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IMPORTANT LEGAL INFORMATION REGARDING THIS WEBSITE

Your use of this website is subject to the conditions and qualifications described below. By using this website, you agree to accept such conditions and qualifications.

PFM Asset Management LLC (“PFM”) created and maintains this website on behalf of the SNAP Program. Neither the Commonwealth of Virginia nor its Treasury Board are responsible for the information on this website.

This website is intended to provide general information on particular subjects and is not an exhaustive treatment of such subjects. Accordingly, the information on this website is not intended to constitute legal, accounting, tax, investment, or other professional advice or services. Before making any decisions or taking any action regarding the investment of bond proceeds or the payment of rebate, you should consult your bond counsel to determine the full scope of the tax laws as they apply to your bond issuance.

THE VIRGINIA SNAP PROGRAM IS AVAILABLE ONLY FOR INVESTMENT OF VIRGINIA-RELATED BOND PROCEEDS. It is the responsibility of each Participant or its bond counsel to determine whether an investment in SNAP is appropriate for such Participant.

Reservation of Rights. The Virginia State Non-Arbitrage Program, VA SNAP®, and the SNAP® logo are the property of the Commonwealth of Virginia. All other Contents (including, without limitation, the graphics, icons, and overall appearance of the PFM website and the contents) are the property of PFM. PFM does not waive any of its proprietary rights therein including, but not limited to, copyrights, trademarks and other intellectual property rights. This website and the Contents are intended only for the individual, non-commercial use of website users. No user of this website may resell, republish, print, download or copy any portion of this website or the Contents for commercial use without the prior written consent of PFM, except that reasonable copying or printing of the Contents for individual , non-commercial use is permissible where permitted by law. The availability of any Contents through this website shall under no circumstance constitute a transfer of any copyrights, trademarks or other intellectual property rights of PFM to any website user or any third party. This website and the Contents are protected by U.S. and international copyright laws, both as individual works and as a compilation. You may not delete any copyright or similar notice from any Contents you obtain from this website.

Applicable Laws. This site is operated by PFM. PFM makes no representation that Contents of the site are appropriate or available for use in other locations, and access to Contents from jurisdictions where illegal or prohibited. Those who choose to access this site do so on their own initiative and are responsible for compliance with applicable laws of their jurisdictions. The conditions and qualifications contained herein will be construed in accordance with the laws of Commonwealth of Virginia, United States of America, without regard to its conflict of law provisions.

Virginia State Non-Arbitrage Program, VA SNAP®, and the SNAP® logo are the property of the Commonwealth of Virginia.



The information herein is not an offer to sell, or to solicit an offer to purchase, any securities by anyone in any jurisdiction in which such offer or solicitation is not authorized, or in which PFM Asset Management LLC or the person making such offer is not qualified to do so, or to anyone to whom it is unlawful to make such an offer or solicitation, or to anyone in any jurisdiction outside the United States. Investors should consider the investment objectives, risks, charges and expenses before investing in the Fund. This and other information about the Fund is available in the Fund's current Prospectus, which should be read carefully before investing. Investments in SNAP Fund are offered only by means of the current Prospectus, copies of which are available online at www.vasnap.com or by sending a request to the Fund's Distributor at: Virginia SNAP c/o PFM Fund Distributors, Inc., Distributor, One Keystone Plaza, Suite 300, North Front & Market Streets, Harrisburg, PA 17101.

The SNAP Fund is a class of the Prime Series of PFM Funds. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. Although the Fund seeks to preserve the value of investments at $1.00 per share, it is possible to lose money by investing in the Fund. PFM Fund Distributors, Inc., member of the Financial Industry Regulatory Authority (FINRA) (www.finra.org), serves as the Fund's Distributor. PFM Fund Distributors, Inc. is a wholly owned subsidiary of PFM Asset Management LLC.

Important Legal Information and Disclaimers Regarding this Website.