PineBridge Investments is a group of international companies acquired by Pacific Century Group from American International Group, Inc. in March 2010. PineBridge companies provide investment advice and market asset management products and services to clients around the world. PineBridge Investments is a service mark proprietary to PineBridge Investments IP Holding Company Limited. Services and products are provided by one or more affiliates of PineBridge Investments. Certain middle and back office functions incidental to the services and products provided by PineBridge Investments and its affiliates may be outsourced to third parties.

Opinions: Any opinions expressed in this document may be subject to change without notice. We are not soliciting or recommending any action based on this material.

Risk Warning: Past performance is not indicative of future results. Our investment management services relate to a variety of investments, each of which can fluctuate in value. The value of portfolios we manage may fall as well as rise, and the investor may not get back the full amount originally invested. The investment risks vary between different types of instruments. For example, for investments involving exposure to a currency other than that in which the portfolio is denominated, changes in the rate of exchange may cause the value of investments, and consequently the value of the portfolio, to go up or down. In the case of a higher volatility portfolio the loss on realization or cancellation may be very high (including total loss of investment), as the value of such an investment may fall suddenly and substantially. In making an investment decision, prospective investors must rely on their own examination of the merits and risks involved.

Unless otherwise noted, all information contained herein is sourced from PineBridge Investments internal data. The content included herein has been shared with various in-house departments within the member companies of PineBridge Investments, in the ordinary course of completion. All PineBridge Investments member companies comply with the confidentiality requirements of their respective jurisdictions.

Parts of this presentation may be based on information received from sources we consider reliable. We do not represent that all of this information is accurate or complete, however, and it may not be relied upon as such.

PineBridge Investments Europe Limited is authorised and regulated by the Financial Services Authority ("FSA"). In the UK this communication is a financial promotion solely intended for professional clients as defined in the FSA Handbook and has been approved by PineBridge Investments Europe Limited.

Approved by PineBridge Investments Ireland Limited. This entity is authorised and regulated by the Central Bank of Ireland.

In Australia, this document is intended for a limited number of wholesale clients as such term is defined in chapter 7 of the Corporations Act 2001 (CTH). The entity receiving this document represents that if it is in Australia, it is a wholesale client and it will not distribute this document to any other person whether in or outside of Australia.

In Hong Kong, in relation to collective investment schemes which are subject to the Advertising Guidelines Applicable to Collective Investment Schemes Authorized under the Product Codes issued by the Securities and Futures Commission (SFC), the issuer of this document is PineBridge Investments Hong Kong Limited, licensed and regulated by the SFC. It has not been reviewed by the SFC.

PineBridge Investments Singapore Limited is licensed and regulated by the Monetary Authority of Singapore (the”MAS”). In Singapore, this material is intended for an institutional investor as defined in Section 4A of the Securities and Futures Act (Chapter289). This material is not reviewed or endorsed by the MAS.

PineBridge Investments Middle East Limited is regulated by the Dubai Financial Services Authority. When being offered by PineBridge Investments Middle East Limited this document is intended for Professional Clients only and no other person should act upon it. The financial products and services to which this material relates will only be made available to persons who meet the regulatory criteria to be treated as Professional Clients of PineBridge Investments Middle East Limited.