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Credit Ratings issued by Moody’s Credit Rating Affiliates are the relative relative merits of entities, credit commitments, debt or debt-like securities, and materials, products, services and information (collectively, “Publications”) issued by Moody’s. Current opinion on future credit risk. It may contain such current opinions. Moody’s defines credit risk as the risk that a company may not meet its contractual financial obligations when due and the estimated financial loss in the event of default or impairment. For information regarding the types of contractual financial obligations addressed by Moody’s credit ratings, please refer to the applicable Moody’s Rating Symbols and Definitions publication. Credit ratings do not address liquidity risk, market value risk, or other risks including, but not limited to, price fluctuations. Credit ratings, non-credit ratings (“Assessments”) and other opinions contained in Moody’s publications are not statements of current or historical fact. MOODY’S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY’S ANALYTICS, INC. AND/OR ITS AFFILIATES. MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS MAY NOT BE PURCHASED OF PARTICULAR SECURITIES. , to sell or to keep, nor is it offered. MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. Moody’s expects and understands that each investor will exercise due diligence and independent research and evaluation of each security that he or she is considering to purchase, hold or sell before assigning a credit rating, valuation, and other opinions and publishes publications.

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Moody’s Investors Service, a credit rating agency wholly owned by Moody’s Corporation (“MCO”), states that most issuers of debt securities (including corporate bonds, municipal bonds, debentures, notes and commercial paper) and preferred stock are Moody’s Investors Service, Inc. agrees to pay a fee ranging from $1,000 to approximately $5,000,000 for credit rating opinions and services provided by Moody’s Investors Service, Inc. prior to issuing a credit rating. I’m here. MCO and Moody’s Investors Service also maintain policies and procedures to address the independence of Moody’s Investors Service credit ratings and credit rating processes. May exist between MCO directors and rated entities, and between entities that hold Moody’s Investors Service credit ratings and publicly report to the SEC more than a 5% ownership interest in MCO. Information about specific partnerships is posted annually on www. .moodys.com under the heading “Investor Relations — Corporate Governance — Director and Shareholder Affiliation Policy.”

ADDITIONAL CONDITIONS FOR AUSTRALIA ONLY: Publication of this document in Australia is subject to the Australian Financial Services License of MOODY’S Affiliates, Moody’s Investors Service Pty Limited ABN 61 003 399 657AFSL 336969 and/or Moody’s Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL. Compliant. 383569 (if applicable). This document is intended to be provided only to “wholesale clients” within the meaning of Section 761G of the Companies Act 2001. Also note that, within the meaning of Section 761G of the Corporations Act 2001, neither you nor the business entity you represent distribute this document or its contents to “retail customers”, directly or indirectly. please give me. It is with respect to the creditworthiness of the issuer’s debt and does not take into account the issuer’s equity securities or any form of security available to individual investors.

Additional terms for Japan only: Moody’s Japan K.K. (“MJKK”) is a wholly owned credit rating agency of Moody’s Group Japan GK which is wholly owned by Moody’s Overseas Holdings Inc., a wholly owned subsidiary of MCO. Moody’s SF Japan K.K. (“MSFJ”) is a credit rating agency wholly owned by MJKK. MSFJ is not a Nationally Recognized Statistical Rating Organization (“NRSRO”). Therefore, the credit rating assigned by MSFJ is a Non-NRSRO credit rating. Because non-NRSRO credit ratings are issued by entities that are not NRSROs, the rated obligations are not eligible for certain types of treatment under US law. MJKK and MSFJ are credit rating agencies registered with the Financial Services Agency, and their registration numbers are Financial Services Agency Commissioner (Rating) No. 2 and 3, respectively.

MJKK or MSFJ (as applicable) recognizes that most issuers of debt securities (including corporate bonds, municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MJKK or MSFJ (as applicable) are credit We hereby disclose our holdings prior to assigning a rating. agreed to pay a fee ranging from ¥100,000 to approximately ¥550,000,000 for credit rating opinions and services provided by , MJKK or MSFJ (as applicable).

MJKK and MSFJ also maintain policies and procedures to meet Japanese regulatory requirements.

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