Bridges Trust Market Commentary Disclosure

DISCLOSURES AND IMPORTANT INFORMATION

Bridges Trust and logo reference independent services offered by Bridges Trust Company (“BTC”), Bridges Trust Company of South Dakota (“BTC-SD”) and Bridges Investment Management Inc. (“BIM”). Trust services are provided by BTC, a trust company chartered through the Nebraska Department of Banking and Finance, and BTC–SD, a trust company chartered through the South Dakota Division of Banking. BTC, BTC-SD, and certain individual clients of BIM directly utilize the investment management services provided by BIM. BIM is an investment adviser registered with the U.S. Securities Exchange Commission (“SEC”) with further information including conflicts of interest and material risks available in BIM’s ADV Brochure at www.adviserinfo.sec.gov/firm/108028 and www.bridgesinv.com. Registration with the SEC does not imply a certain level of skill or training.

This client communication is provided for informational purposes only and is not a recommendation to purchase, hold, or sell any security.  Information was obtained from sources we believe to be reliable, but the accuracy of the information cannot be guaranteed. Each investor’s situation is unique so please work with your Relationship Manager to develop an individualized investment plan before investing.

Sources: Economic data provided by FactSet Research Systems, Strategas Research Partners, Federal Reserve Economic Data – St. Louis Fed, Federal Reserve Economic Data – San Francisco, Conference Board. Insights and news provided by J.P. Morgan Market Insights, and Bloomberg. The S&P 500 index measures the stock performance of 500 large companies listed on US stock exchanges and is provided as a benchmark representing the US stock market. Indices and economic data are the property of their respective owners, all rights reserved.

Investing involves risk and the possibility of loss.

Past performance is no guarantee of future results.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS – This communication contains forward-looking statements that involve substantial risks and uncertainties. We believe it is essential to communicate our expectations to our clients. However, there may be events in the future that we’re unable to predict accurately or have no control. Actual results or other conditions may differ materially from those contemplated by any forward-looking statements, and we are not under any duty to update the forward-looking statements contained herein. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

CAUTIONARY STATEMENT REGARDING THIRD PARTY INFORMATION – This communication includes financial information, market data, statistical information, and estimates based on materials prepared by independent sources, as well as management’s own good faith estimates and analyses. We believe this third-party information to be reputable but have not independently verified it. Information based on estimates, forecasts, projections, market research, or similar methodologies or assumptions is inherently subject to uncertainties, and actual events or circumstances may differ materially from events and circumstances reflected in this information.