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PRESS RELEASE

Media statement about Rich Clarida’s nomination for Vice Chairman of the Federal Reserve

16 April 2018

We at PIMCO are thrilled to learn that President Trump has nominated Richard Clarida to be the next Vice Chairman of the Federal Reserve Board. Rich is an incredibly talented economist who has provided critical insights for our clients, investors and others throughout his many years at PIMCO and this nomination reflects the high regard in which Rich’s contributions to economics, policy, and investment management are held. Rich joined PIMCO in 2006 as our first global strategist and in those 12 years has helped us to understand and navigate the most challenging economic, political and financial market landscape since the 1930s. The position of Fed Vice Chair requires confirmation by the United States Senate and we wish him well in this process.

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Disclosures

Except for the historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of PIMCO's sponsored investment products and separately managed accounts, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. PIMCO undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.