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WFCS Holdings, LLC

WFCS Holdings, LLC (the “Borrower”), a Minnesota limited liability company, the sole member of which is Wonderful Foundations (the “Borrower Representative”), an Oregon nonprofit corporation that was incorporated to be operated exclusively for charitable, scientific and education purposes, is considering issuing debt (the “Bonds”) to finance the costs of acquiring properties in Arizona, California, Florida and North Carolina that are currently, and will continue to be, operated by and leased to public charter schools. The Borrower anticipates that the Bonds would be issued through the following conduit issuers (the “Issuers”): Public Finance Authority, California Infrastructure and Economic Development Bank, and Capital Trust Agency.

The size, timing, structure, and final approvals of the issuance of the Bonds will be dependent upon market conditions, management considerations, and other factors. The Borrower and the Issuers have no obligation to complete the proposed issuance of the Bonds. Final authorization for issuing the Bonds by all the Issuers has not been approved as of this date.

Under no circumstances shall this notice constitute an offer to sell or the solicitation of an offer to purchase the Bonds. Any such offer or solicitation will only be made pursuant to a Preliminary Official Statement that prospective investors should review in full before making any investment decision. Citigroup Global Markets Inc. will serve as sole senior managing underwriter for the Bonds.