PPD Retirement Savings Plan Retirement Savings Plan ...

1 PPD Retirement Savings plan Retirement Savings plan Overview plan ID 990500107 The PPD Retirement Savings plan offers a simple and convenient way to invest in your future. This flyer provides you with an overview of the plan and its many wait until after you receive your first paycheck from PPD before attempting to enroll online. This will ensure that MassMutual, our plan provider, has all the necessary information to make your online enrollment If you are a full-time employee, you are eligible to participate in the plan on the first of the month following your date of hire. All other employees are eligible to participate in the plan on the first of the month following one Year of Service during which 1,000 Hours of Service are completed.

2 In your first year of employment, your eligibility Year of Service ends on the first anniversary of your date of hire. After your first anniversary, your eligibility Year of Service ends with each Calendar Year. The PPD plan uses monthly enrollment eligibility therefore if you enroll in the plan by the 15th of the month, your enrollment will be effective on the first paycheck of the following month. Please note, during the time you enroll in the plan , your status will remain as "Eligible" and your account online will read as pending enrollment. Once your first contribution is posted, your account will become "Active" and you will then be able to view your balances and transactions CONTRIBUTIONS Before-tax contributions (through your traditional 401(k) and after-tax contributions (through the Roth 401(k) account) are made directly from your paycheck through automatic payroll deduction: New hires, and eligible employees who earned less than $120,000 in 2017, may contribute from 1% to 50% of pay (in whole percentage increments) not to exceed the Federal limit of $18,500 for calendar year 2018.)

3 Eligible employees who earn more than $120,000 in 2017 are considered to be highly compensated employees and may contribute up to 13% for calendar year 2018. If you are age 50 or older and are contributing at the maximum deferral rate OR have reached the maximum contribution amount, you may make an additional contribution of $6,000 for calendar year 2018. New employees may roll over assets from former qualified plans at any time. Please note: If you enroll in the plan or make contribution changes by the 15th of the month, your enrollment or changes will be effective on the first check of the following note: If you enroll in the plan or make contribution changes by the 15th of the month, your enrollment or changes will be effective on the first check of the following CONTRIBUTIONS Every pay cycle, PPD contributes $ for every $ that you contribute, up to the first 6% of compensation that you elect to defer on a pre-tax basis.

4 The maximum company match amount is 3% of your elective contributions, per pay Retirement Savings plan Retirement Savings plan Overview plan ID 990500107 VESTING You are always 100% vested in your pre-tax and rollover contributions. Employer matching contributions made to your account become non-forfeitable after 4 years, according to the following schedule:WITHDRAWALSW ithdrawals are subject to plan provisions and, if made prior to age 59 , may be made subject to an additional 10% federal tax penalty. In addition, ordinary income tax will apply to any money that is withdrawn from your pre-tax account, as well as any earnings on your pre-tax withdrawals are available against pre-tax account balances for the following reasons.

5 To purchase your primary residence To pay for tuition, related educational fees, and room and board expenses for the next 12 months of post-secondary education for you, your spouse, your child, or dependent To pay the amount needed to prevent eviction from your principal residence or foreclosure on the mortgage of your principal residence To pay uninsured medical expenses for you, your spouse, your child, or dependent To pay for burial or funeral expenses for your deceased parent, spouse, child, or dependent To pay uninsured repair expenses resulting from a casualty loss to your principal residence If your hardship request is approved, you will be suspended from participating in the plan for 6 Service Once you reach age 59 , your entire vested account balance is available to you without penalty.

6 Withdrawals from rollover accounts are available at any amount available for a loan depends on plan provisions and the current value of your account, which may be worth more or less than you invested. The following Loan Rules apply to those eligible for a 401(k) loan withdrawal: The amount available is the LESSER of the following two options^: n $50,000 reduced by the highest outstanding loan balance of all plan loans during the one year period ending the day before your loan request is initiated, OR n 50% of your pre-tax contribution balances.^ Company matching contributions cannot be used for loan withdrawalsYears of Vesting Service1 Year2 Year3 Year4 YearVested percent25%50%75%100% Only one outstanding loan is permitted at any time.

7 The minimum loan amount is $1,000. The interest rate is prime rate plus 1% and interest is paid back to your own account. Loans must be repaid within a 5-year period unless the loan is being used for the purchase of your primary residence, in which case the loan must be repaid within a 10-year period. Loan repayments are deducted from payroll with each pay cycle. You may choose to repay the full amount of your outstanding loan balance at any time; however no partial repayments are decide which of the funds you d like to invest in and how much you want to INVESTMENTS Wells Fargo Stable Value Fund, CBOND FUNDS JPMorgan Core Bond Fund R6 (JCBUX) PIMCO Real Return Fund I (PRRIX) Vanguard Total Bond Market Index Fund Admiral (VBTLX)BALANCED FUNDS MFS Total Return Fund R4 (MSFJX) STOCK FUNDS MassMutual Select Mid Cap Growth Equity Fund II I (MEFZX) Vanguard Institutional Index Fund I (VINIX) American Funds Investment Company of America R6 (RICGX) MFS Growth Fund R6 (MFEKX) MFS Mid-Cap Value Fund R6 (MVCKX) JPMorgan Small Cap Equity Fund R6 (VSENX)

8 Victory Sycamore Small Company Opportunity Fund I (VSOIX) Vanguard Extended Market Index Fund Admiral (VEXAX)FOREIGN STOCK FUNDS American Funds EuroPacific Fund R6 (RERGX) Hartford International Opportunities Fund Y (HAOYX) Vanguard Total International Stock Index Fund Admiral (VTIAX)PPD Retirement Savings plan Retirement Savings plan Overview plan ID 990500107 LIFECYCLE FUNDS Fidelity Freedom Funds: Fidelity Freedom 2010 Fund (FFFCX) Fidelity Freedom 2015 Fund (FFVFX) Fidelity Freedom 2020 Fund (FFFDX) Fidelity Freedom 2025 Fund (FFTWX) Fidelity Freedom 2030 Fund (FFFEX) Fidelity Freedom 2035 Fund (FFTHX) Fidelity Freedom 2040 Fund (FFFFX) Fidelity Freedom 2045 Fund (FFFGX) Fidelity Freedom 2050 Fund (FFFHX) Fidelity Freedom 2055 Fund (FDEEX)BENEFIT PAYMENTS Upon termination from PPD, your vested account balance is payable to you.

9 Upon normal Retirement at age of 65, or upon death or total disability, your total account balance is 100% vested and payable to you or a named Summary plan Description has more details about your plan . The above information cannot change the terms or conditions of the plan . If there is a discrepancy between the Summary plan Description and this plan Highlights sheet, the Summary plan Description Retirement Savings plan Retirement Savings plan Overview plan ID 990500107RS5275 1217 PPD-PH2014-1117 C:RS-NR999 Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001. All rights reserved.