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STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK
<br />IfYou Purchased Municipal Derivative Transactions
<br />from January 1, 1992, to August 18, 2011
<br />You Could Get a Payment from a Class Action Settlement with
<br />UBS AG, Societe Generale S.A., Natixis Funding Corp., Piper Jaffray & Co.,
<br />National Westminster Bank Plc, and George K. Baum & Co.
<br />AFederal Court authorized this notice. It is not a sohotation from a lawyer.
<br />A class action lawsuit called In re Municipal Derivatives Antitrust Litigation is pending in the United States -District Court
<br />for the Southern District of New York. The lawsuit alleges price-fixing in the sale of municipal derivative transactions by
<br />UBS AG, Societe Generale S.A., Natixis Funding Corp., Piper Jaffray & Co., National Westminster Bank Plc, George
<br />K. Baum & Co., and other companies (which together are called the "Defendants"). Each Defendant has denied and
<br />continues to deny (1) each and all of the claims and allegations of wrongdoing made by Class Plaintiffs in the Action and
<br />maintains that it has meritorious defenses; (2) all charges of wrongdoing or liability against it arising out of any of the
<br />conduct, statements, acts, or omissions alleged, or that could have been alleged, in the Action, and contends that the factual
<br />allegations made in the Action relating to it are materially inaccurate; and (3) that Class Plaintiffs or any Class Member
<br />were harmed by any conduct of Defendant alleged in the Action or otherwise. Each Defendant agreed to enter into this
<br />Agreements solely to avoid further the expense, inconvenience, and the distraction of burdensome and protracted litigation.
<br />Proposed sl ttlements of that class action lawsuit ("Settlements") have been reached with UBS AG, Societe Generale
<br />S.A., Natixis Funding Corp., Piper Jaffray & Co., National Westminster Bank Plc, and George K. Baum & Co. ("Settling
<br />Defendants"), Defendants in the above litigation. To resolve the claims against them, the Settling Defendants have entered
<br />into separate Settlements, and have agreed to pay settlement amounts in the aggregate over $100 million (the "Settlement
<br />Amounts") as detailed within this notice, subject to the terms and conditions of the Settlement Agreements for the benefit
<br />of the Class (defined below), and, in some instances, to provide reasonable cooperation, including discovery cooperation,
<br />to Class Plaintiffs' Counsel for the benefit of the Class. Co -Lead Counsel, jointly with Certain State Attorneys General,
<br />reached the settlements with Societe Generale SA and Natixis Funding Corporation that are addressed within this Notice.
<br />The Settlement must be approved by the Court to become final. The Court will hold a hearing on July 8, 2016, at 2:00 p.m.
<br />to consider whether the Settlements should be approved as fair, reasonable, and adequate to the Class ("Fairness Hearing").
<br />YOUR
<br />OPTIONS FORTHE
<br />This is the only way to be eligible to get a payment from the
<br />STAY I;`PIE°CIA�S=::= -
<br />Settlement Amount from the settlements with Defendants.
<br />No action required
<br />-- _
<br />This payment will be made at a later time.
<br />You will ~4 -
<br />{'..;.` ° get no payment from the Settlement Amount.
<br />Excluding yourself from the Class is the only way to keep
<br />1yRO1tI�'T;CL1S ''
<br />the right to sue Defendants, at your own expense, or be part
<br />May 17, 2016
<br />of any other lawsuit against Defendants, for the same legal
<br />claims alleged in this lawsuit. See Question 16.
<br />"_'''' Take no position on the Settlements. You are automatically
<br />DO N, 1V
<br /><aN0'I II ?.
<br />ti:C1<.AIIr`OR1s!I= "`'
<br />a member of the Class if you fit within the definition of the
<br />='
<br />Class. See Question 8. You will claim form to
<br />need to file a
<br />July 28, 2016 (claim deadline)
<br />receive anpayment. See Questi n 13.
<br />0
<br />QOBJiEC' '; - '
<br />= `
<br />Write to the Court about whyyou don't like the Settlements.
<br />y
<br />.; .,_ .
<br />..a See Question 22.
<br />June 20, 2016
<br />°Y Tr
<br />Ask to speak to the Court, on your own or through a lawyer
<br />g �
<br />at and 26.
<br />your expense. See Questions 22
<br />July 8, 2016 at 2:00 .m.
<br />' P
<br />PLEASE READ THIS ENTIRE NOTICE CAREFULLY.
<br />IT EXPLAINS YOUR RIGHTS AND OPTIONS REGARDING THE SETTLEMENT
<br />AND STATES THE DEADLINES FOR EXERCISING THEM 62
<br />-i-
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