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<p class="MsoNormal"><b><span style="font-size:23.0pt;font-family:"Arial",sans-serif;color:#003C61">PFM Asset Management Joining U.S. Bank<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif">Since 2017, Treasury has greatly valued our partnership with PFM Asset Management to provide administrative and operational support for the Local Government Investment Pool. Today,
PFM Asset Management announced that it has entered into a definitive agreement to be purchased by U.S. Bank under its subsidiary, U.S. Bancorp Asset Management.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif">PFM remains committed to serving the needs of both Treasury and pool participants and is excited about the additional resources that will result from the sale. PFM Asset Management
will continue to operate as a separate entity under the terms of the deal, and the key staff and technology that currently support the pool will remain in place.
<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Georgia",serif"><a href="https://file-us.clickdimensions.com/pfmcom-a6kki/files/ehozinpressrelease_final.pdf">Click here</a> to read today’s press release from PFM and U.S. Bank.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#003C61">350 Winter Street NE, Suite 100<br>
Salem, OR 97301-3896<br>
<br>
<a href="http://omls.oregon.gov/mailman/listinfo/local-gov-news"><span style="color:#003C61">Manage Your Subscription or Unsubscribe</span></a><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#003C61">503.378.4000<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:#003C61"><a href="http://www.oregon.gov/treasury/"><span style="color:#003C61;text-decoration:none">oregon.gov/treasury</span></a><o:p></o:p></span></p>
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