Add Options Trading and Margin to Your Account

(0524-J05B) APP20247-31 (05/24)

Add Options Trading and Margin to Your

Account

Page 1 of 6

www.schwab.com 1-800-435-4000 (inside the U.S.) +1-317-596-4501 (U.S. residents traveling outside the U.S.) 1-888-686-6916 (multilingual

services) 1-415-667-8400 (Global Services)

As You're Filling Out This Form, Please Remember To:

• Complete Sections 1 through 4. For Organization accounts, you must complete Section 5 as well.

• See Section 6 for instructions on returning your completed form. (You do not need to return the disclosures that follow this form.)

• Have all account holders, agents or attorneys-in-fact, trustees, and authorized agents (print additional copies of pages 2, 3, 4, 5 and 6, as

needed) complete and sign this form.

• Complete a separate application for each account.

• Attach your account application and any other new account documents for new accounts.

• For IRA accounts only: Attach the separate Supplemental Application and Agreement for Limited Margin and Trading Option Spreads in Your IRA

Account if you are applying for Limited Margin or for Spread Trading (Level 2) in your IRA account. Each individual who is authorized to trade in

the IRA account must sign the Application and Agreement.

• For important disclosures about our relationship with you and the services we can provide, please visit schwab.com/transparency.

1. Enter Your Account Information

For new accounts, leave the Schwab Account Number field blank and provide the Title of the new account in the Title field.

Schwab Account Number

Title

2. Select Your Investment Strategy

Margin*

Check this box if you would like to apply to add margin without adding options trading.

Add margin to my account. The following account types are not eligible for Regulation T margin: retirement accounts such as 401(k) s, accounts

for charitable and nonprofit organizations, and Schwab Global Accounts.

†

*Clients residing in the European Union, excluding residents of Switzerland, are not eligible for margin.

†

Securities regulations require that options spreads positions can only be held in a margin account. If the account is an IRA, Limited Margin will

apply. Limited Margin in an IRA account can support option trading up to Spread Trading (Level 2). You may apply for Limited Margin without

Options by reviewing and accepting the terms of the Supplemental Application and Agreement for Limited Margin and Trading Option Spreads in

Your IRA Account. You may also apply for Spread Trading (Level 2) by selecting your strategy level on page 2 and reviewing and accepting the terms

of the Supplemental Application and Agreement for Limited Margin and Trading Option Spreads in Your IRA Account. Attach the completed

Agreement with this form and return them to Schwab. Each individual who is authorized to trade in the IRA account must sign the Agreement.

Options Trading

Please select only one strategy level.

Select the strategy level below that best fits your investment objectives. If you do not indicate a strategy below, Schwab will consider your

application for Covered (Level 0) options trading without margin. If you do not qualify for the strategy level you request, you may be approved for the

highest level that is appropriate for your account type,* experience, knowledge and financial situation. If your account is approved for options

trading, each account holder, agent or attorney-in-fact, trustee, and/or authorized agent on the account will be able to engage in options trading.

Covered (Level 0). Capital Preservation, and Income. Strategy level includes covered calls, covered puts, protective puts, collars, and cash-

secured equity puts. Covered puts require margin and are not allowed in IRA accounts.

Add margin (or Limited Margin in IRA accounts). For IRA accounts, attach and complete the Supplemental Application and Agreement for

Limited Margin and Trading Option Spreads in Your IRA Account.

CLEAR

(0524-J05B) APP20247-31 (05/24)

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Add Options Trading and Margin to Your Account

Long (Level 1). Capital Preservation, Growth, Speculation and Income. Strategy level includes all of the above, plus long calls, long puts, long

straddles, long combinations, and long strangles.

Add margin (or Limited Margin in IRA accounts). For IRA accounts, attach and complete the Supplemental Application and Agreement for

Limited Margin and Trading Option Spreads in Your IRA Account.

Margin is required and automatically added.

†#

Spreads (Level 2). Capital Preservation, Growth, Speculation and Income. Strategy level includes all of the above, plus vertical spreads, calendar

spreads, diagonal spreads, condors, butterflies, box spreads, and ratio spreads (long side heavy). For IRA accounts, attach and complete the

Supplemental Application and Agreement for Limited Margin and Trading Option Spreads in Your IRA Account.

Short Uncovered (Level 3). Capital Preservation, Growth, Speculation and Income. Strategy level includes all of the above, plus uncovered calls,

uncovered puts, short straddles, short combinations, short strangles, and uncovered ratio spreads.

*Covered (Level 0) is the only strategy level permitted in custodial, ESA, CRA, PCRA, QRP, and charitable and non-incorporated association

accounts. Covered (Level 0), Long (Level 1), and Spreads (Level 2) are the only strategy levels permitted in IRAs.

†

Securities regulations require that options spreads occur in a margin account. For IRA accounts, the IRA margin feature is needed to support

Spreads (Level 2). You may apply for IRA margin and Spreads (Level 2) by reviewing and accepting the terms of the Trading Options Spreads in your

IRA Authorization Agreement. Attach the completed Agreement with this form when you return it to Schwab. Each individual who is authorized to

trade in the IRA account must sign the Agreement.

If your Account is approved for either Spreads (Level 2) or Short Uncovered (Level 3) option trading and your Account is enrolled in the Bank Sweep

cash feature, you agree that Schwab may change the cash feature on your Account to the Schwab One

Interest feature. We will notify you of a

change to the cash feature for your Account.

3. Tell Us About Yourself

We respect your privacy. Charles Schwab & Co., Inc. ("Schwab") will use the information you provide to open and service your accounts,

communicate with you, and provide information about products and services. Read about Schwab's privacy policy at schwab.com/privacy.

Complete this section for each individual who is authorized to trade in this account.

Individual 1

Name First

Middle

Last

Marital Status

Single Married Divorced Widowed

Number of Dependents

Securities industry regulations require that we collect the following information.

Employment Information (Please select only one box.)

Employed Self-Employed Retired Homemaker Student Not Employed

Occupation (If you selected "Employed" or "Self-Employed," please select one option that best describes your occupation.)

Business Owner/Self-Employed Financial Services/Banking Professional Military Consultant

Executive/Senior Management Information Technology Professional Educator Other (specify):

Medical Professional Other Professional Sales/Marketing

Legal Professional Clerical/Administrative Services U.S. Government Employee (federal/state/local)

Accounting Professional Foreign Government Employee (non-U.S.) Trade/Service (labor/manufacturing/production)

Employer Name/Business Name Business Street Address (no P.O. boxes)

City State or Province Zip or Postal Code Country

Primary Source of Income (If your income is not from employment (salary and wages), you must identify your primary source of income.)

Spousal income (married) Alimony/spousal support (not married) Income from investments or real estate

Insurance/annuity payment Retirement fund/pension Social Security Disability No income

Other (specify):

(0524-J05B) APP20247-31 (05/24)

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Add Options Trading and Margin to Your Account

Relationship to Account

If you select Agent or Attorney-in-Fact, complete "Knowledge Level" and "Investment Experience" sections only, and complete the Schwab Power of

Attorney form.

Account Holder Agent or Attorney-in-Fact Trustee/Grantor Authorized Agent of Organization

The Next Two Questions Are Required by Industry Regulations

Are you or an immediate family member associated with or employed by a stock exchange or member firm of an exchange or FINRA, or a municipal

securities broker-dealer?

No Yes

(If "Yes," you must attach a letter from your or your immediate family member's employer or affiliated broker-dealer approving

the establishment of your Account when submitting this Application.

List the company name

Are you a director, 10% shareholder or policy-making officer of a publicly held company?

No Yes

(If "Yes," enter company name and trading symbol

You Must Provide Specific Information Below.

Your Annual Income is consistent annual income or estimated annual income from all sources, such as wages, distributions, social security and

pensions. Your Liquid Net Worth is the part of your net worth that can be easily turned into cash. Your Liquid Net Worth includes investments like

stocks and mutual funds but not assets like real estate. Your Total Net Worth will include your liquid net worth.

Financial Information

For individual or joint accounts, provide financial information for each owner.

For an entity, such as an organization, trust or corporation, provide the financial information for the entity.

Annual Income (Specify in U.S. Dollars) Liquid Net Worth (Specify in U.S. Dollars) Total Net Worth (Specify in U.S. Dollars)

Stock Trading

Knowledge Level (Please select only one.)

None Limited Good Extensive

Investment Experience

Number of Years Trading (Specify) Average Number of Trades per Year (Specify) Average Dollar Amount per Transaction (Specify)

Options Trading

Knowledge Level (Please select only one.)

None Limited Good Extensive

Investment Experience

Number of Years Trading (Specify) Average Number of Trades per Year (Specify) Average Dollar Amount per Transaction (Specify)

Individual 2

Name First

Middle

Last

Marital Status

Single Married Divorced Widowed

Number of Dependents

(0524-J05B) APP20247-31 (05/24)

Page 4 of 6

Add Options Trading and Margin to Your Account

Securities industry regulations require that we collect the following information.

Employment Information (Please select only one box.)

Employed Self-Employed Retired Homemaker Student Not Employed

Occupation (If you selected "Employed" or "Self-Employed," please select one option that best describes your occupation.)

Business Owner/Self-Employed Financial Services/Banking Professional Military Consultant

Executive/Senior Management Information Technology Professional Educator Other (specify):

Medical Professional Other Professional Sales/Marketing

Legal Professional Clerical/Administrative Services U.S. Government Employee (federal/state/local)

Accounting Professional Foreign Government Employee (non-U.S.) Trade/Service (labor/manufacturing/production)

Employer Name/Business Name Business Street Address (no P.O. boxes)

City State or Province Zip or Postal Code Country

Primary Source of Income (If your income is not from employment (salary and wages), you must identify your primary source of income.)

Spousal income (married) Alimony/spousal support (not married) Income from investments or real estate

Insurance/annuity payment Retirement fund/pension Social Security Disability No income

Other (specify):

Relationship to Account

If you select Agent or Attorney-in-Fact, complete "Knowledge Level" and "Investment Experience" sections only, and complete the Schwab Power of

Attorney form.

Account holder and spouse of joint owner Account holder and non-spouse of joint owner Agent or Attorney-in-Fact

Trustee/Grantor Authorized Agent of Organization

The Next Two Questions Are Required by Industry Regulations

Are you or an immediate family member associated with or employed by a stock exchange or member firm of an exchange or FINRA, or a municipal

securities broker-dealer?

No Yes

(If "Yes," you must attach a letter from your or your immediate family member's employer or affiliated broker-dealer approving

the establishment of your Account when submitting this Application.

List the company name

Are you a director, 10% shareholder or policy-making officer of a publicly held company?

No Yes

(If "Yes," enter company name and trading symbol

You Must Provide Specific Information Below.

Your Annual Income is consistent annual income or estimated annual income from all sources, such as wages, distributions, social security and

pensions. Your liquid net worth is the part of your net worth that can be easily turned into cash. Your Liquid Net Worth includes investments like

stocks and mutual funds but not assets like real estate. Your Total Net Worth will include your liquid net worth.

Financial Information

For individual or joint accounts, provide financial information for each owner.

For an entity, such as an organization, trust or corporation, provide the financial information for the entity.

Annual Income (Specify in U.S. Dollars)

Liquid Net Worth (Specify in U.S. Dollars) Total Net Worth (Specify in U.S. Dollars)

Stock Trading

Knowledge Level (Please select only one.)

None Limited Good Extensive

Investment Experience

Number of Years Trading (Specify) Average Number of Trades per Year (Specify) Average Dollar Amount per Transaction (Specify)

(0524-J05B) APP20247-31 (05/24)

Page 5 of 6

Add Options Trading and Margin to Your Account

Options Trading

Knowledge Level (Please select only one.)

None Limited Good Extensive

Investment Experience

Number of Years Trading (Specify)

Average Number of Trades per Year (Specify)

Average Dollar Amount per Transaction (Specify)

4. Acceptance of Agreements, Certification of Trust and Signature(s)

Acceptance of Margin Application Agreement

If you have selected to add margin to your account, you are applying for authorization to borrow money from Schwab using your assets as collateral.

By signing the Add Options Trading and Margin to Your Account application (the "Application"), you acknowledge that you have received and read a

copy of the Margin Disclosure Statement. You further agree that you have received, read and agreed to be bound by the Margin Application

Agreement in effect and as amended from time to time. The Margin Application Agreement contains two important sections: (1) Disclosure of Credit

Terms and Policies and (2) Margin and Short Account Agreement Terms and Conditions. Finally, you agree that you have received, read, and agreed

to be bound by the Schwab One

Account Agreement or the Schwab Account Agreement, whichever applies, as amended from time to time.

Please note that if you have a Trading Authority (TA) or Power of Attorney (POA) on your account, your agent or attorney-in-fact will have access to

your margin account. Additionally, if you hold a Schwab One brokerage account that is linked to a Schwab Bank Investor Checking

™

("Investor

Checking") account, the overdraft protection feature on your Investor Checking account may create a margin loan in your Schwab One

brokerage account.

Acceptance of Options Application Agreement

If you have selected to add options trading to your account, you are applying for authorization to trade options. By applying for authorization to trade

options and signing this Application, you agree that you have received, read and agreed to be bound by the Options Application Agreement in effect

and as amended from time to time. The Options Application Agreement contains two important sections: (1) Option Trading Rules and (2) Option

Agreement. You also acknowledge that you have received, read, and agreed to be bound by the Schwab One Account Agreement or the Schwab

Account Agreement, whichever applies, as amended from time to time.

You represent that you are aware of the inherent risks of options trading and that you are financially able to bear such risks and withstand options

trading losses, including the loss of your entire investment. You understand that Schwab may periodically request new financial information and

review your authorization to trade options.

The booklet "Characteristics and Risks of Standardized Options" will be provided to you when your account is approved for options trading. You

agree to read the booklet prior to conducting any trades in your account. You understand that your account will be handled in accordance with the

rules of the Options Clearing Corporation and the applicable exchange and/or regulatory agencies, and you agree to conduct activity in your account

in accordance with such rules.

Certification of Trust

By signing this Application on behalf of a Trust, each trustee signing below (the "Trustee[s]") certifies that the representations and warranties in the

attached Certification of Trust are true and complete.

Holders of accounts with the margin feature further acknowledge that securities securing loans from Schwab may be lent to Schwab and lent by

Schwab to others. I/we agree to the above terms and conditions:

All account holders (including additional account holders), agents or attorneys-in-fact, trustees, and authorized agents must sign and date using

blue or black ink.

signer1_SignHere signer1_DateSigned

Today's Date (mm/dd/yyyy)

signer1_DocuSignFullName

Print Name Title

signer1_SignHere signer1_DateSigned

Today's Date (mm/dd/yyyy)

signer1_DocuSignFullName

Print Name Title

Signature: Account Holder/Trustee/Authorized Agent or Agent or Attorney-in-Fact

(0524-J05B) APP20247-31 (05/24)

Page 6 of 6

Add Options Trading and Margin to Your Account

5. Certificate of Authority (for Organization Accounts Only)

This section is required for, and applies to, Organization accounts only: S Corporations C Corporations Sole Proprietorships Partnerships Limited

Liability Companies Non-Incorporated Associations

(certifying officer), the (primary role) of

(name of entity), a (type of entity), duly organized or already existing under the laws of the state (or country, if foreign

entity) of (location of entity), hereby certify (1) that the person(s) whose signature(s) appear(s) in Section 4 is/are

authorized to establish and maintain the requested margin borrowing authority or options trading authority (or both) with Schwab on behalf of the

Account Holder and to bind the Account Holder to the Margin Application Agreement and Options Application Agreement (as applied for in this

Application), pursuant to a duly adopted resolution of the board of directors or other applicable governing body; and (2) that the charter documents,

agreements, and applicable laws governing the Account Holder permit the establishment and maintenance of the requested margin account and

options trading authorization (as applicable).

signer1_SignHere signer1_DateSigned

Today's Date (mm/dd/yyyy)

signer1_DocuSignFullName

Print Name Title

6. Next Steps

Before you submit, be sure to complete the following steps if applicable.

Print copies of pages 2, 3, 4, 5 and 6, as needed for additional account holders, agents or attorneys-in-fact, trustees, or authorized agents.

Complete a separate application for each account.

Attach your account application and any other new account documents for new accounts.

Complete Section 5 for Organization accounts.

If applying for limited margin (including spread options trading) in an IRA, attach the Supplemental Application and Agreement for Limited

Margin and Trading Option Spreads in Your IRA Account. Note: Each individual who is authorized to trade in the IRA account must sign

the Agreement.

Return your completed form using any of the following methods:

If you are opening a new account, you will need to submit this form with your other new account materials. Please confirm whether each of your

forms can be sent via fax or uploaded through Secure Messaging, because not all forms are accepted using these methods. Adding features (such

as options trading) to a new account may take longer than adding them to an existing account.

Return Instructions

• Upload online with secure messaging (if you are an existing client and have online access to your account).

1. Go to Schwab.com and log in to your account.

2. Click Message Center (under Service), and then click Upload Document.

• Fax to 1-888-526-7252.

• Bring to your nearest Schwab branch (visit schwab.com/branch for locations).

• Mail to any of the following addresses:

Regular Mail (West)

Charles Schwab & Co., Inc.

P.O. Box 982600

El Paso, TX 79998-2600

Regular Mail (East)

Charles Schwab & Co., Inc.

P.O. Box 628291

Orlando, FL 32862-8291

Overnight Mail (West)

Charles Schwab & Co., Inc.

1945 Northwestern Drive

El Paso, TX 79912

Overnight Mail (East)

Charles Schwab & Co., Inc.

1958 Summit Park Dr., Ste. 200

Orlando, FL 32810

Signature: Certifying Officer

(0524-J05B) APP20247-31 (05/24)

Options Application Agreement

Page 1 of 4

Option Trading Rules

Calls.

1. Underlying stock for listed calls may have

contracts written against it in multiples of one

call option contract per hundred shares,

unless otherwise specified.

2. Securities purchased for covered call writing

must be paid for by the standard settlement

date. Proceeds from the option will be

credited to the investor's account, unless

otherwise specified.

3. All underlying securities not already held in

an account at Schwab must be delivered

FREE AND IN GOOD DELIVERABLE FORM

before covered calls may be written.

4. Covered calls may be written against

marginable securities held in an account,

provided the account is in compliance with

the Federal Reserve Board's Regulation "T"

and Schwab's Margin and Short Account

Rules.

5. Convertible or exchangeable securities may,

in some cases, be available for covered call

writing, at Schwab's discretion. Contact your

Investment Advisor or Schwab for specific

information.

Puts.

1. A short put is considered covered when it is

written against stock sold short. Listed puts

may be written against the underlying short

stock in multiples of one put contract per

hundred shares, unless otherwise specified.

Covered puts may only be written in non-IRA

accounts with margin approval.

2. A put is also covered when there is sufficient

cash to cover the stock purchase if the put

were assigned; this is known as a cash-

secured put.

3. No additional margin will be required if a put

is written against stock sold short if the

margin requirements are met on the short

stock.

Qualified Spreads.

A "spread" involves being both the buyer and

writer of the same type of options (puts or calls)

on the same underlying interest, with the options

having different exercise prices and/or

expiration dates.

The purchased option is required to expire on

the same or later expiration date than the option

sold. When there is more than one possible way

to pair available options in your Account,

Schwab has the discretion to determine spread

pairings. Schwab may pair options in a manner

that does not produce the lowest possible

margin requirements.

Straddles and Combination.

A "straddle" is an equal number of calls and puts

purchased (or written) on the same security with

the same strike price and same expiration. If the

strike prices and/or the expiration differ, the

order or position is defined as a "combination."

Writing Uncovered Options.

Before placing an order to sell uncovered

options on equities and narrow-based indexes,

$5,000 in equity must be on deposit, and before

placing an order to sell uncovered options on

broad-based indexes, $5,000 in equity must be

on deposit in your Schwab Account. In

calculating equity, the market value of any

security, bond or stock may be included and any

existing debit balance must be subtracted.

Premiums obtained from option writing will be

applied against Schwab's equity requirements.

The total equity requirement must be in the

Account prior to entering the order. Funds in

your money market portfolio or Schwab One

Account qualify as money in your brokerage

account and are considered good equity. In

addition, if you write an uncovered call option

contract and are allocated an exercise of the

option, you may be required to borrow shares in

order to satisfy the delivery requirement of the

option contract. In that event, you will be treated

as if you had sold the shares short and may be

subject to margin fees and stock loan fees.

Payment and Settlement.

Unless the amount required for an option trade

is met by one of the following methods, we may,

at our discretion, decline to accept your order.

1. Cleared funds in Account;

2. Funds in our between-investment money

market funds;

3. Making the trade versus executed market sell

orders, or on the margin loan value of

securities held in your Account in an

adequate amount.

Funds may be wired to:

Citibank, NA, New York, NY 10043

ABA #021-000-089

FBO Charles Schwab & Co., Inc.

Acct. #40553953

For the account of: (the full title on your Schwab

Account)

Account #: (your Schwab Account number)

Funds in your Schwab money market portfolio or

Schwab One Account qualify as "money in your

Schwab Account" for purposes of entering or

opening an option transaction. Deposits, interest

distributions, withdrawals and payments for

option trades (if sufficient funds are available)

are all calculated automatically if you participate

in our money market fund or Schwab One

Account. (If you would like an application for our

money market fund or Schwab One Account,

contact Schwab.)

Option Contract Assignments.

Short option contract assignments will be

allocated among position holders on an

automated random selection basis.

OCC Disclosure Document.

Before trading options, read the booklet

"Characteristics and Risks of Standardized

Options" (the "OCC Disclosure Document"). A

copy will be sent when your Account is approved

for option trading.

(0524-J05B) APP20247-31 (05/24)

Page 2 of 4Options Application Agreement

Option Equity Requirements*

Underlying

Securities

Long

Purchase

Uncovered Spread

†

Short Straddle

Equities &

Narrow-

Based

Indexes

100% of

cost,

cashup-

front

20% of the underlying security's

market value, minus any out-of-

the money amount, plus the

current option premium (marked

to the market). Minimum: The

greater of $5,000 equity, or the

option premium plus 10% of the

underlying security's market value

(option premium plus 10% of the

strike price for puts), or $100 per

contract.

100% of the long contract premium, plus:

Call Spread—The value of the difference between the

strike prices, if the exercise price of the long contract is

greater than the exercise of the short contract.

Minimum: $0 /$5,000.

‡

Put Spread—The value of the difference between the

strike prices, if the exercise price of the short contract is

greater than the exercise of the long contract. Minimum:

$0 /$5,000.

‡

The greater of the two

uncovered contract

requirements, plus the

current option premium of

the other contract (marked

to the market). Minimum:

$5,000.

Broad-

Based

Indexes

100% of

cost,

cashup-

front

15% of the underlying index,

minus any out-of-the-money

amount, plus the current option

premium (marked to the market).

Minimum: The greater of $5,000

equity, or the option premium

plus 10% of the underlying

security's market value (option

premium plus 10% of the strike

price for puts), or $100 per

contract.

100% of the long contract premium, plus:

Call Spread—The value of the difference between the

strike prices, if the exercise price of the long contract is

greater than the exercise of the short contract.

Minimum: $0 /$5,000.

‡

Put Spread—The value of the difference between the

strike prices, if the exercise price of the short contract is

greater than the exercise of the long contract. Minimum:

$0 /$5,000.

‡

The greater of the two

uncovered contract

requirements, plus the

current option premium of

the other contract (marked

to the market). Minimum:

$5,000.

*Subject to change at any time by Schwab. To protect itself, Schwab may, at its discretion and without prior notice to you, revalue securities, reset

requirements or adjust the inflated SMA (Special Memorandum Account) at any time.

†

Schwab retains complete discretion to determine how to pair options that may constitute a qualified spread. See "Qualified Spreads."

‡

IRA account initial minimum requirement for spreads is $5,000; special minimums, when applicable under select offers, supersede published minimums.

Option Agreement

Terms and Conditions.

In consideration of our accepting your orders to

trade option contracts for your Account

referenced in Section 1 of the Add Options

Trading and Margin to Your Account Application

("Account"), you agree that the following terms

and conditions apply to your Account, in

addition to the other terms and conditions

contained in the Schwab Account Agreement

applicable to your Account.

1. Risks of Option Trading.

The purchase or writing of option contracts

involves a high degree of risk and is not suitable

for all investors. By applying to add the option

trading feature to your Account, you represent

that you:

• Understand the risks inherent in option trading;

• Are financially able to withstand option trading

losses, including the loss of your entire

investment; and

• Have determined that option trading is suitable

for you, considering your financial situation and

investment objectives.

• Neither Schwab nor its officers, employees or

agents is authorized to give tax advice. You

should consult a professional tax advisor

regarding the tax effect of option transactions

in your Account.

2. Special Statement for Uncovered Option

Writers.

There are special risks associated with

uncovered option writing that expose the

investor to potentially significant loss. Therefore,

this type of strategy may not be suitable for all

investors approved for options transactions.

• Potential loss of uncovered call writing is

unlimited. The writer of an uncovered call is in

an extremely risky position and may incur large

losses if the value of the underlying instrument

increases above the exercise price.

• As with writing uncovered calls, the risk of

writing uncovered put options is substantial.

The writer of an uncovered put option may

incur large losses if the value of the underlying

instrument declines below the exercise price.

• Uncovered option writing is thus suitable only

for the knowledgeable investor who

understands the risks, has the financial

capacity and willingness to incur potentially

substantial losses, and has sufficient liquid

assets to meet applicable margin

requirements. In this regard, if the value of the

underlying instrument moves against an

uncovered writer, we may request significant

additional margin payments. If you do not make

such margin payments, we may liquidate stock

or options positions in your Account, at our

discretion without prior notice, in accordance

with your margin agreement.

• For combination writing, where the investor

writes both a put and a call on the same

underlying instrument, the potential risk is

unlimited.

• If a secondary market in options were to

become unavailable, investors could not

engage in closing transactions, and an option

writer would remain obligated until expiration

or option contract assignment.

• The writer of an American-style option is

subject to being assigned at any time until the

option expires. By contrast, the writer of a

European-style option is subject to option

contract assignment only at expiration.

NOTE: It is expected that you will read the

booklet entitled "Characteristics and Risks of

Standardized Options." Direct your attention to

the chapter entitled "Risks of Option Writers."

This Statement is not intended to enumerate all

of the risks entailed in writing uncovered

options.

(0524-J05B) APP20247-31 (05/24)

Page 3 of 4Options Application Agreement

3. OCC Disclosure Document.

When we approve your Account for option

trading, we will give you the booklet

"Characteristics and Risks of Standardized

Options," published by the Options Clearing

Corporation (the "OCC Disclosure Document").

You agree not to enter any orders for option

transactions until you have read and understood

the OCC Disclosure Document. Any information

contained in the OCC Disclosure Document,

including information regarding the federal

income tax consequences of option

transactions, is subject to change.

4. Importance of Accuracy on Your Application.

You represent that the information you've

provided on the Add Options Trading and Margin

to Your Account application is accurate. You

agree to notify Schwab if there are important

changes in the investment objectives or financial

situation you have described in your application.

5. Provision of Services.

When we approve your Account for option

trading, we will act as your broker to purchase,

sell, assign, transfer, exercise, endorse, clear or

otherwise handle puts, calls and other contracts

relating to securities, securities-related indexes

and other underlying instruments. You agree that

if you place orders for option trading in more

than one market, we may use our discretion in

selecting the market in which to enter your order

in the absence of specific instructions from you.

We may, at our discretion and without notice,

restrict or prohibit option trading or certain

types of option transactions or specific option

transactions in your Account.

Unless we otherwise agree with you in writing,

Schwab does not monitor your account(s) or

investments and has no obligation to update an

investment recommendation, financial advice, or

financial plan we may give you. Such

recommendation, financial advice, or financial

plan only applies at the point in time we provide

it to you.

6. Payment.

Option transactions are settled on the first

business day after the day your order is

executed. We may decline to accept your order

to purchase option contracts if there are not

sufficient cleared funds (that is, funds on which

no holds or other restrictions are imposed)

available in your Account to pay the purchase

price, if you do not have sufficient equity in your

Account to meet applicable margin

requirements, or for other reasons subject to our

discretion. In all cases, option transactions must

be settled on the first business day after the day

your order is executed, and it is your

responsibility to deposit necessary funds and

maintain sufficient equity in the Account.

7. Covered Option Transactions.

If you are approved for covered options and

cash-secured equity put transactions only, you

may sell call (put) option contracts when you

hold in your Account a sufficient long (short)

position in the securities underlying the

contracts; purchase call (put) option contracts

when you hold in your Account a sufficient short

(long) position in the securities underlying the

contracts; or sell put option contracts when you

hold cash in your Account equal to the aggregate

exercise value of the put contracts sold.

8. Maintenance of Required Equity and

Liquidation.

If you write option contracts, you agree to

maintain equity collateral in your Account in

accordance with the terms of the Account

Agreement. If you do not maintain enough equity

in your Account to secure your option obligations

adequately, or if you do not satisfy, in a timely

manner, any money or collateral call (relating to

settlement of a trade or otherwise), we may (but

are not required to), without prior notice, take

any action with respect to and for your Account

that we, in the reasonable exercise of our

discretion, consider necessary for our

protection. These actions may include:

• Buying or selling short;

• Hedging existing security positions;

• Risking any or all securities underlying options

purchased, endorsed or handled for your

Account; and/or

• Buying or selling for your Account any option

contract we consider necessary or appropriate.

Our failure to take any of these actions in any

particular instance will not be considered a

waiver of our right to take such actions in later

instances. You agree to reimburse us for all

expenses, fees, commissions or losses

(including taxes and transfer and other fees)

we incur as a result of such actions.

9. Short Option Positions.

If you write a call option contract, you agree to

honor all option contract assignments by

delivering to us the underlying securities in

negotiable form or cash (in the case of index

options) at the times prescribed by the securities

exchanges and/or the Financial Industry

Regulatory Authority. In the event that the call

option is uncovered, we will attempt to borrow

the securities on your behalf. If we borrow the

securities, you agree to pay any fees imposed by

us for lending you the securities. If we cannot

borrow securities, we may act as your agent to

buy in such securities at the current market

price and deliver these securities or cash to

fulfill your delivery commitment. We may

exercise our discretion regarding the timing and

manner of any such purchases. In case the

following situations occur:

• You write a call option contract in a security

that becomes subject to a reorganization

transaction (such as a tender offer or other

offer in which value is offered in exchange for

or with respect to ownership of such security);

and

• You are assigned an exercise notice on such

contract; and

• You are unable to cover your obligation to

deliver, either through delivery of the security to

us, our borrowing the security on your behalf,

or our buying in the position; then

• You agree to pay us the losses that we sustain

as a result of your failure to deliver. If you write

a put option contract, you agree to honor all

option contract assignments in a timely

manner. You agree to pay all expenses, fees,

commissions and/or losses (including taxes)

incurred as a result of the transactions

described above.

In addition, at our discretion, we will pair options

positions in the Account that constitute a spread

position. You agree to accept the matching logic

employed by Schwab to determine spread

pairings and you agree to maintain sufficient

equity in your Account to meet the equity

requirements that may result from such pairings

as determined by Schwab in its discretion.

10. Exercises.

If you exercise a long option contract, you agree

to pay the full aggregate exercise price provided

for by the option contract. We'll accept exercise

instructions for same-day execution on business

days prior to 4:00 p.m. Eastern time for index

option contracts, and prior to 5:00 p.m. Eastern

time for equity option contracts. We will accept

exercise instructions until 5:00 p.m. Eastern time

on the last trading day of expiring options. The

exercise of a put option is considered a short

sale unless you have the underlying securities in

your Account. You acknowledge that the Options

Clearing Corporation (OCC) and the national

securities exchanges have established cutoff

times for delivering exercise instructions. Your

long option contracts may expire worthless if you

do not deliver your instructions by the expiration

time noted in the OCC Disclosure Document. We

are not obligated to give you prior notice of

option expiration dates, and you will have sole

responsibility for taking action to exercise an

option contract before the option expires.

However, if you hold in your Account long equity

option contracts that are greater than or equal

to $0.01 in-the-money, and we do not receive

exercise instructions from you on the last trading

day of the option, we may, at our discretion (but

are not required to), take action.

We may place a market order to sell the long

option position at or before, in our discretion,

market close on the last trading day of the

expiring option. We may instruct the OCC not to

exercise valuable options. Or we may exercise

valuable option contracts for your Account, and

in the absence of instructions from you, new

positions we create in this way may be closed

out at the opening of the next business day.In

the case of long put options, we will only

exercise those options if we are able to lend the

securities to you for delivery, in which case you

(0524-J05B) APP20247-31 (05/24)

Page 4 of 4Options Application Agreement

may be charged a fee that may change on a daily

basis. By allowing us to exercise your put option

on the last day of trading, you agree to pay any

fees imposed for borrowing shares. An exercise

of a put option will be considered a short sale of

the underlying security. We may exercise for

cash settlement long index option contracts that

are any amount in-the-money. If you do not

notify us to exercise a valuable option contract

by the prescribed time and the right to exercise

expires, you agree to waive, and to release us

and our officers, employees and agents from,

any and all claims of damage or loss, then or at

a later time sustained, as a result of an option

contract not being exercised.

11. Option Contract Assignments.

We allocate option contract assignment notices

among customer short positions according to an

automated procedure. This procedure randomly

selects from among all customer short option

positions (including positions established on the

date of option contract assignment) those

contracts that are subject to exercise. All

American-style short option positions are liable

for option contract assignment at any time. You

acknowledge that the option contract

assignment process may result in multiple

partial option contract assignments and/or

multiple transactions to fulfill a single option

contract assignment, and a separate

commission charge will apply to each partial

option contract assignment or transaction

needed to complete an option contract

assignment.

At your request, we will furnish you with a more

detailed description of the automated option

contract assignment process.

12. Position and Exercise Limits—Rules.

You agree that you will not, acting either

individually or together with others, directly or

indirectly:

• Hold or control any number of option contracts

that exceed the position limitations, or

• Exercise a long position in any option contract

that exceeds the exercise limitations, all as set

from time to time by the exchanges or markets

where such option contracts are traded.

We may, at our discretion and without prior

notice, impose house option position limitations.

All option trading activity in your Account will be

conducted according to the constitutions, rules,

regulations and usages of the Options Clearing

Corporation, the Financial Industry Regulatory

Authority and any applicable exchange and/or

regulatory agency.

13. Account Agreement.

All option transactions will be conducted

through your Account and are subject to the

Account Agreement between you and Schwab.

As used here, "Account Agreement" means: the

terms and conditions stated in this Option

Agreement; the applicable Schwab Account

Application; the applicable Schwab Account

Agreement; the Margin and Short Account

Agreement; the Disclosure of Credit Terms and

Policies; the Money Market Fund Agreement, if

any; and any other written agreements between

you and Schwab, all as amended from time to

time.

(0524-J05B) APP20247-31 (05/24)

Certification of Trust

Page 1 of 1

• This Certification sets forth the Trustees' representations and warranties regarding their authority under the Trust.

• Please retain for your files.

By signing the Application, each Trustee

represents and warrants that Charles Schwab

& Co., Inc. ("Schwab") is authorized, as a

brokerage firm, to open and maintain the

Account on behalf of the Trust identified in this

Application (the "Trust") in accordance with the

account agreements applicable to this

Account, including without limitation the

authority to accept, hold and deliver assets

belonging to the Trust, and to accept orders

and other instructions relating to the Trust from

the Trustees. The Trustees represent, warrant

and certify that the Trust expressly grants them

the power to buy, sell (including short sales),

exchange, convert, tender, redeem and

withdraw assets (including delivery of assets to

and from the Account and delivery of assets to

a Trustee personally), and, if the Margin

Borrowing feature is not declined, to trade

securities on margin or otherwise (including the

purchase and/or sale of option contracts) for

and at the risk of the Trust and to grant

authority to a brokerage firm, acting as

principal or otherwise, to pledge, repledge,

hypothecate or rehypothecate assets of the

Trust. The Trustees agree to decline the

Margin Borrowing feature if such

authorizations for borrowing are not contained

in the Trust. Note: Additional documents are

required to add someone as a Power of

Attorney. In order to trade options in a Trust

Account through Schwab, the Trust must

meet certain financial requirements, and the

Trustee(s) must meet certain investment

experience requirements and complete a

separate Add Options Trading and Margin to

Your Account application. Clients residing in

the European Union, excluding residents of

Switzerland, are not eligible for margin. In

addition, clients residing in Europe, including

residents of the U.K., are restricted from using

their available margin loan value to withdraw

funds from their accounts.

The Trustee(s) represents, warrants and

certifies that either (1) the Trust expressly

authorizes that each Trustee, if more than one,

is authorized to act individually, independently

and without the consent of the other Trustees;

or (2) the Trustees (if more than one) have

consented to each Trustee acting individually,

independently and without the consent of the

other Trustees with respect to the Account and

that such delegation of authority is expressly

authorized by the Trust and applicable law. The

Trustees agree that any notice sent to one

Trustee will constitute notice to all Trustees.

Schwab, in its sole discretion and for its sole

protection, may require the written consent of

any or all Trustees prior to acting upon the

instructions of any Trustee.

The Trustees represent, warrant and certify

that neither they nor the Trust impose any

obligation upon Schwab for determining the

purpose or propriety (i) of any instructions

received from any Trustee or (ii) of payments or

deliveries to or among Trustees.

By signing this Application, each Trustee

further represents, warrants and certifies that

there are no other currently acting Trustee(s) of

the Trust other than those signing below.

Should only one person execute this

Application, it is a representation that the

signer is the sole current acting Trustee.

Finally, the Trustees represent, warrant and

certify that the Trust has not been revoked,

modified or amended in any manner which

would cause the representations contained in

this Certification to be incorrect. Each Trustee

agrees to notify Schwab immediately in writing

of any change that would cause this

Certification to become incorrect or

incomplete.

Each Trustee hereby, jointly and severally, in

both personal and representative capacities,

agrees to indemnify Schwab, its affiliates,

officers, directors, employees and agents from,

and to hold such persons harmless against,

any claims, judgments, surcharges, settlements

or other liabilities or costs of defense or

settlement (including investigative and

attorneys' fees) arising out of or related to any

act or omission to act by any Trustee with

respect to the Account.

The representations and obligations stated in

this Certification will survive the termination of

the Account.

(0524-J05B) APP20247-31 (05/24)

Margin Application Agreement

Page 1 of 3

Disclosure of Credit Terms and Policies

The following Disclosure of Credit Terms and

Policies is required by the Securities and

Exchange Commission and is part of your

Schwab Account Agreement. It describes the

terms under which we extend credit and charge

interest and how your obligations are secured

by property in your Schwab Account.

1. Interest Charges.

We will charge interest on a daily basis on the

credit we extend to you. The daily interest

charges are calculated by multiplying your

"daily adjusted debit balance" by the "daily

margin interest rate." Generally speaking, your

daily adjusted debit balance is the actual

settled debit balance in your Margin and Short

Account, increased by the value of securities

held short and reduced by the amount of any

settled credit balance carried in your Cash

Account.

We calculate your daily adjusted debit balance

each day by adjusting your previous day's

balance by any debits and credits to your

Account and by changes in the value of short

positions. If your daily adjusted debit balance is

reduced because you deposit a check or other

item that is later returned to us unpaid, we may

adjust your Account to reflect interest charges

you have incurred.

We reserve the right to charge interest on debit

balances in the Cash Account. Periodically, we

will send you a comprehensive statement

showing the activity in your Account, including

applicable interest charges, interest rates and

adjusted daily debit balances.

2. Daily Margin Interest Rate.

The "daily margin interest rate" is based on a

360-day year. It is calculated for each day by

dividing the applicable margin interest rate by

360. Note that the use of a 360-day year

results in a higher effective rate of interest than

if a year of 365 days were used. The applicable

margin interest rate is set at an offset from

Schwab's Base Rate according to a tiered

interest schedule based on your margin debit

balance. We set the Base Rate at our

discretion with reference to commercially

recognized interest rates, industry conditions

relating to the extension of margin credit, and

general credit market conditions. To obtain the

interest schedule, refer to your Account

Agreement, or call us toll-free at

1-800-435-4000. The current Base Rate is also

available by calling 1-877-870-7307.

Your margin interest rate will be adjusted

automatically and without notice to reflect any

change in the Base Rate. If your interest rate

increases for any reason other than a change in

the Base Rate, we will give you written notice

at least 30 days prior to that change.

3. Compounding Interest Charges.

We compound interest on a daily basis.

Interest charges will accrue to your Account

each day. We will include the charges in the

next day's opening debit balance and charge

interest accordingly. The interest rates

described in Section 2 above do not reflect

compounding of unpaid interest charges; the

effective interest rate, taking into effect such

compounding, will be higher.

4. Initial Margin Requirements.

The Federal Reserve Board and various stock

exchanges determine margin loan rules and

regulations. We will not extend credit unless

your equity in the Securities and Other Property

in your Margin and Short Account is at least

$2,000, or such greater amount as may be

required by applicable rules or regulations or

by our house policies.

The maximum amount we currently may loan

for common stock (equity) securities is 50% of

the value of marginable securities purchased in

your Margin and Short Account; different

requirements apply to nonequity securities,

such as bonds or options. If the market value of

stock held as collateral increases after you

have met the initial margin requirements, your

available credit may increase proportionately.

Conversely, if the market value decreases, your

available credit may proportionately decrease.

Initial margin requirements may change without

prior notice. We may impose anytime and

without prior notice more stringent

requirements on positions that in our sole

discretion involve higher levels of risk; for

example, higher limits may apply for thinly

traded, speculative or volatile securities, or for

concentrated positions of securities.

You may purchase only certain securities on

margin or use them as collateral in your Margin

and Short Account. Most stocks traded on

national securities exchanges, and some over-

the-counter (OTC) securities, are marginable.

At our discretion, we reserve the right not to

extend credit on any security.

If the market value of a security drops below

Schwab's per-share minimum, the margin

maintenance requirement will be 100%. Please

contact your Investment Advisor or call us at

1-877-870-7307 for Schwab's current margin

requirements.

5. Margin Maintenance Requirements.

You must maintain a minimum amount of

equity in your Account to collateralize your

outstanding loans and other obligations.

Margin maintenance requirements are set:

• By the rules and regulations of FINRA and

other regulatory agencies under whose

jurisdiction we are subject; and

• According to our sole discretion and

judgment. Margin maintenance requirements

may change without prior notice.

We may issue a "margin call" (that is, a

notification to deposit additional collateral) if

your Account equity falls below the margin

maintenance requirement. This can happen for

various reasons. The most common reason is a

decrease in the value of long securities held as

collateral or an increase in the value of

securities held short.

As a general guideline and when it is

practicable to do so, we may (but are not

required to) issue a margin call when the equity

in your Margin and Short Account falls below

Schwab's minimum maintenance requirement.

The amount of additional collateral we require

usually is an amount sufficient to raise your

equity to Schwab's minimum maintenance

requirement.

Please contact your Investment Advisor or call

us at 1-877-870-7307 for Schwab's current

margin requirements.

We retain absolute discretion to determine

whether, when and in what amounts we will

require additional collateral. In some situations,

we may find it necessary to require a higher

level of equity in your Account. For example, we

may require additional collateral if an Account

contains:

• Only one security or a large concentration of

one or more securities; or

• Low-priced, thinly traded or volatile

securities; or

• Low minimum liquidating account net worth;

or if

• Some of your collateral is or becomes

restricted or non-negotiable or non-

marginable.

We also may consider market conditions and

your financial resources.

6. Short Option Positions.

If you hold put or call option contracts deemed

by us to be uncovered, your Account is subject

to both initial margin and margin maintenance

requirements. For more detailed information on

how Schwab calculates these equity

requirements, contact us at 1-877-870-7307.

7. Day Trading Requirements.

Day trading is buying and selling the same

security on the same day, excluding:

• A long position held overnight and sold prior

to any new purchase of the same security, or

• A short position held overnight and purchased

the next day prior to any new sale of the same

security.

(0524-J05B) APP20247-31 (05/24)

Page 2 of 3Margin Application Agreement

Day traders are subject to a number of stricter

requirements. These include a minimum

deposit of $25,000 before any day trades can

be made in a margin account, and a different

calculation of margin buying power. If you have

questions about Day Trader Margin

requirements, please call your Schwab

Services Specialist or margin specialist.

8. Short Sales.

A short sale is a margin transaction subject to

initial margin and margin maintenance

requirements. In most cases, the initial equity

requirement for the short sale of an equity

security is 150% of the sales proceeds of the

security, plus commissions. Proceeds obtained

from the short sale will be applied against the

initial margin equity requirement and posted as

collateral with the lender of the securities.

Equity securities selling for $5.00 or less and

odd lots usually may not be sold short.

Different requirements apply to nonequity

securities. In addition to margin, you may be

charged fees for borrowing securities that are

delivered in connection with the short sale.

Generally, current margin maintenance rules

require you to maintain equity in your Account

equal to at least Schwab's minimum

maintenance requirement for the market value

of each stock "short" in your Account. Please

contact your Investment Advisor for Schwab's

current margin requirements. The value of

securities held short in your Account is

"marked to the market" each day.

Increases in the market value will increase your

daily adjusted debit balance (on which interest

is charged) by the same amount, while

decreases in the market value will decrease

your daily adjusted debit balance by the same

amount.

As a result of increases in your daily adjusted

debit balance, the collateral held in your

Account may become insufficient. Short sale

proceeds are part of the collateral securing our

loan of the security to you, and you may not

withdraw these proceeds from your Account.

You are liable for all dividends paid on

securities you have borrowed for the purpose

of short sales.

For our protection, we may, at our discretion

and without notice, immediately cover your

short security positions by purchasing for your

Account securities to replace those sold short.

We may cover your position because:

• The lender of the securities recalls them;

• We anticipate an inability to borrow or

reborrow these securities; or

• For any other reason.

If several Accounts hold short positions in a

security and not all of the positions are to be

covered, we may select the positions to be

covered on a random basis.

In covering a short position, we may, at our

discretion, purchase securities for your

Account. The price of covering the short

position may be higher than the price at which

you sold short; therefore, you may sustain a

loss on that transaction.

You are liable for commissions and other costs

of short sale transactions and for any debit

balance that remains after we cover orclose

out a short position.

When we borrow securities for your Account,

we are obligated to return the securities to the

lender on demand. If you are unable to cover a

short position (either through delivery of the

security or through our "buying in" your

position) in enough time for us to deliver the

security to its lender, you agree to pay us for

the losses we sustain as a result of the failure

to deliver. For instance, if you have a short

position in a security that is subject to a tender

offer and you are unable to cover the position

in time for us to deliver the security to its

lender, we may hold you responsible for the

economic value of the tender offer.

9. Liens and Liquidation.

At our election, all debit balances in your

Account, including those resulting from

extensions of margin credit, will be immediately

due and payable. In the Account Agreement,

you granted us a lien on all Securities and

Other Property held or maintained for any

purpose, including safekeeping, in your Schwab

Account or in any other present or future non-

retirement Schwab Account in which you have

an interest, regardless of whether there are

other Account Holders on any of the accounts.

This lien secures the full performance of

obligations owed to us by you or any Additional

Account Holder of your Schwab Account,

whether those obligations are incurred in

connection with your Schwab Account or any

other non-retirement account with us, and

extends to property that may not be acceptable

as margin collateral under Federal Reserve

Board regulations.

If your equity falls below the applicable

maintenance requirement, we may (but are not

obligated to) notify you by mail, telegram,

telephone, or electronic or other means of a

margin call for an amount sufficient to bring

your Account up to the equity level we require.

Margin calls require prompt delivery according

to our instructions of either additional funds or

acceptable securities. Failure to make a

required deposit may result in the liquidation of

part or all of the Securities and Other Property

in your Account.

Notwithstanding any oral communications

between you and us, we reserve the right to

liquidate anytime if the equity in your Account

falls below Schwab's minimum requirements.

You will continue to be held liable on demand

for any debit balance remaining after

liquidation of assets in your Account. It may not

be possible to notify you of a margin call or

allow any time to deposit additional collateral.

Therefore, we reserve the right to initiate

immediate liquidation procedures without

notice.

You are responsible for monitoring the status of

your Account, for ensuring that sufficient

collateral is maintained in the Account and for

liquidating positions to minimize losses. Any

action we take or do not take to issue a margin

call or liquidate collateral is undertaken solely

to protect our interest as a creditor. You agree

that we do not have any responsibility to issue

a margin call, to liquidate positions in your

Account, or to select the securities to be

liquidated or the manner or timing of the

liquidation in order to prevent or minimize

losses to you.

10. Verification.

I authorize Schwab to inquire from any source,

including a consumer reporting agency, as to

my identity (as required by federal law),

creditworthiness and ongoing eligibility for the

Account (and that of my spouse, if I live in a

community-property state) at account opening,

at any time throughout the life of the Account,

and thereafter for debt collection or

investigative purposes.

Margin and Short Account Agreement

Terms and Conditions

When you buy securities on margin, or enter

into short sales or short options, you are

borrowing money from Schwab for part of your

transactions. All securities and other assets in

your Schwab Accounts are pledged as

collateral to secure this loan. These margin

transactions are riskier and involve the

possibility of greater loss than transactions in

which you are not borrowing money. If the

value of your securities and other assets falls,

you may be required to deposit more assets (a

"margin call") to secure your loan or your

securities, and other assets may be sold to pay

down or pay off your loan without prior notice

and at a loss or at lower prices than under

other circumstances.

You agree to carefully consider your own

financial condition, tolerance for risk and

investment objectives, as well as market

conditions, before you decide to use margin

credit or short account features. By applying for

a Margin and Short Account and/or placing an

order on margin, you acknowledge that you

have carefully considered all of these factors,

along with the terms of the margin agreement,

and have decided that margin financing is

appropriate for you.

1. Payment for Transactions.

You agree that you are responsible for paying

for all transactions you make and all authorized

transactions in your Margin and Short Account.

When you purchase securities on margin, you

agree to deposit the required initial equity by

the settlement date and to maintain your equity

at the required levels. However, Schwab

reserves the right to liquidate at any time

(including on or before settlement date)

(0524-J05B) APP20247-31 (05/24)

Page 3 of 3Margin Application Agreement

depending on market conditions. In addition,

you agree to pay any debit remaining in your

Account if your positions are liquidated to

satisfy a margin call. We may extend credit to

you according to applicable laws and

regulations and our Disclosure of Credit Terms

and Policies. You agree to use this credit

primarily for business and investment

purposes.

2. Disclosure of Credit Terms and Policies.

All transactions in the Margin and Short

Account are subject to our Disclosure of Credit

Terms and Policies. You agree not to enter an

order in your Margin and Short Account until

you have read and understood the Disclosure

of Credit Terms and Policies.

3. Maintenance of Collateral.

You agree to maintain in your Margin and Short

Account collateral of the type and amount

required by:

• Applicable Exchange rules and federal

regulations,

• Our Disclosure of Credit Terms and Policies,

• Schwab, at our discretion.

4. Liquidation.

Whenever it is necessary for our protection or

to satisfy a margin call, deficiency, debit or

other obligation owed us, we may(but are not

required to) sell, assign and deliver all or any

part of the Securities and Other Property

securing your obligations, or close any or all

transactions in your Schwab Account.

It is our policy to attempt to contact you, when

practicable, before taking any action described

in this section. However, we reserve the right to

take any such action without prior notice or

demand for additional collateral, and free of

any right of redemption. Any prior demand, call

or notice will not be considered a waiver of our

right to sell or buy without demand, call or

notice.

We may choose which Securities or Other

Property to buy or sell, which transactions to

close, and the sequence and timing of

liquidation. We may take such actions on

whatever exchange or market and in whatever

manner (including public auction or private

sale) that we choose in the exercise of our

business judgment. You agree not to hold us

liable for the choice of which Securities or

Other Property to buy or sell, or of which

transactions to close, or for the timing or

manner of the liquidation.

We may transfer Securities and Other Property

from any brokerage account in which you have

an interest to any other brokerage account in

which you have an interest, regardless of

whether there are other Account Holders on

either account, if we determine that your

obligations are not adequately secured or to

satisfy a margin deficiency or other obligation.

You agree to pay on demand any account

deficiencies after liquidation, whether

liquidation is complete or partial. We are

entitled to exercise the rights described in this

section in our sole discretion, including

whenever any of the following occurs:

• The equity level in your Account falls below

required minimums;

• A petition of bankruptcy or for the

appointment of a receiver is filed by or

against you;

• An attachment is levied against any of your

brokerage accounts with us;

• You die or become incapacitated or

incompetent; or

• Your Schwab Account is closed.

5. Short Sales.

You agree to designate a sell order as a short

sale if, at the time you place the order, you

either do not own the security being sold or are

unable to deliver the security in a timely

manner. You agree that short sale transactions

are subject to certain regulatory rules and

cannot be executed under certain market

conditions. In addition, depending on market

conditions, Schwab cannot guarantee that it

will have shares available to facilitate a short

sale. Schwab may charge you a fee for

borrowing securities that may change daily.

Before you submit a short sale order, you will

be notified of the current cost of borrowing

those shares. By submitting the order, you will

have agreed to pay the charge for borrowing

the shares, as it may change on a daily basis

for as long as you hold the short position.

You agree that we may, at our discretion and

without notice, "buy in" securities to cover any

short security position in your Account at your

expense.

If you are unable to cover a short security

position (either through delivery of the security

or through our "buying-in" the security) in

enough time so we can deliver the security to

its lender (to whom we're obligated), you agree

to reimburse us for the losses we sustain as a

result of your failure to deliver the security.

6. Interest on Debit Balances.

We will charge interest on your debit balance

according to our Disclosure of Credit Terms

and Policies. We post accrued but unpaid

interest charges to your Account each month.

We compound the interest as described in our

Disclosure of Credit Terms and Policies.

7. Pledge of Securities and Other Property.

We may pledge, repledge, hypothecate or

rehypothecate, either separately or together

with Securities of other customers, all

Securities and Other Property that you, now or

in the future, carry, hold or maintain in your

Margin and Short Account. The value of the

Securities and Other Property we pledge or

repledge may be greater than the amount you

owe us, and we are not obligated to retain in

our possession and control for delivery the

same amount of similar Securities and Other

Property.

8. Loan Consent.

You agree that Securities and Other Property

held in your margin account, now or in the

future, may be borrowed (either separately or

together with the property of others) by us

(acting as principal) or by others. You agree

that Schwab may receive and retain certain

benefits (including, but not limited to, interest

on collateral posted for such loans) to which

you will not be entitled. You acknowledge that

in certain circumstances, such borrowings

could limit your ability to exercise voting rights

or receive dividends, in whole or in part, with

respect to the Securities and Other Property

lent. You understand that for Securities and

Other Property that are lent by Schwab, the

dividends paid on such Securities and Other

Property will go to the borrower. No

compensation or other reimbursements will be

due to you in connection with such borrowings.

However, if you are allocated a substitute

payment in lieu of dividends, you understand

that such a payment may not be entitled to the

same tax treatment as may have been applied

to the receipt of a dividend. You agree that

Schwab is not required to compensate you for

any differential tax treatment between

dividends and payments in lieu of dividends.

Schwab may allocate payments in lieu of

dividends by any mechanism permitted by law,

including by using a lottery allocation system.

9. Account Agreement.

All transactions in your Margin and Short

Account are subject to the Account Agreement

in its entirety and any other written agreements

between you and Schwab, all as amended from

time to time.

Independent investment advisors are not owned by, affiliated with, or supervised by Charles Schwab & Co., Inc. ("Schwab").

Margin Disclosure Statement

www.schwab.com | 1-800-435-4000 (inside the U.S.) international.schwab.com | +1-415-667-8400 (outside the U.S.)

• This is important information regarding margin borrowing, if you have requested the margin feature on your brokerage account.

• Please retain this document for your files.

• When using margin, please keep these important rules and conditions in mind.

• A complete list of terms and conditions pertaining to margin trading and short selling, including credit terms and policies, can be found in the Account

Agreement. The Account Agreement will be provided to you after account opening or you can access it at any time on our website or by calling us.

Please read this important document before opening a margin account.

• For questions regarding margin borrowing, please contact us at the numbers listed above. For clients of independent investment advisors, please call

your advisor directly or call Schwab Alliance at 1-800-515-2157.

When considering a margin loan, you should determine how the use of

margin fits your own investment philosophy. It is important that you fully

understand the risks, rules, and requirements involved in trading securities

on margin.

The following paragraphs highlight some of the critical aspects of margin

trading:

Margin trading increases your level of market risk.

Margin trading increases your buying power, allowing you to purchase a

greater amount of securities with your investing dollar. Therefore, your

exposure to market volatility increases—a declining market could result in

even greater losses. A decline in the value of your securities that you

purchase on margin can require you to provide additional funds to Schwab

in order to avoid the forced sale of those securities or other securities in

your account.

Your downside is not limited to the collateral value in your margin

account.

When you buy securities on margin, you are borrowing money from

Schwab for part of your transactions. Securities and other assets in your

Schwab account(s) are pledged as collateral to secure this loan. These

margin transactions are riskier and involve the possibility of greater loss

than transactions where you are not borrowing money. If the securities in

your account decline in value, so does the value of the collateral

supporting your loan. When the value of the collateral falls below the

maintenance margin requirements, or Schwab's higher "house"

requirements, Schwab can move to protect its position. In order to cover

margin deficiencies, Schwab may issue you a margin call—a request for

additional cash—or sell securities from your account. If a sale does not

cover the deficiency, you will be responsible for any shortfall.

Schwab may initiate the sale of any securities in your account, without

contacting you, to meet a margin call.

Schwab will attempt to involve you in the case of margin deficiency;

however, market conditions can require the firm to quickly sell any of your

securities without your consent. Because the securities are collateral for

the margin loan, Schwab has the right to decide which security to sell in

order to protect its interests. Even if Schwab has contacted you and

provided a specific date by which you can meet a margin call, the firm can

still take necessary steps to protect its financial interests, including

immediately selling the securities without prior notice to you.

Schwab's "house" initial and maintenance margin requirements may

exceed those established by the Federal Reserve Board and/or the

Financial Industry Regulatory Authority, Inc. Please call Schwab for current

margin requirements.

Schwab retains the right to change its initial margin requirements at any

time and without prior notice. We may also impose anytime and without

prior notice more stringent requirements on positions that in our sole

discretion involve higher levels of risk; for example, higher limits may apply

for thinly traded, speculative or volatile securities, or concentrated

positions of securities.

Schwab may increase its "house" maintenance margin requirements at

any time and is not required to provide you with advance written notice.

Changes in Schwab's policy regarding "house" maintenance margin

requirements often take effect immediately and can result in the issuance

of a maintenance margin call. Your failure to satisfy the call may cause

Schwab to liquidate or sell securities in your account.

Schwab retains absolute discretion to determine whether, when and in

what amounts we will require additional collateral. For example, we can

require additional collateral if an account contains only one security or a

large concentration of one or more securities; or low-priced, thinly traded

or volatile securities; or if some of your collateral is or becomes restricted

or non-negotiable or non-marginable. We may also consider market

conditions, your financial resources, or other factors deemed by us to be

relevant given the circumstances at the time.

You are not entitled to an extension of time on a margin call.

While an extension of time to meet margin requirements might be available

to customers under certain conditions, a customer does not have a right to

the extension.

Some accounts that carry a margin loan balance and hold dividend paying

securities may receive a "substitute income payment in lieu of a

dividend" (PIL). This payment may be taxable as ordinary income. Taxable

accounts that receive a PIL instead of a qualified dividend may also receive

a supplemental credit from Schwab. This will be identified on customer

statements as a "Schwab substitute income credit." However, when

Schwab can identify that a dividend is nonqualified, we will not credit your

account with this additional payment.

• This credit is NOT "payment in lieu," and is unrelated to any payment from

either the security issuer or the borrower.

• It is a discretionary credit from Schwab which may be discontinued in the

future with or without notice.*

• It may be subject to tax at your ordinary income tax rate. Please consult

your tax advisor about your specific tax situation.

• Because individual tax situations differ, Schwab cannot precisely

calculate the additional tax costs a client might incur. Therefore, we do

not intend, nor should clients expect, for this payment to be an exact

reimbursement of any excess tax cost.

*Please refer to the "Loan Consent" section of your Account Agreement

which states that no compensation is due in connection with such loans

and that Schwab "is not required to compensate you for any differential

tax treatment between dividends and payments in lieu of dividends."