PGIM to merge PGIM Jennison Focused Value Fund into PGIM Jennison Focused Value ETF

The planned reorganization will replace shareholders’ fund holdings with ETF shares carrying a 0.33% expense ratio.

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Reorganization expected to become effective on or about January 15, 2027

NEWARK, N.J.--(BUSINESS WIRE)-- PGIM, the $1.5 trillion¹ global investment management business of Prudential Financial, Inc. (NYSE: PRU), will merge the PGIM Jennison Focused Value Fund into the PGIM Jennison Focused Value ETF.

The reorganization, initially announced in June 2026, is expected to become effective on or about January 15, 2027.

Upon completion of the reorganization, shareholders of the PGIM Jennison Focused Value Fund will receive shares of the PGIM Jennison Focused Value ETF, which trades under the ticker symbol PJFV and has an expense ratio of 0.33%.

Following the reorganization, the PGIM Jennison Focused Value Fund will cease operations.

For more information about PGIM’s active ETF lineup, visit pgim.com.

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), with $1.5 trillion in assets under management.¹ PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions — including fixed income, equities, real estate and alternatives. With 1,500+ investment professionals across 40 offices in 20 countries, we serve retail and institutional clients worldwide. For more information visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

1 As of June 30, 2026. Assets are rounded to the nearest full number.

Jennison Associates is a registered investment advisor under the U.S. Investment Advisers Act of 1940, as amended, and a Prudential Financial company. Registration as a registered investment adviser does not imply a certain level of skill or training.

Jennison Associates LLC has not been licensed or registered to provide investment services in any jurisdiction outside the United States. Certain investment vehicles are distributed or offered through Prudential Investment Management Services LLC (also a Prudential Financial Company) or other affiliated entities. Additionally, vehicles may not be registered or available for investment in all jurisdictions. Please visit jennison.com/important-disclosures for important information, including information on non-U.S. jurisdictions.

Jennison Focused Value ETF Risk Disclosure

As an actively managed exchange-traded fund (ETF), risks of investing in the Fund include, but are not limited to the following: The Fund is subject to authorized participant concentration risk and the risks of transacting in cash versus in-kind. ETFs may trade at a premium or discount to net asset value and may lack an active trading market. Additional costs may be incurred when transacting through a broker. Equity and equity-related securities may be subject to changes in value, and their values may be more volatile than those of other asset classes. Value style investing may be out of favor for long periods of time, and the market may not recognize a security’s intrinsic value for a long time or at all. Foreign securities are subject to currency fluctuations and political uncertainty. Large-capitalization companies go in and out of favor based on market and economic conditions; the Fund’s value may not rise or fall as much as the value of funds that emphasize companies with smaller market capitalizations. At times, the Fund may have a significant portion of its assets invested in the same economic sector, making the Fund more vulnerable to developments in that sector. There is no guarantee the Fund’s objective will be achieved. Risks are more fully explained in the Fund’s prospectus.

Consider a fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Contact your financial professional for a prospectus and summary prospectus. Read them carefully before investing.

Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. Jennison Associates (Jennison) is a registered investment advisor. All are Prudential Financial affiliates. PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates. © 2026 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, Jennison Associates, Jennison, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.

INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate

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MEDIA CONTACT:
PGIM
Travis Fishstein
+1 973-382-6093
travis.fishstein@pgim.com

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Source: Prudential Financial, Inc.