Highlighted Performance as of COB 9/30/ 'I' Share Classes in RED for Illustrative Purposes Performance as of COB 11/14/2018 Investment Fund

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1 Highlighted Performance as of COB 9/30/ 'I' Share Classes in RED for Illustrative Purposes Performance as of COB 11/14/2018 Investment Fund Investment Category YTD 1 Year 3 Year 5 Year 10 Year Ticker 1 Putnam Stable Value Fund 20 Stable Value 1.68% 2.21% 1.96% 1.89% 2.44% PCVTT 2 JPMorgan Government Bond R6 Government Bond -1.53% -1.67% 0.80% 1.40% 3.38% OGGYX 3 Lord Abbett Total Return R6 Intermediate Term Bond -2.01% -1.88% 1.94% 2.26% 5.42% LTRHX 4 ishares US Aggregate Bond Index K Intermediate Term Bond -2.21% -2.02% 1.25% 1.79% 3.61% WFBIX 5 American Funds Global Balanced R6 World Allocation -4.53% -2.77% 4.97% 3.92% N/A RGBGX 6 Columbia Dividend Income Fund Instl 3 Large-Cap Value 1.68% 6.53% 12.08% 10.71% N/A CDDYX 7 ishares S&P 500 Index K Large-Cap Blend 2.73% 6.61% 11.90% 11.28% 13.79% WFSPX 8 MFS Growth Fund R6 Large-Cap Growth 8.24% 9.73% 13.61% 13.02% N/A MFEKX 9 Columbia Mid-Cap Index Instl 2 Mid-Cap Blend -2.02% 2.24% 10.58% 9.18% N/A CPXRX 10 Delaware Small-Cap Value I Small-Cap Value -8.02% -4.07% 9.31% 7.46% 13.34% DEVIX 11 ishares Russell 2000 Small-Cap Index K Small-Cap Blend -1.04% 3.27% 10.70% 8.32% N/A BDBKX 12 ClearBridge Small-Cap Growth IS Small-Cap Growth 12.59% 18.51% 14.24% 9.88% 16.66% LMOIX 13 American Beacon International Equity R6 International Value % -7.93% 3.33% 1.32% 7.25% AAERX 14 ishares MSCI EAFE International Index K International Blend -8.84% -6.84% 4.57% 2.20% N/A BTMKX 15 Oppenheimer International Growth I International Growth % % 1.79% 1.41% N/A OIGIX

2 Goal Manager Portfolio Performance as of COB 9/30/2018 Investment Fund Investment Category YTD 1 Year 3 Year 5 Year 10 Year Ticker A Conservative Model Goal Manager Model 0.17% 1.34% N/A N/A N/A N/A B Conservative to Moderate Model Goal Manager Model 1.83% 4.14% N/A N/A N/A N/A C Moderate Model Goal Manager Model 3.16% 6.54% N/A N/A N/A N/A D Moderate to Aggressive Model Goal Manager Model 4.83% 9.34% N/A N/A N/A N/A E Aggressive Model Goal Manager Model 5.96% 11.33% N/A N/A N/A N/A Target Date Portfolios Performance as of COB 9/30/2018 Investment Fund Investment Category YTD 1 Year 3 Year 5 Year 10 Year Ticker A Income Model Targe Date Portfolio 0.49% N/A N/A N/A N/A N/A B 2015 Target Date Retirement Date Target Date Portfolio 0.54% N/A N/A N/A N/A N/A C 2020 Target Date Retirement Date Target Date Portfolio 0.84% N/A N/A N/A N/A N/A D 2025 Target Date Retirement Date Target Date Portfolio 0.90% N/A N/A N/A N/A N/A E 2030 Target Date Retirement Date Target Date Portfolio 1.04% N/A N/A N/A N/A N/A F 2035 Target Date Retirement Date Target Date Portfolio 1.23% N/A N/A N/A N/A N/A G 2040 Target Date Retirement Date Target Date Portfolio 1.44% N/A N/A N/A N/A N/A H 2045 Target Date Retirement Date Target Date Portfolio 1.66% N/A N/A N/A N/A N/A I 2050 Target Date Retirement Date Target Date Portfolio 1.70% N/A N/A N/A N/A N/A J 2055 Target Date Retirement Date Target Date Portfolio 1.84% N/A N/A N/A N/A N/A

3 GoalManager Fact Sheet GoalManager Portfolio Rebalancing Service VALERE LLC 401(K) PROFIT SHARING PLAN & TRUST Age-based investing made easy with Target Date portfolios When you save for retirement, how you invest your account at age 25 might be very different than how you invest your account at age 55. After all, if retirement is many years away, your focus might be on building your assets over time. But as you move closer to retirement, your focus might shift gradually to preserving the assets you have. Managing that process gradually shifting to a more conservative investment approach over time is what GoalManager using Target Date Portfolio Models can do for you. It s age-based investing made easy. Each Target Date Portfolio Model offers a diversified mix 1of the investment options available through your Plan. And each Target Date Portfolio Model is designed to adjust gradually based on a specified target retirement date to become more conservative (i.e., a higher percentage of assets in bonds and cash; a lower percentage in stocks) as that date approaches. Choosing a Target Date Portfolio Model The target date for these portfolio models is the approximate date when an investor plans to start withdrawing the assets from their retirement account. Generally, if you decide GoalManager is right for you, you would pick the year in which you want to begin withdrawing assets from the plan and then choose the portfolio model with the year in its name that most closely matches that date. This solution is designed for investing your entire account, to help ensure that your complete mix of investments in the Plan is appropriate for your targeted time horizon. The principal value of these portfolio models is not guaranteed at any time, including at the target date. So, consider your investment objectives, the importance of balancing investment risk and reward, and the investment choices available through your Plan. Then, if you believe that one of these Portfolio Models is appropriate for you, select that Portfolio Model for your investments. 1 Diversification does not ensure a profit or protect against loss. Merrill Lynch Wealth Management makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) and other subsidiaries of Bank of America Corporation. MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of Bank of America Corporation. Banking products are provided by Bank of America, N.A. and affiliated banks, members FDIC and wholly own subsidiaries of BofA Corp. Investment products: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value

4 Your Plan s Portfolio Models Here are the Plan s Portfolio Models and current allocations. For the Target Date Portfolio Models, the investment allocations are changed over time to become more conservative. However, the asset allocation of the Income Portfolio is not expected to be adjusted over time. Target Date Portfolio Models Stable Value/Money Market/Cash¹ Income Model 2015 Model 2020 Model 2025 Model 2030 Model 2035 Model Putnam Stable Value Fund 20 5% 5% 5% 5% 5% 5% Fixed Income/Bond Investment Option JPMorgan Government Bond Fund Class R6 11% 11% 9% 8% 7% 5% Lord Abbett Total Return Fund Class R6 64% 60% 49% 44% 37% 26% Equity/Stock Investment Options American Beacon International Equity Cl R6 3% 3% 5% 6% 7% 9% ClearBridge Small Cap Growth Fund Class IS 1% 1% 3% 3% 4% 5% Delaware Small Cap Value Fund Class I 1% 1% 2% 3% 4% 5% Oppenheimer International Growth Fund Cl I 3% 4% 5% 6% 7% 9% Columbia Dividend Income Fund Cl Institutional 3 5% 6% 8% 9% 10% 12% Columbia Mid Cap Index Fund Cl Institutional 2 2% 3% 6% 7% 9% 12% MFS Growth Fund Class R6 5% 6% 8% 9% 10% 12% 1 The Money Market/Stable Value/Cash asset class represents cash, cash equivalents or very short term investment vehicles such as, but not limited to, the following: The Retirement Bank Account, money market, ultra short term or short term bond funds and certain short duration stable value/gic funds. The Retirement Bank Account is an FDIC-insured bank deposit. The Retirement Bank Account (RBA), which is included in some GoalManager portfolio models is an FDIC-insured, interest-bearing demand deposit account (the deposit account is insured up to $250,000 per plan participant, per ownership category, per depository institutional). Diversification Most investment professionals agree it is best to take a diversified approach to investing one that spreads your retirement assets across a carefully selected group of investments. Diversification through asset allocation is a powerful strategy that can help reduce risk and potentially increase long-term results. Using Target Date Portfolio Models, GoalManager can put the power of asset allocation to work for you by making diversified investing simple through a selection of pre-mixed portfolio models. However, diversification does not ensure a profit or protect against loss. Prospectus Offering For more complete information on the investment options, including their management fees and other charges and expenses, please consult the prospectuses and other comparable documents. Investors should carefully consider the investment objectives, risks, charges and expenses before investing. This, and additional information about the investment options, can be found in the prospectuses, which can be obtained by calling your Merrill Lynch representative. Please read these documents carefully before investing. 2

5 Target Date Portfolio Models Stable Value/Money Market/Cash¹ Investing with GoalManager is Simple and Convenient! 1. Visit the Ascensus Participant Website at 2. Click on Account Modifications/Asset Allocation Program/Enroll-Change Model. 3. Choose your model. 4. Make your selection for future contributions. 5. Rebalance your account Model 2045 Model 2050 Model 2055 Model Putnam Stable Value Fund 20 5% 5% 5% 5% Fixed Income/Bond Investment Option JPMorgan Government Bond Fund Class R6 3% 0% 0% 0% Lord Abbett Total Return Fund Class R6 14% 6% 3% 0% Equity/Stock Investment Options American Beacon International Equity Cl R6 11% 12% 12% 12% ClearBridge Small Cap Growth Fund Class IS 6% 7% 7% 7% Columbia Dividend Income Fund Cl Institutional 3 14% 17% 18% 19% Columbia Mid Cap Index Fund Cl Institutional 2 16% 18% 18% 18% Delaware Small Cap Value Fund Class I 6% 7% 7% 7% MFS Growth Fund Class R6 14% 16% 17% 19% Oppenheimer International Growth Fund Cl I 11% 12% 13% 13% 1The Money Market/Stable Value/Cash asset class represents cash, cash equivalents or very short term investment vehicles such as, but not limited to, the following: The Retirement Bank Account, money market, ultra short term or short term bond funds and certain short duration stable value/gic funds. The Retirement Bank Account is an FDIC-insured bank deposit. The Retirement Bank Account (RBA), which is included in some GoalManager portfolio models is an FDIC-insured, interest-bearing money market bank deposit account (the deposit account is insured up to $250,000 per plan participant, per ownership category, per depository institutional). In addition to being adjusted gradually over the long term as the date in the title approaches each Target Date portfolio model is also rebalanced on a regular schedule so it doesn't drift from its extended asset mix in the short term. You can also contact a Participant Service Specialist toll free at to assist you in making this change. Specialists are available Monday to Friday 8:30am-7:00pm ET.

6 Important Risk Disclosures: Investing involves risk, including possible loss of the principal value invested. There are ongoing fees and expenses associated with investing. Bear in mind that higher return potential is accompanied by higher risk. Equity Investments in sector funds, including technology or real estate stocks, are subject to adverse political, economic or other developments and may carry additional risk resulting from lack of industry diversification. Funds that invest in small or mid-capitalization companies experience a greater degree of market volatility than those of large capitalization stocks and are riskier investments. Investments in foreign securities involve special risks including foreign currency and the possibility of substantial volatility due to adverse political economic or other developments which are magnified in emerging markets. Investing in commodities or the securities of companies operating in the commodities market involves a high degree of risk, including leveraging strategies and other speculative investment practices that may increase the risk of investment loss, including the principal value invested. Investments may be highly illiquid and subject to high fees and expenses. Fixed Income Bond funds have the same interest rate, inflation, and credit risks associated with the underlying bonds owned by the fund. Generally, the value of bond funds rises when prevailing interest rates fall and falls when interest rates rise. Investing in lower-grade debt securities ( junk bonds) may be subject to greater market fluctuations and risk of loss of income and principal than securities in higher rated categories. Any guarantee by the U.S. government, its agencies or instrumentalities applies only to the payment of principal and interest on the guaranteed security and does not guarantee the yield or value of that security. Target Date The target date [or retirement date, as applicable] for these funds is the approximate date when an investor plans to start withdrawing the assets from their retirement account. The principal value of these funds is not guaranteed at any time, including at the target date. These funds are designed to become more conservative over time as the target date approaches. Index It is not possible to invest directly in an index. Money Market BlackRock Treasury Strategies Institutional Fund, BlackRock Premier Government Institutional Fund, Ready Assets Government Liquidity Fund, Vanguard Federated Money Market Class I, Ready Assets US Treasury Fund,BlackRock FedFund Class Institutional, Vanguard Federal Money Market Fund Investor Class You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time. Stable Value Although stable value funds seek to maintain a stable value, achievement of this objective is not guaranteed. MLPF&S makes available investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation or in which Bank of America Corporation has a substantial economic interest. 4

7 MLPF&S is a registered broker-dealer, Member of FINRA and is not affiliated with Ascensus, Inc. Ascensus is a registered trademark of Ascensus, Inc. Unless otherwise noted, all trademarks and registered trademarks are the property of Bank of America Corporation Bank of America Corporation. All rights reserved. ARFB7WNN 5/2018

8 Qualified Retirement Plan/403(b) VALERE LLC 401(K) PROFIT SHARING PLAN & TRUST Notice of Default Investment(s) GENERAL INFORMATION You have the right to select how the assets in your retirement plan account will be invested. You may need to make investment elections upon initial enrollment under the plan, upon a change of investment options under the plan, or upon receipt of a rollover or transfer contribution into your account. If you do not follow the plan's procedures for making investment elections timely, any contributions made to your account will be invested in the plan's default investment described below. The investment of your account will continue in this manner unless and until you advise the plan administrator to the contrary. Your plan administrator will provide you with information on the plan's procedure(s) for making investment elections, including other investment alternatives available under the plan. Should you have questions regarding the default investment(s) please contact the plan administrator listed below and in your Summary Plan Description. You can also review the default investment prospectus(es) and participant fee disclosure notice (e.g., Information Regarding Your Retirement Account) delivered to you for information on the default investment(s) objectives, risk/return characteristics, fees and expenses, and transfer restrictions. INVESTMENT INFORMATION Default Investment(s) All amounts contributed to the plan for which you have provided no investment instructions will be invested in the following plan investment(s). You will be defaulted into the appropriate investment based on your birth year as shown below. Name of Investment Start Year End Year Income Model 1950 or earlier 2015 Target Date Portfolio 1951 to Target Date Portfolio 1954 to Target Date Portfolio 1956 to Target Date Portfolio 1960 to Target Date Portfolio 1965 to Target Date Portfolio 1970 to Target Date Portfolio 1975 to Target Date Portfolio 1980 to Target Date Portfolio 1985 or later * If your birth year is not on record, you will be automatically placed into the #10763 (9/2015) Page 1 of Ascensus, Inc., Brainerd, MN

9 American Funds Global Balanced Fund R6 (100%). Description of investment objectives and risk and return characteristics of the default investment(s): You will be defaulted into the appropriate investment based on your birth year. This investment includes a pre-selected investment mix that will be automatically updated as you get closer to retirement. Investments are subject to the risks of their underlying assets. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment is not guaranteed at any time, including on or after the target date. Description of fees and expenses associated with the default investment(s) and any transfer from the default investment(s): You may transfer the assets invested in the default investment(s) to any other investment alternative available under the plan. If you transfer to another investment alternative within 90 days beginning on the date your first contribution is invested in the plan or when you first had the opportunity to direct the investment of your assets, you will not incur any transfer fees or expenses. After this 90-day period, any applicable fees and expenses associated with the transfer from the default investment(s) will apply. In addition, the operating fees and expenses described below will always apply to this default investment(s) Target Date Portfolio Name of Investment NET annual operating expense* As a % Per $1000 American Beacon Intl Equity R6 0.66% $6.60 3% Columbia Dividend Income I3 0.59% $5.90 6% Columbia Mid Cap Index I2 0.20% $2.00 3% Delaware Small Cap Value Instl 0.93% $9.30 1% ClearBridge Small Cap Growth Fund 0.79% $7.90 1% IS Lord Abbett Total Return R6 0.36% $ % MFS Growth Fund Class R6 0.60% $6.00 6% JPMorgan Government Bond R6 0.35% $ % Oppenheimer International Growth 0.69% $6.90 4% I Putnam Stable Value % $3.70 5% 2020 Target Date Portfolio Fund % in Portfolio #10763 (9/2015) Page 2 of Ascensus, Inc., Brainerd, MN

10 Name of Investment NET annual operating expense* As a % Per $1000 American Beacon Intl Equity R6 0.66% $6.60 5% Columbia Dividend Income I3 0.59% $5.90 8% Columbia Mid Cap Index I2 0.20% $2.00 6% Delaware Small Cap Value Instl 0.93% $9.30 2% ClearBridge Small Cap Growth Fund 0.79% $7.90 3% IS Lord Abbett Total Return R6 0.36% $ % MFS Growth Fund Class R6 0.60% $6.00 8% JPMorgan Government Bond R6 0.35% $3.50 9% Oppenheimer International Growth 0.69% $6.90 5% I Putnam Stable Value % $3.70 5% 2025 Target Date Portfolio Name of Investment NET annual operating expense* As a % Per $1000 American Beacon Intl Equity R6 0.66% $6.60 6% Columbia Dividend Income I3 0.59% $5.90 9% Columbia Mid Cap Index I2 0.20% $2.00 7% Delaware Small Cap Value Instl 0.93% $9.30 3% ClearBridge Small Cap Growth Fund 0.79% $7.90 3% IS Lord Abbett Total Return R6 0.36% $ % MFS Growth Fund Class R6 0.60% $6.00 9% JPMorgan Government Bond R6 0.35% $3.50 8% Oppenheimer International Growth 0.69% $6.90 6% I Putnam Stable Value % $3.70 5% 2030 Target Date Portfolio Name of Investment NET annual operating expense* As a % Per $1000 American Beacon Intl Equity R6 0.66% $6.60 7% Columbia Dividend Income I3 0.59% $ % Columbia Mid Cap Index I2 0.20% $2.00 9% Delaware Small Cap Value Instl 0.93% $9.30 4% ClearBridge Small Cap Growth Fund 0.79% $7.90 4% Fund % in Portfolio Fund % in Portfolio Fund % in Portfolio #10763 (9/2015) Page 3 of Ascensus, Inc., Brainerd, MN

11 IS Lord Abbett Total Return R6 0.36% $ % MFS Growth Fund Class R6 0.60% $ % JPMorgan Government Bond R6 0.35% $3.50 7% Oppenheimer International Growth 0.69% $6.90 7% I Putnam Stable Value % $3.70 5% 2035 Target Date Portfolio Name of Investment NET annual operating expense* Fund % in Portfolio As a % Per $1000 American Beacon Intl Equity R6 0.66% $6.60 9% Columbia Dividend Income I3 0.59% $ % Columbia Mid Cap Index I2 0.20% $ % Delaware Small Cap Value Instl 0.93% $9.30 5% ClearBridge Small Cap Growth Fund 0.79% $7.90 5% IS Lord Abbett Total Return R6 0.36% $ % MFS Growth Fund Class R6 0.60% $ % JPMorgan Government Bond R6 0.35% $3.50 5% Oppenheimer International Growth 0.69% $6.90 9% I Putnam Stable Value % $3.70 5% 2040 Target Date Portfolio Name of Investment NET annual operating expense* Fund % in Portfolio As a % Per $1000 American Beacon Intl Equity R6 0.66% $ % Columbia Dividend Income I3 0.59% $ % Columbia Mid Cap Index I2 0.20% $ % Delaware Small Cap Value Instl 0.93% $9.30 6% ClearBridge Small Cap Growth Fund 0.79% $7.90 6% IS Lord Abbett Total Return R6 0.36% $ % MFS Growth Fund Class R6 0.60% $ % JPMorgan Government Bond R6 0.35% $3.50 3% Oppenheimer International Growth 0.69% $ % I Putnam Stable Value % $3.70 5% 2045 Target Date Portfolio #10763 (9/2015) Page 4 of Ascensus, Inc., Brainerd, MN

12 Name of Investment NET annual operating expense* Fund % in Portfolio As a % Per $1000 American Beacon Intl Equity R6 0.66% $ % Columbia Dividend Income I3 0.59% $ % Columbia Mid Cap Index I2 0.20% $ % Delaware Small Cap Value Instl 0.93% $9.30 7% ClearBridge Small Cap Growth Fund 0.79% $7.90 7% IS Lord Abbett Total Return R6 0.36% $3.60 6% MFS Growth Fund Class R6 0.60% $ % Oppenheimer International Growth 0.69% $ % I Putnam Stable Value % $3.70 5% 2050 Target Date Portfolio Name of Investment NET annual operating expense* Fund % in Portfolio As a % Per $1000 American Beacon Intl Equity R6 0.66% $ % Columbia Dividend Income I3 0.59% $ % Columbia Mid Cap Index I2 0.20% $ % Delaware Small Cap Value Instl 0.93% $9.30 7% ClearBridge Small Cap Growth Fund 0.79% $7.90 7% IS Lord Abbett Total Return R6 0.36% $3.60 3% MFS Growth Fund Class R6 0.60% $ % Oppenheimer International Growth 0.69% $ % I Putnam Stable Value % $3.70 5% 2055 Target Date Portfolio Name of Investment NET annual operating expense* Fund % in Portfolio As a % Per $1000 American Beacon Intl Equity R6 0.66% $ % Columbia Dividend Income I3 0.59% $ % Columbia Mid Cap Index I2 0.20% $ % Delaware Small Cap Value Instl 0.93% $9.30 7% ClearBridge Small Cap Growth Fund 0.79% $7.90 7% IS MFS Growth Fund Class R6 0.60% $ % #10763 (9/2015) Page 5 of Ascensus, Inc., Brainerd, MN

13 Oppenheimer International Growth 0.69% $ % I Putnam Stable Value % $3.70 5% Name of Investment Income Model NET annual operating expense* As a % Per $1000 American Beacon Intl Equity R6 0.66% $6.60 3% Columbia Dividend Income I3 0.59% $5.90 5% Columbia Mid Cap Index I2 0.20% $2.00 2% Delaware Small Cap Value Instl 0.93% $9.30 1% ClearBridge Small Cap Growth Fund 0.79% $7.90 1% IS Lord Abbett Total Return R6 0.36% $ % MFS Growth Fund Class R6 0.60% $6.00 5% JPMorgan Government Bond R6 0.35% $ % Oppenheimer International Growth 0.69% $6.90 3% I Putnam Stable Value % $3.70 5% Fund % in Portfolio Name of Investment American Funds Global Balanced Fund R6 NET annual operating expense* Fund % in Portfolio As a % Per $ % $ % *The overall expense ratio of the portfolio is a weighted average of the underlying funds. Redemption fees and contingent deferred sales charges (CDSC) do not apply/exist for these funds. Data as of 9/30/2018. Transfer Rights You have the right to transfer the assets invested in the default investment(s) to any other investment alternative available under the plan. Description of the frequency with which investment transfers are permitted: You can redirect your future contributions and change the way your plan account balance is invested anytime, subject to each fund's trading restrictions and any purchase fees (if applicable). For more information, you can access the investment fund fact sheets or investment prospectus located on your participant website, which will include further information #10763 (9/2015) Page 6 of Ascensus, Inc., Brainerd, MN

14 about the investment objectives, risk/return characteristics, fees and transfer rights. Please contact the Plan Administrator if: You have any questions about how the plan works or your rights and obligations under the plan. You would like a copy of the plan's Summary Plan Description or other plan documents. You would like additional information about your investment alternatives. Name of Plan Administrator VALERE LLC Address PO BOX City, State, Zip WHITE BEAR LAKE, MN, Phone (763) Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) many not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Portions of the mutual fund information contained in this document were supplied by Morningstar, Inc. #10763 (9/2015) Page 7 of Ascensus, Inc., Brainerd, MN

15 VALERE LLC 401(K) PROFIT SHARING PLAN & TRUST August 23, 2018 Notice of Changes The summary below highlights the recent changes to the VALERE LLC 401(K) PROFIT SHARING PLAN & TRUST plan. Complete details on these changes can be found in the pages that follow. The information in this document is designed to provide you important information about your company s retirement plan and help you make the best possible decisions regarding the management of your retirement account. Investment Options Added The following investment options have been added to your plan. Additional information can be found on the investment s website or at Investment Name American Beacon Intl Equity R6 American Funds Global Balanced Fund R6 ClearBridge Small Cap Growth Fund IS Columbia Dividend Income I3 Columbia Mid Cap Index I2 Delaware Small Cap Value Instl ishares MSCI EAFE Intl Index K ishares Russell 2000 Small-Cap Index K ishares S&P 500 Index K ishares U.S. Aggregate Bond Index K JPMorgan Government Bond R6 Lord Abbett Total Return R6 MFS Growth Fund Class R6 Oppenheimer International Growth I Putnam Stable Value 20 Investment Options Removed The following investment options are no longer available through your plan: Investment Name Oppenheimer International Growth R Davis New York Venture R MFS Total Return R2 BlackRock Advantage Large Cap Core R BlackRock Global Allocation R BlackRock Ready Assets Govt Liq Fund ClearBridge Small Cap Growth Fund R Lord Abbett Core Fixed Income R2 JPMorgan Government Bond R2 Goldman Sachs Intl Eq Insights R Eaton Vance Atlanta Capital SMID-Cap R Delaware Small Cap Value R 1 P a g e

16 Delaware US Growth R Model Allocations Added The following model allocations have been added to your plan. Additional information can be found in the Model Allocation table within the attached disclosure. Model Name 2015 Target Date Portfolio 2020 Target Date Portfolio 2025 Target Date Portfolio 2030 Target Date Portfolio 2035 Target Date Portfolio 2040 Target Date Portfolio 2045 Target Date Portfolio 2050 Target Date Portfolio 2055 Target Date Portfolio Income Model 2 P a g e

17 General Plan Information Investment Instructions You are responsible for choosing how to invest the assets in your account according to the procedures provided by your plan administrator. Information on your plan s investments and how to provide investment instructions can be found in the Investment Options section of this document. Your investment decisions are subject to any limitations or restrictions described in the table below. Investment Limitations or Restrictions The portion(s) of your account that you can invest How often you can change your investment elections How often you can transfer assets between investment options Additional rules that apply to selecting investments Your Entire Account Daily Daily Exercise of Voting and Other Rights Certain voting and other rights may apply to an investment option that you have chosen for your account. Those rights may be exercised by the plan sponsor or other named fiduciary for the plan who retains the right to exercise on behalf of the plan voting, tender and similar rights with respect to the designated investment alternatives in the plan. Designated Investments For a list of investment options offered through the plan, please review the Investment Options comparative chart in this document. Investment Managers For the investment managers of the plan s investment options, please see each investment s website, prospectus or fact sheet. Administrative Expenses Expenses for administrative services provided to the plan may be charged to your account. These services are necessary for the operation of your plan and can include recordkeeping, custodial, legal, and accounting services. Your employer has directed that administrative fees be charged pro rata based on the amount of each participant s account balance. Charges will depend on the value of your account. Based on our records, the annual fee is estimated to be $5 per $1,000 in your account. This estimate is subject to change as it is based on varying factors such as the number of participants in the plan and current balances. Actual fees may vary from this estimate or may not be deducted from plan accounts in some circumstances. The actual amount charged to your account will appear on your participant statement under the Your Expenses section. Individual Expenses The expenses listed below for services provided to you may be charged to your account. If any of these expenses are charged to you, they will be deducted from check proceeds or from account assets. The fees listed below only apply for the services you use. Please see the Information About the Document section at the end of this document for further details. 3 P a g e

18 Expense Taking a loan Taking a distribution Check stop payment/re-issue Outgoing wire transfer/reject/re-issue/ups Delivery Each additional distribution check (if more than one) Amount $150 per Loan $60 per Distribution $35 per Check $30 per Wire $15 per Check Investments available in your plan may charge additional fees to your account such as fund redemption fees, sales charges, deferred sales charges or other trading restrictions. Please review the complete investment fee and performance chart contained in this notice to determine whether these fees may be assessed for an investment option, and review your account statement for a detailed disclosure of the dollar amount actually charged to your account related to these fees. Notes: For certain distributions, e.g., permissible withdrawals, the standard distribution fee will be waived and only a $15.00 check fee will apply. Investment Options Whether you will have adequate savings at retirement will depend in large part on how much you choose to save and how you invest your savings. While the information below is important to making informed investment decisions, you should carefully review all available information about an investment option prior to making an investment decision. In addition to the core investment options, model portfolios which are pre-defined asset allocation strategies utilizing the core investments are also available in your plan. Quarterly, your investment will be rebalanced back to the proper allocation. You can invest a portion or your entire balance in the model portfolio. Please visit for additional information on the model portfolios including the underlying fund allocations. This document includes important information to help you compare the investment options under your retirement plan. If you want additional information about your investment options, you can go to the specific website address shown below or you can contact SANDY DISCHINGER/SHARI BLAIR at A free paper copy of the information available on the website(s) can be obtained by contacting SANDY DISCHINGER/SHARI BLAIR at Document Summary This document has three parts. Part I consists of performance information for plan investment options. This part shows you how well the investments have performed in the past. Part II shows you the fees and expenses you will pay if you invest in an option. Part III contains information about the annuity options (if applicable) under your retirement plan. Part I Performance Information Table 1 focuses on the performance of investment options that do not have a fixed or stated rate of return. Table 1 shows how these options have performed over time and allows you to compare them with an appropriate benchmark for the same time periods. Past performance does not guarantee how the investment option will perform in the future. Your investment in these options could lose money. Information about an option s principal risks is available on the website(s) listed in Table 1. Additional information is also available at Table 1 Variable Return Investments 4 P a g e

19 Name / Type of Option / Website Equity Funds American Beacon Intl Equity R6/ International Stock ClearBridge Small Cap Growth Fund IS/ Small Cap U.S. Stock Columbia Dividend Income I3/ Large Cap U.S. Stock m Columbia Mid Cap Index I2/ Mid Cap U.S. Stock Delaware Small Cap Value Instl/ Small Cap U.S. Stock ishares MSCI EAFE Intl Index K/ International Stock ishares Russell 2000 Small-Cap Index K/ Small Cap U.S. Stock ishares S&P 500 Index K/ Large Cap U.S. Stock MFS Growth Fund Class R6/ Large Cap U.S. Stock Oppenheimer International Growth I/ International Stock Bond Funds ishares U.S. Aggregate Bond Index K/ Diversified Bond JPMorgan Government Bond R6/ Government Bond Lord Abbett Total Return R6/ Diversified Bond Average Annual Total Return Benchmark As of 7/31/2018 1yr. 5yr. 10yr. Since 1yr. 5yr. 10yr. Since Inception Inception 5.76% 4.93% 3.95% 13.42% 3.82% 4.35% 2.65% 10.23% MSCI ACWI Ex USA Value NR USD 34.66% 12.94% 12.32% 12.54% 22.91% 12.38% 11.17% 11.41% Russell 2000 Growth TR USD 13.95% 11.81% 10.55% 14.17% 9.54% 10.04% 8.95% 13.46% Russell 1000 Value TR USD 14.21% 11.48% 10.98% 14.88% 13.45% 11.51% 10.79% 14.94% Russell Mid Cap TR USD 11.69% 10.68% 10.48% 11.04% 14.37% 10.19% 9.52% 11.16% Russell 2000 Value TR USD 6.59% 5.68% 3.28% 5.11% 5.94% 5.59% 3.16% 4.02% MSCI ACWI Ex USA NR USD 18.80% 11.37% 10.32% 11.30% 18.73% 11.33% 10.39% 11.28% Russell 2000 TR USD 16.21% 13.07% 10.59% 9.58% 16.19% 12.96% 10.70% 9.86% Russell 1000 TR USD 23.81% 15.84% 11.86% 17.31% 22.84% 15.83% 12.37% 17.21% Russell 1000 Growth TR USD 5.70% 5.83% 6.06% 7.97% 8.04% 6.77% 3.62% 6.99% MSCI ACWI Ex USA Growth NR USD -1.02% 2.12% 3.57% 4.91% -0.80% 2.25% 3.73% 5.10% BBgBarc US Agg Bond TR USD -0.93% 1.70% 3.54% -1% -1.20% 1.41% 2.83% -1.70% BBgBarc US Government TR USD -0.68% 2.71% 4.79% 2.03% -0.80% 2.25% 3.73% 1.68% BBgBarc US Agg Bond TR USD 5 P a g e

20 Other American Funds Global Balanced Fund R6/ Balanced Putnam Stable Value 20/ Capital Preservation 5% 6.23% N/A 6.76% 7.05% 6.55% 6.02% 6.19% Morningstar Gbl Allocation TR USD 2.16% 1.87% 2.49% 4.42% -1.46% -0.02% 1.09% 3.89% USTREAS T-Bill Cnst Mat Rate 3 Yr Income Model N/A N/A N/A -0.05% N/A N/A N/A N/A ml CONSERVATIVE MODEL 1.64% N/A N/A 2.93% N/A N/A N/A N/A ml CONSERVATIVE TO MODERATE MODEL ml 4.77% N/A N/A 5.34% N/A N/A N/A N/A MODERATE MODEL 7.67% N/A N/A 7.67% N/A N/A N/A N/A ml MODERATE TO AGGRESSIVE MODEL ml 10.86% N/A N/A 9.95% N/A N/A N/A N/A AGGRESSIVE MODEL 13.23% N/A N/A 11.71% N/A N/A N/A N/A ml 2015 Target Date Portfolio N/A N/A N/A -0.06% N/A N/A N/A N/A ml 2020 Target Date Portfolio N/A N/A N/A -0.07% N/A N/A N/A N/A ml 2025 Target Date Portfolio N/A N/A N/A -0.09% N/A N/A N/A N/A ml 2030 Target Date Portfolio N/A N/A N/A -0.10% N/A N/A N/A N/A ml 2035 Target Date Portfolio N/A N/A N/A -0.12% N/A N/A N/A N/A ml 2040 Target Date Portfolio N/A N/A N/A -0.13% N/A N/A N/A N/A ml 2045 Target Date Portfolio N/A N/A N/A -0.16% N/A N/A N/A N/A ml 6 P a g e

21 2050 Target Date Portfolio N/A N/A N/A -0.17% N/A N/A N/A N/A ml 2055 Target Date Portfolio N/A N/A N/A -0.19% N/A N/A N/A N/A ml Table 2 focuses on the performance of investment options that have a fixed or stated rate of return. Table 2 shows the annual rate of return of each option, the term or length of time that you will earn this rate of return and other information relevant to performance. Table 2 Fixed Return Investments Name/Type of Option Return Term Other Note: To help achieve long-term retirement security, you should give careful consideration to the benefits of a wellbalanced and diversified investment portfolio. Spreading your assets among different types of investments can help you achieve a favorable rate of return, while minimizing your overall risk of losing money. This is because market or other economic conditions that cause one category of assets, or one particular security, to perform very well often cause another asset category, or another particular security to perform poorly. If you invest more than 20% of your retirement savings in any one company or industry, your savings may not be properly diversified. Although diversification is not a guarantee against loss, it is an effective strategy to help you manage investment risk. Part II Fee and Expense Information Table 3 shows fee and expense information for the investment options listed in Table 1 and Table 2. Table 3 shows the total annual operating expenses of the options in Table 1. Total annual operating expenses are expenses that reduce the rate of return of the investment option. Table 3 also shows shareholder-type fees. These fees are in addition to total annual operating expenses. Please see the Information About This Document section at the end of this document for further details. Table 3 Fees and Expenses Total Annual Maximum Deferred Name Type of Option Operating Expenses Sales Sales Redemption fees or trading restrictions (if applicable) Equity Funds As a % Per $1000 Charge Charge* American Beacon Intl Equity R6 International Stock 0.89% $8.90 N/A N/A Trading Restrictions: Holding period of 90 day(s) enforced on transfer IN transactions after 2 Round Trip of $0.01 or more within a period of 90 day(s). ClearBridge Small Cap Growth Fund IS Small Cap U.S. Stock 0.79% $7.90 N/A N/A Columbia Dividend Income I3 Large Cap U.S. Stock 0.59% $5.90 N/A N/A Trading Restrictions: Holding period of 90 day(s) enforced on transfer IN transactions after 2 Round Trip of $0.01 or more within a period of 28 day(s). Columbia Mid Cap Index I2 Mid Cap U.S. Stock 0.27% $2.70 N/A N/A Trading Restrictions: Holding period of 90 day(s) enforced on transfer IN transactions after 2 Round Trip of $0.01 or more within a period of 28 day(s). 7 P a g e

22 Delaware Small Cap Value Instl Small Cap U.S. Stock 0.93% $9.30 N/A N/A ishares MSCI EAFE Intl Index K International Stock 0.06% $0.60 N/A N/A ishares Russell 2000 Small-Cap Index K Small Cap U.S. Stock 0.14% $1.40 N/A N/A ishares S&P 500 Index K Large Cap U.S. Stock 0.04% $0.40 N/A N/A MFS Growth Fund Class R6 Large Cap U.S. Stock 0.60% $6 N/A N/A Trading Restrictions: Holding period of 90 day(s) enforced on transfer IN transactions after 2 Transfer Out of $15, or more within a period of 90 day(s). Oppenheimer International Growth I International Stock 0.69% $6.90 N/A N/A Bond Funds ishares U.S. Aggregate Bond Index K Diversified Bond 0.06% $0.60 N/A N/A JPMorgan Government Bond R6 Government Bond 0.43% $4.30 N/A N/A Trading Restrictions: Holding period of 30 day(s) enforced on transfer IN transactions after 1 Transfer Out of $5, or more within a period of 1 day(s). Lord Abbett Total Return R6 Diversified Bond 0.36% $3.60 N/A N/A Other American Funds Global Balanced Fund R6 Balanced 0.52% $5.20 N/A N/A Trading Restrictions: Holding period of 30 day(s) enforced on transfer IN transactions after 1 Transfer Out of $5, or more within a period of 1 day(s). Putnam Stable Value 20 Capital Preservation 0.37% $3.70 N/A N/A Fixed Return Investments Merrill Lynch, Pierce, Fenner and Smith, incorporated (Merrill Lynch) charges our Plan a fixed, annual rate for fiduciary service related to the plan s investment option and a fixed, annual rate for Financial Advisor non fiduciary suite of informational and educational services that the Plan has selected to have the advisor provide collectively, the Merrill Lynch Service Fees. The Merrill Lynch Service Fees may be paid, in whole or in part, from investment related fund revenue. If investment related fund revenue with respect to the Plan does not cover the Merrill Lynch Service Fees, Merrill Lynch will send an invoice to the Plan Sponsor for the difference. In this case, the unpaid portion of the Merrill Lynch Service Fees may be charged to the Plan and allocated to participant accounts on a pro rate basis, if not paid by the Plan Sponsor. If investment related fund revenue with respect to the Plan exceeds the Merrill Lynch Service Fees, the excess revenue will be deposited into an account in the Plan s trust. The cumulative effect of fees and expenses can substantially reduce the growth of your retirement savings. Visit the Department of Labor s website for an example showing the long-term effect of fees and expenses at Fees and expenses are only one of many factors to consider when you decide to invest in an option. You may also want to think about whether an investment in a particular option, along with your other investments, will help you achieve your financial goals. 8 P a g e

23 Part III Annuity Information Table 4 focuses on the annuity options under the plan. Annuities are insurance contracts that allow you to receive a guaranteed stream of payments at regular intervals, usually beginning when you retire and lasting for your entire life. Annuities are issued by insurance companies. Guarantees of an insurance company are subject to its long-term financial strength and claims-paying ability. Table 4 Annuity Options Name Objectives / Goals Pricing Factors Restrictions / Fees Please visit for a glossary of investment terms relevant to the investment options under this plan. This glossary is intended to help you better understand your options. More current information about your plan s investment options, including fees and expenses and performance updates, may be available at the listed website addresses. Compliance with Section 404(c) of the Employee Retirement Income Security Act Your employer intends to satisfy the requirements of Section 404(c) of the Employee Retirement Income Security Act (ERISA) and corresponding Department of Labor regulations. This means that your employer is providing you with the opportunity to decide how to invest the assets in your account, enabling you to choose investments that fit your personal needs. Your employer and certain individuals in charge of the plan (known as fiduciaries) will not be responsible for the investment performance of your account that results from your investment instructions. For additional information, please contact SANDY DISCHINGER/SHARI BLAIR at or PO BOX 10589, WHITE BEAR LAKE, MN who monitors compliance with these procedures. Information About This Document Portions of the mutual fund information contained in this document were supplied by Morningstar, Inc., subject to the following: 2016 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Copyright MSCI All Rights Reserved. Without prior written permission of MSCI, this information and any other MSCI intellectual property may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used to create any financial instruments or products or any indices. This information is provided on an as is basis, and the user of this information assumes the entire risk of any use made of this information. Neither MSCI nor any third party involved in or related to the computing or compiling of the data makes any express or implied warranties, representations or guarantees concerning the MSCI index-related data, and in no event will MSCI or any third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any use of this information. All Rights Reserved. Unpublished. PROPRIETARY TO MSCI. ETF trading costs For plans offering trading commissions (estimated at $0.015 per share) and securities transaction fees on the sales of ETF shares are factored into the average share price, if applicable. For more information on the securities transaction fees, please visit 9 P a g e

24 Investment Management Services For plans offering Investment management services provided by Morningstar, LLC. The fee shown in the Individual Expenses section is an annual fee that is charged quarterly based on average assets in your account for the prior quarter. Annual operating expenses The expense information in Table 3 of this document reflects the gross annual operating expenses of the investment options listed in Table 1. Some investments may waive a portion of this fee for a certain period of time to cap expenses at a certain level (net operating expenses). Please see the prospectus or similar document for details on each investment s gross and net annual operating expenses. N/A = information is either not applicable or not available. 10 P a g e

25 Summary Plan Description Prepared for VALERE LLC 401(k) Profit Sharing Plan and Trust

26 INTRODUCTION VALERE LLC has restated the VALERE LLC 401(k) Profit Sharing Plan and Trust to help you and other employees save for retirement. Your Employer has restated the Plan by signing a complex legal agreement - the Plan document - which contains all of the provisions that the Internal Revenue Service (IRS) requires. The Plan document must follow certain federal laws and regulations that apply to retirement plans. The Plan document may change when new or revised laws or regulations take effect. Your Employer also has the right to modify certain features of the Plan from time to time. You will be notified of changes affecting your rights under the Plan. This summary plan description (SPD) summarizes the important features of the Plan document, including your benefits and obligations under the Plan. If you want more detailed information regarding certain plan features or have questions about the information contained in this SPD, you should contact your Plan Administrator. You may also examine a copy of the plan document by making arrangements with your Plan Administrator. Certain terms in the SPD have a special meaning when used in the Plan. These terms are capitalized throughout the SPD and are defined in more detail in the DEFINITIONS section of the SPD. If there are any inconsistencies between this SPD and the Plan document, the Plan document will be followed. Your Employer has amended and restated the VALERE LLC 401(k) Profit Sharing Plan and Trust, which was originally adopted 1/1/2010. The effective date of this amended Plan is 4/1/2016. Although the Plan is generally effective 4/1/2016, you can never defer on Compensation that you receive before your Deferral election. TABLE OF CONTENTS ELIGIBILITY What requirements do I have to meet before I am eligible to contribute to the Plan? What requirements do I have to meet before I am eligible for any Matching Contributions my Employer makes to the Plan? What requirements do I have to meet before I am eligible for any Profit Sharing Contributions my Employer makes to the Plan? What requirements do I have to meet before I am eligible for any Qualified Nonelective Contributions (QNECs) my Employer makes to the Plan? Can I lose my eligibility? CONTRIBUTIONS (& VESTING) What amount can I contribute to the Plan? How do I start making contributions? What if I don't make a specific election to contribute some of my Compensation into the Plan? Can I change my contribution rate or stop making Deferrals after I start participating in the Plan? Ascensus, Inc., Brainerd, MN Page 2