UP TO $350,000,000
Series A, Subseries A-1, A-2 and A-3 (Tax-Exempt Non-AMT),
Series B, Subseries B-1, B-2 and B-3 (Tax-Exempt AMT), and
Series C, Subseries C-1, C-2 and C-3 (Federally Taxable)
(Philadelphia Airport System)


Attached hereto is a copy of the Offering Memorandum dated August 9, 2019 (the “Offering Memorandum”), relating to the above-referenced Notes (the “Notes”).

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