5 Key Questions with ’27 in Sight

Source(s) of data (unless otherwise noted): PGIM as of August 24, 2026.

The information contained herein is provided by PGIM, the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates.

Please visit Important Disclosures on www.PGIM.com for additional information, including details on non-U.S. jurisdictions. This information is for informational purposes only and does not constitute investment advice, a recommendation, or a solicitation where prohibited. Certain information has been obtained from sources that PGIM believes to be reliable as of the date presented; however, PGIM does not guarantee its accuracy or completeness. Information may be changed without notice, and PGIM has no obligation to update it.

PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates. PGIM, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training. This material is provided for informational purposes only and is not intended as investment advice or a recommendation, nor is it a solicitation. Views and opinions expressed may not reflect PGIM's and are subject to change. Any forecasts or forward-looking statements are subject to uncertainty and are not guarantees of future results. Past performance is not a reliable indicator of future results. An investment cannot be made directly in an index. References to specific trades or positions reflect PGIM’s portfolio management activity and are not recommendations for individual investors. Please refer to the Terms and Conditions on www.pgim.com for important information.

PGIM and its affiliates may develop and publish research that is independent of and different from the information contained herein. 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. © 2026 Prudential Financial, Inc. (PFI) and its related entities. All rights reserved.

5868334_PGIM

Fixed income instruments are subject to credit, market, and interest rate. Emerging market investments are subject to greater volatility and price declines.

Certain information in this commentary has been obtained from sources believed to be reliable as of the date presented; however, we cannot guarantee the accuracy of such information, assure its completeness, or warrant such information will not be changed. The information contained herein is current as of the date of issuance (or such earlier date as referenced herein) and is subject to change without notice. The manager has no obligation to update any or all such information, nor do we make any express or implied warranties or representations as to the completeness or accuracy. Any projections or forecasts presented herein are subject to change without notice. Actual data will vary and may not be reflected here. Projections and forecasts are subject to high levels of uncertainty. Accordingly, any projections or forecasts should be viewed as merely representative of a broad range of possible outcomes. Projections or forecasts are estimated, based on assumptions, subject to significant revision, and may change materially as economic and market conditions change.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.
Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC.
PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies.
PGIM Credit is an investment group of PGIM, Inc. and PGIM Limited, each of which are registered investment advisors.
All are Prudential Financial affiliates. PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates.

© 2026 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Credit and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

5851957_PGIM ID 02282027