Risk EvaluationBetaWhat is beta and how is it used in analyzing risk? What does beta tell us about return? What is the beta of your fund and what does it mean. Examples are always good to aid understanding.R2What is it and how is it used in analyzing risk. What is the statistic for your fund and what does it mean about beta? Examples are always good to aid understanding.Return EvaluationAlphaWhat is it and how is it used in analyzing investment return performance. How is it related to beta? What does it say about the fund manager?Manager TenureWhat is it and why do investors care? How is manager tenure related to % Rank within Morningstar Category?% Rank within Morningstar Category

Overall Morningstar Rating PGIM Core Bond A (USD) D Standard Index er USA Dard TR USD CategoryIndex US Band TR USD Morningstar Cat fundam Card Morningstar Guantitative Ratings Neutral 12-31 2010 HE Us Fundinamed Core Bond we Free Performance 2018 0 1 0 0 3 6 108025 0.07 11908 316 301 2.75 00082 - PIMCA 5.60 dardi Teada M St12312019 Totaltum Sundes Cat Index Rond Cat Naina h op 528 275 2.24 520 224 82 3.86 281 30 291 010 0.14 ON 054 0.10 0.14 0 054 - 31 40 52 73 430 382 327 251 Performance History 1 0 Toms 7-day Ya 019.20 30-day SEC Yield 131-19 240 2021 854 7160 6.89 1.30 587 812 550 201 43 4 - 90 3.7 3. 81019 311 338.00 121 046 022 01 0.10 :21 046 02 010 29 59 ] - 966 1019 of Category hoes Prank of Funds net Patience The Doar M der urador al te vervand 10-pour The d ets pour e nd The trend pa t harnestor a whole when we raga que to the for C c ed oor 28 Partiale Analysis 12.01.2019 Asset Allocations Long Shorts Shoe Hold 52 CEAOTS US Socks 000 000 000 Non-US Sicky 000 000 000 13 mil Tedar National Manage Associat 91.35 270514 11 mil FHLMC Pc Prepay Prm 303.53% Othat isto 103 10 000 e 9 mil Federal National Mortgages 7 il faderal National Morage Associat 100.00 100.57028 7 mil BANK 2014 NC20 2.769 Liste Pale Stat Por PARK AVENUE FUNDING TRUST 06 PE Ratio TM Emil Song Mortgage Trust 46% PC RIM Emil Tederal National Mortgage As PRoTM 5 mil Call Commercial Mortgage Trust 3 Geo w M ap 5 mil Allegro ClaXLid / Allegro Clax Sml Trinitas Clav Limited 3 11% Fuad-Income Style 5 ml Federal National Mortgage Associat Avg El M its 5 mil FHMC Pc Prepay Pm 3036% Ap EH Durati Avg Wid Coupon 4 mil OS Mortgage Securities Trust 2015 Avg Wid Price 10371 0 4 mil CITIGROUP COMMERCIAL MORTGAGE TUS Fees and Expenses Sales Charges Front-End Load % Deferred Load 050 10 050 Fund Esperses Management Fees 1261 Expenses Gross Expense Ratio Risk and Relum Profile 292 5 040 Morningstar Rating 3019 Avg Avg Aro Ang Credit Dusty Breakdowe 1 AAA Sector Weightings Cyclical Basic Materials Consumerical Financial Services Avg Avg Y 308 291 0.57 Nomiar Ratum Standard Deviation Meal Estate 2.90 39 0.75 294 120 1 BEB 760 1453 13. 007 0.00 0.00 23 Sharpe Ratio MPT SE Sunderne Alpha Beta A-Squared 12 Month Yield Postal C Cains Exp Sensitive Communication Services Energy Industrials Technology - Deleasive - Consumer Defense Healthcare Utilities Bester Below BBB USO NA 0.14 Real Exposure 100 cus 31.02 Greater Europe 2.73% Greater Asia 0.14 1.00 9902 Ticker Purchase Constraints Incap 02-11-2015 Family Manager Tour PGIM Fonds Prudential Multiple 50 Years Corporate Bond General TPCAX USA754217893 $1.000 $50 $1,000 Minimuminibal Purchase Min Auno strant Plan Minimum RA Purchase $9500 ml Total Assets Base Currency USO Overall Morningstar Rating PGIM Core Bond A (USD) D Standard Index er USA Dard TR USD CategoryIndex US Band TR USD Morningstar Cat fundam Card Morningstar Guantitative Ratings Neutral 12-31 2010 HE Us Fundinamed Core Bond we Free Performance 2018 0 1 0 0 3 6 108025 0.07 11908 316 301 2.75 00082 - PIMCA 5.60 dardi Teada M St12312019 Totaltum Sundes Cat Index Rond Cat Naina h op 528 275 2.24 520 224 82 3.86 281 30 291 010 0.14 ON 054 0.10 0.14 0 054 - 31 40 52 73 430 382 327 251 Performance History 1 0 Toms 7-day Ya 019.20 30-day SEC Yield 131-19 240 2021 854 7160 6.89 1.30 587 812 550 201 43 4 - 90 3.7 3. 81019 311 338.00 121 046 022 01 0.10 :21 046 02 010 29 59 ] - 966 1019 of Category hoes Prank of Funds net Patience The Doar M der urador al te vervand 10-pour The d ets pour e nd The trend pa t harnestor a whole when we raga que to the for C c ed oor 28 Partiale Analysis 12.01.2019 Asset Allocations Long Shorts Shoe Hold 52 CEAOTS US Socks 000 000 000 Non-US Sicky 000 000 000 13 mil Tedar National Manage Associat 91.35 270514 11 mil FHLMC Pc Prepay Prm 303.53% Othat isto 103 10 000 e 9 mil Federal National Mortgages 7 il faderal National Morage Associat 100.00 100.57028 7 mil BANK 2014 NC20 2.769 Liste Pale Stat Por PARK AVENUE FUNDING TRUST 06 PE Ratio TM Emil Song Mortgage Trust 46% PC RIM Emil Tederal National Mortgage As PRoTM 5 mil Call Commercial Mortgage Trust 3 Geo w M ap 5 mil Allegro ClaXLid / Allegro Clax Sml Trinitas Clav Limited 3 11% Fuad-Income Style 5 ml Federal National Mortgage Associat Avg El M its 5 mil FHMC Pc Prepay Pm 3036% Ap EH Durati Avg Wid Coupon 4 mil OS Mortgage Securities Trust 2015 Avg Wid Price 10371 0 4 mil CITIGROUP COMMERCIAL MORTGAGE TUS Fees and Expenses Sales Charges Front-End Load % Deferred Load 050 10 050 Fund Esperses Management Fees 1261 Expenses Gross Expense Ratio Risk and Relum Profile 292 5 040 Morningstar Rating 3019 Avg Avg Aro Ang Credit Dusty Breakdowe 1 AAA Sector Weightings Cyclical Basic Materials Consumerical Financial Services Avg Avg Y 308 291 0.57 Nomiar Ratum Standard Deviation Meal Estate 2.90 39 0.75 294 120 1 BEB 760 1453 13. 007 0.00 0.00 23 Sharpe Ratio MPT SE Sunderne Alpha Beta A-Squared 12 Month Yield Postal C Cains Exp Sensitive Communication Services Energy Industrials Technology - Deleasive - Consumer Defense Healthcare Utilities Bester Below BBB USO NA 0.14 Real Exposure 100 cus 31.02 Greater Europe 2.73% Greater Asia 0.14 1.00 9902 Ticker Purchase Constraints Incap 02-11-2015 Family Manager Tour PGIM Fonds Prudential Multiple 50 Years Corporate Bond General TPCAX USA754217893 $1.000 $50 $1,000 Minimuminibal Purchase Min Auno strant Plan Minimum RA Purchase $9500 ml Total Assets Base Currency USO