This material including, without limitation, to the statistical information herein along with the analytical insights and anticipated impacts contained, is provided for informational purposes only. The material is based in part on information from third-party sources that we believe to be reliable but which have not been independently verified by us, and for this reason, we do not represent that the information is accurate or complete. The information should not be viewed as tax, investment, legal or other advice, nor is it to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision. Nothing relating to the material should be construed as a solicitation, offer or recommendation to acquire or dispose of any investment or to engage in any other transaction.

All non-SVB-named companies listed throughout this document, as represented with the various thoughts, analysis and insights shared in this document, are independent third parties and are not affiliated with SVB Financial Group.

Silicon Valley Bank is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK, under No. FC029579. Silicon Valley Bank is authorized and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorized by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.

Silicon Valley Bank, a public corporation with limited liability (Aktiengesellschaft) under the laws of the US federal state of California, with registered office in Santa Clara, California, USA is registered with the California Secretary of State under No. C1175907, Chief Executive Officer (Vorstand): Gregory W. Becker, Chairman of the Board of Directors (Aufsichtsratsvorsitzender): Roger F. Dunbar.

Silicon Valley Bank Germany Branch is a branch of Silicon Valley Bank. Silicon Valley Bank Germany Branch with registered office in Frankfurt am Main is registered with the local court of Frankfurt am Main under No. HRB 112038, Branch Directors (Geschäftsleiter): Oscar C. Jazdowski, John K. Peck. Competent Supervisory Authority: Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Graurheindorfer Straße 108, 53117 Bonn, Germany.

Silicon Valley Bank, is an authorized foreign bank branch under the Bank Act (Canada).