Power System Investors

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Water System Investors

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Information Dated; Forward Looking Statements. The information and documents posted from time to time on this website set forth certain financial and other information regarding the Department of Water and Power of the City of Los Angeles (“LADWP”) and the City of Los Angeles (“City”), including, but not limited to, information provided to satisfy LADWP’s continuing disclosure undertakings. The information and documents posted on this website are for informational purposes only, and investors and/or other interested parties should not rely on such information or documents as their sole source of information about matters related to LADWP, the Water System, the Power System and/or LADWP's outstanding bonds or other indebtedness. The information on this website has been compiled from sources believed to be reliable, certain of which have not been independently verified.

The information and documents on this website are current as of their date and do not imply that there has been no change in any other information concerning LADWP, the Water System or the Power System that may have a bearing on the security for LADWP's outstanding bonds or other indebtedness or an investor's decision to buy, sell, or hold LADWP 's outstanding bonds or other indebtedness. Any information provided on this website is not warranted as to completeness or accuracy and are subject to change without notice. The information on this website speaks only as of its date.

The information and documents on this website may contain "forward-looking" statements, including statements regarding, among other things, internal forecast and planning models, anticipated trends in LADWP's business, and LADWP's future capital requirements and capital resources. These "forward-looking" statements are based on, among other things, LADWP’s expectations and are subject to a number of risks and uncertainties, certain of which are beyond LADWP's control. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the actual results may differ materially from those expressed or implied by such "forward-looking" statements. In light of these risks and uncertainties, there can be no assurance that events anticipated by such "forward-looking" statements contained in the information and documents included on this website will in fact transpire. All such "forward-looking" statements, other than the statements of historical fact, should not be considered a comprehensive representation of LADWP's expected operational or financial performance. All opinions, estimates, projections, forecasts and valuations are preliminary, indicative and are subject to change without notice. None of LADWP’s outside consultants, including its independent certified public accountants have examined, compiled or otherwise applied procedures to such forward-looking statements or forecasts which may be presented in any public records and, accordingly, do not express an opinion or any other form of assurance on any such forward-looking statements or forecasts.

Continuing Disclosure. LADWP has prepared certain of the information and documents posted on this website to comply with its continuing disclosure obligations under Rule 15c2-12, as amended, promulgated by the United States Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended. The information and documents filed by LADWP in compliance with its respective continuing disclosure obligations also are available, without charge, from the Municipal Securities Rulemaking Board through its Electronic Municipal Market Access (“EMMA”) system (accessible at www.emma.msrb.org). Because of limitations inherent in the electronic transmission of documents, the appearance (but not the content) of such continuing disclosure documents on this website may differ from the version thereof accessible through EMMA.

Not an Offer to Buy Securities. Neither the information and documents provided on this website nor the website itself should be construed as, an offer, invitation or recommendation in respect of LADWP’s outstanding bonds or other indebtedness, or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy any security or other financial instrument in any jurisdiction or to adopt any investment strategy. Neither the information and documents provided on this website nor the website itself shall form the basis of any contract or commitment. In no event shall LADWP be liable for any use by any party of, for any decision made or action taken by any party in reliance upon, or for any inaccuracies or errors in, or omissions from, the information contained herein and such information may not be relied upon by investors in evaluating the merits of holding, purchasing or setting any outstanding bonds or other indebtedness. The information contained on this website, including any forecast financial information, should not be considered as advice or a recommendation to investors in relation to holding, purchasing or selling LADWP's outstanding bonds or other indebtedness. Before acting on any information investors should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, investors should seek independent financial advice.

Acknowledgement. By accessing this website and the information and documents posted hereon, each viewer expressly accepts and acknowledges the content, cautionary statements and disclaimers described above on this disclaimer page.