Core Points - Fannie Mae announced the results of its fixed-price cash tender offers for certain Connecticut Avenue Securities (CAS) Notes [1] - A total of $2,000 million in original principal amount of Notes were validly tendered by the expiration time of October 3, 2025 [2] Summary by Category Tender Offer Details - The Offers were conducted for specific CAS Notes as outlined in the Offer Documents dated September 29, 2025 [1] - The settlement date for the accepted Notes is expected to be October 7, 2025, with additional purchases for those using the Notice of Guaranteed Delivery on October 8, 2025 [6] Tendered Notes Information - The total original principal amount tendered includes $27,281,728 of Notes tendered using the Notice of Guaranteed Delivery [5] - The aggregate original principal amount of Notes tendered was $2,250,877,000, representing 88.87% of the total [4] Specific Notes Performance - Connecticut Avenue Securities, Series 2017-C03, Class 1B-1 Notes had a 100% tender rate with an original principal balance of $26,045,000 [3] - Connecticut Avenue Securities, Series 2017-C06, Class 2B-1 Notes had a tender rate of 1.01%, with $195,000 tendered from an original balance of $19,316,000 [3] - Connecticut Avenue Securities, Series 2021-R02, Class 2M-2 Notes had a tender rate of 81.03%, with $351,667,668 tendered from an original balance of $434,007,000 [4]

Core Viewpoint - Fannie Mae has initiated fixed-price cash tender offers for the purchase of Connecticut Avenue Securities (CAS) Notes, with the offers set to expire on October 3, 2025, unless extended or terminated [1][2]. Summary by Sections Tender Offer Details - Fannie Mae is offering to purchase all listed CAS Notes, with BofA Securities and Wells Fargo Securities acting as dealer managers [2]. - The total original principal amount of the applicable classes of Notes is approximately $2.25 billion [5]. Pricing Terms - The table provided outlines the specific CAS Notes being offered, including their original principal balances and the consideration per $1,000 original principal amount: - Series 2017-C03, Class 1B-1: $26,045,000 at $1,063.13 - Series 2017-C06, Class 2B-1: $19,316,000 at $1,067.81 - Series 2017-C07, Class 1B-1: $27,201,000 at $1,068.44 - Series 2018-C04, Class 2B-1: $17,000,000 at $1,096.41 - Series 2018-C06, Class 2B-1: $25,087,000 at $1,091.88 - Series 2020-SBT1, Class 2M-2: $316,415,000 at $1,040.94 - Series 2021-R02, Class 2M-2: $283,566,000 at $1,011.72 - Series 2022-R01, Class 1M: $434,007,000 at $1,013.59 - Series 2022-R06, Class 1M: $332,500,000 at $1,023.28 - Series 2022-R07, Class 1M: $391,813,000 at $1,025.78 - Series 2022-R08, Class 1M: $377,927,000 at $1,025.47 [3][4]. Tender Process - Holders must tender their Notes by the expiration time to receive the Tender Offer Consideration, which includes accrued and unpaid interest up to the Settlement Date, expected on October 7, 2025 [6]. - Notes tendered via the Notice of Guaranteed Delivery will be purchased on October 8, 2025, with interest payments made only up to the Settlement Date [6]. Contact Information - For further inquiries, holders can contact Global Bondholder Services Corporation or the designated dealer managers [7].