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** Price indications from Jefferies LLC, Interactive Data Corporation, Trace, and/or the Bloomberg Professional Service, and do not constitute an offer or a solicitation of an offer to buy or sell.

This material has been prepared by Jefferies LLC ("Jefferies") a U.S.-registered broker-dealer, employing appropriate expertise, and in the belief that it is fair and not misleading. It is approved for distribution in the United Kingdom by Jefferies International Limited ("JIL") authorized and regulated by the Financial Conduct Authority ("FCA"). The information upon which this material is based was obtained from sources believed to be reliable, but has not been independently verified. Therefore except for any obligations under the rules of the Financial Conduct Authority ("FCA"), we do not guarantee its accuracy. Additional and supporting information is available upon request. This is not an offer or solicitation of an offer to buy or sell any security or investment. Any opinion or estimates constitute our best judgment as of this date, and are subject to change without notice. Jefferies and JIL and their affiliates and their respective directors, officers and employees may buy or sell securities mentioned herein as agent or principal for their own account. This material is intended for use only by professional or institutional investors falling within articles 19 or 49 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 and not the general investing public. None of the investments or investment services mentioned or described herein are available to other persons in the U.K. and in particular are not available to "private customers" as defined by the rules of the Financial Conduct Authority ("FCA") or to anyone in Canada who is not a "Designated Institution" as defined by the Securities Act (Ontario).