In the United Kingdom, info is issued 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"), information is issued by PGIM Netherlands B.V. with authorized 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 specific EEA countries, info is, where allowed, presented by PGIM Limited in dependence of provisions, exemptions or licenses readily available to PGIM Limited under momentary consent plans following the exit of the UK from the European Union. These products are provided by PGIM Limited and/or PGIM Netherlands B.V. to persons who are expert clients as specified under the guidelines of the FCA and/or to individuals who are professional customers as defined in the relevant local application of Directive 2014/65/EU (MiFID II). In Italy, information is offered by PGIM Limited authorized to operate in Italy by Commissione Nazionale per le Società e la Borsa (CONSOB). In Japan, information is provided 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 offers different investment management services in Japan. PGIMREJ is a Japanese property possession manager that is registered with the Kanto Local Finance Bureau of Japan. In Hong Kong, information is offered 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, details is released by PGIM (Singapore) Pte. Ltd. ("PGIM Singapore"), a controlled entity with the Monetary Authority of Singapore under a Capital Markets Services License to carry out fund management and an exempt monetary consultant. This material is released 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 relevant persons in accordance with the conditions specified in Section 305 of the SFA. In South Korea, info is provided by PGIM, Inc., which is accredited to supply discretionary financial investment management services straight to South Korean certified institutional investors on a cross-border basis. In Australia, info is released by PGIM (Australia) Pty Ltd ("PGIM Australia") for the basic info 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 info is supplied 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, investors should fit the criteria as set out in the Financial Markets Conduct Act 2013. In China, the details is offered at your demand and is not planned as financial investment advice or a suggestion about managing or investing properties.

In Canada, pursuant to the worldwide adviser 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 dependence upon an exemption from the consultant registration requirement under National Instrument 31-103; (2) PGIM, Inc.'s jurisdiction of home is New Jersey, U.S.A.; (3) there might be trouble enforcing legal rights versus PGIM, Inc. because it is resident beyond Canada and all or substantially all of its possessions might be positioned beyond Canada; and (4) the name and address of the agent for service of process of PGIM, Inc. in the appropriate 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 LLP, 530 Third Avenue S.W., Calgary, AB T2P R3.

Prudential Financial, Inc. of the United States is not connected in any manner 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 associated entities, registered in many jurisdictions worldwide.

These materials are for educational or educational functions only.

All financial investments involve risks, including possible loss of principal. Past efficiency is not indicative of future results.
faqtoids.com
The info consisted of herein is provided by PGIM, the primary asset management company of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries. PGIM, Inc. is a financial investment advisor 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 authorized office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority ("FCA") of the United Kingdom (Firm Reference Number 193418). In the European Economic Area ("EEA"), details is provided by PGIM Netherlands B.V. with authorized 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 specific EEA countries, info is, where permitted, provided by PGIM Limited in reliance of provisions, exemptions or licenses available to PGIM Limited under short-lived consent arrangements following the exit of the United Kingdom from the European Union. These products are issued by PGIM Limited and/or PGIM Netherlands B.V. to individuals who are expert clients as defined 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 operate in Italy by Commissione Nazionale per le Società e la Borsa (CONSOB). In Japan, details is offered 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 offers different investment management services in Japan. PGIMREJ is a Japanese real estate property supervisor that is registered with the Kanto Local Finance Bureau of Japan. In Hong Kong, info is supplied by PGIM (Hong Kong) Limited, a controlled entity with the Securities & Futures Commission in Hong Kong to expert investors as specified in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, details is provided by PGIM (Singapore) Pte. Ltd. ("PGIM Singapore"), a controlled entity with the Monetary Authority of Singapore under a Capital Markets Services License to carry out fund management and an exempt financial adviser. This material is issued by PGIM Singapore for the general information of "institutional investors" pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the "SFA") and "recognized investors" and other appropriate persons in accordance with the conditions defined in Section 305 of the SFA. In South Korea, info is released by PGIM, Inc., which is accredited to offer discretionary financial investment management services straight to South Korean qualified institutional investors on a cross-border basis. In Australia, information is released by PGIM (Australia) Pty Ltd ("PGIM Australia") for the basic information of its wholesale customers (as defined in the Corporations Act 2001). PGIM Australia is an Australian financial services ("AFS") licence holder (AFS licence number 544946). The information is supplied 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 investor in New Zealand, financiers need to fit the requirements as set out in the Financial Markets Conduct Act 2013. In China, the info is provided at your demand and is not intended as financial investment recommendations or a suggestion about handling or investing possessions.

In Canada, pursuant to the international consultant registration exemption in National Instrument 31-103, PGIM, Inc. is informing you that: (1) PGIM, Inc. is not registered in Canada and is recommending you in dependence upon an exemption from the consultant registration requirement under National Instrument 31-103; (2) PGIM, Inc.'s jurisdiction of home is New Jersey, U.S.A.; (3) there may be difficulty implementing legal rights against PGIM, Inc. since it is resident beyond Canada and all or considerably all of its possessions may be positioned outside of 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 intended as financial investment guidance and is not a recommendation about managing or investing possessions or a deal or solicitation in respect of any service or products to anybodies who are restricted from getting such details under the laws appropriate to their location of citizenship, residence or house. In offering these products, PGIM is not functioning as your fiduciary. These materials represent the views, viewpoints and suggestions of the author(s) concerning the economic conditions, asset classes, securities, issuers or financial instruments referenced herein. Certain information has actually been obtained from sources that PGIM thinks to be trustworthy since the date provided; however, PGIM can not ensure the precision of such details, guarantee its completeness, or warrant such info will not be changed. This details, including forecasts and projections, is current as of the date of issuance (or an earlier referenced date) and goes through change without notification. PGIM has no responsibility to update such information; nor do we make any express or implied guarantees or representations as to the efficiency or accuracy or accept obligation for mistakes. PGIM and its affiliates might establish and publish research that is independent of, and different than, the recommendations contained herein. References to particular securities are for illustrative functions just and are not meant and should not be translated as suggestions to purchase, hold, or sell such securities.