Conference Program 1 2016 Nact Fall Treasurers Conference H

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TREASURERS CONFERENCE CONFERENCE PROGRAM 1 2016 NACT FALL TREASURERS CONFERENCE H

TABLE OF CONTENTS 3 Conference Agenda 5 NACT Board of Directors 6 Moderators and Speakers 8 Corporate Sponsors H H H H H

CONFERENCE AGENDA

WEDNESDAY, NOVEMBER 16 6:30-8:30 pm Opening Networking Reception Conference Center Foyer

As you arrive in Chicago, please join us for an evening networking reception with treasurers and representatives from our valued corporate sponsor companies.

THURSDAY, NOVEMBER 17 8:00 – 8:30 am Registration and Continental Breakfast Conference Center Foyer

8:30 – 10:15 am “Vegas Rules” Open Forum Midway

MODERATOR | RUUD ROGGEKAMP Assistant Treasurer, Corporate Finance & Banking The Boeing Company

MODERATOR | PETER SEREDA Senior Vice President, Finance & Treasurer Telephone & Data Systems, Inc.

A time for treasurers to choose the topics and issues for an open and candid discussion – an important, confidential exchange that is a traditional part of every NACT conference, where the focus is always on “Treasurers Talking to Treasurers.”

10:15 – 10:30 am Morning Refreshment Break Conference Center Foyer

10:30 – 11:45 am Open Forum (Continued) Midway

11:45 – 12:00 noon Break

12:00 – 1:30 pm Lunch & Introduction to Bitcoin O’H Private Dining Room

SPEAKER | MICHAEL CASEY Senior Adviser, Digital Currency Initiative, MIT Media Lab & Co-Author of The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order

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What is Bitcoin, and does it have a future in the world of payment systems? Will Blockchain technology be used in other applications, such as supply chain management or security clearing? How are fortune 500 corporations racing to develop these technologies today, to solve real business issues? And what will treasurers have to understand in order to help their companies take advantage of these developments? To answer these and other questions, we have invited Michael Casey, a recognized expert in the field, to address our group.

1:30 – 1:45 pm Break

1:45 - 3:15 pm Presidential Election Wrap-Up Midway

SPEAKER | TOM BEVAN Co-Founder & Publisher, RealClearPolitics

The conference will be held just after the results of the election are known. How will we interpret the results? What should we expect from the next president and the next Congress? What will their priorities be? Joining us for this session will be Tom Bevan, expert political commentator, co-founder of one of the most important and influential commentary sites on the web, and the innovator behind the “RealClearPolitics Average,” which has quickly become the go-to standard as a poll aggregator in the U.S.

3:15 – 3:30 pm Afternoon Refreshment Break Conference Center Foyer

3:30 – 5:00 pm Cyber and Financial Crime Midway

SPEAKER | DONALD GOOD Director, Information Security Practice, Navigant Consulting Formerly Deputy Assistant Director of Operations with the Federal Bureau of Investigation’s Cyber Division

What are the latest developments in the world of cyber and financial crime? Who are the bad guys, and how are they changing their tactics? And what are the practical steps treasurers need to take in order to protect their corporations from cyber-crime? We have invited one of the nation’s foremost authorities to share his war stories and insights from a career in law enforcement at the highest levels.

5:00 – 5:30 pm Closing Reception O’H Private Dining Room

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NACT BOARD OF DIRECTORS (JULY 2016-JUNE 2017) The NACT Board is comprised of member treasurers and acts in the best interests of the membership. All Board members are accessible to the NACT membership and feedback is welcomed on all NACT topics. In recent months, the Board has approved two advocacy positions urging restraint on proposed regulations for the money market fund industry and OTC Derivatives, and Board Executive Committee Officers have parti- cipated on Washington task forces to further this message. The NACT Chairman also represents the organization at the Annual Conference of the International Group of Treasury Associations, a global forum to share information on issues that impact the treasury and finance professions.

CHAIRMAN Thomas C. Deas, Jr. Bradley Fox Otis Otih Vice President & Treasurer Vice President & Treasurer Global Treasury Director (Retired) Safeway Inc. Mars Incorporated FMC Corporation Allen A. Geller Mark W. Peterson PRESIDENT Executive Vice President Corporate Treasurer Joseph C. Sullivan & Treasurer Corporate Treasurer Raines International, Inc. Susan Plotzky Corporate Treasurer EXECUTIVE VICE PRESIDENT Gerard A. Halpin, III To Be Determined President & Chief William M. Rigger Executive Officer Assistant Treasurer SECRETARY/TREASURER Siemens Capital Company LLC Willis Towers Watson Ruud Roggekamp Assistant Treasurer, Corporate Bjork Hupfeld Peter L. Sereda Finance & Banking Global Treasurer Senior Vice President – The Boeing Company The Hershey Company Finance & Treasurer Telephone & Data Systems, Inc. IMMEDIATE PAST CHAIRMAN Kimberly A. Hunter Ramon Yi Treasurer & Vice President, Thomas Waters Senior Director, Treasury Investor Relations Corporate Treasurer Port Of Houston Authority Libbey Inc Michael R. Williams BOARD MEMBERS Richard Laiderman Senior Vice President Nicholas Bijur Managing Director & Treasurer Vice President & Treasurer Promontory Financial Group, Orbital ATK, Inc. Pacific Gas & Electric LLC Corporation Kevin Wilson Karen N. Latham Vice President & Treasurer J. Gregory Coffey Corporate Treasurer Ingredion Incorporated Vice President & Treasurer Sally Beauty Holdings, Inc. Robert T. Marley Ted E. Yerdon Assistant Treasurer Vice President & Treasurer Donald Cook Enersys Steel Partners Holding LP Vice President & Treasurer Hanesbrands Inc. Colleen O’Connor Vice President & Treasurer The Chamberlain Group, Inc.

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MODERATORS & SPEAKERS

TOM BEVAN Co-Founder & Publisher, RealClear Politics

Tom Bevan is the co-founder and publisher of RealClearPolitics. In addition to overseeing the editorial staff and writing regular features for RCP, Tom’s work has appeared in numerous publications and he is featured frequently as a political analyst on Fox News, CNN, MSNBC, and the BBC.

Tom hosts a weekly radio show on politics on 89 WLS in Chicago and co-hosts RealClearPolitics on SiriusXM’s POTUS channel. He is also the co-author of two eBooks on the 2012 election: The Battle Begins and A Time for Choosing.

MICHAEL CASEY Senior Adviser, Digital Currency Initiative, MIT Media Lab

Michael Casey is a Senior Advisor for the Digital Currency Initiative at MIT’s Media Lab. A writer and researcher in the fields of economics, finance and digital-currency technology, most of Casey’s career was spent as a journalist. That includes 18 years at the Wall Street Journal, where he was a senior columnist covering global economics and markets and where he and colleague Paul Vigna launched the influential BitBeat column on digital currency trends. In the summer of 2015, Casey left the Journal to to join MIT. He is the author of four books, including The Age of Cryptocurrency, which he co-authored with Vigna, and The Social Organism: A Radical Understanding of Social Media to Transform Your Business and Life, which he wrote with Oliver Luckett and will be published two days before the NACT conference.

DONALD GOOD Director, Information Security Practice, Navigant Consulting

Donald (Don) Good is a Director in the Global Legal Technology Solutions, Information Security sub-practice. Don has an extensive cyber security background, having held a number of positions in the government and private sector. Prior to joining Navigant, Don was with the FBI for over 20 years where he held several executive leadership positions. Most recently, Don was the Deputy Assistant Director of the FBI’s Cyber Division where he was responsible for the National Cyber Investigative Joint Task Force, global cyber intelligence, investigative matters, and engagement with the private and public sectors as well as the United States Intelligence Community.

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RUUD P. ROGGKAMP Assistant Treasurer, Corporate Finance & Banking, The Boeing Company

Ruud Roggekamp is Assistant Treasurer for The Boeing Company. In this role, Ruud is responsible for capital structure strategy, debt and equity funding, dividend policy, board communications, Financial Assurance/Letters of Credit, investment and commercial banking relationships, rating agency relationships, fixed income investor relations, corporate and intercompany guarantees, business unit financings and Treasury financial planning & analysis.

Ruud, a chartered financial analyst (CFA), has a Masters Degree in Aeronautical Engineering from Delft University of Technology and an MBA from the Erasmus Rotterdam School of Management/Northwestern’s Kellogg School. Ruud, his wife Deanne and three children live in the Chicago area.

PETER L. SEREDA Senior Vice President – Finance & Treasurer, Telephone and Data Systems, Inc.

Peter L. Sereda is senior vice president – finance and treasurer of Telephone and Data Systems, Inc. [NYSE: TDS], a diversified telecom- munications corporation headquartered in Chicago. He is responsible for long- and short-term financing, stock repurchase, equity capital markets transactions, cash management, short term investments, commercial and investment banking relationships, risk management and pension/401K management. Sereda joined TDS in 1998 as vice president and treasurer.

Prior to joining TDS, Sereda was vice president of finance operations, and vice president and treasurer, for Specialty Foods Corporation. Previously, he was treasurer of Duchossois Industries, Inc.

Sereda is a member of the National Association of Corporate Treasurers; Chi Epsilon, the national civil engineering honor society; Tau Beta Pi, the national engineering honor society; and Beta Gamma Sigma, the international business honor society.

Sereda received an MBA in finance and statistics from the University of Chicago Graduate School of Business, and a BS in civil engineering and economics from the Massachusetts Institute of Technology.

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CORPORATE SPONSORS

The National Association of Corporate Treasurers gratefully acknowledges the following companies for providing corporate support to assist us in achieving greater education and communication among our members:

BANK OF AMERICA Bank of America is one of the world’s largest financial institutions, serving large corporations, small- and mid- dle-market businesses and individual consumers in more than 150 countries with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America Merrill Lynch is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. The company provides, through various banking and broker-dealer affiliates, M&A advice, equity and debt capital raising solutions, lending, risk management, treasury, liquidity, and payments management. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange. For additional information regarding Bank of America Merrill Lynch, please see www.bankofamerica.com/disclaimer.

CAMBRIDGE GLOBAL PAYMENTS Cambridge Global Payments is a leading provider of integrated cross-border payment services and risk management solutions. As a trusted partner for over 20 years, Cambridge delivers innovative solutions designed to mitigate foreign exchange exposure and address unique business needs. Learn more about our award-winning capabilities and industry-leading technologies at cambridgefx.com.

CHATHAM FINANCIAL Chatham Financial is an advisory and technology company that helps a wide range of global companies manage risks associated with interest rate, foreign currency, and commodities. Whether a corporation is looking to start hedging, seeking to optimize an established hedging program, concerned about Dodd-Frank or EMIR regulation, or hedge accounting, Chatham Financial has the unsurpassed expertise, comprehensive services, and industry-driven technologies to overcome risk-related challenges of any size and scope. Boards, CFOs, and Treasurers around the world rely on Chatham’s independent perspective and deep financial risk management expertise to help them gain a strategic advantage. Our high client satisfaction and loyalty reflect the measurable time and cost savings we deliver through best-in-class systems and process as well as superior customer support.

8 2016 NACT FALL TREASURERS CONFERENCE DUPONT CAPITAL MANAGEMENT DuPont Capital was established in 1993 to provide investment management services through the efforts of a highly educated and innovative team using a long-term value focus. Today, we retain that investment-centric, client-focused culture with over $27 billion in assets under management as of March 31, 2016. Our broad array of investment helps us address a wide variety of client investment needs.

FITCH RATINGS Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, we offer perspective and insights on the global credit markets covering a broad range of short-term sectors, topics and securities, including regulation, money market funds, commercial paper, repos, and counterparty risk, as well as economic and industry outlooks. The additional context, perspective and insights we provide help investors to make important credit judgments with confidence.

Fitch Group is a global leader in financial information services with operations in more than 30 countries. In addition to Fitch Ratings, the group includes Fitch Solutions, Fitch Learning, and BMI Research. Fitch Group is majority-owned by Hearst Corporation.

Visit info.fitchratings.com/shortterm to see the latest research and commentary impacting this segment of the market. And visit fitchratings.com to learn more about Fitch Ratings.

GOLDMAN SACHS The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

J.P. MORGAN J.P. Morgan is a global leader in asset and wealth management services. The Asset Management line of business serves institutional, ultra-high net worth, high net worth and individual clients through its Global Investment Management and Global Wealth Management businesses. With client assets of $2.3 trillion and assets under management of $1.7 trillion, we are one of the largest asset and wealth managers in the world. (Assets as of March 31, 2016)

J.P. Morgan Global Institutional Asset Management is a global leader in investment management, dedicated to creating a strategic advantage for institutions by connecting clients with J.P. Morgan investment professionals globally. The firm seeks to deliver first-class investment results to some of the world’s

9 most sophisticated organizations, including corporate pension plans, endowments, foundations, insurance companies, sovereign wealth funds and government-affiliated institutions.

J.P. Morgan Global Institutional is distinguished by its capital markets knowledge, global investment expertise and the long-term, proactive partnerships it establishes with clients. Our investment strategies span equity, fixed income, real estate, private equity, hedge funds, infrastructure and asset allocation.

MOODY’S INVESTORS SERVICE Moody’s Investors Service is a leading provider of credit ratings, research, and risk analysis. Moody’s commitment and expertise contributes to transparent and integrated financial markets, and the firm’s ratings and analysis track debt covering approximately 120 sovereign nations, 11,000 corporate issuers, 21,000 public finance issuers, and 72,000 structured finance obligations.

MITSUBISHI UFJ FINANCIAL GROUP Mitsubishi UFJ Financial Group (MUFG) is one of the world’s leading financial groups with total assets of approximately $2.6 trillion*. MUFG is headquartered in Tokyo and has a global network that includes 2,200 offices in approximately 50 countries. With over 140,000 employees, MUFG provides access to commercial banking, trust banking, securities, credit cards, consumer banking and finance, asset management, leasing, and other services.

MUFG Securities offers a comprehensive product suite to clients around the world through five key business lines in the primary and secondary markets: capital markets, credit, rates, equities, and structured products. * Exchange rate of USD 1 = ¥112.68 (J_GAAP) as of March 31st, 2016.

PIMCO PIMCO is a leading global investment management firm. Founded in 1971, PIMCO offers a wide range of innovative solutions to help millions of investors worldwide meet their needs. Our treasury cash management strategies seek to provide principal preservation, liquidity and consis- tent income by investing in a broad range of money market and other short maturity fixed income securities. These strategies benefit from unique economic forecasting, close monitoring of the Federal Reserve and fixed income expertise. PIMCO’s goal is to provide attractive returns while maintaining a strong culture of risk management and long-term discipline.

S&P GLOBAL RATINGS S&P Global Ratings, a division of S&P Global Inc. (NYSE: SPGI), is the world’s leading provider of credit ratings. With more than 1 million credit ratings outstanding, approximately 1,400 credit analysts and a presence in 26 countries, we offer a unique combination of global coverage and local insight. Learn more at spglobal.com/ratings.

10 2016 NACT FALL TREASURERS CONFERENCE WILLIS TOWERS WATSON Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 39,000 employees in more than 120 countries.

We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance.

Together, we unlock potential.

TREASURY STRATEGIES Treasury Strategies, Inc. is the leading advisory firm in the corporate treasury management space. Our experience and thought leadership in working capital management, liquidity and payments, combined with our comprehensive view of commercial banking, reward you with actionable solutions and unparalleled insights.

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NATIONAL ASSOCIATION OF CORPORATE TREASURERS 12100 Sunset Hills Rd., Suite 130, Reston, VA 20190 Tel 703.437.4377 • Fax 703.435.4390 • www.nact.org