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:21.1pt;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Oversee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">approvals</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">initial</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">public</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">offerings</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">acquisitions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">private</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investments,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">withdrawal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">affiliated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">hedge/private</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">equity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">funds.</font></font></p>
<p style="line-height:96%;margin:0in;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:32.55pt;margin-top:.35pt;text-indent:-.25in;"><font face="courier new" style="line-height:96%;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:96%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Review</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">account</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">documentation</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">determine</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">can</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deemed</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">non-</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.0pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">discretionary</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(managed)</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">account</font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">.</font></font></font></p>







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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<h2 style="margin-bottom:.0001pt;margin-left:25.0pt;margin-right:0in;margin-top:1.65pt;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Function-Level</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.8pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Compliance</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.8pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Unit</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:25.0pt;margin-right:0in;margin-top:6.55pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">units</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Function</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">level,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">supervision</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Directors,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will:</font></font></p>
<p style="line-height:12.0pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:60.0pt;margin-top:.25pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">properly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">consultants,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">independent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">contractors</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">temporary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees.</font></font></p>
<p style="line-height:12.2pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:.2pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Provide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">training</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">various</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">systems</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">utilized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">compliance.</font></font></p>
<p style="line-height:96%;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:11.6pt;margin-top:.1pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">violations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Board</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Directors</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">appropriate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">subsidiary,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">necessary.</font></font></p>
<p style="line-height:12.0pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:17.45pt;margin-top:.35pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">data</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">perform</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">monitoring</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(e.g.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Restricted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Lists,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Manager</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Codes,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Designated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Approvers)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">provided</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office.</font></font></p>

<p style="line-height:100%;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:21.1pt;margin-top:.2pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Oversee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">collection</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtaining</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.05pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">statements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">details</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">monitoring</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">detect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">violations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">unless</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">performing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">those</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">functions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">business.</font></font></p>
<p style="line-height:12.2pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:.4pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Oversee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">timely</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">completion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reports</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">certifications.</font></font></p>

<p style="line-height:96%;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:17.45pt;margin-top:.1pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">consultation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">management,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">construct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">provide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">list</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">appropriate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">restrictions.</font></font></p>
<p style="line-height:12.0pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:21.1pt;margin-top:.35pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Approve</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">been</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">delegated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">business.</font></font></p>

<p style="line-height:97%;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:32.55pt;margin-top:.3pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Provide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">timely</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">updates</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">list</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(those</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">advised,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subadvised</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">underwritten</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">business)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office.</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.45pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h2 style="margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Business</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-1.15pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Management</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:0in;margin-top:6.55pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">partner</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">groups</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will:</font></font></p>
<p style="line-height:12.0pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:35.65pt;margin-top:.25pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">managers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">communicate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employee&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classification</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">proper</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">training</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">been</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">provided.</font></font></p>
<p style="line-height:12.0pt;margin-bottom:0in;margin-left:42.95pt;margin-right:25.9pt;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">consultation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">function-level</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">unit,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">construct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">provide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">list</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">appropriate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">restrictions.</font></font></p>
<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:.2pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Enforce</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Policy.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.5pt;">&nbsp;</font></font></p>

<h2 style="margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Legal</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.9pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Department</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:0in;margin-top:6.65pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Legal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Department</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">responsibilities:</font></font></p>
<p style="line-height:12.0pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:45.45pt;margin-top:.25pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Provide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">legal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">analysis</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">new</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">revised</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">legislation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">jurisdictions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">regarding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.8pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">laws</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">regulations.</font></font></p>

<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:.2pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Participate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">review</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">amendments.</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-top:.1pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<h2 style="margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Technology</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-1.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Department</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:0in;margin-top:6.55pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Technology</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Department</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">following</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">responsibilities:</font></font></p>
<p style="line-height:12.0pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:17.45pt;margin-top:.25pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Provide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">support</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">internally</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">hosted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">applications</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">systems</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">function</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">properly,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">various</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">files</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">properly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">loaded</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">into</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">system.</font></font></p>

<p style="line-height:12.2pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:.2pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Develop</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">alert</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">process</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">detect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">failed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">non-received</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">files.</font></font></p>

<p style="line-height:12.2pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Ensure</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">software</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">updates</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">hardware</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">installations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">adequately</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">tested.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-top:.1pt;"><font face=arial,sans-serif><font lang=EN-US style="font-size:9.0pt;">&nbsp;</font></font></p>

<h2 style="margin-bottom:0in;margin-left:24.95pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font color=#818181 face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font color=#818181 face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Ethics</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Council</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.5pt;">
</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">(IEC)</font></b></font></h2>

<p style="line-height:104%;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:6.4pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">formed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Ethics</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Council</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">composed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investment,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">legal,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">risk</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">management,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">representatives</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">affiliates.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">IEC</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">will:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;">&#160;</font></font><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o&#160; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Approve</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">substantive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">amendments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(along</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">appropriate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">concurrence</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">third</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">parties)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font></p>
<p style="line-height:10.55pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font></p>

<p style="line-height:12.2pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:.5pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Provide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interpretive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">guidance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">when</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requested</font></font></p>

<p style="line-height:96%;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:11.6pt;margin-top:.1pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Approve/disapprove</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">actions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">taken</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">connection</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">activities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font></p>

<p style="margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:.55pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Oversee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">activities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">designated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font></p>







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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:1.3in;margin-right:92.75pt;margin-top:2.95pt;text-align:center;"><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Appendix</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.1pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:12.0pt;">I</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:93.7pt;margin-right:92.55pt;margin-top:6.0pt;text-align:center;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:12.0pt;letter-spacing:-.05pt;">Glossary</font></b></font></p>

<p style="margin-bottom:.0001pt;margin-left:25.0pt;margin-right:12.7pt;margin-top:6.0pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Access</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Decision</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Maker</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(ADM)</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employee</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">designated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.15pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Ethics</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Council</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Generally,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Managers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Research</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Analysts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">make</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">participate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recommendations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">decisions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">regarding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">mutual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">funds</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">managed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">accounts.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Managers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">broad-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">index</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">funds</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">traders</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">typically</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:25.0pt;margin-right:11.6pt;margin-top:3.9pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Automatic</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Plan</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">program</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">regular</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">periodic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchases</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(withdrawals)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">made</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">automatically</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to/from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">accordance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">predetermined</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">schedule</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">allocation.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Examples</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">include:</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Dividend</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Reinvestment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Plans</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(DRIPS),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">payroll</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deductions,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">bank</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">drafts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deposits,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">automatic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">mutual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investments/withdrawals</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(PIPS/SWIPS),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">asset</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">allocation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accounts.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:3.75pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Compliance</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Officer</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">individual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">whose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">primary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">job</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">duties</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">include</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">responsibility</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ensuring</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">applicable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">laws,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">regulations,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policies,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">procedures,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Code</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Conduct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">followed.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8220;Compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8220;Preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">used</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-1.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interchangeably.</font></font></p>
<p style="line-height:101%;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:41.55pt;margin-top:3.75pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Direct</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Family</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Relationship</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">immediate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">family</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">defined</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8220;</font></font><a href="#_bookmark9"><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">indirect</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ownership</font></font></a><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Glossary.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:.05in;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Dreyfus/FINRA</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Group</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employee</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></b></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">An</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">regulation</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">resulting</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">from</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">his/her</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.85pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">registration</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">with</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">FINRA.</font></font></p>

<p style="line-height:100%;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:16.85pt;margin-top:3.75pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Employee</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">individual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">BNY</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Mellon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">more-than-50%-owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">direct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indirect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">subsidiaries.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">includes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">full-time</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">part-time,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">benefited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">non-benefited,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">non-exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">world-wide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">locations.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:3.65pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Exempt</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">reporting.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">All</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">require</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">unless</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">expressly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">below</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">classifications</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">There</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">additional</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employee&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classification.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Refer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">applicable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Appendix</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classification</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">additional</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exemptions.</font></font></p>

<p style="line-height:11.6pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:21.1pt;margin-top:3.8pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Cash</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">cash-like</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">bankers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">acceptances,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">bank</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">CDs</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">time</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">deposits,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">money</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.5pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">market</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">funds</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">commercial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">paper,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">repurchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">agreements).</font></font></p>

<p style="line-height:11.5pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:11.6pt;margin-top:3.95pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Direct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">obligations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sovereign</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">governments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">United</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">States</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(U.S.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">only),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">United</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Kingdom</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(U.K.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">only)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Japan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(Japan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">only).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Obligations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">instrumentalities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">U.S.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">U.K.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Japanese</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">governments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quasi-government</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">agencies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt.</font></font></p>

<p style="line-height:96%;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:11.6pt;margin-top:.05pt;text-indent:-17.95pt;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">High-quality,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">short-term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">debt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">instruments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">having</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">maturity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">less</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">366</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">daysat</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">issuance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">rated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">one</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">two</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">highest</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">rating</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">categories</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">nationally</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recognized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">statistical</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">rating</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">organization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">unrated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">comparable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">quality.</font></font></p>
<p style="line-height:97%;margin:0in;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:13.05pt;margin-top:.3pt;text-indent:-17.95pt;"><font face="courier new" style="line-height:97%;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">issued</font></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">open-end</font></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font></font><font face=arial,sans-serif style="line-height:97%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(i.e.,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">mutual</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">funds</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">variable</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">capital</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.75pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies)</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><b><u><font lang=EN-US style="font-size:10.0pt;">not</font></u></b></font><font face=arial,sans-serif><b><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></u></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Exchange</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Traded</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Funds</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(</font></i></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.2pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Exchange</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Traded</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Funds</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">considered</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">non-exempt</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">for</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">ADM</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">and</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.55pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Employees</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.75pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">only)</font></i></font></font></p>
<p style="line-height:11.9pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:.2pt;text-indent:-17.95pt;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">non-company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">401(k)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plans</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(e.g.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">spouse&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">previous</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employer&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">etc.).</font></font></p>
<p style="line-height:96%;margin:0in;margin-bottom:.0001pt;margin-left:43.0pt;margin-right:21.1pt;margin-top:0in;text-indent:-.25in;"><font face="courier new" style="line-height:96%;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:96%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font></font><font face=arial,sans-serif style="line-height:96%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font></font><font face=arial,sans-serif style="line-height:96%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font></font><font face=arial,sans-serif style="line-height:96%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font></font><font face=arial,sans-serif style="line-height:96%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">529</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plans,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">provided</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">they</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><b><u><font lang=EN-US style="font-size:10.0pt;">not</font></u></b></font><font face=arial,sans-serif><b><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></u></b></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">invested</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Funds</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">(</font></i></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Proprietary</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.45pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">and</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Exchange</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Traded</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Funds</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">considered</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">non-exempt</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">for</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">ADM</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">and</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.9pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">only)</font></i></font></font></p>
<p style="line-height:11.85pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:.2pt;text-indent:-17.95pt;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fixed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">annuities.</font></font></p>

<p style="line-height:96%;margin:0in;margin-bottom:.0001pt;margin-left:43.0pt;margin-right:45.45pt;margin-top:0in;text-indent:-.25in;"><font face="courier new" style="line-height:96%;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font></font><font face=arial,sans-serif style="line-height:96%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Variable</font></font></font><font face=arial,sans-serif style="line-height:96%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font></font><font face=arial,sans-serif style="line-height:96%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">annuities</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><b><u><font lang=EN-US style="font-size:10.0pt;">not</font></u></b></font><font face=arial,sans-serif><b><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></u></b></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">invested</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Fund</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sub-accounts</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(</font></i></font><font face=arial,sans-serif><b><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Note</font></i></b></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">:</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Variable</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.65pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">annuities</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">that</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">invested</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">in</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Proprietary</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Fund</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sub-accounts</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">considered</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">non-exempt</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">for</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">ADM</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">and</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">only)</font></i></font></font></p>
<p style="line-height:12.0pt;margin:0in;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:0in;margin-top:.05pt;text-indent:-17.95pt;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">approved</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">non-discretionary</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(</font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">managed)</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accounts</font></i></font></p>

<p style="line-height:95%;margin-bottom:0in;margin-left:42.95pt;margin-right:9.25pt;margin-top:0in;text-indent:-17.95pt;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">bona</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fide</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">benefit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">organization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">affiliated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">behalf</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">organization,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">member</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">immediate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">family.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">example,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employee&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">spouse</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">works</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">organization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">unrelated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font></p>








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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="margin-bottom:.0001pt;margin-left:43.0pt;margin-right:17.45pt;margin-top:2.2pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">report</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">his/her</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">spouse</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">makes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">unrelated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">organization&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">so</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">long</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">part</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">benefit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exemption</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">does</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><b><u><font lang=EN-US style="font-size:10.0pt;">not</font></u></b></font><font face=Arial,sans-serif><b><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></u></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">apply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">allows the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">buy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sell</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">those</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employer.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">situations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">would</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:9.25pt;margin-top:5.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Officer</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employee</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Asset</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Wealth</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">businesses</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">normal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">conduct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">his/her</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">job</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">responsibilities,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">serves</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">officer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">fund,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclear</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">activity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fund,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">does</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">attend</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">board</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">meetings.</font></font></p>
<p style="line-height:100%;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:25.9pt;margin-top:3.7pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Service</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employee</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Asset</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Wealth</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">businesses</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">whose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">normal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">job</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">responsibilities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">involve</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">maintaining</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">books</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">records</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">mutual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">funds</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and/or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">managed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accounts.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:3.65pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Front</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Running</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">your </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">own</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">basis</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">knowledge</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">clients</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">positions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">plans.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:3.75pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Index</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">investment</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">managed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">indexed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">accounts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">model-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">driven</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">accounts)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">contain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">proportions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">designed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">replicate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">performance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">independently</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">maintained,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">broad-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">index</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">discretion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">computer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">models</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">using</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">prescribed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">objective</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">criteria</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">replicate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">independently</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">maintained</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">index.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:3.9pt;text-indent:-.25in;"><a name="_bookmark9"></a><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Indirect</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Ownership</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Generally,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;"> you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indirect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">owner</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if
you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">named</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">power</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">attorney</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">contract,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">arrangement,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">understanding,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">relationship,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">otherwise,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">opportunity,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">directly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indirectly,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">share</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">time</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profit</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">derived</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transaction</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">them</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8220;pecuniary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interest&#8221;).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Common</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indirect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ownership</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">situations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">include,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">limited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to:</font></font></p>

<p style="line-height:11.4pt;margin-bottom:.0001pt;margin-left:42.95pt;margin-right:11.6pt;margin-top:4.2pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">members</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">immediate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">family</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">blood,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">marriage,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">adoption,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">otherwise,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">share</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">same</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">household</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">you.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:11.6pt;margin-top:0in;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8220;Immediate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">family&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">includes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">your</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">spouse,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">domestic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">partner,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">children</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">stepchildren,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">foster</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">children,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sons-in-law</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">daughters-in-law),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">grandchildren,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">parents</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">step-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">parents,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">mothers-in-law</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">fathers-in-law),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">grandparents,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">siblings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">brothers-in-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">law,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sisters-in-law</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">stepbrothers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stepsisters).</font></font></p>
<p style="line-height:11.95pt;margin-bottom:0in;margin-left:42.9pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Partnership</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">general</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">partnership</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">general</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">partner</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">limited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">partnership.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:42.9pt;margin-right:17.45pt;margin-top:0in;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Passive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">limited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">partners</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">owners</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">partnership</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">absent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">unusual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">circumstances,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">influence</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">over</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">decisions.</font></font></p>

<p style="line-height:11.5pt;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:25.9pt;margin-top:.15pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Corporate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">shareholders</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">share</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">control</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">over</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">corporation&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio.</font></font></p>
<p style="line-height:11.7pt;margin-bottom:0in;margin-left:42.9pt;margin-right:0in;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Trusts</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">parties</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trust</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">both</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">pecuniary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interest</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">control.</font></font></p>

<p style="line-height:96%;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:13.05pt;margin-top:0in;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Derivative</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">You</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">indirect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">owner</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">you</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">right</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">acquire</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exercise</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">conversion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">option</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">warrant,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">convertible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">derivative</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">security,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">whether</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">presently</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exercisable.</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:42.9pt;margin-right:0in;margin-top:.1pt;text-indent:-.25in;"><font face="courier new"><font lang=EN-US style="font-size:10.0pt;">o</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">investment</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">clubs</font></i></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:24.9pt;margin-right:0in;margin-top:3.0pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Initial</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Public</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Offering</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">(IPO)</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></b></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">first</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">offering</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company's</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">public.</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:24.9pt;margin-right:11.6pt;margin-top:3.95pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Insider</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Risk</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employee</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></b></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classification</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">normal</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">conduct</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">job</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">responsibilities</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">likely</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">receive</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">perceived</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">aware</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">receive</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">material</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">nonpublic</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.95pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">concerning</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.85pt;">&#160;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company&#8217;s</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">clients.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classification</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">typically</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">include,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">but</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.7pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">limited</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Risk</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Legal</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">personnel.</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">All</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">members</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company&#8217;s</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Operating</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Committee</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(excluding</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Pershing</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Operating</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Committee</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Members</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">who</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">covered</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">by</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">the</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Pershing</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">trading</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">policy)</font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">otherwise</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classified</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees,</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classified</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Insider</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Risk</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.85pt;margin-right:17.45pt;margin-top:3.75pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Clubs</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Organizations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">whose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">members</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">make</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">joint</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">decisions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">buy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sell.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">generally</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">name</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">club.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Prior</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">participating</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">club,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(excluding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Non-Classified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">required</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">written</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">permission</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Compliance</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Officer</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">receive</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">permission</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">participate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">club</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subject</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requirements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">policy.</font></font></p>








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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:2.15pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Company</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">issues</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">represent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">undivided</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interest</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">net</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">assets</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Mutual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">funds</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">open-end</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">issue</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sell</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">redeemable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">representing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">undivided</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interest</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">net</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">assets</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:3.7pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Employee</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">normal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">conduct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">his/her</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">job</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">responsibilities,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">likely</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">perceived</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">access)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">nonpublic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">regarding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">advisory</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.0pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">client&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">nonpublic</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">regarding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.45pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Fund</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">involved</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">making</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recommendations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">advisory</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">clients,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">recommendations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">before</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">public.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">This</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">classification</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">typically</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">includes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Asset</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Wealth</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">businesses,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">including:</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:42.95pt;margin-right:21.1pt;margin-top:3.85pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Certain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fiduciary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sales</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">advisory</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">services,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">research</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">various</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trust</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fiduciary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">functions;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">regulated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">certain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investment</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">laws.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Examples</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">are:</font></font></p>

<p style="line-height:99%;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:11.6pt;margin-top:4.05pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">U.S.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8220;advisory</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">persons&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8220;access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">persons&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Rule</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">17j-1</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Act</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">1940</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8220;access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">persons&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Rule</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">204A-1</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Advisers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Act.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:30.9pt;margin-top:3.9pt;text-align:justify;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">In</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">U.K.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">companies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">undertaking</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">specified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">activities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Financial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Services</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Markets</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Act</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">2000</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(Regulated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Activities),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Order</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">2001,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">regulated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Financial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Conduct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Authority.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:42.95pt;margin-right:26.3pt;margin-top:3.9pt;text-align:justify;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">member</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Operating</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Committee</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">part</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">his/her</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">usual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">duties,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">responsibility</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fiduciary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">activities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">routinely</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">information</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">about</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">advisory</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">clients&#8217;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.65pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transactions.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:35.65pt;margin-top:3.7pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Ethics</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Council</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(IEC)</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Council</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">having</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">oversight</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">responsibility</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">issues</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">related</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">personal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">activity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">members</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">determined</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Chief</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&amp;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer.</font></font></p>
<p style="line-height:101%;margin:0in;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:13.05pt;margin-top:3.7pt;text-indent:-.25in;"><font color=#818181 face=symbol style="line-height:101%;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font></font><font face=arial,sans-serif style="line-height:101%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Manager</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">of</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">the</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Ethics</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Office</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font></font><font face=arial,sans-serif style="line-height:101%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">individual</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">appointed</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Chief</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Compliance</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&amp;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.0pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">manage</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office.</font></font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:12.7pt;margin-top:.05in;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Micro-Cap</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Access</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Decision</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Maker</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">(MCADM)</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employee</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subset</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">make</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">recommendations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">decisions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">regarding</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">issuer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.6pt;">&#160;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">small</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">threshold</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">used</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">when</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">determining</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">MCADM</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">capitalization</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">equal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">less</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">$250</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">million</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">countries,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">local</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">currency&#8217;s</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">USD</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">equivalent</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">used.)</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.9pt;margin-right:11.6pt;margin-top:3.75pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Money</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Market</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">mutual</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">invests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">short-term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">debt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">instruments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">where</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">its</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">valued</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">amortized</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">cost</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">so</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">seek
to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">maintain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">stable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">net</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">asset</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(typically,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">$1</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">per</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">share).</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.9pt;margin-right:25.9pt;margin-top:3.7pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Non-Discretionary</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(Managed)</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Account</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">beneficial</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interest</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">no</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">direct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">indirect</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">control</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">over</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">decision</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">making</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">process.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">It</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempted</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">reporting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">procedures</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">only</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">if</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">satisfied</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">truly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">non-discretionary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(i.e.,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">has</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">given</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">total</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">discretion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">manager</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">retains</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">no</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ability</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">influence</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">specific</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades).</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.9pt;margin-right:25.9pt;margin-top:3.9pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Non-Self-Directed</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Accounts</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portion</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">401(k)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">balance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">invested</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Tier</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">1</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">LifePath</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Index</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Funds,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Tier</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">2</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Passively</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Managed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Index</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Tier</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">3</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Actively</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Managed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Funds,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and/or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">BNY</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Mellon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock.</font></font></p>
<p style="margin:0in;margin-bottom:.0001pt;margin-left:24.9pt;margin-right:0in;margin-top:3.7pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Operating</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Committee</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></b></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Operating</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Committee</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">BNY</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Mellon.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.85pt;margin-right:17.45pt;margin-top:3.95pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Option</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">gives</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investor</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">right,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">obligation,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">buy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sell</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">specific</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">specified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">price</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">within</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">specified</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">time</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">frame.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">with</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">buys/sells</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">option</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">deemed</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchased/sold</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">underlying</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">when</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">option</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">was</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchased/sold.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Four</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">combinations</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">possible</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">described</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">below:</font></font></p>

<h2 style="margin-bottom:.0001pt;margin-left:42.85pt;margin-right:0in;margin-top:3.75pt;text-indent:-.25in;"><font face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Call</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.65pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Options</font></b></font></h2>

<p style="line-height:11.4pt;margin-bottom:.0001pt;margin-left:60.85pt;margin-right:45.45pt;margin-top:5.0pt;text-indent:-.25in;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">If</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">buys</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">call</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">option,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purchased</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">underlying</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">date</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">option</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">was</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchased.</font></font></p>








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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<div style="page-break-before:always;">&nbsp;</div><a name="page_23"></a><div style="padding-left:0%;padding-right:0%;width:100%;">

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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="line-height:99%;margin-bottom:.0001pt;margin-left:60.95pt;margin-right:17.45pt;margin-top:2.25pt;text-indent:-17.95pt;"><font face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">If</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sells</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">call</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">option,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sold</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">underlying</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">date</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">option</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">was</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sold</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">(for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">covered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">call</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">writing,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">out-of-the-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">money</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">option</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10.0pt;">not</font></u></font><font face=Arial,sans-serif><u><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></u></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">60</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">day</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prohibition).</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Please</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">note</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">would</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">apply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">covered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">calls</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">BNY</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Mellon</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">option</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trades</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.85pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prohibited.</font></font></p>

<h2 style="line-height:12.15pt;margin-bottom:0in;margin-left:42.95pt;margin-right:0in;margin-top:0in;text-indent:-17.95pt;"><font face=symbol><font style="font-size:10.0pt;font-weight:normal;">&#183;</font></font><font face="times new roman"><font style="font-size:7.0pt;font-weight:normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.05pt;">Put</font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></b></font><font face=Arial,sans-serif><b><font style="font-size:10.0pt;">Options</font></b></font></h2>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:25.9pt;margin-top:0in;text-indent:-.25in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">If</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">buys</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">put option,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sold</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">underlying</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">date</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">option</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">was</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchased.</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:60.95pt;margin-right:17.45pt;margin-top:0in;text-indent:-.25in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">If</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sells</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">put</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">option,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employee</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">have</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">bought</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">underlying</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">date</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">option</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">was</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sold.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:5.8pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Preclearance</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Compliance</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Officer</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">person</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">designated</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Office</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and/or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Investment</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.8pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Ethics</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Council</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">administer,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">among</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">things,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees&#8217;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">requests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">specific</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purposes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">term</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8220;Compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">&#8220;Preclearance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.85pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Officer&#8221;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">used</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interchangeably).</font></font></p>
<p style="line-height:100%;margin:0in;margin-bottom:.0001pt;margin-left:25.0pt;margin-right:14.7pt;margin-top:3.75pt;text-align:justify;text-indent:-18.05pt;"><font color=#818181 face=symbol style="line-height:100%;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Pre-Release</font></b></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Earnings</font></b></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Group</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(PREG)</font></b></font><font face=arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;"> </font></b></font></font><font face="times new roman" style="line-height:100%;"><font face="times new roman"><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face="times new roman"><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font></font><font face=arial,sans-serif style="line-height:100%;"><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Pre-Release</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Earnings</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Group</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">consists</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">all</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">members</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.7pt;"></font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company&#8217;s</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Operating</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Committee</font></i></font><font face=arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;">
</font></i></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">individual</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">determined</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company&#8217;s</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Corporate</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Finance</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Department</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">member</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">group.</font></font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:3.65pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Private</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Placement</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">offering</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">registration</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">various</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">laws</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">rules,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Act</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">1933</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">U.S.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Rules</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">U.K.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">offerings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">from</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">registration</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">because</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">do</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">constitute</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">public</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">offering.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Private</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">placements</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.7pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">include</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">limited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">partnerships,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">certain</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">cooperative</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">real</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">estate,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">co-mingled</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">vehicles</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">such</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">hedge</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">funds,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">privately-held</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">family</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">businesses.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">For</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">purpose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">time-shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">cooperative</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investments</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">real</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">estate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">used</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">primary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.75pt;">&#160;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">secondary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">residence</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">considered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">private</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">placements.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:9.25pt;margin-top:3.75pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Fund</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investment</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">company</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">collective</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fund</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">which</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">subsidiary </font></font><font 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lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">adviser,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sub-adviser</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">principal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">underwriter.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Proprietary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Funds</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">listing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">found</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">MySource</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Compliance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Ethics</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">homepage</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">it</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">can</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">obtained</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sending</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">email</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Trading</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Help</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Line</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">securitiestradingpolicyhelp@bnymellon.com</font></font><font color=windowtext face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;text-decoration:none;">.</font></font></p>
<p style="line-height:101%;margin-bottom:.0001pt;margin-left:24.95pt;margin-right:25.9pt;margin-top:3.7pt;text-indent:-17.95pt;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Scalping</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
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style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">clients</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">for</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font 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lang=EN-US style="font-size:10.0pt;">value</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font 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</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Security</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">Any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">represents</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">ownership</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stake</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">debt</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stake</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.0pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">partnership,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">governmental</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">unit,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">business</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">enterprise.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">It</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">includes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stocks,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">bonds,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">notes,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.65pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">evidences</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">indebtedness,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">certificates</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">participation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">profit-sharing</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">agreement,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">collateral</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">trust</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">certificates,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">certificates</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">deposit.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">It</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">also</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">includes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security-based</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">swaps</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">many</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">types</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">puts,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">calls,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">straddles</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">options</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">any</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">group</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">fractional</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">undivided</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">interests</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">oil,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.8pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">gas,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">other</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">mineral</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">rights;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">contracts,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">variable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">life</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">insurance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">policies</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">variable</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.95pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">annuities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">whose</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">cash</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">values</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">benefits</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">tied</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">performance</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">an</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">It</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.65pt;">&#160;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">does</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">include</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">currencies.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Unless</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">expressly</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">exempt,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">securities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">covered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">under</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.75pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">provisions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">policy</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(See</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">exempt</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">securities</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">).</font></font></p>

<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:17.45pt;margin-top:3.9pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Self-Directed</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Accounts</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">account</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">established</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">as</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">part</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">401(k)</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">plan</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">offers</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">opportunity</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">build</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">manage</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">own</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">investment</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">through</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.9pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">broad</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">variety</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Exchange</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Traded</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Funds,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Proprietary</font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></i></font><font face=Arial,sans-serif><i><font lang=EN-US style="font-size:10.0pt;">Funds</font></i></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">non-Proprietary</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Funds.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:11.6pt;margin-top:3.85pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Service</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Employee</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classification</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">who</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Asset</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Wealth</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Management</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">businesses,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">normal</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">conduct</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">their</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">job</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">responsibilities</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">have </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.55pt;">&#160;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">access</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">post-trade</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.4pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">including</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.5pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">transactions</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">portfolio</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">holdings</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">information.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:5.9pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Employees</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">this</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">classification</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.1pt;">may</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">include,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">but</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">are</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">limited</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Compliance,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Audit,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:1.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">Technology</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-1.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">personnel.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:0in;margin-top:3.75pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Short</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Sale</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">sale</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">owned</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">by</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">seller</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">time</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.1pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">trade.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:9.25pt;margin-top:3.8pt;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Spread</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">Betting</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">-</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">type</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">speculation</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">that</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">involves</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">taking</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">bet</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">price</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">movement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">security.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.15pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">A</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">spread</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">betting</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">company</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">quotes</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">two</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">prices,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">bid</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">offer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">price</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">(also,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">called</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">spread),</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">and</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investors</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">bet whether</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">price</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">underlying</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">will</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">be</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">lower</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">bid</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">higher</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">than</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font></p>








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<p style="margin:0in;margin-bottom:.0001pt;"><font face=Calibri,sans-serif><font lang=EN-US style="font-size:11.0pt;">&nbsp;</font></font></p>


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<p style="line-height:101%;margin-bottom:.0001pt;margin-left:25.0pt;margin-right:17.45pt;margin-top:2.2pt;text-indent:0in;"><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">offer.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.05pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">investor</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">does</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">not</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">own</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">underlying</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">security</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">spread</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">betting,</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">they</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.45pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">simply</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.55pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">speculate</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">on</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:3.5pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">price</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">movement</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">of</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">stock.</font></font></p>
<p style="margin-bottom:.0001pt;margin-left:24.95pt;margin-right:28.6pt;margin-top:.05in;text-indent:-.25in;"><font color=#818181 face=symbol><font lang=EN-US style="font-size:10.0pt;">&#183;</font></font><font color=#818181 face="times new roman"><font lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Tender</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;">Offer</font></b></font><font face=Arial,sans-serif><b><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></b></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">&#8211;</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">An</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">offer</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;">
</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">purchase</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:.05pt;">some</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">or</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">all</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">shareholders'</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">shares</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">in</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">corporation.</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:2.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">The</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">price</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:4.6pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">offered</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"></font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">is</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.2pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">usually</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.35pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">at</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.15pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">a</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">premium</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">to</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.3pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">the</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;">market</font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.25pt;"> </font></font><font face=Arial,sans-serif><font lang=EN-US style="font-size:10.0pt;letter-spacing:-.05pt;">price.</font></font></p>



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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>3
<FILENAME>exhibit302-430.htm
<DESCRIPTION>CERTIFICATION REQUIRED BY RULE 30A-2
<TEXT>

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   <TITLE>exhibit302-430.htm - Generated by SEC Publisher for SEC Filing</TITLE>
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<BODY bgcolor="#ffffff">
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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=right style="margin-bottom:.0001pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:right;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">[EX-99.CERT]&#8212;Exhibit&#160;
(a)(2)</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 302 CERTIFICATION</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I, Bradley J. Skapyak, certify
that:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">1.&#160; I have reviewed this report on
Form N-CSR of Dreyfus High Yield Strategies Fund;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.&#160; 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;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">3.&#160; 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;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">4.&#160; 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:</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(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;</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(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;</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(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</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(d) Disclosed in this report any change in the registrant'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's internal control over financial
reporting; </font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">5.&#160; 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):</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(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</font></p>

<p style="margin-bottom:6.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(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.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">By:&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">/s/
Bradley J. Skapyak_</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Bradley
J. Skapyak,</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Date:&#160;&#160;&#160; May
19, 2015</font></p>





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<p align=left style="margin-bottom:12.0pt;margin-left:228.0pt;margin-right:0in;margin-top:0in;text-align:left;text-indent:-1.0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">SECTION 302 CERTIFICATION</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">I, James Windels, certify that:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">1.&#160; I have reviewed this report on
Form N-CSR of Dreyfus High Yield Strategies Fund.;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">2.&#160; 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;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">3.&#160; 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;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">4.&#160; 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:</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(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;</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(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;</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(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</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(d) Disclosed in this report any change in the registrant'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's internal control over
financial reporting; </font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">5.&#160; 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):</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(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</font></p>

<p style="margin-bottom:12.0pt;margin-left:12.0pt;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">(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.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">By:&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">/s/
James Windels_</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; James
Windels,</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Treasurer</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Date:
&#160;&#160; May 19, 2015</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>



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<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=FR style="font-size:11.0pt;">[EX-99.906CERT]</font></p>

<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman" lang=FR style="font-size:11.0pt;">Exhibit (b)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=FR style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=FR style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin-bottom:24.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face="Times New Roman" lang=FR style="font-size:11.0pt;">SECTION 906
CERTIFICATIONS</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=FR style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">In connection with
this report on Form N-CSR for the Registrant as furnished to the Securities and
Exchange Commission on the date hereof (the &quot;Report&quot;), the
undersigned hereby certify, pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002, that:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (1)&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
Report fully complies with the requirements of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as applicable; and</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (2)&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
information contained in the Report fairly presents, in all material respects,
the financial condition and results of operations of the Registrant.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">By:&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">/s/ Bradley J. Skapyak_</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Bradley
J. Skapyak,</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Date:&#160;&#160;&#160; May 19, 2015</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">By:&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">/s/ James
Windels_</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; James
Windels,</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Treasurer</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:3.0in;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">Date:&#160;&#160;&#160; May 19, 2015</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><i><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">This certificate is
furnished pursuant to the requirements of Form N-CSR and shall not be deemed
&quot;filed&quot; for purposes of Section 18 of the Securities Exchange Act of
1934, or otherwise subject to the liability of that section, and shall not be
deemed to be incorporated by reference into any filing under the Securities Act
of 1933 or the Securities Exchange Act of 1934.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

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<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; May
29, 2015</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">Securities and
Exchange Commission</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">Office of
Filings and Information Services</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">100 F Street, NE</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">Washington, D.C.&#160; 20549</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Re:&#160;&#160;&#160;&#160;&#160;&#160; Dreyfus
High Yield Strategies Fund </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">File No.&#160; 811-08703</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">Dear Sir/Madam:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">Transmitted
for filing is Form N-CSR for the above-referenced Registrant for the annual
period ended March 31, 2015. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">Please
direct any questions or comments to the attention of the undersigned at (212) 922-6837.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Very
truly yours,</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font face="cg times" lang=EN-US style="font-size:12.0pt;">/s/Valini
R. Hsieh</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Valini
R. Hsieh</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Paralegal</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">VRH/</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="cg times" lang=EN-US style="font-size:12.0pt;">Enclosures</font></p>



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