Announcement

Updates to SOFR-indexed CRT

July 29, 2020

Today Fannie Mae and Freddie Mac ("Enterprises") posted updates to the LIBOR Transition FAQs and Playbook with additional details, including conventions, regarding Secured Overnight Financing Rate (SOFR) Credit Risk Transfer (CRT) issuances. Please visit the LIBOR Transition website to view the updates.

SOFR-indexed CRT Framework Presentation

The Enterprises have posted a SOFR-indexed CRT Framework presentation that explains the details of the SOFR-indexed CRT securities they may offer (Fannie Mae: Q1 2021, Freddie Mac: Q4 2020, both pending market readiness).

For questions, please contact the Fannie Mae Investor Help Line at 1-800-232-6643, Option 3 or by e-mail.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities of Fannie Mae. Nothing in this announcement constitutes advice on the merits of buying or selling a particular investment. Any investment decision as to any purchase of securities referred to herein must be made solely on the basis of information contained in Fannie Mae's applicable Prospectus and the Prospectus Supplement and the related legal documentation, and no reliance may be placed on the completeness or accuracy of the information contained in this announcement.

You should not deal in securities unless you understand their nature and the extent of your exposure to risk. You should be satisfied that they are suitable for you in light of your circumstances and financial position. If you are in any doubt you should consult an appropriately qualified financial advisor.