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Distributor to Non-U.S. Investor Registration

The information contained in the following expanded part of the Permal website for distributors is directed solely to distributors who are outside the United Kingdom or authorized in the U.K. by the Financial Services Authority. Shares of the Permal funds are not being sold publicly in the United States or to U.S. Persons.

Registration for full access to the website can be obtained by employees of official distributors of the Permal Family of Funds.

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