As one of the world’s largest active fixed income investment managers, we aim to play a crucial role in financing a sustainable future, and we take that responsibility very seriously. Transitioning the global economy to a net-zero emissions future will require trillions of dollars of investment. We believe that the global bond market, almost double the size of the equity market, and its investors will be essential in meeting such an ambitious goal. The COVID-19 pandemic has elevated the importance of sustainable investing and corporate sustainability, and we firmly believe that healthy societies and healthy markets go hand-in-hand. People, communities, and economies will not be able to thrive if the world does not address threats such as environmental devastation, health scourges, and social inequities and imbalances. This makes working toward the Sustainable Development Goals (SDGs), and a sustainable future, more important than ever. At PIMCO, we remain a proud signatory of the UN Global Compact and its ten principles, focusing on human rights, labor standards, the environment, and anti-corruption. Embedding these principles into PIMCO’s strategy is essential to our high-performance culture – enabling us to deliver the best results for our clients, communities, and colleagues worldwide. By leveraging our existing and long-standing relationships with bond issuers around the globe, we aim to find new opportunities for our clients, influence positive changes via active engagement, and support the sustainable bond markets’ growth to benefit all stakeholders. Download the full PIMCO 2020 Corporate Responsibility report here. Disclosures London PIMCO Europe Ltd 11 Baker Street London W1U 3AH, England +44 (0) 20 3640 1000 Dublin PIMCO Europe GmbH Irish Branch, PIMCO Global Advisors (Ireland) Limited 3rd Floor, Harcourt Building 57B Harcourt Street Dublin D02 F721, Ireland +353 (0) 1592 2000 Munich PIMCO Europe GmbH Seidlstraße 24-24a 80335 Munich, Germany +49 (0) 89 26209 6000 Milan PIMCO Europe GmbH - Italy Corso Matteotti 8 20121 Milan, Italy +39 02 9475 5400 Zurich PIMCO (Schweiz) GmbH Brandschenkestrasse 41 8002 Zurich, Switzerland Tel: + 41 44 512 49 10 PIMCO Europe Ltd (Company No. 2604517) is authorised and regulated by the Financial Conduct Authority (12 Endeavour Square, London E20 1JN) in the UK. The services provided by PIMCO Europe Ltd are not available to retail investors, who should not rely on this communication but contact their financial adviser. PIMCO Europe GmbH (Company No. 192083, Seidlstr. 24-24a, 80335 Munich, Germany), PIMCO Europe GmbH Italian Branch (Company No. 10005170963), PIMCO Europe GmbH Irish Branch (Company No. 909462), PIMCO Europe GmbH UK Branch (Company No. BR022803) and PIMCO Europe GmbH Spanish Branch (N.I.F. W2765338E) are authorised and regulated by the German Federal Financial Supervisory Authority (BaFin) (Marie- Curie-Str. 24-28, 60439 Frankfurt am Main) in Germany in accordance with Section 32 of the German Banking Act (KWG). The Italian Branch, Irish Branch, UK Branch and Spanish Branch are additionally supervised by: (1) Italian Branch: the Commissione Nazionale per le Società e la Borsa (CONSOB) in accordance with Article 27 of the Italian Consolidated Financial Act; (2) Irish Branch: the Central Bank of Ireland in accordance with Regulation 43 of the European Union (Markets in Financial Instruments) Regulations 2017, as amended; (3) UK Branch: the Financial Conduct Authority; and (4) Spanish Branch: the Comisión Nacional del Mercado de Valores (CNMV) in accordance with obligations stipulated in articles 168 and 203 to 224, as well as obligations contained in Tile V, Section I of the Law on the Securities Market (LSM) and in articles 111, 114 and 117 of Royal Decree 217/2008, respectively. The services provided by PIMCO Europe GmbH are available only to professional clients as defined in Section 67 para. 2 German Securities Trading Act (WpHG). They are not available to individual investors, who should not rely on this communication.| PIMCO (Schweiz) GmbH (registered in Switzerland, Company No. CH-020.4.038.582-2) . The services provided by PIMCO (Schweiz) GmbH are not available to retail investors, who should not rely on this communication but contact their financial adviser. All investments contain risk and may lose value. PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. Individual investors should contact their own financial professional to determine the most appropriate investment options for their financial situation. This material contains the opinions of the manager and such opinions are subject to change without notice. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. PIMCO is a trademark of Allianz Asset Management of America L.P. in the United States and throughout the world. ©2021, PIMCO.