Appendix B


Copyright ©2023 Santander US Capital Markets LLC and its affiliates (“SCM”).    All rights reserved. SCM is a member of FINRA and SIPC.  This material is intended for limited distribution to the recipient and is not publicly available.  Any unauthorized use or disclosure is prohibited.

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In connection with recipient’s decision to enter into any transaction, or to purchase or sell securities or other financial instruments, the recipient is advised to undertake an independent review of this material, and the potential legal, tax, regulatory and accounting implications of any transaction described herein to determine whether such a structure would be suitable for such recipient’s particular situations. SCM is not providing any investment, legal, accounting, tax, financial or other advice to the recipient, nor is it acting as an advisor or fiduciary in respect of the recipient. This presentation is not intended to form the basis of an investment decision and contains insufficient information to make an investment decision.  SCM accepts no responsibility or liability as to any reliance placed, or investment decision made, on the basis of such information by the recipient.  Any illustrations contained herein are provided as examples only.

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This material (i) has been prepared for information purposes only and does not constitute a solicitation or an offer to buy or sell any securities, related investments or other financial instruments, (ii) is neither research, a “research report” as commonly understood under the securities laws and regulations promulgated thereunder nor the product of a research department, (iii) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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