By publicly posting the following written disclosure, Temple University (the “University”) intends that market participants receive and use it for purposes of the independent registered municipal advisor exemption to the Municipal Advisor Rule of the U.S. Securities and Exchange Commission (Rule 15Ba1-1-1(d)(3)(vi)).

Effective April 1, 2020 through April, 2022

The University has retained an independent registered municipal advisor. The University is represented by and will rely on its independent municipal advisor, Public Financial Management, Inc. (“PFM”), to provide advice on proposals from financial services firms concerning the issuance of municipal securities and municipal financial derivatives generally. The contact at PFM is Katherine Clupper, who can be reached at 215-567-6100. The University’s contract with PFM extends through April 1, 2022; accordingly, this certificate may be relied upon until such date or until its earlier withdrawal (notice of which will be posted on this website). If a proposal received will be seriously considered by the University, the University will share the proposal with its municipal advisor. The personnel of PFM who will advise the University on such matters have represented to the University that they have not been associated with the firms engaging in principal transactions of the University within the two years prior to the date of this certificate. The University does not make any representations as to the independence of PFM from the firms engaging in the principal transactions of the University. Please note that, aside from any correspondence between an underwriter and municipal advisor mandated by a regulatory authority, no underwriter is required to speak directly with or send documents directly to the municipal advisor unless specifically directed to do so by the authority.