This material has been prepared by BNY Mellon, which is ...

This material has been prepared by BNY Mellon, which is not affiliated with Prudential Retirement. Prudential Retirement serves as recordkeeper for your plan, but does not make any representations as to the accuracy or completeness of the information contained in the fact sheet. This information is provided for informational purposes only and should not be considered a recommendation to buy or sell any security. Any performance data quoted represents past performance, and past performance does not guarantee future results. In general, the investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For additional information, please call Prudential Retirement 1-877-778-2100.

We include here a current fact sheet for one of the funds in the BNYM EB Target Maturity target date suite. The performance results depicted do not include BNYM's investment management fees, equal to .085% annually. Actual performance experienced by the investor would have been lower, due to the application of such management fees.

AS OF JUNE 30, 2019

BNYM Mellon SL SmartPath Target Date 2030 Fund

(formerly BNY Mellon Capital SmartPath Target Date 2030 Fund) Class I CUSIP 58550A869

TARGET DATE GLIDE PATH

INVESTMENT CATEGORY Target Date 2026-2030

INVESTMENT OBJECTIVE, STRATEGY AND RISKS

The Fund's investment objective is to seek to provide investors with a mix of assets based on a typical underlying plan participant with a projected retirement date approximately within five years of 2030. In meeting this objective, the Fund will invest in a proprietary blend of global investment products and will seek to generate capital appreciation and wealth preservation through a variety of market cycles. The assets of the Fund may be invested in securities and a combination of other collective funds to create a mix of equity, fixed income, and real estate indexes. The Fund may also invest in the EB Temporary Investment Fund. For additional information on the Fund's investment objective, strategy and its principal risks, please see the supplemental information about the Fund on the following pages.

AVERAGE ANNUAL TOTAL RETURNS (%) FOR QUARTER ENDED 06/30/19

INDEX S&P Target Date? 2030 Index

FUND EQUITY CHARACTERISTICS AS OF 06/30/19

Average Market Cap ($B)

132.51

Price/Earnings Ratio

17.94

Price/Book Ratio

1.61

TOP EQUITY SECTORS (%) AS OF 06/30/19

3 months YTD

1 year

3 years 5 years

Fund

3.45

13.24

6.21

9.15

6.13

Custom benchmark

3.49

13.39

6.30

9.15

6.12

Index

3.10

12.78

5.56

8.82

5.90

AVERAGE ANNUAL TOTAL RETURNS (%) FOR CALENDAR YEAR ENDED 12/31/18

1 year

Fund

-5.89

Custom Benchmark

-5.96

Index

-5.99

FULL CALENDAR YEAR RETURNS (%)

3 years 5.91 5.84 5.77

5 years 4.67 4.63 4.50

10 years -

10 years -

Since Inception 7.83 7.82 7.59

Since Inception 6.65 6.63 6.46

TOP HOLDINGS (%) AS OF 06/30/19

Company

% Portfolio

BNYM Mellon SL Stock Index Fund

29.93

BNYM Mellon SL Aggregate Bond Index Fund 25.94

BNYM Mellon SL ACWI ex-U.S. IMI Fund

21.61

BNYM Mellon SL Mid Cap Stock Index Fund

8.10

BNYM Mellon SL 1-3 Year Govt/Credit Bond

Index Fund

4.96

BNYM Mellon SL Intermediate Credit Bond

Index Fund

2.97

BNYM Mellon SL Small Cap Stock Index Fund 2.53

BNYM Mellon SL TIPS Index Fund

1.98

BNYM Mellon SL REIT Index Fund

1.98

The securities listed are not a recommendation to buy or sell. Portfolio

composition is subject to change at any time.

Inception 1/31/2011 Performance results for less than one year are not annualized. See the "Index" section on the following pages has additional information on the Index and Custom Benchmark.

TURNOVER

Fund's portfolio turnover rate (as of December 31, 2018 fiscal year-end)

6.61%

Past results are not necessarily indicative of future performance and are no guarantee that losses

will not occur in the future. Future returns are not guaranteed and a loss of principal may occur. A

Fund's total return presented in this Fact Sheet reflects net performance (after fees and

expenses) of the particular Class units and assumes reinvestment of dividends and capital gains,

but does not reflect any fees that may be borne externally by Fund participants. Such external fees

would reduce the performance quoted. See the "Fees and Expenses" section on the following

pages for additional information.

MANAGEMENT

The Bank of New York Mellon ("BNY Mellon"), a New York state chartered banking institution, is the discretionary trustee for its bank-maintained collective investment funds which include the Fund. The Bank is responsible for the management of the Fund, including the custody of Fund assets. Employees of Mellon Investments Corporation ("Mellon") manage the assets of the Fund in their capacity as dual officers of BNY Mellon. BNY Mellon and Mellon are subsidiaries of The Bank of New York Mellon Corporation.

NOT FDIC INSURED NOT GUARANTEED MAY LOSE VALUE

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BNYM Mellon SL SmartPath Target Date 2030 Fund - Class I

EXPENSE INFORMATION

Fees and expenses are only one of several factors to consider when making investment decisions. Following are the expenses you would incur as an investor in the Fund. While the expenses are generally based on the fund's last fiscal year-end, they may be adjusted for material changes in expenses during the current fiscal period. The expenses are provided as a percentage of the average net asset value of the Fund, and as a dollar amount of expenses assuming a one-year investment of $1,000 with no change in the Fund's performance. Your actual costs and returns will vary. See the "Fees and Expenses" section for additional information.

TOTAL ANNUAL FUND OPERATING EXPENSES

Before fee waivers and/or expense reimbursement

0.04%

Before fee waivers and/or expense reimbursement

$0.40

After fee waivers and/or expense reimbursement

0.02%

After fee waivers and/or expense reimbursement

$0.20

The expense ratio and performance include internally charged and accrued fees and expenses of the Fund. They do not include external management fees that the Fund charges to the Plan. In addition, the Fund's expense ratio and performance do not reflect any external fees and expenses that may be borne by the Plan that would otherwise reduce the Plan participant's investment in the Fund (e.g., externally negotiated fees, custodial expenses, legal expenses, accounting expenses, transfer agent expenses, recordkeeping fees, administrative fees, separate account expenses, etc.). It is the Plan's obligation under Rule 404a-5 to incorporate the impact of those fees and expenses and report the results to Plan participants.

Please note that this presentation does not comply with all of the disclosure requirements for an ERISA "section 404(c) plan," as described in the Department of Labor regulations under section 404(c), nor does it contain all of the disclosure required by Rule 404a-5. Plan sponsors intending to comply with those regulations will need to provide the Plan participants with additional information. The information provided in this Fact Sheet is provided for general information only and should not be construed as investment advice or a recommendation. Participants should consult their financial adviser to determine their investment risk and tolerance, and evaluate if the Fund is suitable for their retirement needs.

THE FUND, ITS OBJECTIVE, ITS PRINCIPAL INVESTMENT STRATEGY

AND PRINCIPAL RISKS

The Fund is a bank collective investment trust fund for which BNY Mellon is the manager and trustee, and for which Mellon manages the assets of the collective investment funds in their capacity as dual officers of BNY Mellon. BNY Mellon is a wholly owned subsidiary of The Bank of New York Mellon Corporation.

The objective of the Fund is to seek to provide investors with a mix of assets based on a typical underlying plan participant with a projected retirement date approximately within five years of 2030. In meeting this objective, the Fund will invest in a proprietary blend of global investment products and will seek to generate capital appreciation and wealth preservation through a variety of market cycles. The assets of the Fund may be invested in securities and a combination of other affiliated bank collective funds to create a mix of equity, fixed income, and real estate indexes. The Fund may also invest in the EB Temporary Investment Fund. To the extent a portion of the Fund is invested in another affiliated bank collective fund, the terms of that affiliated bank collective fund will be incorporated by reference.

Generally, the Fund will invest in other collective investment funds maintained by BNY Mellon to create a mix of equity, fixed income, and real estate indices with defined investment strategies that can be grouped under the following types of asset categories:

Stocks: U.S. Large Cap Stocks, U.S. Mid Cap Stocks, U.S. Small Cap Stocks, International Stocks

Real Estate: U.S. Real Estate Investment Trusts

Bonds: U.S. Intermediate Duration Bonds, U.S. Treasury Inflation Protected Securities, Short-Term Fixed Income Securities

Each of the underlying collective investment funds are passively-managed, index funds. Alternatively, the Fund may directly invest in securities and other types of pooled investment vehicles (such as mutual funds and exchange-traded funds). The international component may include emerging market securities, which present higher levels of investment risks than US or developed international markets. In addition, the Funds or the underlying collective investment funds may seek to increase their returns, manage liquidity or hedge against market declines by investing in derivatives, and engaging in various other investment strategies, all of which increase and magnify potential loss.

Fixed income exposure may also be obtained through direct purchases of dollar and non-dollar denominated fixed income securities. Equity exposure may be obtained through direct purchases of foreign and domestic stocks, American Depository Receipts, Global Depository Receipts, and private placements (including equity and debt offerings under Rule 144A). The Fund may reallocate the overall asset allocation on an annual basis.

The international component of the Fund's assets may allocate a percentage to emerging markets securities. Investment in the Fund may present special risks associated with emerging markets countries, including (i) greater market volatility, (ii) lower trading volume and liquidity, (iii) greater social, political and economic uncertainty, (iv) governmental controls on foreign investments and limitations on repatriation of invested capital, (v) lower disclosure, corporate governance, auditing and financial reporting standards, (vi) fewer protections of property rights, (vii) restrictions on the transfer of securities or currency, and (viii) settlement and trading practices that differ from U.S. markets. A long-term perspective is important when investing in the Fund.

Long and short positions in financial futures, options on financial futures, swaps, mutual funds, exchange-traded funds, exchangetraded options, over-the-counter options, and over-the-counter foreign currency forward contracts, tracking participation certificates, participation notes, warrants, and any other instruments may also be used from time to time to obtain exposure, to provide liquidity for cash flows, to hedge dividend accruals or for other purposes that facilitate meeting the Fund's objective. If exchange-traded funds/mutual funds are purchased or sold, there will be additional expenses embedded in those funds and imposed on the Fund which may negatively impact the Fund's performance. Cash investments may be comprised of other affiliated bank collective funds and short to medium-term debt of investment grade that may include, without limitation, Treasury bills and notes, corporate obligations, commercial paper (including paper issued or resold under Section 3(a)(3), Section 4(2) and Rule 144A of the Securities Act of 1933), repurchase agreements, and obligations of government sponsored enterprises. The Fund may utilize short selling and allows for extended settlement under certain circumstances.

The Fund will be diversified, will not concentrate in securities of issuers of a particular industry or group of industries, and may participate in securities lending.

Depending on the Fund's investment allocations, the Fund is exposed to varying degrees of the following principal investment risks, each of which may adversely affect the Fund's unit value, its performance and the ability to achieve its investment objective:

Allocation risk. The asset classes in which the strategy seeks investment exposure can perform differently from each other at any given time (as well as over the long term), so the strategy will be affected by its allocation among the various asset classes. If the strategy favors exposure to an asset class during a period when that class underperforms, performance may be hurt.

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BNYM Mellon SL SmartPath Target Date 2030 Fund - Class I

Country, industry and market sector risk. The strategy may be overweighted or underweighted, relative to the benchmark, in companies in certain countries, industries or market sectors, which may cause the strategy's performance to be more or less sensitive to positive or negative developments affecting these countries, industries or sectors. In addition, the strategy may, from time to time, invest a significant portion (more than 25%) of its total assets in securities of companies located in particular countries, such as the United Kingdom and Japan, depending on such country's representation within the benchmark.

Credit risk. Failure of an issuer to make timely interest or principal payments, or a decline or perception of a decline in the credit quality of a bond can cause a bond's price to fall.

ETF and other investment company risk. The main risk of investing in other investment companies, including ETFs, is the risk that the value of the securities underlying an investment company might decrease. Because the Fund may invest in other investment companies, you will pay a proportionate share of the expenses of those other investment companies (including management fees) in addition to the expenses of the Fund. ETFs are exchange-traded investment companies that are, in many cases, designed to provide investment results corresponding to an index. The value of the underlying securities can fluctuate in response to activities of individual companies or in response to general market and/or economic conditions. Additional risks of investments in ETFs include: (i) the market price of an ETF's shares may trade at a discount to its net asset value; (ii) an active trading market for an ETF's shares may not develop or be maintained; or (iii) trading may be halted if the listing exchanges' officials deem such action appropriate, the shares are delisted from the exchange, or the activation of marketwide "circuit breakers" (which are tied to large decreases in stock prices) halts trading generally. The Fund will incur brokerage costs when purchasing and selling shares of ETFs.

ETF risk. ETFs typically trade on a securities exchange and their shares may, at times, trade at a premium or discount to their net asset values. In addition, an ETF may not replicate exactly the performance of the benchmark index it seeks to track for a number of reasons, including transaction costs incurred by the ETF, the temporary unavailability of certain index securities in the secondary market or discrepancies between the ETF and the index with respect to the weighting or number of instruments held by the ETF. Investing in ETFs, which are investment companies, may involve duplication of advisory fees and certain other expenses.

Foreign currency risk. Investments in foreign currencies are subject to the risk that those currencies will decline in value relative to the U.S. dollar, or in the case of hedged positions, that the U.S. dollar will decline relative to the currency being hedged. Currency exchange rates may fluctuate significantly over short periods of time. A decline in the value of foreign currencies relative to the U.S. dollar will reduce the value of securities held by the strategy and denominated in those currencies. Foreign currencies are also subject to risks caused by inflation, interest rates, budget deficits and low savings rates, political factors and government controls.

Foreign investment risk. Special risks associated with investments in foreign companies include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political or economic instability, seizure or nationalization of assets, imposition of taxes or repatriation restrictions and differing auditing and legal standards. Investment in markets outside the U.S. typically also involves higher brokerage and custodial expenses than do investments in U.S. markets and may include local fees and taxes. The securities of issuers located in emerging markets can be more volatile and less liquid than those of issuers in more mature economies.

Government securities risk. Not all obligations of the U.S. government's agencies and instrumentalities are backed by the full faith and credit of the U.S. Treasury. Some obligations are backed only by the credit of the issuing agency or instrumentality, and in some cases there may be some risk of default by the issuer. Any guarantee by

the U.S. government or its agencies or instrumentalities of a security held by the strategy does not apply to the market value of such security. A security backed by the U.S. Treasury or the full faith and credit of the United States is guaranteed only as to the timely payment of interest and principal when held to maturity. In addition, because many types of U.S. government securities trade actively outside the United States, their prices may rise and fall as changes in global economic conditions affect the demand for these securities.

Growth and value stock risk. By investing in a mix of growth and value companies, the strategy assumes the risks of both. Investors often expect growth companies to increase their earnings at a certain rate. If these expectations are not met, investors can punish the stocks inordinately, even if earnings do increase. In addition, growth stocks typically lack the dividend yield that can cushion stock prices in market downturns. Value stocks involve the risk that they may never reach their expected full market value, either because the market fails to recognize the stock's intrinsic worth, or the expected value was misgauged. They also may decline in price even though in theory they are already undervalued.

Indexing strategy risk. The strategy uses an indexing strategy. It does not attempt to manage market volatility, use defensive strategies or reduce the effects of any long-term periods of poor index performance. The correlation between strategy and index performance may be affected by the strategy's expenses and use of sampling techniques, changes in securities markets, changes in the composition of the index and the timing of purchases and sales.

Interest rate risk. Prices of debt securities tend to move inversely with changes in interest rates. Typically, a rise in rates will adversely affect the prices of these securities and, accordingly, the value of your investment. The longer the effective maturity and duration of the strategy's portfolio, the more the value of your investment is likely to react to interest rates. Mortgage-related securities can have a different interest rate sensitivity than other bonds, however, because of prepayments and other factors, and may carry additional risks and be more volatile than other types of debt securities due to unexpected changes in interest rates.

Issuer risk. The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, financial leverage and reduced demand for the issuer's products or services.

Large cap stock risk. To the extent the strategy invests in large capitalization stocks, the strategy may underperform strategies that invest primarily in the stocks of lower quality, smaller capitalization companies during periods when the stocks of such companies are in favor.

Market risk. The market value of a security may decline due to general market conditions that are not specifically related to a particular company, such as real or perceived adverse economic conditions, changes in the outlook for corporate earnings, changes in interest or currency rates or adverse investor sentiment generally. A security's market value also may decline because of factors that affect a particular industry or industries, such as labor shortages or increased production costs and competitive conditions within an industry.

Midsize company risk. Midsize companies carry additional risks because the operating histories of these companies tend to be more limited, their earnings and revenues less predictable (and some companies may be experiencing significant losses), and their share prices more volatile than those of larger, more established companies.

Small and midsize company risk. Small and midsize companies carry additional risks because the operating histories of these companies tend to be more limited, their earnings and revenues less predictable (and some companies may be experiencing significant losses), and their share prices more volatile than those of larger, more established companies. The shares of smaller companies tend to trade less frequently than those of larger, more established companies, which can adversely affect the pricing of these securities and the strategy's ability to sell these securities. These companies may have limited product lines, markets or financial resources, or may depend on a

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BNYM Mellon SL SmartPath Target Date 2030 Fund - Class I

limited management group. Some of the strategy's investments will rise and fall based on investor perception rather than economic factors. Other investments are made in anticipation of future products, services or events whose delay or cancellation could cause the stock price to drop.

Stock investing risk. Stocks generally fluctuate more in value than bonds and may decline significantly over short time periods. There is the chance that stock prices overall will decline because stock markets tend to move in cycles, with periods of rising prices and falling prices. The market value of a stock may decline due to general market conditions that are not related to the particular company, such as real or perceived adverse economic conditions, changes in the outlook for corporate earnings, changes in interest or currency rates, or adverse investor sentiment generally. A security's market value also may decline because of factors that affect a particular industry, such as labor shortages or increased production costs and competitive conditions within an industry, or factors that affect a particular company, such as management performance, financial leverage, and reduced demand for the company's products or services.

Securities lending risk. The fund may lend its portfolio securities to brokers, dealers and other financial institutions. In connection with such loans, the fund will receive collateral from the borrower equal to at least 100% of the value of loaned securities. If the borrower of the securities fails financially, there could be delays in recovering the loaned securities or exercising rights to the collateral.

Additional Risks. As a bank-maintained collective investment fund, the Fund and its units are not registered under federal and state securities laws in reliance upon applicable exemptions. Because the Fund is not a mutual fund, it is governed by different regulations, restrictions and disclosure requirements. For example, the Fund is subject to banking and tax regulations which, among other things, limit participation to certain eligible qualified retirement plans (stock bonus, retirement, pension and profit sharing accounts) and government plans where BNY Mellon or an affiliate is a trustee, investment manager, custodian or directed agent.

As is the case with mutual funds, the Fund is not a deposit of, and is

not insured or guaranteed by, any bank, financial institution, the FDIC or any other government agency, and participants may lose money. Also, a Fund unit's principal value and investment return will

fluctuate, so that when a unit is redeemed, it may be worth more or less than the original investment.

FEES AND EXPENSES

The Fund has been established with three classes of units that will be charged such fees and expenses as are permitted by the Declaration of Trust, and are subject to change. Subject to acceptance of investments in a Fund, each plan sponsor must determine which class its plan will purchase based on the plan sponsor's evaluation of the fees charged, services provided to the plan, and the amount of any fee to be paid to the plan's services provider(s) for services rendered, which may reduce direct plan expenses. Participating plans may contact their service providers to determine whether the service provider receives such payments, and if so, the amount of such payment as it relates to the plan. BNY Mellon may in its discretion and with prior notice to the sponsors of affected plans from time to time add, delete, amend or otherwise modify a class of units of the Fund. Class I will be offered gross of fees and value of such units will not reflect asset based fee charges (other than those fees described above). Instead, any asset based fee charges (such as management fees) will be charged to the unit holder at a mutually agreed upon rate at the account level. In contrast, Instl. and R5 unit values will be charged an asset based fee of 0.09% and 0.19%, respectively, a portion of which may be used to offset plan expenses and may include related party expenses paid to The Bank of New York Mellon for investment management services, as described in the Participation Agreement between the plan's fiduciary and the Bank of New York Mellon. The plan's service provider may be

contacted for further details. The Fund's operational fee will not exceed 0.02% of the Fund's AUM in any given fiscal year of the Fund. The operational fee may be charged directly to the Fund along with external audit expenses. Such fees will be calculated in the unit value of the Fund.

Due to its strategy of investing in other collective investment funds, the Fund may incur certain additional expenses that would not be present with a direct investment in the underlying collective investment funds.

The Fund's administrative fee is comprised of related party and third party expenses which will not exceed 0.02% of the Fund's AUM in any given fiscal year of the Fund and may be charged directly to the Fund. Related party expenses may include annual custody, accounting, and transfer agent fees paid to The Bank of New York Mellon. Third party expenses may include audit, third party facilitation, vendor, and other similar expenses.

Fees and expenses are only one of several factors that participants and beneficiaries should consider when making investment decisions. The cumulative effect of fees and expenses can substantially reduce the growth of a participant's retirement account; participants can visit the Department of Labor's Employee Benefit Security Administration's Website @ebsa for an example demonstrating the longterm effect of fees and expenses.

PERFORMANCE

The Fund's performance data represents past performance and should not be considered indicative of how the Fund will perform in the future. You should not assume that future investment decisions will be profitable or will equal past investment performance. The Fund does not promise or guarantee that its performance will achieve a participant's objective or retirement needs. Fund portfolio statistics and asset allocations change over time. Performance results for less than one year are not annualized. Many factors affect performance including changes in market conditions and interest rates and changes in response to other economic, political, or financial developments.

INDEX

The Fund's performance is compared to both the closest representative S&P Target Date? Index Series and a customized benchmark as described below. An index does not incur management fees, costs, and expenses and cannot be invested in directly. An index is an unmanaged portfolio of specified securities. A Fund's portfolio may differ significantly from the securities in the index. The S&P Target Date? Index Series consists of 11 multi-asset class indices: the S&P Target Date Retirement Income Index and 10 indices, each of which corresponds to a specific target retirement date (ranging from 2010 through 2055+). The benchmark asset allocation and glide path represent a market consensus across the universe of target date fund managers. The Index Series is designed to represent a broadly derived consensus of asset class exposure for each target date year, as well as an overall glide path. Each index corresponds to a particular target retirement date, providing varying levels of exposure to asset classes, including U.S. large cap, U.S. mid cap, U.S. small cap, international equities, emerging market equities, U.S. and international real estate investment trusts (REITs), core fixed income, cash equivalents, Treasury Inflation Protected Securities (TIPS), high yield corporate bonds, and commodities. Exchange traded funds (ETFs) are used to track each asset class. The asset allocation for each index is based on market observations through an annual survey of target date fund managers. As the overall universe becomes more conservative with the approach of each target date year, so will the index. Each index is created and retired as determined by target date fund survey sample size. Additional information about the Index Series is available at .

Standard & Poor's and S&P are trademarks of Standard & Poor's Financial Services LLC ("S&P"), a part of McGraw Hill Financial. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). Trademarks have been licensed to S&P Dow Jones Indices LLC.

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BNYM Mellon SL SmartPath Target Date 2030 Fund - Class I

Any indices are trademarks used for comparative purposes only. None of the owners of the trademarks sponsor, endorse, sell or promote the Fund, or make any representation regarding the advisability of investing in the products or strategies described. Redistribution of this information may be prohibited by the terms of the license.

Custom Benchmark. Under Department of Labor regulations (Rule 404a-5), the Fund must compare its performance against a single, broad-based securities market index. However, since the Fund invests in multiple asset categories which are not represented by a single index, the Fund compares its performance against a Custom. Benchmark of the indices described below.

The custom benchmark for the Fund is currently a combination of the S&P 500? INDEX (weighted 32.5%), S&P MID CAP 400? INDEX (weighted 9%), RUSSELL 2000? INDEX (weighted 3.5%), MSCI ACWI? EX-US INDEX IMI (weighted 23.5%), DOW JONES U.S. SELECT REIT INDEX(SM) (weighted 1.5%), BARCLAYS CAPITAL U.S. AGGREGATE BOND INDEX (weighted 21%), BARCLAYS U.S. INTERMEDIATE CREDIT BOND (weighted 3%), BARCLAYS U.S. TIPS INDEX (weighted 1%), and the BARCLAYS U.S. 1-3 YR GOVT/CREDIT INDEX (weighted 5%). At least annually, the custom benchmark is adjusted to reflect the change in the glide path's allocation among various asset classes as well as a consensus process that evaluates peers and trends in the target date industry.

S&P 500? INDEX is an unmanaged index composed of 500 leading companies in leading industries of the U.S. economy. It is considered to be generally representative of the U.S. large capitalization stock market as a whole. S&P MID CAP 400? INDEX is an unmanaged index composed of 400 U.S. stocks chosen for market size, liquidity, and industry group representation. It is considered to be the most widely used index for mid-sized companies. RUSSELL 2000? INDEX is composed of the 2,000 smallest companies in the Russell 3000 Index. The RUSSELL 3000? INDEX is composed of the 3000 largest U.S. companies based on total market capitalization. DOW JONES U.S. SELECT REIT INDEX(SM) is a subset of the Dow Jones Americas Select RESI(SM) Index and includes only real estate investment trusts ("REITs") and REIT-like securities. The MSCI ALL COUNTRY WORLD INDEX ("ACWI?") EX-U.S. IMI STOCK INDEX is a capitalization-weighted benchmark composed of large and mid-sized companies in global developed and emerging market countries, excluding the United States. BARCLAYS U.S. AGGREGATE BOND INDEX is an unmanaged total return index of corporate, government and government-agency debt instruments, mortgage-backed securities and asset-backed securities with an average maturity of 1?10 years. BARCLAYS U.S. TREASURY INFLATION PROTECTED SECURITIES (TIPS) INDEX ("BARCLAYS U.S. TIPS INDEX") is an unmanaged market index comprised of all U.S. Treasury Inflation Protected Securities rated investment grade (Baa3 or better), having at least one year to final maturity, and at least $250 million par amount outstanding. BARCLAYS U.S. 1-3 YEAR GOVERNMENT/CREDIT INDEX ("BARCLAYS US 1-3 YR GOVT/CREDIT INDEX") is composed of investment-grade United States credit securities and government bonds that have a remaining maturity of greater than or equal to 1 year and less than 3 years, and have more than $250 million or more of outstanding face value.

"Standard & Poor's?", "S&P?", "S&P 500? Index", "Standard & Poor's 500?", and "S&P Mid Cap 400? Index" are trademarks of Standard & Poor's Financial Services LLC, and have been licensed for use by BNY Mellon (together with its affiliates and subsidiaries). The Products mentioned are not sponsored, endorsed, sold, or promoted by Standard & Poor's, and Standard & Poor's makes no representation regarding the advisability of investing in the Products.

"Dow Jones", are service marks of Dow Jones & Company, Inc. and has been licensed for use for certain purposes by Mellon Capital Management Corporation and BNY Mellon. These bank-maintained collective funds are not sponsored, endorsed, sold or promoted by Dow Jones and Dow Jones does not make any representation regarding the advisability of investing in such products.

Russell Investments is the owner of the trademarks and copyrights relating to the Russell 2000? Index and the Russell 3000? Index.

Any funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based.

RESTRICTIONS ON PURCHASES OR REDEMPTIONS

The Fund is intended to be a long-term investment vehicle rather than a means of speculating on short-term market movements that may be disruptive to the management of the Fund. Accordingly, BNY Mellon reserves the right to suspend the offering or redemption of Fund units or postpone payment dates for a period of time. In addition, the ability to purchase and redeem Fund units as well as the timing of such purchases, redemptions and payments on redemptions may be affected by early market closings or other market trading restrictions, or as otherwise permitted by an appropriate regulatory agency. For example, the Fund may suspend purchases, redemptions, or postpone payment dates when the NYSE or any relevant exchange is closed, when trading on the NYSE or any relevant exchange is closed, when trading on the NYSE or any relevant exchange is restricted, or as permitted by an appropriate regulatory agency. Further, the Fund reserves the right to suspend the offering of or redemption of units for a period of time, pay redemptions in cash and/or in-kind, reject any purchase order or postpone payment dates if in the Trustee's opinion such offering, redemption, purchase or payment would disrupt the management of the Fund or would be necessary or advisable to provide fair and equitable treatment to unitholders of the Fund.

ADDITIONAL DISCLOSURES

This presentation does not constitute an offer or solicitation to any person in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it would be unlawful to make such offer or solicitation. This material (or any portion thereof) may not be copied or distributed without prior written approval. Statements are current as of the date of the material only.

The information provided in this presentation should not be considered a recommendation to purchase or sell a particular security. Any specific securities identified do not represent all of the securities purchased, sold or recommended for advisory clients, and may be only a small percentage of the entire portfolio and may not remain in the portfolio at the time you receive this report. You should not assume that investment decisions we make in the future will be profitable or will equal the investment performance of the past.

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