Independent Registered Municipal Advisor Exemption

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The Burbank-Glendale-Pasadena Airport Authority (the “Issuer”) is posting this information with the intent that market participants may provide advice to us regarding municipal financial products and the issuance of municipal securities and utilize the independent registered municipal advisor exemption from the municipal advisor definition in Securities and Exchange Commission rules

The Issuer is currently represented by, and will rely on the advice of (in the sense that it will seek and consider the advice, analysis and perspective of, before making a determination), Public Resources Advisory Group, in considering information (other than general information that does not involve a recommendation) that you provide to us regarding municipal financial products and the issuance of municipal securities.

The Issuer made inquiry and was informed that there are Associated Individuals that are current employees of Public Resources Advisory Group who were employed within the past two years by a broker-dealer firm in the capacity of an Associated Individual. Public Resources Advisory Group has advised us that such Associated Individuals will not be participating in any matter that involves municipal advisory activity for the Issuer in which the broker-dealer firm is involved in any role as a transaction participant firm during the applicable two-year period.