In the UK, information is provided by PGIM Limited with authorized office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N5HR. PGIM Limited is authorised and controlled by the Financial Conduct Authority ("FCA") of the United Kingdom (Firm Reference Number 193418). In the European Economic Area ("EEA"), details is issued by PGIM Netherlands B.V. with registered office: Eduard van Beinumstraat 6 1077CZ, Amsterdam, The Netherlands. PGIM Netherlands B.V. is, authorised by the Autoriteit Financiële Markten ("AFM") in the Netherlands (Registration number 15003620) and running on the basis of a European passport. In particular EEA nations, info is, where permitted, provided by PGIM Limited in dependence of provisions, exemptions or licenses offered to PGIM Limited under short-lived permission arrangements following the exit of the UK from the European Union. These products are provided by PGIM Limited and/or PGIM Netherlands B.V. to individuals who are professional clients as defined under the guidelines of the FCA and/or to individuals who are expert clients as specified in the pertinent local implementation of Directive 2014/65/EU (MiFID II). In Italy, info is provided by PGIM Limited licensed to operate in Italy by Commissione Nazionale per le Società e la Borsa (CONSOB). In Japan, information is supplied by PGIM Japan Co., Ltd. ("PGIM Japan") and/or PGIM Real Estate (Japan) Ltd. ("PGIMREJ"). PGIM Japan, a registered Financial Instruments Business Operator with the Financial Services Agency of Japan uses different investment management services in Japan. PGIMREJ is a Japanese realty property supervisor that is registered with the Kanto Local Finance Bureau of Japan. In Hong Kong, details is provided by PGIM (Hong Kong) Limited, a controlled entity with the Securities & & Futures Commission in Hong Kong to professional investors as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, info is released by PGIM (Singapore) Pte. Ltd. ("PGIM Singapore"), a regulated entity with the Monetary Authority of Singapore under a Capital Markets Services License to conduct fund management and an exempt monetary consultant. This material is provided by PGIM Singapore for the general details of "institutional financiers" pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the "SFA") and "accredited investors" and other appropriate persons in accordance with the conditions defined in Section 305 of the SFA. In South Korea, details is issued by PGIM, Inc., which is accredited to supply discretionary financial investment management services directly to South Korean certified institutional financiers on a cross-border basis. In Australia, info is provided by PGIM (Australia) Pty Ltd ("PGIM Australia") for the general details of its wholesale customers (as defined in the Corporations Act 2001). PGIM Australia is an Australian monetary services ("AFS") licence holder (AFS licence number 544946). The details is offered to wholesale financiers in accordance with Schedule 1, Clause 3 of the Financial Markets Conduct Act 2013 in New Zealand. To invest as a wholesale investor in New Zealand, financiers need to fit the criteria as set out in the Financial Markets Conduct Act 2013. In China, the details is offered at your request and is not intended as financial investment recommendations or a suggestion about handling or investing properties.

In Canada, pursuant to the international advisor registration exemption in National Instrument 31-103, PGIM, Inc. is informing you that: (1) PGIM, Inc. is not signed up in Canada and is encouraging you in reliance upon an exemption from the consultant registration requirement under National Instrument 31-103; (2) PGIM, Inc.'s jurisdiction of house is New Jersey, U.S.A.; (3) there might be problem enforcing legal rights versus PGIM, Inc. due to the fact that it is resident outside of Canada and all or significantly all of its possessions may be located outside of Canada; and (4) the name and address of the agent for service of procedure of PGIM, Inc. in the relevant Provinces of Canada are as follows: in Québec: Borden Ladner Gervais LLP, 1000 de La Gauchetière Street West, Suite 900 Montréal, QC H3B 5H4; in British Columbia: Borden Ladner Gervais LLP, 1200 Waterfront Centre, 200 Burrard Street, Vancouver, BC V7X 1T2; in Ontario: Borden Ladner Gervais LLP, 22 Adelaide Street West, Suite 3400, Toronto, ON M5H 4E3; in Nova Scotia: Cox & & Palmer, Q.C., 1100 Purdy's Wharf Tower One, 1959 Upper Water Street, P.O. Box 2380 - Stn Central RPO, Halifax, NS B3J 3E5; in Alberta: Borden Ladner Gervais LLP, 530 Third Avenue S.W., Calgary, AB T2P R3.

Prudential Financial, Inc. of the United States is not affiliated in any way with Prudential plc, included in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

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

These materials are for informative or educational purposes only.

All financial investments involve dangers, including possible loss of principal. Past efficiency is not indicative of future outcomes.

The details included herein is offered by PGIM, the principal possession management service of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its international subsidiaries. PGIM, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of ability or training.

In the UK, information is issued by PGIM Limited with registered workplace: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N5HR. PGIM Limited is authorised and controlled by the Financial Conduct Authority ("FCA") of the United Kingdom (Firm Reference Number 193418). In the European Economic Area ("EEA"), information is issued by PGIM Netherlands B.V. with registered office: Eduard van Beinumstraat 6 1077CZ, Amsterdam, The Netherlands. PGIM Netherlands B.V. is, authorised by the Autoriteit Financiële Markten ("AFM") in the Netherlands (Registration number 15003620) and operating on the basis of a European passport. In certain EEA nations, information is, where permitted, provided by PGIM Limited in dependence of provisions, exemptions or licenses available to PGIM Limited under momentary permission arrangements following the exit of the UK from the European Union. These products are released by PGIM Limited and/or PGIM Netherlands B.V. to persons who are professional clients as specified under the rules of the FCA and/or to persons who are expert clients as defined in the pertinent regional implementation of Directive 2014/65/EU (MiFID II). In Italy, details is provided by PGIM Limited authorized to run in Italy by Commissione Nazionale per le Società e la Borsa (CONSOB). In Japan, details is supplied by PGIM Japan Co., Ltd. ("PGIM Japan") and/or PGIM Real Estate (Japan) Ltd. ("PGIMREJ"). PGIM Japan, a signed up Financial Instruments Business Operator with the Financial Services Agency of Japan uses numerous financial investment management services in Japan. PGIMREJ is a Japanese realty asset manager that is signed up with the Kanto Local Finance Bureau of Japan. In Hong Kong, details is supplied by PGIM (Hong Kong) Limited, a managed entity with the Securities & Futures Commission in Hong Kong to professional financiers as specified in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, information is provided by PGIM (Singapore) Pte. Ltd. ("PGIM Singapore"), a regulated entity with the Monetary Authority of Singapore under a Capital Markets Services License to perform fund management and an exempt monetary adviser. This material is released by PGIM Singapore for the basic info of "institutional financiers" pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the "SFA") and "certified financiers" and other pertinent persons in accordance with the conditions specified in Section 305 of the SFA. In South Korea, info is released by PGIM, Inc., which is certified to provide discretionary investment management services directly to South Korean certified institutional financiers on a cross-border basis. In Australia, information is issued by PGIM (Australia) Pty Ltd ("PGIM Australia") for the basic details of its wholesale clients (as specified in the Corporations Act 2001). PGIM Australia is an Australian monetary services ("AFS") licence holder (AFS licence number 544946). The information is offered to wholesale investors in accordance with Schedule 1, Clause 3 of the Financial Markets Conduct Act 2013 in New Zealand. To invest as a wholesale financier in New Zealand, financiers should fit the requirements as set out in the Financial Markets Conduct Act 2013. In China, the info is supplied at your demand and is not intended as financial investment recommendations or a suggestion about managing or investing properties.

In Canada, pursuant to the global adviser registration exemption in National Instrument 31-103, PGIM, Inc. is notifying you that: (1) PGIM, Inc. is not registered in Canada and is encouraging you in reliance upon an exemption from the advisor registration requirement under National Instrument 31-103; (2) PGIM, Inc.'s jurisdiction of residence is New Jersey, U.S.A.; (3) there might be problem implementing legal rights versus PGIM, Inc. because it is resident beyond Canada and all or considerably all of its assets may be located beyond Canada; and (4) the name and address of the representative for service of process of PGIM, Inc
. in the suitable Provinces of Canada are as follows: in Québec: Borden Ladner Gervais LLP, 1000 de La Gauchetière Street West, Suite 900 Montréal, QC H3B 5H4; in British Columbia: Borden Ladner Gervais LLP, 1200 Waterfront Centre, 200 Burrard Street, Vancouver, BC V7X 1T2; in Ontario: Borden Ladner Gervais LLP, 22 Adelaide Street West, Suite 3400, Toronto, ON M5H 4E3; in Nova Scotia: Cox & Palmer, Q.C., 1100 Purdy's Wharf Tower One, 1959 Upper Water Street, P.O. Box 2380 - Stn Central RPO, Halifax, NS B3J 3E5; in Alberta: Borden Ladner Gervais LLP, 530 Third Avenue S.W., Calgary, AB T2P R3.

This info is not planned as investment suggestions and is not a suggestion about managing or investing properties or a deal or solicitation in regard of any products or services to anyones who are forbidden from getting such information under the laws relevant to their place of citizenship, domicile or house. In supplying these materials, PGIM is not functioning as your fiduciary. These products represent the views, opinions and recommendations of the author(s) relating to the economic conditions, possession classes, securities, issuers or monetary instruments referenced herein. Certain info has been obtained from sources that PGIM thinks to be reputable since the date provided; nevertheless, PGIM can not guarantee the precision of such info, assure its completeness, or warrant such details will not be changed. This information, consisting of forecasts and forecasts, is current since the date of issuance (or an earlier referenced date) and goes through alter without notification. PGIM has no responsibility to update such details; nor do we make any express or implied guarantees or representations regarding the completeness or accuracy or accept obligation for mistakes. PGIM and its affiliates may develop and publish research study that is independent of, and various than, the recommendations consisted of herein. References to specific securities are for illustrative functions just and are not meant and ought to not be analyzed as suggestions to acquire, hold, or sell such securities.