TFC is registered as a municipal advisor with the U.S. Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB). The website of the MSRB is www.msrb.org where you may obtain the MSRB’s municipal advisory client brochure that describes the protections that may be provided by MSRB rules and how to file a complaint with an appropriate regulatory authority.

TFC is not aware of any conflicts of interest that it or any of its associated persons may have with any existing or potential municipal entity clients, except for its industry-standard contingent fees, the timing and amount of which are subject to the closing and size of a financing.

In accordance with its fiduciary duty to its clients, TFC covenants to always place the financial interests of its clients ahead of its own notwithstanding any contingent fee arrangement.