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MARGIN INFORMATION: F YOU MAINTAIN A MARGIN ACCOUNT. THIS IS A COMBINED STATEMENT OF
YOUR GENERAL ACCOUNT AND A SPECIAL MEMORANDUM ACCOUNT MAINTAINED FOR YOU UNDER
REGULATION T OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. THE PERMANENT
RECORD OF THE SEPARATE ACCOUNT AS REQUIRED BY REGULATION T IS AVALABLE FOR YOUR
NSPECTION UPON REQUEST.
TAX INFORMATION
• AFTER YEAR END. PERSHING IS REQUIRED TO PROVIDE TAX INFORMATION TO THE INTERNAL
REVENUE SERVICE AND OTHER GOVERNMENTAL AUTHORITIES. AT THAT TIME PERSHING WILL
PROVIDE THAT INFORMATION ON THE ANNUAL TAX INFORMATION STATEMENT TO YOU: USE THAT
STATEMENT TO PREPARE YOUR TAX FLINGS. THE TAX STATEMENT ALSO INCLUDES OTHER USEFUL
INFORMATION TO ASSIST IN ACCUMULATING THE DATA TO PREPARE YOUR TAX RETURNS.
• DIVIDENDS. INTEREST AND OTHER DISTRIBUTIONS SHOWN ON THIS STATEMENT WERE CLASSFIED
AS TAXABLE OR NONTAXABLE BASED ON CERTAIN INFORMATION KNOWN AS OF THE DISTRIBUTION
DATE. THIS CLASSFICATION IS SUBJECT TO CHANGE AND IS SOLELY INTENDED FOR USE AS
GENERAL INFORMATION.
• PERSHING DOES NOT PROVIDE TAX. INVESTMENT OR LEGAL ADVISORY SERVICES AND NO ONE
ASSOCIATED WITH PERSHING IS AUTHORIZED TO RENDER SUCH ADVICE. DO NOT RELY UPON ANY
SUCH ADVICE. IF GIVEN. INVESTORS ARE ENCOURAGED TO CONSULT THEIR TAX ADVISORS TO
DETERMINE THE APPROPRIATE TAX TREATMENT OF THEIR BUSINESS.
GENERAL INFORMATION
• WHENEVER YOU ARE INDEBTED TO PERSHING LLC ("PERSHING') FOR ANY AMOUNT. ALL SECURITIES
HELD BY IT FOR YOU IN ANY ACCOUNT IN WHICH YOU HAVE ANY INTEREST SHALL SECURE ALL YOUR
LIABILITIES TO PERSHING. AND PERSHING MAY IN ITS DISCRETION AT ANY TIME. WITHOUT TENDER.
DEMAND OR NOTICE TO YOU, CLOSE OR REDUCE ANY OR ALL OF YOUR ACCOUNTS BY PUBLIC OR
PRIVATE SALE OR PURCHASE OR BOTH OF ALL OR ANY SECURITIES CARRIED IN SUCH ACCOUNTS:
ANY BALANCE REMAINING DUE PERSHING TO BE PROMPTLY PAID BY YOU.
• WHENEVER YOU ARE INDEBTED TO PERSHING FOR ANY AMOUNT. ALL SECURITIES CARRIED FOR
YOUR ACCOUNT ARE OR MAY BE, WITHOUT FURTHER NOTICE TO YOU. LOANED OR PLEDGED BY
PERSHING, EITHER SEPARATELY OR UNDER CIRCUMSTANCES WHICH WILL PERMIT THE
COMMINGLING THEREOF, WITH OTHER SECURITIES FOR ANY AMOUNT LESS THAN. EQUAL TO OR
GREATER THAN YOUR UABILMES TO PERSHING. BUT NOT UNDER CIRCUMSTANCES FOR AN AMOUNT
PROHIBITED BY LAW.
• PERSHING MAY TRADE FOR ITS OWN ACCOUNT AS A MARKET MAKER. SPECIALIST. ODD LOT DEALER.
BLOCK POSITIONER. ARBITRAGEUR OR INVESTOR. CONSEQUENTLY. AT THE TIME OF ANY
TRANSACTION YOU MAY MAKE, PERSHNG MAY HAVE A POSITION IN SUCH SECURITIES, WHICH
POSITION MAY BE PARTIALLY OR COMPLETELY HEDGED.
• IF AVERAGE PRICE TRANSACTION IS INDICATED ON THE FRONT OF THIS STATEMENT YOUR
FINANCIAL INSTITUTION OR PERSHING MAY HAVE ACTED AS PRINCIPAL. AGENT OR BOTH. DETALS
AVAILABLE UPON REQUEST.
• A FINANCIAL STATEMENT OF PERSHING IS AVAILABLE FOR YOUR PERSONAL INSPECTION AT
PERSHING'S OFFICES. A COPY OF IT WILL BE MAILED UPON YOUR WRITTEN REQUEST OR YOU CAN
VIEW IT ONLINE AT WWW.PERSHING.COM.
• FOR BUSINESS CONTINUITY AND ADDITIONAL DISCLOSURES: WWW.PERSHNO.COMIDISCLOSURES.
• THIS STATEMENT SHOULD BE RETAINED FOR YOUR RECORDS.
PAYMENT FOR ORDER FLOW AND ORDER ROUTING POLICIES DISCLOSURES (REGULATION NMS-
RULE 607(A)(1)-(2))
PERSHING SENDS CERTAIN EQUITY ORDERS TO EXCHANGES, ELECTRONIC COMMUNICATION
NETWORKS, OR BROKER-DEALERS DURING NORMAL BUSINESS HOURS AND DURING EXTENDED
TRADNG SESSIONS. CERTAIN OF THESE VENUES PROVIDE PAYMENTS TO PERSHING OR CHARGE
ACCESS FEES TO PERSHING DEPENDING UPON THE CHARACTERISTICS OF THE ORDER AND ANY
SUBSEQUENT EXECUTION. THE DETALS OF THESE PAYMENTS AND FEES ARE AVAILABLE UPON
WRITTEN REQUEST. PERSHING REGENTS PAYMENTS FOR DIRECTING LISTED OPTIONS ORDER FLOW
TO CERTAIN OPTION EXCHANGES. IN ADDITION. PERSHING ROUTES CERTAIN EQUITY AND OPTION
ORDERS TO ITS AFFILIATE. BNY MELLON CAPITAL MARKETS. LLC, FOR EXECUTION AS PRINCIPAL.
COMPENSATION IS GENERALLY IN THE FORM OF A PER OPTION CONTRACT CASH PAYMENT.
BEST EXECUTION: NOTWITHSTANDING THE PREVIOUS PARAGRAPH REGARDING PAYMENT FOR ORDER
FLOW. PERSHING SELECTS CERTAIN MARKET CENTERS TO PROVIDE EXECUTION OF OVER-THE-
COUNTER AND EXCHANGE-LISTED SECURITIES TRANSACTIONS WHICH AGREE TO ACCEPT ORDERS.
TRANSMITTED ELECTRONICALLY UP TO A SPECIFIED SIZE. AND TO EXECUTE THEM AT OR BETTER THAN
THE NATIONAL BEST BID OR OFFER (NBBO). ON CERTAIN LARGER ORDERS, OR F THE DESIGNATED
MARKET CENTERS DO NOT MAKE A MARKET IN THE SUBJECT SECURITY. PERSHING DIRECTLY
CONTACTS MARKET CENTERS TO OBTAIN AN EXECUTION. THE DESIGNATED MARKET CENTERS TO
WHICH ORDERS ARE AUTOMATICALLY ROUTED ARE SELECTED BASED ON THE CONSISTENT HIGH
QUALITY OF THEIR EXECUTIONS IN ONE OR MORE MARKET SEGMENTS AND THEIR ABLITY TO PROVIDE
OPPORTUNITIES FOR EXECUTIONS AT PRICES SUPERIOR TO THE NBBO. PERSHING ALSO REGULARLY
REVIEWS REPORTS FOR QUALITY OF EXECUTION PURPOSES.
IF ANY OF THE ABOVE TERNS MC CONMIONS ARE UNACCEPTABLE 10 YOU. PLEASE NOTIFYPERS-MI6 SIMEDLATELY II WRITING SY CERTIFIED AWL TO ONE PERSHING PLAZA. JERSEY CITY. NJ 07390 ATM LEGAL DEPT