PGIM INVESTMENTSPGIMINVESTMENTS

Sources of data (unless otherwise noted) are as of 30/06/2020.

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

2. PFI is the 10th-largest investment manager (out of 527) in terms of global AUM based on the Pensions & Investments Top Money Managers list published on 1/6/2019. This ranking represents assets managed by PFI as of 31/3/2020.

3. 79 funds domiciled in the United States and 29 funds domiciled in Ireland. Funds domiciled in Ireland are only registered for sale in certain jurisdictions.

4. Based on PGIM client list as June 30, 2020 compared to P&I/Towers Watson Top 300 Pension Funds ranking, data as of December 31, 2018, published September 2019.

AWARDS & RECOGNITIONS FOOTNOTES

1. €109,945 AUM measured as of 30/06/17. Represents the combined assets of PGIM Real Estate and PGIM Real Estate Finance, two business units within PGIM, Inc. that provide real estate investment management and commercial mortgage loan services respectively, through PGIM, Inc. and some of its global subsidiaries.
2. Received June 2018 based on data as of December 31, 2017. Award recipients are selected by a panel of judges from a cross-section of the pension and asset management businesses including associations, pension funds/trustees, consultants, asset managers, and other providers. Potentially conflicted judges cannot evaluate their own category, i.e., an asset manager cannot evaluate another asset manager. Judges assess a specific set of criteria for each category, including both quantitative measures and qualitative considerations provide in each firm’s submitted strategy. A shortlist is published for each category followed by an announcement of the winning candidate.
3. Received in May 2017 primarily for 3-and 5-year risk-adjusted returns as of December 31, 2016. Methodology: AsianInvestor (AI) assessed performance data through year-end 2016 from the Mercer and eVestmentdatabases to ascertain the leading performers by total and risk-adjusted returns, Sharpe ratios, and information ratios with an emphasis on 3-and 5-year returns. From this analysis, AI short-listed two to three performers and then asked the candidates to provide more data and background, including resources and strategies pursued to enhance returns. AI selected a winner based upon the combined quantitative and qualitative factors.
4. Creditflux Manager of the Year 2017 methodology is based on the highest average ranking across all Creditflux award categories where the manager is present. Creditflux Best European CLO award methodology is based on blended outperformance. Creditflux Best European high yield fund methodology is based on volatility-adjusted weighted performance. More information on the methodology can be found on Creditflux's website (www.creditflux.com). 
5. Received in November 2019 based on data as of June 2019. Methodology: A shortlist drawn up in association with highlights on asset managers with strong performance and relative growth in AUM over the 12 months to 30 June  2019, along with solid performance over the past three years. Winners are decided by a panel of industry judges based on this data and a questionnaire prepared by the shortlisted entrants describing the firm, products, and services.

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