PGIM S&P 500 Buffer 12 ETF – January is an actively managed, U.S.-listed defined-outcome exchange-traded fund series of PGIM Rock ETF Trust that seeks to provide returns linked to the price return of the SPDR S&P 500 ETF Trust, up to a predetermined upside cap, while buffering the first 12% of underlying SPY losses before fees and expenses over each approximately one-year January-to-December Target Outcome Period. The fund invests substantially all of its assets in customized FLexible EXchange Options on SPY and may hold affiliated short-term money-market investments and related collateral; it is designed for investors seeking capped U.S. large-cap equity participation with a defined level of downside protection during the applicable outcome period. The fund is managed by PGIM Investments LLC and PGIM Quantitative Solutions LLC, with portfolio management led by John Hall, Devang Gambhirwala and Marco Aiolfi. JANP is classified as an alternative asset-class ETF, is benchmarked to the S&P 500 Price Return Index, trades on Cboe BZX under ticker JANP, and was launched on December 29, 2023. PGIM Investments LLC is headquartered in Newark, New Jersey, United States. Recent material changes include the expiration on December 31, 2024 of a voluntary waiver on a portion of the unitary management fee, which increased total annual operating expenses after waivers or reimbursements to 0.43% for the year ended October 31, 2025 from 0.26% in the prior year; the fund also reset its annual defined-outcome strategy for the 2026 January-to-December period, with the applicable upside cap and buffer determined for the new period.