Disclosure of Conflicts of Interest and Legal or Disciplinary Events

Pursuant to Municipal Securities Rulemaking Board (“MSRB”) Rule G-42, on Duties of Non-Solicitor Municipal Advisors, Municipal Advisors are required to make certain written disclosures to clients which include, among other things, Conflicts of Interest and any Legal or Disciplinary events of JNA Consulting Group, LLC and its associated persons. JNA's MSRB ID is K0273.

Conflicts of Interest

JNA Consulting Group, LLC represents that in connection with the issuance of municipal securities, JNA Consulting Group, LLC may receive compensation from an Issuer or Obligated Person for services rendered, which compensation is contingent upon the successful closing of a transaction and/or is based on the size of a transaction. Consistent with the requirements of MSRB Rule G-42, JNA Consulting Group, LLC hereby discloses that such contingent and/or transactional compensation may present a potential conflict of interest regarding JNA Consulting Group, LLC’s ability to provide unbiased advice to enter into such transaction. This conflict of interest will not impair JNA Consulting Group, LLC’s ability to render unbiased and competent advice or to fulfill its fiduciary duty to the Issuer.

If JNA Consulting Group, LLC becomes aware of any additional potential or actual conflict of interest after this disclosure, JNA Consulting Group, LLC will disclose the detailed information in writing to the Issuer in a timely manner.

Legal or Disciplinary Events

JNA Consulting Group, LLC does not have any legal events or disciplinary history on JNA Consulting Group, LLC’s Form MA and Form MA-I, which includes information about any criminal actions, regulatory actions, investigations, terminations, judgments, liens, civil judicial actions, customer complaints, arbitrations, and civil litigation. The Issuer may electronically access JNA Consulting Group, LLC’s most recent Form MA and each most recent Form MA-I filed with the Securities and Exchange Commission (SEC) at the following website: www.sec.gov/edgar/searchedgar/companysearch.html. JNA's SEC ID is 867-00260.

There have been no material changes to a legal or disciplinary event disclosure on any Form MA or Form MA-I filed with the SEC. If any material legal or regulatory action is brought against JNA Consulting Group, LLC, JNA Consulting Group, LLC will provide complete disclosure to the Issuer in detail, allowing the Issuer to evaluate JNA Consulting Group, LLC, its management and personnel.