TREASURY IN TODAY’S ENVIRONMENT BUILDING BLOCKS FOR THE FUTURE

2018 NATIONAL TREASURERS CONFERENCE MAY 30–JUNE 1, 2018 | THE PRINCETON CLUB | NEW YORK, NY PRELIMINARY PROGRAM THE NATIONAL ASSOCIATION OF CORPORATE TREASURERS TREASURERS TALKING TO TREASURERS - A MEMBER-DRIVEN ORGANIZATION TABLE OF CONTENTS

3 Welcome Letter

4 2018 Conference Highlights

5 Board of Directors

6 Featured Speakers

11 Conference Agenda

12 Topics and Events

14 Networking Events

15 Registration Form

2 PRELIMINARY PROGRAM DEAR NACT COLLEAGUES

On behalf of the NACT Board of Directors, we invite you to attend the 2018 National Treasurers Conference in New York City, from May 30 – June 1, 2018. Treasurers Talking to Treasurers - a Member-Driven Organization is the value proposition that NACT provides to our members. This year’s conference theme is Treasury in Today’s Environment – Building Blocks for the Future. The program provides opportunities for experts and practitioners to network and exchange innovative ideas and best practices in candid, off-the-record settings. Our aim is to support the resilient treasurer by strengthening skills to bounce back despite economic and political uncertainties in today’s very dynamic environment. This year’s guest speakers include: • Ioana Barza, Director of Analysis, Thomson Reuters, returns by popular demand to give her review of everything related to the syndicated loan market for both investment-grade and leveraged borrowers. • Ebrahim Rahbari is a Managing Director and the Head of Global Macroeconomics within Citi Research, based in New York. Ebrahim’s mandate is to shape Citi’s views on global economic developments, major policy issues, major events, significant themes and longer-term trends, some of which include G10 monetary policy, global growth, investment, financial conditions and crises. • John Sileo is CEO of The Sileo Group of data security experts who help organizations protect the information that drives their profits. His body of work includes engagements with the Pentagon, USA Today, Visa, 60 Minutes, Homeland Security, Rachael Ray, Schwab and organizations of all sizes. Treasurers are keenly aware that no matter what they do correctly every day, one mistake that can never be allowed is to compromise the integrity of their company’s cash and its safe transfer, across borders and currencies, from where it is generated to wherever it is needed. John Sileo will make sure we keep safe. • In addition, the morning of the first day is dedicated to a closed-door, open forum with treasurers from major public corporations and privately held firms sharing their insights and experiences on topics that are relevant to you and your organization.

2018 NACT NATIONAL TREASURERS CONFERENCE 3 2018 NATIONAL TREASURERS CONFERENCE HIGHLIGHTS:

• An Open Forum discussion among treasurers ONLY • Thought-provoking sessions with industry experts and treasurers on: Cyber Insurance Supply Chain Financing Banks and Capital Markets Rating Agency Panel Global Regulatory Changes The NACT Board of Directors has been very active this year, including taking advocacy positions to benefit our profession. We will provide an update on these activities during the conference, including changes to the Dodd-Frank Act on derivatives, an update on money market fund regulations, and NACT’s leadership to develop a replacement for LIBOR and other interest rate indexes with key input from corporate treasurers. Do not miss this exceptional opportunity to attend the premier conference developed exclusively by your fellow corporate treasurers. The venue at the Princeton Club offers excellent facilities for our sessions, as well as convenience for those who wish to conduct other business while in New York. For unfettered discussions of Treasurers Talking to Treasurers, non-practitioner speakers and corporate sponsors generally are only present during their applicable sessions and sponsored events. As you review the program agenda, please provide feedback on any aspects of the sessions that you would like emphasized. And, of course, additional topics of interest are always candidly discussed during the Open Forum. We look forward to seeing you in New York!

4 PRELIMINARY PROGRAM NACT BOARD OF DIRECTORS (JULY 2017-JUNE 2018)

The NACT Board is comprised of member treasurers who are committed to advancing the profession. We welcome feedback on all relevant topics. The Board has been very proactive in fostering dialogue among political, regulatory and industry players, and has approved advocacy positions urging restraint on proposed regulations for the money market fund industry and OTC Derivatives. The NACT Chairman also represents the organization as a delegate to the meetings of the International Group of Treasury Associations (www.igta.org), a global forum comprised of the national treasury associations of approximately 30 countries. He presently serves as IGTA’s Vice Chairman and its Immediate Past Chairman.

BOARD OFFICERS BOARD MEMBERS

CHAIRMAN Nicholas Bijur Colleen O’Connor Thomas C. Deas, Jr. Vice President & Treasurer Vice President & Treasurer (2017 National Chair) Pacific Gas & Electric Corporation The Duchoissos Group, Inc. Vice President & Treasurer, FMC Corporation (Retired) J. Gregory Coffey Otis O. Otih Partner, SeatonHill Partners LLC. Global Treasury Director PRESIDENT MARS, INC. Michael R. Williams Bradley Fox Vice President & Treasurer Vice President & Treasurer Mark W. Peterson Orbital ATK, Inc. Vice President & Treasurer Allen A. Geller EXECUTIVE VICE PRESIDENT Executive Vice President & Treasurer Susan Plotzky Bjork Hupfeld Raines International, Inc. Treasurer Global Treasurer The Hershey Company Gerard A. Halpin III William M. Rigger President & Chief Executive Officer Group Assistant Treasurer SECRETARY/TREASURER Siemens Capital Company, LLC Willis Towers Watson Ruud P. Roggekamp Assistant Treasurer, Corporate Mary Dean Hall Peter L. Sereda Finance & Banking Chief Financial Officer Senior Vice President-Finance & Treasurer The Boeing Company Quaker Chemical Corporation Telephone & Data Systems, Inc. IMMEDIATE PAST CHAIRMAN Kimberly A. Hunter J. Darrell Thomas Ramon Yi Treasurer & Vice President Vice President & Treasurer Senior Director, Treasury Port of Harley-Davidson, Inc. Houston Authority Karen N. Latham Corporate Treasurer Kevin Wilson

Vice President & Treasurer Robert T. Marley Ingredion Incorporated Assistant Treasurer Enersys Ted Yerdon Vice President & Treasurer William Mekrut Steel Partners Holding LP Vice President & Treasurer FM Global

2018 NACT NATIONAL TREASURERS CONFERENCE 5 FEATURED SPEAKERS

Philip A. Baggaley asset managers, specialty finance and captive finance companies. Mr. Managing Director, Cave also advises J.P. Morgan Chase & Co., one of the largest issuers in S&P Global Ratings the global debt capital markets, on its liquidity and capital needs. Philip A. Baggaley is a managing director in Corporate Ratings. Prior to joining J.P. Morgan, Mr. Cave was a credit analyst in the He is Sector Lead for U.S. transportation, autos, and defense; and Leverage Finance division at CIT Group Inc. Mr. Cave has a B.S. coordinator for the global transportation industry team. Philip has from The Pennsylvania State University where he studied Finance addressed numerous industry conferences on airlines and railroads, and Economics. and has testified before the aviation subcommittees of the Senate and House of Representatives. He joined the company in 1985 as a transportation bond analyst, took over direction of the transportation Thomas C. Deas, Jr. team in 1990, and had management responsibility for aerospace and Vice President & Treasurer, FMC Corporation, Retired, defense ratings from 1993 to 2014, before assuming his current role. Chairman of the NACT Board of Directors Prior to joining S&P, Philip was a commercial banking officer with The Thomas C. Deas, Jr. is the current Chairman of the National Association First National Bank of Chicago and a lecturer in the Yale University of Corporate Treasurers (www.nact.org), having also served a previous History Department. He holds a B.A. in history and international term as its Chairman from 2011 through 2013. From 2001 until his relations from the University of Pennsylvania, and a Ph.D. in history from retirement in 2016, he served as Vice President and Treasurer of FMC Yale University. He is a Chartered Financial Analyst. Corporation (NYSE: FMC), with responsibility for the worldwide treasury function, including financing, treasury operations, pension investments and funding, and insurance and risk management. Prior to joining FMC, Ioana Barza he served as Vice President, Treasurer and CFO of Applied Tech Products Director of Analysis, Corp., of Airgas, Inc. (NYSE: ARG) and of Maritrans Inc. (NYSE: TUG). Prior Thomson Reuters LPC to these positions, Mr. Deas was employed for 18 years at Scott Paper Company (NYSE: SPP), where he served in various capacities in finance As a Director of Analysis at Thomson Reuters LPC, Ioana Barza writes and treasury. and presents frequently on corporate credit markets with a special focus on loan capital markets to the banking, regulatory, corporate Mr. Deas received a BS in Physics from the University of South Carolina. borrower, institutional investor, and private equity communities. In Following service as a destroyer officer in the U.S. Navy, he received an addition, Ms. Barza conducts interviews with market leaders for MBA from the Wharton School of the University of Pennsylvania. He is the Reuters Insider. past Chairman of the International Group of Treasury Associations and is a director of the University of South Carolina Educational Foundation and its Ms. Barza has been with Thomson Reuters LPC since 1999. She Investment Policy Committee. He has served as a member of the Financial provides insight and analysis related to the global credit markets and Stability Board’s Market Participants’ Group and is a current representative co-moderates roundtable discussions among leading buyside and sell- to the Federal Reserve’s Alternative Reference Rates Committee. Both side representatives focused in the U.S. on investment grade lending, these efforts are charged to recommend changes concerning how LIBOR leveraged finance, CLOs, middle market lending, and the broader and other interest rate indexes are determined. Mr. Deas is a member of European loan market. the steering committee of the Coalition for Derivatives End-Users. He is a Prior to joining Thomson Reuters LPC, Ms. Barza focused on frequent speaker at investor conferences and professional forums. environmental finance initiatives with the Environmental Protection Agency’s (EPA) Office of International Activities. She has also worked at the Overseas Private Investment Corporation (OPIC) in Washington, Jeff Diorio DC, evaluating the economic and environmental impacts of proposed Director, overseas investments. Ms. Barza has a BA in environmental sciences Treasury Strategies, a Division of Novantas, Inc. and international relations from Northwestern University and a graduate As a Director at Treasury Strategies, Jeff works with corporate treasury degree in economics from the George Washington University. departments, treasury technology vendors, as well as financial institutions across a wide variety of complex engagements in designing Brendin Cave treasury and banking solutions for today’s challenging liquidity and risk environment. Jeff has more than 30 years of experience in both Executive Director, U.S. Investment Grade Finance, financial technology as well as global treasury operations that allow J.P. Morgan him to bring a strategic focus to this leadership role. Specialties include Brendin Cave is an Executive Director in J.P. Morgan’s Investment development of solutions, system selection and implementation, Grade Finance team and joined the group in 2007. In his current role at project management, hosting/ASP/Cloud based solutions. J.P. Morgan, he provides strategic capital raising advice and execution for debt and hybrid products for North American banks, broker-dealers,

6 PRELIMINARY PROGRAM Jeff is currently a Director at Large on the board of the Treasury Cathryn R. Gregg, CCM Management Association of New York. He has been a speaker at Managing Director, the AFP National Conference, and numerous regional treasury and Treasury Strategies, a division of Novantas, Inc. bank conferences. Jeff has a BS in Mathematics from Northwestern Ms. Gregg sets the group’s strategic direction and manages senior University and is also a Certified Cash Manager. client relationships. Her guidance improves strategies and risk management operations for corporate treasury. She is highly involved Peter Frank in advancing treasury technology applications and has focused on US Leader, Financial and Treasury Management payment systems and banking evolution since founding Treasury PwC Strategies in 1982. Peter is a Principal in PwC’s Advisory line of service and leads its Ms. Gregg has been a vocal advocate for client interests in regulatory Financial & Treasury Management Practice. Mr. Frank has over matters, speaking to the U.S. Senate Banking Committee regarding 20 years experience in Finance, Treasury and Risk Management. the Volcker Rule and authoring numerous papers on the financial His expertise includes financial management, corporate finance, collapse, money fund regulations and the impact of regulatory change treasury management, enterprise risk management, working capital on U.S. liquidity markets. She has been a keynote speaker at the management and financial risk management. Federal Reserve Bank of Chicago Payments Conference, NACHA, TAWPI, the AFP National Conference, and numerous regional treasury Prior to joining PricewaterhouseCoopers, Mr. Frank spent four and bank conferences. years in the Treasury function of Chevron Corporation, where he was responsible for currency risk management, interest rate risk Ms. Gregg received her MBA from the University of Chicago following management, investment strategy, and corporate analysis of business a BA in Economics and Psychology from Kenyon College, where she development opportunities. has served on the Board of Trustees. She is a certified CCM, and has served on the advisory boards of a number of Treasury Strategies’ bank Mr. Frank has an undergraduate degree from the University of clients. She is also an avid gardener and cook. Pennsylvania and Masters degrees in Business and Engineering from the University of Michigan. John Loftus Senior Vice President, Craig D. Fraser Cyber Security & Privacy Risk Managing Director, Willis Towers Watson Fitch Ratings John is one of Willis Towers Watson’s cyber leaders with responsibility Craig Fraser is a managing director in the U.S. corporate finance group over the Northeast & Mid-Atlantic regions. In this role, he works closely at Fitch Ratings, where he leads the Industrials/Transportation team. with many of the firm’s largest clients. He focuses on combining The team covers a diverse group of sectors, including aerospace insurance and preventative risk management services to help & defense, airlines/aircraft finance, autos & auto parts, capital corporations fully address & mitigate cyber risk. As one of the firm’s goods, diversified manufacturing, engineering & construction, and cyber leaders, he routinely speaks, presents and authors papers in transportation/logistics. the space. Additionally, he was recently named a winner of Business Prior to joining Fitch in 2002, Craig was an equity research analyst/ Insurance Magazine’s annual 40 Under 40 awards, which recognizes associate at Morgan Stanley, where he worked in several groups outstanding performers positioned to become the next generation of including the global aerospace and defense team. He also previously leaders in the insurance and risk management field. worked in the corporate finance group at Bank of America. Before Prior to joining Willis, John worked as an Associate in Morgan Stanley’s entering the financial industry, Craig served as an officer in the United Private Wealth Management Group. His team managed roughly States Navy. $1 billion dollars for high-net worth individuals, foundations, and Craig holds a BS in economics from the University of Pennsylvania endowments. He began his career in 2005 as a financial analyst in (Wharton School) and an MBA in finance from Columbia University’s Goldman Sachs’s Private Wealth Management Group. Graduate School of Business. John received a BA from St. Lawrence University, where he was a two- sport athlete, earning All-American honors in lacrosse. He was named a USILA Scholar All-American as a senior. John also holds Series 7 & 66 licenses.

2018 NACT NATIONAL TREASURERS CONFERENCE 7 Laura Meade Prior to joining Moody’s, John held various positions at NASDAQ Insurance Programs Manager, and MNC Financial. John holds an M.B.A. in finance, economics and Telephone and Data Systems (TDS) international business from New York University, a B.S. in finance from Penn State University, and is a CFA charter holder. Laura Meade is the Insurance Programs Manager for Telephone and Data Systems (TDS), a telecommunications company based in Chicago, IL, and has been with the company since 2011. In her current position, her major Ebrahim Rahbari responsibilities include managing property, casualty, and executive liability Managing Director insurance programs and claims resolution enterprise-wide. Citigroup Prior to joining TDS, Laura worked at Marsh as an insurance broker Ebrahim Rahbari is a Managing Director and the Head of Global for four years, servicing global casualty and national brokerage Macroeconomics within Citi Research, based in New York. Ebrahim’s clients. Laura graduated from Illinois State University’s Katie School of mandate is to shape Citi’s views on global economic developments, Insurance in 2007 with a B.A in Insurance, Finance, and Economics, and major policy issues, major events, significant themes and longer-term earned an MBA in Risk Management from Loyola University Chicago trends, some of which include G10 monetary policy, global growth, in 2014. Laura holds her CPCU and ARM designations, and is a board investment, financial conditions and crises. Ebrahim oversees Citi’s member of the Chicagoland RIMS Chapter. flagship global economic outlook publication and is also tasked with Laura will be discussing how to maximize the value of your cyber coordinating Citi’s views on global and advanced economy economics insurance program, including: and the collaboration between Citi’s economists and strategists, as well as taking a leadership role in developing Citi Economics strategy • How to evaluate your company’s insurance coverage. for data analytics and in strengthening our relationship with external • Leverage treasury’s role to assist with breach response preparation. research partners. Prior to his current role, Ebrahim was a senior global • Outline resources available to mitigate damages post-loss. economist for Citi in New York and a Director of European and Global Economics in London, where he focused on economic developments • Questions to ask within your organization to understand and provide in the Eurozone, including the ECB and the European sovereign debt solutions to your program’s current and future state. and banking crisis, and was Citi’s lead economist for Germany (2013-15) and for Spain (in 2012). Ebrahim holds a Master’s degree and PhD in Warfield Price Economics from London Business School and a BA (Hons) in Economics and Management from Oxford University (Balliol College). Managing Director, J.P. Morgan Warfield Price leads J.P. Morgan’s FIG and Retail Leveraged Finance Grace Ries practices and is based in New York. Warfield is principally responsible Staff Vice President-Manager, for leveraged finance transactions in the Financial Services, Real Estate Cyber Risk Insurance Products Finance and Retail Sectors. In Warfield joined J.P.Morgan in 1999 FM Global and has worked in several other business areas including Leveraged Based in the corporate office, Johnston RI, Grace Ries leads the cyber Finance, Investment Banking Coverage, and Restructuring Finance. risk insurance product team to ensure FM Global delivers market Warfield joined J.P. Morgan in 1999 and graduated from Duke University leading cyber products and services that are competitive advantage with a Bachelor of Arts Degree, Magna Cum Laude in 1999 and is a CFA in this emerging market while achieving growth and profitability goals Charterholder. for the company. She joined FM Global as a consultant engineer in San Francisco Operations in 2007, then moved to Boston operations to be a special chemical risk engineer. She later worked as an account John Puchalla engineer in Boston operations, handling a book of business in the Senior Vice President, pharmaceutical, food manufacturing and aircraft manufacturing Moody’s Investors Service sectors. She then became an account manager in Chemical operations, John Puchalla is a Senior Vice President in Moody’s Corporate Finance providing global insurance services and consulting to clients in the Group. John serves as a full-time Rating Committee Chair, and leads chemical industry. She holds a Bachelor of Science degree in Chemical research on defaults and liquidity. John has covered a variety of Engineering and Materials Science Engineering from University of corporate sectors at Moody’s including consumer products, media and California, Davis. Grace is a mother to two daughters, 4 and 2. entertainment, broadcasting and cable, publishers and amusement parks. John originally joined Moody’s in 1997 as a member of the Economics Analysis group evaluating trends in global corporate credit quality and credit markets until transferring to the Corporate Finance Group in 2002.

8 PRELIMINARY PROGRAM John Sileo Jeff Tilley Chief Executive Officer, Manager, Cyber Hazards The Sileo Group FM Global John Sileo’s identity was stolen and used to embezzle $300,000 from Jeff Tilley is the manager of cyber hazards at FM Global and is based in his clients. The exposure destroyed John’s career and consumed two the company’s New York operations office in Parsippany, New Jersey. years of his life as he fought to stay out of jail. Combining real-world As the manager of the cyber hazards team, Jeff brings 15 years of experience with years of study, John became an award-winning author engineering and underwriting experience to lead the development and and leading expert on cyber security, identity theft and data privacy. delivery of FM Global’s cyber engineering solutions. John is CEO of The Sileo Group, a data security think tank that helps organizations protect the information that drives their profits. His body Jeff joined FM Global in 2003 as a consultant engineer and has worked of work includes engagements with the Pentagon, USA Today, Visa, 60 as an account engineer, account manager, and most recently as Minutes, Homeland Security, Rachael Ray, Schwab and organizations of manager of the New York operation’s account engineering department. all sizes. John graduated with honors from Harvard University He holds a Bachelor of Science degree in aerospace engineering from and spends his free time with his remarkable wife and two highly the University of Virginia. spirited daughters. Michael R. Williams Darrell Thomas Vice President and Treasurer Vice President and Treasurer, Orbital ATK Harley-Davidson Financial Services, Inc. Mr. Williams currently serves as Vice President and Treasurer of Darrell Thomas is Vice President and Treasurer for Harley-Davidson, Inc. Orbital ATK, a global leader in aerospace and defense technologies. and the Chief Financial Officer of Harley-Davidson Financial Services, With annual revenues of approximately $4.6 billion and a workforce Inc., its wholly- owned finance subsidiary. He is Chair of Harley- of 13,000 people, the company designs, builds and delivers space, Davidson’s Retirement Plans Committee and Finance Committee. He defense and aviation-related systems for customers around the joined Harley-Davidson in June 2010. globe, both as a prime contractor and merchant supplier. In his role Prior to joining Harley-Davidson, Thomas was with PepsiCo, Inc. in as Treasurer, Mr. Williams is responsible for Orbital ATK’s banking and Purchase, NY. During the almost seven years that he was at PepsiCo, capital markets activities, treasury management, risk management, he served as its Vice President and Assistant Treasurer (Jan. 2006 to derivatives, real estate and retirement plans investment activities. May 2010), and Director Capital Markets (Nov. 2003 to Jan. 2006). Prior to joining Orbital ATK in 2001, Mr. Williams served as Managing During his tenure at PepsiCo, Thomas was responsible for a $5 billion Director of Global Corporate and Investment Banking at Bank of cash investment portfolio and global debt portfolio of $25 billion and America. Mr. Williams’ career in banking spanned 23 years with Bank pension assets of $9 billion, which were spread across 6 countries. of America and other leading financial institutions. During his banking Prior to joining PepsiCo, he had fifteen years at Citicorp/Citibank where career, Mr. Williams served in numerous leadership roles related to he held various capital markets and corporate finance roles. corporate and investment banking activities. Thomas has an MBA in Finance from The Wharton School and a BA Mr. Williams received an MBA (with honors) from the University of degree in Economics from Tufts University. He has served on the Board Michigan and a BS in Business Administration from the University of of Directors of Big Brothers Big Sisters of Metro Milwaukee since 2011. Maryland. He currently serves as President of the National Association He also serves on the United Way of Greater Milwaukee’s Investment of Corporate Treasurers. Committee and he joined the Board of the National Association of Corporate Treasurers in 2017.

2018 NACT NATIONAL TREASURERS CONFERENCE 9 10 PRELIMINARY PROGRAM 2018 CONFERENCE AGENDA

WEDNESDAY, MAY 30, 2018 2:00 – 5:30 PM Conference Registration 6:30 – 8:30 PM Opening Reception 9:00 – 10:00 PM Hospitality Suite THURSDAY, MAY 31, 2018 7:30 – 5:00 PM Conference Registration Continental Breakfast 7:30 – 8:30 AM Interest Rate Index and Other Regulatory Reforms 8:30 – 12:30 PM Open Forum 10:30 – 10:45 AM Refreshment Break 12:30 – 2:15 PM Luncheon with Keynote Speaker John Sileo 2:15 – 2:30 PM Refreshment Break 2:30 – 3:45 PM Session 1 – The Ins and Outs of Cyber Insurance 3:45 – 5:00 PM Session 2 – Strategic Business Partnerships – Supply Chain Finance Programs 6:30 – 7:30 PM Cocktail Reception 7:30 – 10:00 PM Dinner and Dessert with Guest Speaker Ebrahim Rahbari 10:30 – 11:00 PM Hospitality Suite FRIDAY, JUNE 1, 2018 7:45 – 12:30 PM Conference Registration Continental Breakfast 7:45 – 8:30 AM A New Starting Line for Corporate Treasurer 8:30 – 9:30 AM Session 3 – Ratings in a Changing Environment 9:30 – 9:45 AM Refreshment Break Session 4 – Banks and Capital Markets: Raising Capital with 9:45 – 11:00 AM Change as the Baseline 11:00 – 12:00 PM Loan Market Update: How Is the Loan Market Changing 12:00 – 12:30 PM NACT Announcements and Annual Business Meeting

2018 NACT NATIONAL TREASURERS CONFERENCE 11 2018 CONFERENCE TOPICS AND EVENTS

THURSDAY, MAY 31, 2018 SESSION 1 2:30 – 3:45 PM CONTINENTAL BREAKFAST 7:30 – 8:30 AM The Ins and Outs of Cyber Insurance Interest Rate Index and Other Regulatory Reforms Moderator: Allen Geller Executive Vice President & Treasurer Raines International, Inc. Peter Frank US Leader, Financial and Treasury Management, PwC Panelists: John Loftus, Senior Vice President, Cyber Security & Privacy Tom Deas Chairman, National Association of Corporate Treasurers Willis Tower Watson Is LIBOR Really Going Away? What Else Is Happening? Grace Ries, Staff Vice President-Manager Cyber Risk Insurance Products, FM Global Tom Deas is representing U.S. treasurers on the Fed’s newly formed Alternative Reference Rates Committee. He will go over the ARRC’s efforts to Jeff Tilley, Vice President Cyber Hazard, FM Global replace LIBOR and its recommendations on specific protocols for how loans, Laura Meade, Insurance Programs Manager, Telephone Data Systems swaps, and a range of other contracts need to change. Peter Frank is a leader of PwC’s treasury advisory practice in New York and he will take us through Cyber exposure is business exposure. Protecting property including data his views on how treasurers can manage these changes across almost every today requires both broad-based cyber coverage and a comprehensive plan financial market and develop a change-over plan before LIBOR ends in 2021. for preventing or minimizing cyber risk—and the risk it poses to your business Peter will also outline other upcoming regulatory and accounting changes operations. Leading cyber property coverages require powerful risk assessment treasurers need to prepare for. and mitigation strategies. This creates a broad, 360-degree cyber strategy that goes beyond the defensive posture of coverage to proactively measure and Peter will also outline other upcoming regulatory changes, including tax reform prevent potential cyber exposure and maximize business resilience. and accounting changes, among others, that Treasurers need to prepare for. Session 2 OPEN FORUM – TREASURERS TALKING TO TREASURERS 3:45 – 5:00 PM 8:30 AM – 12:30 PM Strategic Business Partnerships – Supply Chain Finance Programs Moderators: Moderator: Allen Geller, Executive Vice President & Treasurer, Raines International, Inc. Rich Moore, Corporate Treasurer, Caterpillar Inc. Bjork Hupfeld, Global Treasurer, The Hershey Company Panelists: Don’t miss the most popular session of our conference. Share your Indirah Toovey, Executive Director, J.P. Morgan knowledge and experience, as well as ask questions and gain insights from Strategic Director Supply Chain Finance your fellow treasurers on the latest financial topics. It all takes place in a Global Trade & Loan Products, Corporate & Investment Bank candid, confidential forum under “Vegas Rules”. Douglas Schoch, VP Finance Siemens Capital Company LLC - A Siemens Financial Services Business LUNCHEON WITH KEYNOTE SPEAKER Robert Worthington, Assistant Treasurer, International Finance 12:30 – 2:15 PM FMC Corporation John Sileo, CEO of The Sileo Group, a data security think tank that helps Supply Chain Finance (SCF) programs come in various forms and structures, organizations protect the information that drives their profits. As a cyber but the key to successful implementation is broad engagement and security expert serving thousands of organizations, John’s experiences partnership between Finance and the Business. The panel will discuss have led to speaking engagements with the Pentagon, Visa, Charles various SCF structures, systems and tools available, as well as share their Schwab, Homeland Security, the FDIC, Pfizer, Million Dollar Round Table, journeys in developing and deploying successful SCF programs. the FTC, Northrop Grumman, The Hartford, the Federal Reserve Bank, the University of Massachusetts and hundreds of organizations, universities, DINNER AT THE PRINCETON CLUB WITH GUEST EBRAHIM RAHBARI and associations of all types. No matter the size of the company or technical experience of the audience, John makes sure participants are motivated and educated to change their relationship to data security.

12 PRELIMINARY PROGRAM FRIDAY, JUNE 1, 2018 Session 4 9:45 – 11:00 AM CONTINENTAL BREAKFAST 7:45 – 8:30 AM Banks and Capital Markets: Raising Capital with Change as the Baseline A New Starting Line for Corporate Treasury Moderator: Speakers: J. Darrell Thomas, Vice President & Treasurer, Harley-Davidson, Inc. Jeff Diorio, Managing Director, Treasury Strategies, a Division of Novantas, Inc. Panelists: Brendin Cave, Executive Director, J.P. Morgan, Cathryn R. Gregg, CCM, Managing Director, Treasury Strategies, U.S. Investment Grade Finance a Division of Novantas, Inc. Warfield Price, Managing Director, J.P. Morgan Jeff Diorio and Cathryn R. Gregg of Treasury Strategies will be briefing us on several key areas affecting treasury at this breakfast briefing. Michael R. Williams, Vice President & Treasurer, Orbital ATK Inc. They will be discussing the current state of block-chain and digital currencies, the impacts on organizations and what you need to be prepared Debt Capital Markets Panel for. In addition, they will be giving a briefing on the state of digital treasury transformation and initiatives they see Treasury departments focused on for For most companies – the best long term source of debt capital is the bond 2018 as part of their State of the Treasury profession briefings. market. Four experienced panelists representing investment grade and non-investment grade issuers and investment grade and non-investment Please attend as Jeff and Cathryn have vast knowledge on all areas related to grade bankers will discuss the global debt markets with a focus on the Treasury, including regulatory, market impacts, liquidity optimization, technology United States market. They will discuss the best ways to go to market, and risk mitigation. This promises to be entertaining and informative. the issuing formats (pros and cons), the considerations when going to market, and investor demands and expectations. Additionally, there will a discussion of the role of keys players including the investment banks, legal Session 3 counsel and ratings agencies. 8:30 – 9:30 Ratings in a Changing Environment Session 5 Moderator: 11:00 AM – 12:00 PM Ramon Yi, Senior Director, Treasury, Port of Houston Authority Immediate Past Chairman, NACT Loan Market Update: How Is the Loan Market Changing Panelists: Speaker: Ioana Barza, Director of Analysis, Thomson Reuters LPC Craig D. Fraser, Managing Director, Fitch Ratings How is the loan market changing? John Puchalla, Senior Vice President, Moody’s Investors Service • Market insights from the viewpoints of borrowers, lenders, and regulators Philip A. Baggaley, Managing Director, S&P Global Ratings • Will banks see loosening of Leveraged Lending Guidance? Gain insights from senior representatives of Fitch Ratings, Moody’s Investors Service, and S&P Global Ratings on how the current growth • Where is loan pricing headed? environment, tax reform, tariffs, U.S. infrastructure proposal, changes in oil • LIBOR Long-Term: Will it go away…and what would this mean? and commodity prices, rising interest rates, as well as other perceived risks in the global and political arenas may affect the credit ratings outlook for different industries.

2018 NACT NATIONAL TREASURERS CONFERENCE 13 NETWORKING EVENTS

WEDNESDAY, MAY 30, 2018 Opening Conference Reception with NACT Corporate Sponsors Enjoy this first opportunity to network with your treasurer colleagues and representatives from our valued corporate sponsor companies during a reception at the Princeton Club. Hospitality Suite Close out your first day at the conference by sharing a beer, glass of wine, or cocktail with your fellow treasurers on the Fourth Floor of the Princeton Club.

THURSDAY, MAY 31, 2018 Reception, Dinner and Dessert Start the evening with a cocktail reception at the Princeton Club followed by dinner and dessert. Relax, network and enjoy the evening with fellow treasurers! Hospitality Suite Compare notes or just unwind with your fellow treasurers on the Fourth Floor of the Princeton Club.

HOTEL INFORMATION Sofitel New York 45 West 44th Street New York, NY 10036 Phone: 212-354-8844

ROOM RESERVATIONS NACT has negotiated a special group rate of $379 (queen) and $399 (luxury king) per night at the Sofitel New York hotel. All room reservations must be made directly with the hotel (877-565-9240) by April 30, 2018. Be sure to reference the National Association of Corporate Treasurers when booking your accommodations. Rooms are reserved on a first-come, first-served basis. Reserve your room as early as possible to take advantage of the group rate.

CONFERENCE LOCATION The Princeton Club 15 West 43rd Street New York, NY 10036

14 PRELIMINARY PROGRAM NETWORKING EVENTS REGISTRATION FORM

NACT 2018 NATIONAL CONFERENCE May 30 - June 1, 2018 The Princeton Club New York, NY Registration is open to members, spouses/guests and non-member treasurers. Please print or type the CONFERENCE information requested. Your badge name and company should appear as you want them to appear on your badge. Payment in full must accompany this registration form. All cancellations must be made in REGISTRATION. writing. Written notice of cancellations received at NACT headquarters by April 30, 2018 are entitled to a full refund, less a $250.00 service charge. Registration cancellations received on or after April 30, 2018 THREE EASY WAYS are nonrefundable. Please return this form along with payment to: National Association of Corporate TO REGISTER: Treasurers, 11130 Sunrise Valley Drive, Suite 350, Reston, VA 20191. Registrations can be faxed to 703 435 4390, or submitted online. If you are paying by credit card and fax your registration, please do not 1. Online through the NACT’s website at also mail the form—this may result in double payment. www.nact.org 2. Fax registration form to: 703-435-4390 Name ______Badge Name ______3. Mail registration form to National Association of Corporate Treasurers, 11130 Sunrise Valley Title ______Drive, Suite 350, Reston, VA 20191 Company ______Registration Fees Include: All events on the agenda (breakfasts, lunch, dinner, receptions Address ______and refreshment breaks) and all conference materials. Attendees are responsible for City ______State ______Zip______making their own hotel reservations. Phone ______Fax ______Conference Attire: Dress for the entire meeting, including the social functions, Spouse/Guest ______is business casual. REGISTRATION FEES Cancellation/Refund Policy: Written notice of cancellations received at NACT headquarters Member Registration (includes all meeting sessions, materials and social functions) by April 30, 2018 are entitled to a full refund, By April 30, 2018 $1,595.00 less a $250.00 service charge. Registration After April 30, 2018 $1,695.00 Total $ ______cancellations received after April 30, 2018 are Non-Member Registration (includes all meeting sessions, materials and social functions) nonrefundable. By April 30, 2018 $1,850.00 Special Accommodations: NACT will do After April 30, 2018 $1,950.00 Total $ ______everything possible to ensure every attendee receives the full value of participating in the PAYMENT National Treasurers Conference. If you or your guest have any physical needs, dietary needs, Check enclosed for $ or require other special accommodations in Charge my registration for $ ______VISA MasterCard AMEX order to participate, please specify on the registration form. You may also call the NACT Name on card ______headquarters at 703-437-4377 or email [email protected]. Card no. ______Expiration date ______

Signature ______

EVENTS For planning purposes, please identify the events you are likely to attend and how many individuals will be attending. Opening Reception (May 30) Yes # _____ No Reception and Dinner at the Princeton Club (May 31) Yes # _____ No

2018 NACT NATIONAL TREASURERS CONFERENCE 15 NATIONAL ASSOCIATION OF CORPORATE TREASURERS 11130 Sunrise Valley Drive, Suite 350, Reston, VA 20191 Tel 703.437.4377 • Fax 703.435.4390 • www.nact.org