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<p class="MsoNormal"><span style="font-size:11.0pt">For those of you who, like me, received a ballot from Teachers Insurance and Annuity Association of American (TIAA), a recommendation for how to vote follows below. The recommendation comes from TIAA Divest,
a committee within Third Act’s Educators Working Group (an activist organization for senior citizens). It is part of their efforts to leverage large investors to move away from investing in fossil fuels.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">My apologies to those of you who do not have retirement accounts with TIAA, especially those of you who live in other countries. But, perhaps you have investments in other companies with similar opportunities
to exert leverage in this direction. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:11.0pt;color:#212121">TIAA clients are now receiving materials for the “2023 TIAA Election.” The candidates are vying for seats on the Board of Trustees. </span><span style="color:#212121"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="color:#212121"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:11.0pt;color:#212121">All candidates are
<i>already</i> members of the Board of Trustees. All were selected by the Board of Governors, who themselves actually elect the trustees and who only “seek your participation as a TIAA participant.” None of the candidates is a scientist or educator; none has
provided any evidence of concern with the climate crisis or with changing TIAA’s destructive investment practices. </span><span style="color:#212121"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:11.0pt;color:#212121"> </span><span style="color:#212121"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><b><span style="font-size:11.0pt;color:#212121">TIAA-Divest therefore encourages all clients to vote “AGAINST” the entire slate of Trustees</span></b><span style="font-size:11.0pt;color:#212121">. Since the Governors
intend for this election to inform them of “participants’ views,” this is the way for you to register your deep discontentment with their $78 billion investment in fossil fuel holdings and their land grabs from Oregon to Brazil that are destroying communities
and the environment. </span><span style="color:#212121"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:11.0pt;color:#212121"> </span><span style="color:#212121"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><b><span style="font-size:11.0pt;color:#212121">We also encourage you to vote “NO” on question #2,</span></b><span style="font-size:11.0pt;color:#212121"> the “Advisory Vote on TIAA's Executive Compensation.” TIAA
Governors receive more than $300,000 per year in compensation, a figure grossly out of keeping with board-service norms.</span><span style="color:#212121"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:11.0pt;color:#212121"> </span><span style="color:#212121"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:11.0pt"><o:p></o:p></span></p>
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