¹The sample investment activity represents properties or companies that the PGIM Private Alternatives’ credit platform invested in via a loan instrument at the specified dates or properties that became part of various PGIM Real Estate equity strategies' portfolios at the specified dates. These investments are representative of the specified sectors. The investment information and all images are for illustrative purposes only. The investments were selected to provide an overview of the types of transactions that PGIM Private Alternatives executes across the risk-return spectrum, and are not intended to constitute investment advice. There are other portfolio holdings with these and other transaction types. There can be no assurance that PGIM Private Alternatives will be able to make similar investments in the future or that future investments will be profitable or available on similar terms.