Citadel Securities Institutional Equities & ETF Sales and Trading Disclosures

INSTITUTIONAL USE ONLY ––– NOT A PRODUCT OF RESEARCH

THIS MATERIAL AND ITS CONTENTS (COLLECTIVELY, THIS “MATERIAL”) IS FOR INFORMATIONAL PURPOSES ONLY AND MAY CHANGE AT ANY TIME FOR ANY REASON AND WITHOUT NOTICE.  THIS MATERIAL IS STRICTLY CONFIDENTIAL, CONTAINS CITADEL LLC PROPRIETARY INFORMATION OR OTHER INFORMATION PROTECTED BY INTELLECTUAL PROPERTY LAWS, AND MAY NOT BE DISCLOSED TO ANY PERSONS OTHER THAN THOSE FOR WHOM IT IS INTENDED.  THIS MATERIAL MUST NOT BE COPIED, DISTRIBUTED, OR REDISTRIBUTED, IN WHOLE OR IN PART, WITHOUT THE PRIOR WRITTEN CONSENT OF CITADEL LLC.

THE INFORMATION PROVIDED IN THIS MATERIAL IS OF GENERAL NATURE AND FOR INFORMATION PURPOSES ONLY.  IT SHALL NOT BE CONTRUED AS AN ADVERTISEMENT.  THIS MATERIAL DOES NOT CONSTITUTE AN OFFER, SOLICITATION, INVITATION OR INDUCEMENT TO PURCHASE, ACQUIRE, SUBSCRIBE TO, PROVIDE OR SELL ANY FINANCIAL INSTRUMENT.  THIS MATERIAL DOES NOT CONSTITUTE OR FORM PART OF ANY INVITATION, SOLICITATION OR INDUCEMENT TO ENGAGE IN INVESTMENT ACTIVITY OR FINANCIAL SERVICE (FOR EXAMPLE, UNDER SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 200 (AS AMENDED) OR UNDER THE SWISS FINANCIAL SERVICES ACT).  THIS MATERIAL DOES NOT CONSTITUTE A RECOMMENDATION REGARDING ANY FINANCIAL INSTRUMENT AND MUST NOT FORM THE BASIS FOR OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT OR INVESTMENT DECISION.  THIS MATERIAL MAY CONSTITUTE AN INVITATION TO CONSIDER ENTERING INTO DERIVATIVES TRANSACTIONS UNDER CFTC RULES 1.71 AND 23.605, BUT IN NO CASE SERVES AS A BINDING OFFER TO BUY OR SELL ANY INSTRUMENT OR ENTER INTO ANY TRANSACTION.

IF YOU ARE CONSIDERING ENGAGING IN ANY INVESTMENT ACTIVITY, YOU SHOULD SEEK APPROPRIATE INDEPENDENT FINANCIAL ADVICE AND MAKE YOUR OWN ASSESSMENT.  IT IS EMPHASIZED THAT THIS DOCUMENT IS BEING SENT TO YOU IN RELIANCE UPON YOUR ACKNOWLEDGEMENT AND ACCEPTANCE THAT THIS DOCUMENT IS BEING SOLELY MADE TO AND DIRECTED AT OR PERSONS WHO ARE REASONABLY BELIEVED TO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS AND WHO ARE OTHERWISE PERMITTED BY LAW TO RECEIVE IT (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS RELEVANT PERSONS).  THIS DOCUMENT MUST NOT BE ACTED UPON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY RECIPIENT OF THIS DOCUMENT WHO IS NOT A RELEVANT PERSON SHOULD RETURN IT TO CITADEL IMMEDIATELY AND TAKE NO OTHER ACTION.

FOR ADDITIONAL IMPORTANT DISCLAIMERS AND FOR INFORMATION RELATING TO ANY ETFS DISCUSSED, INCLUDING THE REGISTRATION STATEMENT, PLEASE REFER TO THE ISSUER’S WEBSITE.  IF YOU REQUIRE FURTHER ASSISTANCE IN LOCATING RELEVANT ETF DOCUMENTATION, PLEASE REACH OUT TO YOUR CITADEL SECURITIES SALES COVERAGE.

IN THE U.S., SECURITIES ACTIVITY WITH BROKER-DEALERS AND FX ACTIVITY ARE CONDUCTED BY CITADEL SECURITIES LLC (MEMBER FINRA AND SIPC), SECURITIES ACTIVITY WITH NON-BROKER-DEALERS IS CONDUCTED BY CITADEL SECURITIES INSTITUTIONAL LLC (MEMBER FINRA AND SIPC), AND SWAPS ACTIVITY IS CONDUCTED BY CITADEL SECURITIES SWAP DEALER LLC IN THE U.K., SWAPS ACTIVITY IS CONDUCTED BY CITADEL SECURITIES (EUROPE) LIMITED. FOR RECIPIENTS IN THE UK, THE CONTENT OF THIS DOCUMENT HAS NOT BEEN APPROVED BY AN AUTHORISED PERSON AS A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FSMA).

ALL TRADEMARKS, SERVICE MARKS AND LOGOS USED IN THIS MATERIAL ARE TRADEMARKS OR SERVICE MARKS OR REGISTERED TRADEMARKS OR REGISTERED SERVICE MARKS OF CITADEL LLC