Securitized Products Roundtable

Research evidence excerpt

Securitized Products Roundtable

Citi Research

recommendations published during the preceding 12-month period can be accessed via Citi Velocity (https://www.citivelocity.com/cv2) or your standard

distribution portal. Historical disclosures (for up to the past three years) will be provided upon request.

RESEARCH ANALYST AFFILIATIONS / NON-US RESEARCH ANALYST DISCLOSURES

The legal entities employing the authors of this report are listed below (and their regulators are listed further herein). Non-US research analysts who have

prepared this report (i.e., all research analysts listed below other than those identified as employed by Citigroup Global Markets Inc.) are not

registered/qualified as research analysts with FINRA. Such research analysts may not be associated persons of the member organization (but are

employed by an affiliate of the member organization) and therefore may not be subject to the FINRA Rule 2241 restrictions on communications with a

subject company, public appearances and trading securities held by a research analyst account.

Maria Zhang; Jeffrey Berenbaum; Susan Wang; Wei Guan; Aditi Memani; Isabella

Citigroup Global Markets Inc.

Chen; Eugene Belostotsky; Jovita Li; John Jenkins, CFA

Citigroup Global Markets Limited Aritra Banerjee; Ratul Roy

OTHER DISCLOSURES

Any price(s) of instruments mentioned in recommendations are as of the prior day’s market close on the primary market for the instrument, unless

otherwise stated.

The completion and first dissemination of any recommendations made within this research report are as of the Eastern date-time displayed at the top of

the Product. If the Product references views of other analysts then please refer to the price chart or rating history table for the date/time of completion