VENDOR DISCLAIMER

BLOOMBERG

“Source: Bloomberg Index Services Limited. BLOOMBERG® and the indices referenced herein (the “Indices”, and each such index, an “Index”) are service marks of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”) and/or one or more third-party providers (each such provider, a ”Third-Party Provider,”) and have been licensed for use for certain purposes to LOUISIANA STATE EMPLOYEES RETIREMENT SYSTEM (the “Licensee”).

To the extent a Third-Party Provider contributes intellectual property in connection with the Index, such third-party products, company names and logos are trademarks or service marks, and remain the property, of such Third-Party Provider. Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices.

Neither Bloomberg nor Bloomberg’s licensors, including a Third-Party Provider, approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither Bloomberg nor Bloomberg’s licensors, including a Third-Party Provider, shall have any liability or responsibility for injury or damages arising in connection therewith.”

S&P DOW JONES INDICES

“The S&P 500, S&P 400 (also known as the S&P MidCap 400), and the S&P 600 (also known as the S&P SmallCap 600) are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”). S&P®, S&P 500®, The 500™, US 500™, S&P 400®, S&P MidCap 400®, S&P 600® and S&P SmallCap 600® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”) and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Louisiana State Employees Retirement System (LASERS). It is not possible to invest directly in an index. LASERS S&P 500 Index Fund, LASERS S&P 400 Index Fund, and LASERS S&P 600 Index Fund are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P or any of their respective affiliates (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices makes no representation or warranty, express or implied, to the owners of the LASERS S&P 500 Index Fund, LASERS S&P 400 Index Fund, and LASERS S&P 600 Index Fund or any member of the public regarding the advisability of investing in securities generally or in LASERS S&P 500 Index Fund, LASERS S&P 400 Index Fund, and LASERS S&P 600 Index Fund particularly or the ability of the S&P 500 Index, S&P 400 Index, and S&P 600 Index to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices only relationship to Louisiana State Employees Retirement System (LASERS) with respect to the S&P 500 Index, S&P 400 Index, and S&P 600 Index is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500 Index, S&P 400 Index, and S&P 600 Indices are determined, composed and calculated by S&P Dow Jones Indices without regard to Louisiana State Employees Retirement System (LASERS) or the LASERS S&P 500 Index Fund, LASERS S&P 400 Index Fund, and LASERS S&P 600 Index Fund. S&P Dow Jones Indices has no obligation to take the needs of Louisiana State Employees Retirement System (LASERS) or the owners of LASERS S&P 500 Index Fund, LASERS S&P 400 Index Fund, and LASERS S&P 600 Index Fund into consideration in determining, composing or calculating the S&P 500 Index, S&P 400 Index, and S&P 600 Index. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of LASERS S&P 500 Index Fund, LASERS S&P 400 Index Fund, and LASERS S&P 600 Index Fund. There is no assurance that investment products based on the S&P 500 Index, S&P 400 Index, and S&P 600 Index will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment adviser, commodity trading advisory, commodity pool operator, broker dealer, fiduciary, promoter” (as defined in the Investment Company Act of 1940, as amended), “expert” as enumerated within 15 U.S.C. § 77k(a) or tax advisor. Inclusion of a security, commodity, crypto currency or other asset within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, commodity, crypto currency or other asset, nor is it considered to be investment advice or commodity trading advice. SPDJI provides indices that use environmental, social and/or governance (ESG) indicators (including, without limit, business involvement screens, conformance to voluntary corporate standards, GHG emissions data, and ESG scores) to select, weight and/or exclude constituents. ESG indicators seek to measure a company’s, or an asset’s performance, with respect to E, S and/or G criteria. ESG indicators are derived from publicly reported data, modelled data, or a combination of reported and modelled data. ESG indicators are based on a qualitative assessment due to the absence of well-defined uniform market standards and the use of multiple methodologies to assess ESG factors. No single clear, definitive test or framework (legal, regulatory, or otherwise) exists to determine labels such as, ‘ESG’, ‘sustainable’, ‘good governance’, ‘no adverse environmental, social and/or other impacts’, or other equivalently labelled objectives. Therefore, the exercise of subjective judgment is necessary. Different persons may classify the same investment, products and/or strategy differently regarding the foregoing labels.

S&P DOW JONES INDICES DOES NOT GUARANTEE THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500 INDEX, S&P 400 INDEX, AND S&P 600 INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY LOUISIANA STATE EMPLOYEES RETIREMENT SYSTEM (LASERS)], OWNERS OF THE LASERS S&P 500 INDEX FUND, LASERS S&P 400 INDEX FUND, AND LASERS S&P 600 INDEX FUND OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500 INDEX, S&P 400 INDEX, AND S&P 600 INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. S&P DOW JONES INDICES HAS NOT REVIEWED, PREPARED AND/OR CERTIFIED ANY PORTION OF, NOR DOES S&P DOW JONES INDICES HAVE ANY CONTROL OVER, THE LICENSEE PRODUCT REGISTRATION STATEMENT, PROSPECTUS OR OTHER OFFERING MATERIALS. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND LOUISIANA STATE EMPLOYEES RETIREMENT SYSTEM (LASERS), OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.”