EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA)

Notice to Clients of the Corporate & Investment Bank which are ERISA plans, plan fiduciaries or representatives, participants or beneficiaries, individualized retirement accounts (IRA) or IRA owners

Unless otherwise specified, documents, materials or information found on public websites maintained by the J.P. Morgan Corporate & Investment Bank and/or the J.P. Morgan Commercial Bank, operating through JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC and other affiliates (collectively, the “J.P. Morgan Entities”) are intended to be general communications or educational materials provided for informational purposes only, and examples used in such documents, materials or information are generic, hypothetical and for illustration purposes only. Such documents, materials or information are not directed to you as or designed to be a recommendation for any specific investment property, strategy, portfolio composition, persons to provide investment advisory or management services, or other similar purposes, and should not be understood to be based on your particular investment needs, and should not be construed as a suggestion by the J.P. Morgan Entities, its affiliates or representatives that the recipient or any other person take or refrain from taking a specific course of action or any action at all. Documents, materials or information provided in connection with sales and marketing activities of the J.P. Morgan Corporate & Investment Bank and/or the J.P. Morgan Commercial Bank are not impartial and are not intended to constitute advice given in a fiduciary capacity in connection with any transaction. Personnel of the J.P. Morgan Corporate & Investment Bank and/or the J.P. Morgan Commercial Bank are not authorized to provide investment recommendations or investment advice to you or enter into Transactions with you involving the giving of investment recommendations or investment advice other than on the basis of one or more exceptions available under 29 C.F.R. § 2510.3-21 (including the exception for transactions with independent fiduciaries with financial expertise). The receipt by you of any such documents, materials or information is subject to your agreement with and acknowledgement of the foregoing.