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The views, opinions and investment information expressed are those of the individuals noted herein, do not necessarily represent the views of Northern Trust or any other person in the Northern Trust organization and are subject to change based on market or other conditions. The material is provided for informational purposes only and should not be construed as investment, tax or legal advice or a recommendation to buy or sell a security. Northern Trust disclaims any responsibility to update such views. Northern Trust does not guarantee that the information supplied is accurate, complete or timely and does not make any warranties with regard to the results obtained from its use. Northern Trust does not guarantee the suitability or potential value of any particular investment or information source. You should consult your investment, tax, legal and accounting professionals before taking any action.

IRS CIRCULAR 230 NOTICE: To the extent that this message or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. For more information about this notice, seehttp://www.northerntrust.com/circular230.

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