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TABLE OF CONTENTS Page Consolidated Results Selected Financial Data 1 Condensed Consolidated Statement of Income 2 Condensed Consolidated Balance Sheets 3 Average Balance of Assets & Liabilities and Annualized Yields 4 Credit-Related Information 5 Regulatory Capital 6 Business Segment Results Single-Family 7 Multifamily 11 © 2025 Fannie Mae Some of the terms and other information in this presentation are defined and discussed more fully in Fannie Mae’s Form 10-Q for the quarter ended September 30, 2025 (“Q3 2025 Form 10-Q”) and Form 10-K for the year ended December 31, 2024 (“2024 Form 10-K”). This presentation should be reviewed together with the Q3 2025 Form 10-Q and the 2024 Form 10-K, which are available at www.fanniemae.com in the “About Us—Investor Relations—SEC Filings” section. Information on or available through the company's website is not part of this supplement. Some of the information in this presentation is based upon information from third-party sources such as sellers and servicers of mortgage loans. Although Fannie Mae generally considers this information reliable, Fannie Mae does not independently verify all reported information. Due to rounding, amounts reported in this presentation may not sum to totals indicated (i.e., 100%), or amounts shown as 100% may not reflect the entire population. Unless otherwise indicated, data is as of September 30, 2025 or for the third quarter of 2025. Data for prior years is as of December 31 or for the full year indicated.

Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2025 Q3 2024 $7,184 $7,155 $7,001 $7,182 $7,275 $29 $(91) 123 86 84 115 66 37 57 7,307 7,241 7,085 7,297 7,341 66 (34) (338) (946) (24) (321) 27 608 (365) 13 211 123 842 52 (198) (39) (1) (8) 0 (10) 12 7 (13) (2,146) (2,344) (2,600) (2,629) (2,379) 198 233 4,835 4,154 4,584 5,179 5,053 681 (218) (976) (837) (923) (1,049) (1,009) (139) 33 $3,859 $3,317 $3,661 $4,130 $4,044 $542 $(185) $3,849 $3,324 $3,655 $4,127 $4,047 $525 $(198) $12,155 $12,304 $13,401 $13,477 $13,421 $(149) $(1,266) 61,525 63,878 71,495 56,250 56,915 (2,353) 4,610 71,656 77,430 79,347 79,197 61,790 (5,774) 9,866 4,131,636 4,128,378 4,134,708 4,145,713 4,146,314 3,258 (14,678) (8,246) (8,247) (7,532) (7,707) (7,656) 1 (590) $4,335,856 $4,338,227 $4,353,709 $4,349,731 $4,334,556 $(2,371) $1,300 126,390 128,316 136,818 139,422 121,715 (1,926) 4,675 4,076,945 4,082,196 4,091,840 4,088,675 4,096,063 (5,251) (19,118) $4,230,371 $4,236,591 $4,255,397 $4,255,074 $4,244,026 $(6,220) $(13,655) $105,485 $101,636 $98,312 $94,657 $90,530 $3,849 $14,955 $105,485 $101,636 $98,312 $94,657 $90,530 $3,849 $14,955 2.4 % 2.3 % 2.3 % 2.2 % 2.1 % 0.36 % 0.31 % 0.34 % 0.38 % 0.37 % 29.3 % 31.5 % 36.1 % 32.3 % 32.1 % 20.2 % 20.1 % 20.1 % 20.3 % 20.0 % (a) (b) (c) (d) Effective income tax rate © 2025 Fannie Mae Return on assets (c) Net worth ratio (b) OTHER METRICS Net worth Efficiency ratio (d) Calculated by dividing annualized net income for the reporting period by the average total assets during the same period, expressed as a percentage. For ratio calculations, average balances are determined using the beginning and ending balances of the quarter, where the beginning balance represents the quarter-end balance of the period immediately preceding the current reporting period. Efficiency ratio is calculated as non-interest expense divided by the sum of net interest income and non-interest income. As presented in this slide, non-interest income consists of the sum of “Fee and other income,” “Investment gains (losses), net” and “Fair value gains (losses), net.” Consists of salaries and employee benefits, professional services, technology and occupancy expense, legislative assessments, credit enhancement expense and other expense, net. Calculated based on net worth divided by total assets outstanding at the end of the period. Allowance for loan losses Total assets Debt of Fannie Mae Total Fannie Mae stockholders’ equity Total liabilities Debt of Consolidated Trusts Investments in securities, at fair value Securities purchased under agreements to resell SELECTED BALANCE SHEET DATA (period-end) Cash Mortgage loans held for investment and held for sale Investment gains (losses), net Non-interest expense (a) Income before federal income taxes Total comprehensive income Net income Provision for federal income taxes (Provision) benefit for credit losses Net revenues Net interest income Fee and other income Fair value gains (losses), net FANNIE MAE SELECTED FINANCIAL DATA ($ in millions, except per share and ratio data) SELECTED INCOME STATEMENT DATA QUARTERLY DATA Q3 2025 Variance vs. 1

Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2025 Q3 2024 $38,344 $37,693 $37,399 $36,929 $36,390 $651 $1,954 844 $924 $872 $857 1,057 (80) (213) 789 $794 $745 $695 565 (5) 224 39,977 39,411 39,016 38,481 38,012 566 1,965 (154) (103) (105) (133) (137) (51) (17) (32,639) (32,153) (31,910) (31,166) (30,600) (486) (2,039) (32,793) (32,256) (32,015) (31,299) (30,737) (537) (2,056) 7,184 7,155 7,001 7,182 7,275 29 (91) (338) (946) (24) (321) 27 608 (365) 6,846 6,209 6,977 6,861 7,302 637 (456) 13 211 123 842 52 (198) (39) 123 86 84 115 66 37 57 (1) (8) 0 (10) 12 7 (13) 135 289 207 947 130 (154) 5 (475) (492) (611) (497) (500) 17 25 (344) (355) (381) (450) (384) 11 40 (943) (939) (931) (949) (948) (4) 5 (409) (400) (479) (406) (411) (9) 2 25 (158) (198) (327) (136) 183 161 (2,146) (2,344) (2,600) (2,629) (2,379) 198 233 4,835 4,154 4,584 5,179 5,053 681 (218) (976) (837) (923) (1,049) (1,009) (139) 33 3,859 3,317 3,661 4,130 4,044 542 (185) (10) 7 (6) (3) 3 (17) (13) $3,849 $3,324 $3,655 $4,127 $4,047 $525 $(198) 3,859 3,317 3,661 4,130 4,044 542 (185) (3,849) (3,324) (3,655) (4,127) (4,047) (525) 198 $10 $(7) $6 $3 $(3) $17 $13 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5,867 5,867 5,867 5,867 5,867 0 0 5,893 5,867 5,893 5,893 5,867 26 26 (a) Basic Average shares: Diluted © 2025 Fannie Mae See Notes to Condensed Consolidated Financial Statements in the Third Quarter 2025 Form 10-Q Includes interest income from cash. Net income (loss) attributable to common stockholders EARNINGS PER SHARE DATA Net income: Diluted Basic Net income Provision for federal income taxes Other comprehensive income (loss) Total comprehensive income Dividends distributed or amounts attributable to senior preferred stock Net income Legislative assesments Professional services, technology, and occupancy Credit enhancement expense Other income (expense), net Income before federal income taxes Non-interest expense Fee and other income Fair value gains (losses), net Investment gains (losses), net Non-interest income Salaries and employee benefits Non-interest expense: Long-term debt Short-term debt Total interest expense Net interest income Net interest income after (provision) benefit for credit losses (Provision) benefit for credit losses Mortgage loans Interest income: Securities purchased under agreements to resell Investments in securities and other (a) Interest expense: Total interest income CONDENSED CONSOLIDATED STATEMENT OF INCOME FANNIE MAE ($ and shares in millions, except per share data) Q3 2025 Variance vs. QUARTERLY DATA 2

Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2025 Q3 2024 $12,155 $12,304 $13,401 $13,477 $13,421 $(149) $(1,266) 27,220 26,123 24,670 25,059 24,501 1,097 2,719 61,525 63,878 71,495 56,250 56,915 (2,353) 4,610 71,656 77,430 79,347 79,197 61,790 (5,774) 9,866 808 393 775 373 1,278 415 (470) 53,765 51,905 47,425 50,053 51,455 1,860 2,310 4,077,063 4,076,080 4,086,508 4,095,287 4,093,581 983 (16,518) 4,130,828 4,127,985 4,133,933 4,145,340 4,145,036 2,843 (14,208) (8,246) (8,247) (7,532) (7,707) (7,656) 1 (590) 4,122,582 4,119,738 4,126,401 4,137,633 4,137,380 2,844 (14,798) 4,123,390 4,120,131 4,127,176 4,138,006 4,138,658 3,259 (15,268) 3,227 2,211 1,848 1,825 2,595 1,016 632 10,000 10,127 10,453 10,545 10,968 (127) (968) 11,901 11,678 11,592 11,364 11,277 223 624 14,782 14,345 13,727 14,008 14,431 437 351 Total assets $4,335,856 $4,338,227 $4,353,709 $4,349,731 $4,334,556 $(2,371) $1,300 $12,080 $11,841 $11,902 $11,585 $11,451 $239 $629 126,390 128,316 136,818 139,422 121,715 (1,926) 4,675 4,076,945 4,082,196 4,091,840 4,088,675 4,096,063 (5,251) (19,118) 14,956 14,238 14,837 15,392 14,797 718 159 Total liabilities $4,230,371 $4,236,591 $4,255,397 $4,255,074 $4,244,026 $(6,220) $(13,655) 120,836 120,836 120,836 120,836 120,836 0 0 19,130 19,130 19,130 19,130 19,130 0 0 687 687 687 687 687 0 0 (27,788) (31,647) (34,964) (38,625) (42,755) 3,859 14,967 20 30 23 29 32 (10) (12) (7,400) (7,400) (7,400) (7,400) (7,400) 0 0 Total stockholders' equity 105,485 101,636 98,312 94,657 90,530 3,849 14,955 Total liabilities & stockholders' equity $4,335,856 $4,338,227 $4,353,709 $4,349,731 $4,334,556 $(2,371) $1,300 © 2025 Fannie Mae See Notes to Condensed Consolidated Financial Statements in the Third Quarter 2025 Form 10-Q Other liabilities Of consolidated trusts Senior preferred stock FANNIE MAE STOCKHOLDERS' EQUITY Common stock, no par value, no maximum authorization— 1,308,762,703 shares issued and 1,158,087,567 shares outstanding Preferred stock, 700,000,000 shares are authorized— 555,374,922 shares issued and outstanding Accumulated deficit Accumulated other comprehensive income Treasury stock, at cost, 150,675,136 shares LIABILITIES Accrued interest payable Of Fannie Mae Debt Total mortgage loans Total loans held for investment, net of allowance Advances to lenders Deferred tax assets, net Other assets Accrued interest receivable Loans held for investment, at amortized cost Loans held for sale, at lower of cost or fair value Of Fannie Mae Of consolidated trusts Allowance for loan losses Total loans held for investment Cash ASSETS Restricted cash Securities purchased under agreements to resell Mortgage loans: Investments in securities, at fair value CONDENSED CONSOLIDATED BALANCE SHEETS FANNIE MAE ($ in millions) Q3 2025 Variance vs. QUARTERLY DATA 3

Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 $11,618 $11,630 $11,625 $11,594 $11,633 $129 $128 $125 $136 $158 75,484 83,310 79,218 70,540 77,314 844 924 872 857 1,057 76,745 81,558 81,509 72,239 57,212 614 617 587 498 350 55,368 51,709 49,919 53,005 52,105 599 542 499 577 576 4,076,794 4,079,998 4,094,365 4,093,501 4,092,789 37,745 37,151 36,900 36,352 35,814 4,132,162 4,131,707 4,144,284 4,146,506 4,144,894 38,344 37,693 37,399 36,929 36,390 3,262 3,420 2,376 4,042 3,325 46 49 33 61 57 Total interest-earning assets $4,299,271 $4,311,625 $4,319,012 $4,304,921 $4,294,378 $39,977 $39,411 $39,016 $38,481 $38,012 $14,467 $9,735 $9,837 $11,274 $10,445 $(154) $(103) $(105) $(133) $(137) 109,527 120,926 123,314 115,487 104,952 (1,204) (1,241) (1,238) (1,155) (1,014) 1,543 1,853 2,018 2,101 2,197 (45) (50) (54) (60) (64) 125,537 132,514 135,169 128,862 117,594 (1,403) (1,394) (1,397) (1,348) (1,215) 4,063,137 4,068,546 4,080,854 4,075,734 4,081,619 (31,390) (30,862) (30,618) (29,951) (29,522) Total interest-bearing liabilities $4,188,674 $4,201,060 $4,216,023 $4,204,596 $4,199,213 $(32,793) $(32,256) $(32,015) $(31,299) $(30,737) $7,184 $7,155 $7,001 $7,182 $7,275 4.44 % 4.40 % 4.30 % 4.69 % 5.43 % 4.47 % 4.44 % 4.40 % 4.86 % 5.47 % 3.20 % 3.03 % 2.88 % 2.76 % 2.45 % 4.33 % 4.19 % 4.00 % 4.35 % 4.42 % 3.70 % 3.64 % 3.60 % 3.55 % 3.50 % 3.71 % 3.65 % 3.61 % 3.56 % 3.51 % 5.64 % 5.73 % 5.56 % 6.04 % 6.86 % Total interest-earning assets 3.72 % 3.66 % 3.61 % 3.58 % 3.54 % 4.26 % 4.23 % 4.27 % 4.72 % 5.25 % 4.40 % 4.10 % 4.02 % 4.00 % 3.86 % 11.67 % 10.79 % 10.70 % 11.42 % 11.65 % 4.47 % 4.21 % 4.13 % 4.18 % 4.13 % 3.09 % 3.03 % 3.00 % 2.94 % 2.89 % Total interest-bearing liabilities 3.13 % 3.07 % 3.04 % 2.98 % 2.93 % 0.67 % 0.66 % 0.65 % 0.67 % 0.68 % (a) Net interest yield / Net interest margin © 2025 Fannie Mae Average balance includes mortgage loans on nonaccrual status. Interest income includes loan fees, which primarily consist of yield maintenance revenue we recognized on the prepayment of multifamily mortgage loans and the amortization of upfront cash fees exchanged when we acquire the mortgage loan. For most components of the average balances, we use a daily weighted average of unpaid principal balance net of unamortized cost basis adjustments. When daily average balance information is not available, such as for mortgage loans, we use monthly averages. INTEREST-BEARING LIABILITIES: Short-term funding debt CAS debt Long-term funding debt Debt securities of consolidated trusts held by third parties Total debt of Fannie Mae Mortgage loans: Mortgage loans of Fannie Mae Total mortgage loans (a) Mortgage loans of consolidated trusts Advances to lenders AVERAGE RATES EARNED / PAID Cash INTEREST-EARNING ASSETS: INTEREST INCOME / (EXPENSE) Investments in securities Securities purchased under agreements to resell Long-term funding debt CAS debt Debt securities of consolidated trusts held by third parties Total debt of Fannie Mae Net interest income Mortgage loans of consolidated trusts Total mortgage loans (a) Advances to lenders Short-term funding debt INTEREST-BEARING LIABILITIES: INTEREST-EARNING ASSETS: Cash Investments in securities Securities purchased under agreements to resell Mortgage loans of Fannie Mae Mortgage loans: FANNIE MAE AVERAGE BALANCE OF ASSETS & LIABILITIES AND ANNUALIZED YIELDS ($ in millions, except rates) QUARTERLY DATA AVERAGE BALANCES 4

Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2025 Q3 2024 $(5,777) $(5,178) $(5,319) $(5,086) $(5,703) $(599) $(74) (269) (707) (16) (390) 409 438 (678) 238 161 189 230 231 77 7 (47) (53) (32) (73) (23) 6 (24) $(5,855) $(5,777) $(5,178) $(5,319) $(5,086) $(78) $(769) $(2,470) $(2,354) $(2,388) $(2,570) $(2,323) $(116) $(147) (63) (205) 1 77 (423) 142 360 167 122 61 110 224 45 (57) (25) (33) (28) (5) (48) 8 23 $(2,391) $(2,470) $(2,354) $(2,388) $(2,570) $79 $179 $(8,247) $(7,532) $(7,707) $(7,656) $(8,026) $(715) $(221) (332) (912) (15) (313) (14) 580 (318) 405 283 250 340 455 122 (50) (72) (86) (60) (78) (71) 14 (1) $(8,246) $(8,247) $(7,532) $(7,707) $(7,656) $1 $(590) 0.16 % 0.16 % 0.14 % 0.15 % 0.14 % 0.46 % 0.49 % 0.47 % 0.48 % 0.53 % 0.20 % 0.20 % 0.18 % 0.19 % 0.19 % 0.02 % 0.01 % 0.02 % 0.02 % 0.02 % 0.11 % 0.07 % 0.03 % 0.09 % 0.15 % 0.03 % 0.02 % 0.02 % 0.03 % 0.04 % 0.85 % 0.82 % 0.84 % 0.88 % 0.79 % 0.68 % 0.61 % 0.63 % 0.57 % 0.56 % 0.83 % 0.79 % 0.81 % 0.84 % 0.76 % (a) (b) (c) © 2025 Fannie Mae The nonperforming loan rate is based on the aggregate unpaid principal balance of single-family conventional, multifamily, or total loans delinquent 60 days or more as a percentage of the company's single-family conventional, multifamily or total guaranty books of business. The net charge-off rate, which consists of allowance for loan losses, allowance for accrued interest receivable and reserve for guaranty losses, is based on annualized write-offs, net of recoveries, for single-family, multifamily, or total, where write-offs are when a loan is determined to be uncollectible or upon the redesignation of single-family mortgage loans from held for investment to held for sale, as a percentage of the average aggregate unpaid principal balance of the single-family conventional, multifamily, or total guaranty books of business during the period. For additional information, refer to “MD&A—Consolidated Credit Ratios and Select Credit Information” in the company's applicable Form 10-Q and Form 10-K filings. The company's single-family, multifamily or total allowance for credit losses as a percentage of the company's single-family conventional, multifamily or total guaranty books of business. Multifamily allowance for credit losses excludes the expected benefit of freestanding credit enhancements on multifamily loans, which are recorded in “Other assets” in the company's consolidated balance sheets. For additional information, refer to “MD&A—Consolidated Credit Ratios and Select Credit Information” in the company’s applicable Form 10-Q and Form10-K filings. NET CHARGE-OFF RATIOS (b) Single-Family Multifamily Total guaranty book Single-Family NONPERFORMING LOANS (c) Multifamily Total guaranty book Ending balance ALLOWANCE FOR CREDIT LOSSES / GUARANTY BOOK (a) Single-Family Total guaranty book Multifamily Total allowance for loan losses: Ending balance Beginning balance (Provision) benefit for loan losses Recoveries Write-offs Multifamily allowance for loan losses: Ending balance Beginning balance (Provision) benefit for loan losses Recoveries Write-offs Single-family allowance for loan losses: ALLOWANCE FOR LOAN LOSSES Beginning balance (Provision) benefit for loan losses Recoveries Write-offs CREDIT-RELATED INFORMATION FANNIE MAE ($ in millions, except ratio data) Q3 2025 Variance vs. QUARTERLY DATA 5

Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2025 Q3 2024 $(7) $(11) $(15) $(18) $(23) $4 $16 (44) (48) (52) (56) (60) 4 16 (25) (29) (33) (37) (41) 4 16 (25) (29) (33) (37) (41) 4 16 1,372 1,312 1,333 1,364 1,331 60 41 (0.5)% (0.8)% (1.1)% (1.3)% (1.7)% 0.3 % 1.2 % (3.2)% (3.7)% (3.9)% (4.1)% (4.5)% 0.5 % 1.3 % (1.8)% (2.2)% (2.5)% (2.7)% (3.1)% 0.4 % 1.3 % (1.8)% (2.2)% (2.5)% (2.7)% (3.1)% 0.4 % 1.3 % $(15) $(19) $(23) $(26) $(30) $4 $15 (25) (29) (33) (37) (41) 4 16 4,443 4,446 4,462 4,460 4,446 (3) (3) (0.3)% (0.4)% (0.5)% (0.6)% (0.7)% 0.1 % 0.4 % (0.6)% (0.7)% (0.7)% (0.8)% (0.9)% 0.1 % 0.3 % $(48,457) $(52,107) $(55,854) $(60,404) $(64,519) $3,650 $16,062 3,859 3,317 3,661 4,130 4,044 542 (185) (10) 7 (6) (3) 3 (17) (13) (127) (326) (92) (423) (68) 199 (59) 3,976 3,650 3,747 4,550 4,115 326 (139) Standardized CET1 capital, ending balance $(44,481) $(48,457) $(52,107) $(55,854) $(60,404) $3,976 $15,923 (a) (b) Negative capital amounts and ratios indicate capital deficits. Represents changes in deferred tax assets arising from temporary differences that exceed 10% of common equity tier 1 capital and other regulatory adjustments. Changes in standardized CET1 capital © 2025 Fannie Mae CET1 CAPITAL ROLLFORWARD ($ in millions) Standardized CET1 capital beginning balance Net income Less: Changes in deferred tax assets (b) Changes in accumulated other comprehensive income (loss), net of taxes Core capital (statutory) Leverage-based capital metrics Tier 1 capital Adjusted total assets Tier 1 capital ratio Core capital (statutory) ratio Total capital (statutory) ratio Risk-weighted assets CET1 capital ratio Tier 1 capital ratio Adjusted total capital ratio Standardized Risk-based capital metrics Total capital (statutory) CET1 capital Adjusted total capital Tier 1 capital REGULATORY CAPITAL FANNIE MAE ($ in billions, except ratio data) AVAILABLE CAPITAL (DEFICIT) (a) Q3 2025 Variance vs. QUARTERLY DATA 6

Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2025 Q3 2024 $5,992 $5,992 $5,866 $6,029 $6,131 $0 $(139) 104 69 65 91 48 35 56 6,096 6,061 5,931 6,120 6,179 35 (83) (269) (737) (24) (396) 451 468 (720) (22) 197 82 815 (8) (219) (14) 5 (8) 2 (5) 9 13 (4) (669) (687) (812) (776) (732) 18 63 (929) (918) (920) (934) (936) (11) 7 (330) (318) (407) (327) (336) (12) 6 (7) (143) (174) (172) (223) 136 216 (1,935) (2,066) (2,313) (2,209) (2,227) 131 292 3,875 3,447 3,678 4,325 4,404 428 (529) (790) (711) (760) (871) (890) (79) 100 $3,085 $2,736 $2,918 $3,454 $3,514 $349 $(429) $3,588 $3,597 $3,610 $3,622 $3,626 48.5 48.3 48.1 47.9 47.7 $873 $874 $862 $850 $875 431 458 421 419 425 29 30 31 45 46 37 % 39 % 37 % 36 % 37 % 0.54 % 0.53 % 0.56 % 0.56 % 0.52 % 4 5 5 6 6 $2.3 $2.7 $3.6 $2.7 $2.3 3.2 3.5 2.7 2.3 2.4 0.2 0.3 0.2 0.2 0.2 $5.7 $6.5 $6.5 $5.2 $4.9 23.4 25.8 27.0 22.2 21.0 (a) (b) (c) (d) (e) (f) (g) (h) © 2025 Fannie Mae Based on the unpaid principal balance of the single-family conventional guaranty book of business as of period end. Single-family serious delinquency (“SDQ”) rate refers to single-family loans that are 90 days or more past due or in the foreclosure process, expressed as a percentage of the company’s single-family conventional guaranty book of business, based on loan count. Includes repayment plans and foreclosure alternatives. Repayment plans reflect only those plans associated with loans that were 60 days or more delinquent. This does not include loans in an active forbearance arrangement, trial modifications, and repayment plans that have been initiated but not completed. UPB outstanding of single-family loans in a CIRTTM transaction (d) Percentage of single-family conventional guaranty book of business covered by a CRT transaction (e) UPB outstanding of single-family loans in other CRT transactions Includes mortgage pool insurance transactions. Outstanding unpaid principal balance represents the underlying loan balance, which is different from the reference pool balance for CAS and some lender risk-sharing transactions. Represents, on an annualized basis, the average of the base guaranty fees charged weighted by unpaid principal balance during the period for the company's single-family conventional guaranty arrangements plus the recognition of any upfront cash payments relating to these guaranty arrangements based on an estimated average life at the time of acquisition (in basis points). Excludes the impact of TCCA. Single-family conventional loan population consists of: (a) single-family conventional mortgage loans of Fannie Mae and (b) single-family conventional mortgage loans underlying Fannie Mae MBS other than loans underlying Freddie Mac securities that Fannie Mae has resecuritized. It excludes non-Fannie Mae single-family mortgage-related securities held in the retained mortgage portfolio for which Fannie Mae does not provide a guaranty. Conventional refers to mortgage loans and mortgage-related securities that are not guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies. SINGLE-FAMILY PROBLEM LOAN STATISTICS Serious delinquency rate (f) REO Ending Inventory (number of properties, in thousands) Payment Deferrals Single-Family Loan Workouts ($ in billions) (g) Other (h) Modifications Total Loan Workouts Number of Loan Workouts (in thousands) SELECTED SINGLE-FAMILY HIGHLIGHTS Average Charged Guaranty Fee on Conventional Book of Business, net of TCCA fees (bps) (b) Average Conventional Guaranty Book of Business ($ in billions) (a) SINGLE-FAMILY CREDIT RISK TRANSFER ($ in billions) UPB outstanding of single-family loans in a Connecticut Avenue Securities® transaction (c) Credit enhancement expense Other income (expense), net Income before federal income taxes Total non-interest expense Net Income Provision for federal income taxes Fair value gains (losses), net Non-interest expense Investment gains (losses), net Legislative expenses Administrative expenses Q3 2025 Variance vs. QUARTERLY DATA Net revenues Fee and other income (Provision) benefit for credit losses SEGMENT RESULTS - SINGLE-FAMILY SELECTED FINANCIAL DATA FANNIE MAE Net interest income SELECTED SINGLE-FAMILY INCOME STATEMENT DATA ($ in millions) 7

Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2025 Q3 2024 $72 $64 $50 $62 $80 $8 $(8) 18 20 14 23 13 (2) 5 $90 $84 $64 $85 $93 $6 $(3) 77 % 77 % 77 % 76 % 77 % 7 % 6 % 6 % 6 % 7 % 756 757 757 758 759 7 % 7 % 6 % 5 % 5 % 38 % 37 % 38 % 35 % 37 % 98 % 98 % 99 % 100 % 99 % 95 % 94 % 94 % 94 % 93 % 7 % 6 % 6 % 6 % 7 % Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 80 % 76 % 78 % 74 % 86 % 10 % 12 % 12 % 10 % 8 % 10 % 12 % 10 % 16 % 6 % (a) (b) (c) (d) Excludes loans for which this information is not readily available. From time to time, the company revises its guidelines for determining a borrower's DTI ratio. The amount of income reported by a borrower and used to qualify for a mortgage may not represent the borrower's total income; therefore, the DTI ratios reported may be higher than borrowers' actual DTI ratios. FICO credit score is as of loan origination, as reported by the seller of the mortgage loan. Refers to HomeReady ® mortgage loans, a low down payment mortgage product offered by the company that is designed for creditworthy low-income borrowers. HomeReady allows up to 97% loan-to-value ratio financing for home purchases. The company offers additional low down payment mortgage products that are not HomeReady loans; therefore, this category is not representative of all high LTV ratio single-family loans acquired or in the single-family conventional guaranty book of business for the periods shown. See the “OLTV Ratio > 95%” category for information on the single-family loans acquired or in the single-family conventional guaranty book of business with original LTV ratios greater than 95%. © 2025 Fannie Mae ACQUISITION BY LOAN PURPOSE Cash-out refinance Purchase Other refinance Single-family conventional loan population consists of: (a) single-family conventional mortgage loans of Fannie Mae and (b) single-family conventional mortgage loans underlying Fannie Mae MBS other than loans underlying Freddie Mac securities that Fannie Mae has resecuritized. It excludes non-Fannie Mae single-family mortgage-related securities held in the retained mortgage portfolio for which Fannie Mae does not provide a guaranty. Conventional refers to mortgage loans and mortgage-related securities that are not guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies. FICO Credit Score <680 (b) Fixed-rate Debt-to-Income (“DTI”) Ratio >43% (c) HomeReady (d) Primary Residence Total Conventional Loan Acquisitions Conventional Loan Credit Characteristics (by acquisition period): Origination LTV Ratio >95% Weighted Average Origination Loan-to-Value (“LTV”) Ratio Weighted-Average FICO Credit Score (b) Q3 2025 Variance vs. QUARTERLY DATA Purchase Conventional Loan Acquisition by Purpose: Refinance SEGMENT RESULTS - SINGLE-FAMILY CONVENTIONAL LOAN ACQUISITIONS FANNIE MAE ($ in billions) SELECTED SINGLE-FAMILY CONVENTIONAL LOAN ACQUISITION DATA (a) 8

2025 2024 2023 2022 2020 - 2021 2019 - 2009 2008 & Earlier Overall Book / Total $204.3 $288.3 $238.9 $425.8 $1,692.6 $684.8 $50.2 $3,584.9 $328,907 $317,900 $301,099 $279,404 $237,979 $126,879 $72,419 $210,274 6 % 8 % 7 % 12 % 47 % 19 % 1 % 100 % 39 % 65 % 78 % 65 % 41 % 35 % 8 % 47 % 0.05 % 0.36 % 0.69 % 0.90 % 0.36 % 0.59 % 1.63 % 0.54 % 0 % 4 % 6 % 15 % 28 % 35 % 12 % 100 % 77 % 78 % 79 % 76 % 70 % 75 % 75 % 74 % 7 % 7 % 7 % 6 % 3 % 8 % 9 % 5 % 76 % 73 % 71 % 64 % 46 % 31 % 27 % 50 % 756 757 755 747 758 746 695 753 7 % 5 % 5 % 8 % 5 % 11 % 39 % 7 % 6.7 % 6.6 % 6.6 % 4.7 % 3.0 % 4.1 % 5.6 % 4.2 % Q3 2025 2024 2023 2022 2021 50 % 50 % 51 % 52 % 54 % 753 753 753 752 753 (a) (b) (c) (d) (e) (f) (g) Single-family serious delinquency (“SDQ”) rate refers to single-family loans that are 90 days or more past due or in the foreclosure process, expressed as a percentage of the company’s single-family conventional guaranty book of business, based on loan count. Single-family SDQ rate for loans in a particular category refers to SDQ loans in the applicable category, divided by the number of loans in the single-family conventional guaranty book of business in that category. FICO credit score is as of loan origination, as reported by the seller of the mortgage loan. The average estimated mark-to-market LTV ratio is based on the unpaid principal balance of the loan divided by the estimated current value of the property at period end, which the company calculates using an internal valuation model that estimates periodic changes in home value. Excludes loans for which this information is not readily available. Calculated based on the number of single-family loans that were seriously delinquent for each category divided by the total number of single-family conventional loans that were seriously delinquent. © 2025 Fannie Mae Weighted-Average FICO Credit Score (g) Single-Family Weighted-Average Mark-to-Market Loan-to-Value Ratio Single-family conventional loan population consists of: (a) single-family conventional mortgage loans of Fannie Mae and (b) single-family conventional mortgage loans underlying Fannie Mae MBS other than loans underlying Freddie Mac securities that Fannie Mae has resecuritized. It excludes non-Fannie Mae single-family mortgage-related securities held in the retained mortgage portfolio for which Fannie Mae does not provide a guaranty. Conventional refers to mortgage loans and mortgage-related securities that are not guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies. Calculated based on the aggregate unpaid principal balance of single-family loans for each category divided by the aggregate unpaid principal balance of loans in the single-family conventional guaranty book of business. Loans with multiple product features are included in all applicable categories. Percentage of loans in each category, measured by unpaid principal balance, included in an agreement used to reduce credit risk by requiring collateral, letters of credit, mortgage insurance, corporate guarantees, inclusion in a credit risk transfer transaction reference pool, or other agreement that provides for Fannie Mae's compensation to some degree in the event of a financial loss relating to the loan. Weighted-Average FICO Credit Score (g) Weighted-Average Mark-to-Market LTV Ratio (f) FICO Credit Score <680 (g) Weighted-Average Borrower Interest Rate Single-Family Conventional Guaranty Book of Business Credit Characteristics Share of Loans with Credit Enhancement (c) Share of SF Conventional Guaranty Book Serious Delinquency Rate (by loan count) (d) Share of Seriously Delinquent Loan Population (e) OLTV Ratio >95% Weighted-Average OLTV Ratio FANNIE MAE SEGMENT RESULTS - SINGLE-FAMILY CONVENTIONAL GUARANTY BOOK OF BUSINESS As of September 30, 2025 SELECTED CREDIT CHARACTERISTICS OF SINGLE-FAMILY CONVENTIONAL GUARANTY BOOK OF BUSINESS (a)(b) Average UPB Total UPB ($ in billions) BY ORIGINATION YEAR 9

OLTV Ratio > 95% Home Ready (g) FICO Credit Score < 680 (f) DTI Ratio > 43% (h) $186.3 $134.1 $261.6 $966.4 $185,359 $184,202 $162,146 $239,176 5 % 4 % 7 % 27 % 86 % 77 % 41 % 53 % 1.20 % 1.01 % 1.94 % 0.83 % 13 % 8 % 34 % 36 % 100 % 86 % 74 % 76 % 100 % 31 % 6 % 6 % 68 % 65 % 47 % 55 % 740 745 653 744 8 % 8 % 100 % 9 % 4.8 % 4.7 % 4.6 % 4.5 % (a) (b) (c) (d) (e) (f) (g) (h) Single-family conventional loan population consists of: (a) single-family conventional mortgage loans of Fannie Mae and (b) single-family conventional mortgage loans underlying Fannie Mae MBS other than loans underlying Freddie Mac securities that Fannie Mae has resecuritized. It excludes non-Fannie Mae single-family mortgage-related securities held in the retained mortgage portfolio for which Fannie Mae does not provide a guaranty. Conventional refers to mortgage loans and mortgage-related securities that are not guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies. Percentage of loans in each category, measured by unpaid principal balance, included in an agreement used to reduce credit risk by requiring collateral, letters of credit, mortgage insurance, corporate guarantees, inclusion in a credit risk transfer transaction reference pool, or other agreement that provides for Fannie Mae's compensation to some degree in the event of a financial loss relating to the loan. Single-family serious delinquency (“SDQ”) rate refers to single-family loans that are 90 days or more past due or in the foreclosure process, expressed as a percentage of the company’s single-family conventional guaranty book of business, based on loan count. Single-family SDQ rate for loans in a particular category refers to SDQ loans in the applicable category, divided by the number of loans in the single-family conventional guaranty book of business in that category. Calculated based on the number of single-family loans that were seriously delinquent for each category divided by the total number of single-family conventional loans that were seriously delinquent. © 2025 Fannie Mae Refers to HomeReady® mortgage loans, a low down payment mortgage product offered by the company that is designed for creditworthy low-income borrowers. HomeReady allows up to 97% loan-to-value ratio financing for home purchases. The company offers additional low down payment mortgage products that are not HomeReady loans; therefore, this category is not representative of all high LTV ratio single-family loans acquired or in the single-family conventional guaranty book of business for the periods shown. See the “OLTV Ratio > 95%” category for information on the single-family loans acquired or in the single-family conventional guaranty book of business with original LTV ratios greater than 95%. Excludes loans for which this information is not readily available. From time to time, the company revises its guidelines for determining a borrower's DTI ratio. The amount of income reported by a borrower and used to qualify for a mortgage may not represent the borrower's total income; therefore, the DTI ratios reported may be higher than borrowers' actual DTI ratios. The average estimated mark-to-market LTV ratio is based on the unpaid principal balance of the loan divided by the estimated current value of the property at period end, which the company calculates using an internal valuation model that estimates periodic changes in home value. Excludes loans for which this information is not readily available. FICO credit score is as of loan origination, as reported by the seller of the mortgage loan. Weighted-Average FICO Credit Score (f) Weighted-Average Mark-to-Market LTV Ratio (e) FICO Credit Score <680 (f) Weighted-Average Borrower Interest Rate Share of Loans with Credit Enhancement (b) Share of SF Conventional Guaranty Book Serious Delinquency Rate (by loan count) (c) Share of Seriously Delinquent Loan Population (d) OLTV Ratio >95% Weighted-Average OLTV Ratio FANNIE MAE SEGMENT RESULTS - SINGLE-FAMILY CONVENTIONAL GUARANTY BOOK OF BUSINESS As of September 30, 2025 SELECTED CREDIT CHARACTERISTICS OF SINGLE-FAMILY CONVENTIONAL GUARANTY BOOK OF BUSINESS (a) Average UPB Total UPB ($ in billions) BY LOAN FEATURE 10

Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2025 Q3 2024 $1,192 $1,163 $1,135 $1,153 $1,144 $29 $48 19 17 19 24 18 2 1 1,211 1,180 1,154 1,177 1,162 31 49 (69) (209) 0 75 (424) 140 355 35 14 41 27 60 21 (25) (6) 0 (2) (5) 3 (6) (9) (150) (160) (180) (171) (152) 10 2 (14) (21) (11) (15) (12) 7 (2) (79) (82) (72) (79) (75) 3 (4) 32 (15) (24) (155) 87 47 (55) (211) (278) (287) (420) (152) 67 (59) 960 707 906 854 649 253 311 (186) (126) (163) (178) (119) (60) (67) $774 $581 $743 $676 $530 $193 $244 $18.7 $17.4 $11.8 $22.5 $13.2 $1.3 $5.5 521.3 510.8 504.5 499.7 485.6 10.5 35.7 72.4 73.3 74.1 74.4 75.1 (0.9) (2.7) $107,712 $109,381 $111,249 $101,181 $102,961 $(1,669) $4,751 67,929 69,114 55,894 56,142 56,683 (1,185) 11,246 34 % 35 % 33 % 31 % 33 % (1)% 1 % 0.68 % 0.61 % 0.63 % 0.57 % 0.56 % 6 % 6 % 6 % 7 % 7 % 188 176 148 139 128 (a) (b) (c) © 2025 Fannie Mae UPB outstanding of multifamily loans in a multifamily CIRT transaction Percentage of multifamily guaranty book in a multifamily CRT transaction UPB outstanding of multifamily loans in a Multifamily Connecticut Avenue Securities transaction Criticized loans represent loans classified as “Special Mention,” “Substandard” or “Doubtful.” Loans classified as “Special Mention” refers to loans that are otherwise performing but have potential weaknesses that, if left uncorrected, may result in deterioration in the borrower’s ability to repay in full. Loans classified as “Substandard” have a well-defined weakness that jeopardizes the timely full repayment. “Doubtful” refers to a loan with a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions and values. For Multifamily, serious delinquency rate refers to multifamily loans that are 60 days or more past due, expressed as a percentage of the company’s multifamily guaranty book of business as a percentage of loans in each category, based on unpaid principal balance. The multifamily guaranty book of business consists of: (a) multifamily mortgage loans of Fannie Mae; (b) multifamily mortgage loans underlying Fannie Mae MBS; and (c) other credit enhancements that the company provided on multifamily mortgage assets. It excludes non-Fannie Mae multifamily mortgage-related securities held in the retained mortgage portfolio for which Fannie Mae does not provide a guaranty. MULTIFAMILY PROBLEM LOAN STATISTICS Serious delinquency rate (b) Percent criticized (c) REO ending inventory (number of properties) SELECTED MULTIFAMILY GUARANTY BOOK OF BUSINESS DATA ($ in billions) UPB outstanding of guaranty book of business (a) New business volume Average charged guaranty fee (in bps) at period end MULTIFAMILY CREDIT RISK TRANSFER ($ in millions) Credit enhancement expense Other income (expense), net Income before federal income taxes Total non-interest expense Net income Provision for federal income taxes Fair value gains (losses), net Non-interest expense Investment gains (losses), net Legislative assessments Administrative expenses Q3 2025 Variance vs. QUARTERLY DATA Net revenues Fee and other income (Provision) benefit for credit losses SEGMENT RESULTS - MULTIFAMILY SELECTED FINANCIAL DATA FANNIE MAE Net interest income SELECTED MULTIFAMILY INCOME STATEMENT DATA ($ in millions) 11

YTD Q3 2025 2024 2023 2022 2021 $47.9 $55.1 $52.9 $69.2 $69.5 62 % 62 % 59 % 59 % 65 % 2,320 2,602 2,812 3,572 4,203 100 % 99 % 100 % 100 % 100 % 99 % 99 % 99 % 99 % 99 % 63 % 61 % 63 % 53 % 40 % 60 % 59 % 57 % 56 % 59 % 66 % 66 % 63 % 63 % 68 % 29 % 31 % 32 % 39 % 50 % 88 % 89 % 93 % 86 % 72 % 11 % 11 % 6 % 14 % 27 % 1 % 1 % 1 % 0 % 1 % 99 % 100 % 99 % 78 % 89 % 1 % 0 % 1 % 22 % 11 % YTD Q3 2025 $3.51 2.46 1.73 1.61 1.52 1.52 1.40 1.18 1.05 1.03 $17.01 35.5 % (a) (b) (c) (d) Includes any loan that was underwritten with an interest-only term less than the term of the loan, regardless of whether it is currently in its interest-only period. © 2025 Fannie Mae The multifamily guaranty book of business consists of: (a) multifamily mortgage loans of Fannie Mae; (b) multifamily mortgage loans underlying Fannie Mae MBS; and (c) other credit enhancements that the company provided on multifamily mortgage assets. It excludes non-Fannie Mae multifamily mortgage-related securities held in the retained mortgage portfolio for which Fannie Mae does not provide a guaranty. Represents the percentage of the company's multifamily guaranty book of business with lender risk-sharing agreements in place, measured by unpaid principal balance. Under the Delegated Underwriting and Servicing (“DUS®”) program, Fannie Mae acquires individual, newly originated mortgages from specially approved DUS lenders using DUS underwriting standards and/or DUS loan documents. Because DUS lenders generally share the risk of loss with Fannie Mae, they are able to originate, underwrite, close and service most loans without a pre-review by the company. Phoenix Seattle Charlotte Philadelphia Share of Acquisitions Total Top 10 UPB Los Angeles New York Dallas Chicago Washington DC Boston Original Loan-to-Value Ratio greater than 80% Fixed ACQUISITION BY NOTE TYPE Variable-rate TOP 10 METROPOLITAN STATISTICAL AREAS BY YTD 2025 ACQUISITION UPB ($ in billions) Weighted-Average OLTV Ratio on Non-Full Interest-Only Acquisitions Weighted-Average OLTV Ratio on Full Interest-Only Acquisitions % Partial Interest-Only (d) Original Loan-to-Value Ratio less than or equal to 70% Original Loan-to-Value Ratio greater than 70% and less than or equal to 80% BY ACQUISITION PERIOD % Lender Recourse (b) Loan Count % DUS (c) % Full Interest-Only SEGMENT RESULTS - MULTIFAMILY LOAN ACQUISITIONS FANNIE MAE Categories are not mutually exclusive SELECTED MULTIFAMILY LOAN ACQUISITION DATA (a) Weighted-Average OLTV Ratio Total UPB ($ in billions) 12

2025 2024 2023 2022 2021 2020 - 2017 2016 & Earlier Overall Book $47.9 $55.0 $51.9 $63.9 $63.7 $198.8 $40.1 $521.3 9 % 11 % 10 % 12 % 12 % 38 % 8 % 100 % 2,316 2,586 2,746 3,342 3,828 11,384 4,037 30,239 $21 $21 $19 $19 $17 $17 $10 $17 62 % 62 % 59 % 59 % 64 % 65 % 66 % 63 % 1.6 1.6 1.5 1.7 2.4 2.2 2.1 1.9 0 % 2 % 5 % 12 % 3 % 4 % 4 % 4 % 99 % 100 % 99 % 82 % 93 % 96 % 87 % 94 % 64 % 62 % 63 % 54 % 41 % 38 % 29 % 47 % 29 % 31 % 32 % 38 % 50 % 51 % 45 % 43 % 34 % 34 % 40 % 39 % 44 % 46 % 69 % 45 % 0.00 % 0.35 % 1.08 % 1.44 % 0.37 % 0.66 % 0.79 % 0.68 % 0 % 2 % 7 % 14 % 4 % 6 % 6 % 6 % As of September 30, 2025 $2.3 27.7 28.4 53.2 224.0 136.7 49.0 $521.3 (a) (b) (c) (d) (e) (f) Multifamily serious delinquency rate refers to multifamily loans that are 60 days or more past due, expressed as a percentage of the company’s multifamily guaranty book of business, based on unpaid principal balance. Multifamily serious delinquency rate for loans in a particular category (such as acquisition year, asset class or targeted affordable segment), refers to seriously delinquent loans in the applicable category, divided by the unpaid principal balance of the loans in the multifamily guaranty book of business in that category. Criticized loans represent loans classified as “Special Mention,” “Substandard” or “Doubtful.” Loans classified as “Special Mention” refers to loans that are otherwise performing but have potential weaknesses that, if left uncorrected, may result in deterioration in the borrower’s ability to repay in full. Loans classified as “Substandard” have a well-defined weakness that jeopardizes the timely full repayment. “Doubtful” refers to a loan with a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions and values. © 2025 Fannie Mae Total Small balance loans refer to multifamily loans with an original unpaid principal balance of up to $9 million. Small balance loans are included within the asset class categories referenced above. The company presents this metric in the table based on loan count rather than unpaid principal balance. Small balance loans comprised 10% of the company's multifamily guaranty book of business as of September 30, 2025, based on the unpaid principal balance of the loans. Includes any loan that was underwritten with an interest-only term less than the term of the loan, regardless of whether it is currently in its interest-only period. The multifamily guaranty book of business consists of: (a) multifamily mortgage loans of Fannie Mae; (b) multifamily mortgage loans underlying Fannie Mae MBS; and (c) other credit enhancements that the company provided on multifamily mortgage assets. It excludes non- Fannie Mae multifamily mortgage-related securities held in the retained mortgage portfolio for which Fannie Mae does not provide a guaranty. Estimates of current DSCRs are based on the latest available income information covering a 12 month period, from quarterly and annual statements for these properties including the related debt service. When an annual statement is the latest statement available, it is used. When operating statement information is not available, the underwritten DSCR is used. Co-op loans are excluded from this metric. 2026 2027 2029 - 2031 2028 Other 2032 - 2034 % Small Balance Loans (d) Serious Delinquency Rate (e) % Criticized (f) 2025 UPB BY MATURITY YEAR ($ in billions) (a) Weighted-Average OLTV Ratio Weighted-Average DSCR (b) % Fixed Rate % with DSCR Below 1.0 (b) % Partial Interest-Only (c) % Full Interest-Only % of Multifamily Guaranty Book Total UPB ($ in billions) ACQUISITION YEAR Average UPB ($ in millions) Loan Count SEGMENT RESULTS - MULTIFAMILY GUARANTY BOOK OF BUSINESS FANNIE MAE As of September 30, 2025 SELECTED CREDIT CHARACTERISTICS OF MULTIFAMILY GUARANTY BOOK OF BUSINESS (a) Categories are not mutually exclusive 13

Conventional / Co-op (g) Seniors Housing (g) Student Housing (g) Manufactured Housing (g) Affordable (h) $474.5 $12.4 $12.0 $22.4 $64.2 91 % 3 % 2 % 4 % 12 % 27,360 431 440 2,008 4,128 $17.3 $28.7 $27.3 $11.1 $15.5 63 % 64 % 65 % 60 % 67 % 1.9 1.6 1.8 2.3 1.8 4 % 17 % 5 % 1 % 7 % 95 % 77 % 86 % 94 % 90 % 48 % 17 % 36 % 43 % 31 % 42 % 63 % 59 % 46 % 45 % 44 % 21 % 39 % 66 % 51 % 0.65 % 1.86 % 1.71 % 0.07 % 0.29 % 6 % 23 % 6 % 2 % 8 % (a) (b) (c) (d) (e) (f) (g) (h) Estimates of current DSCRs are based on the latest available income information covering a 12 month period, from quarterly and annual statements for these properties including the related debt service. When an annual statement is the latest statement available, it is used. When operating statement information is not available, the underwritten DSCR is used. Co-op loans are excluded from this metric. Includes any loan that was underwritten with an interest-only term less than the term of the loan, regardless of whether it is currently in its interest-only period. © 2025 Fannie Mae Represents Multifamily Affordable Housing loans, which are defined as financing for properties that are under an agreement that provides long-term affordability, such as properties with rent subsidies or income restrictions. See https://multifamily.fanniemae.com/financing-options for definitions. Loans with multiple product features are included in all applicable categories. Criticized loans represent loans classified as “Special Mention,” “Substandard” or “Doubtful.” Loans classified as “Special Mention” refers to loans that are otherwise performing but have potential weaknesses that, if left uncorrected, may result in deterioration in the borrower’s ability to repay in full. Loans classified as “Substandard” have a well-defined weakness that jeopardizes the timely full repayment. “Doubtful” refers to a loan with a weakness that makes collection or liquidation in full highly questionable and improbable based on existing conditions and values. Multifamily serious delinquency rate refers to multifamily loans that are 60 days or more past due, expressed as a percentage of the company’s multifamily guaranty book of business, based on unpaid principal balance. Multifamily serious delinquency rate for loans in a particular category (such as acquisition year, asset class or targeted affordable segment), refers to seriously delinquent loans in the applicable category, divided by the unpaid principal balance of the loans in the multifamily guaranty book of business in that category. Small balance loans refer to multifamily loans with an original unpaid principal balance of up to $9 million. Small balance loans are included within the asset class categories referenced above. The company presents this metric in the table based on loan count rather than unpaid principal balance. % Small Balance Loans (d) Serious Delinquency Rate (e) % Criticized (f) The multifamily guaranty book of business consists of: (a) multifamily mortgage loans of Fannie Mae; (b) multifamily mortgage loans underlying Fannie Mae MBS; and (c) other credit enhancements that the company provided on multifamily mortgage assets. It excludes non-Fannie Mae multifamily mortgage-related securities held in the retained mortgage portfolio for which Fannie Mae does not provide a guaranty. Weighted-Average OLTV Ratio Weighted-Average DSCR (b) % Fixed Rate % with DSCR Below 1.0 (b) % Partial Interest-Only (c) % Full Interest-Only % of Multifamily Guaranty Book Total UPB ($ in billions) BY ASSET CLASS / TARGETED AFFORDABLE SEGMENT Average UPB ($ in millions) Loan Count SEGMENT RESULTS - MULTIFAMILY GUARANTY BOOK OF BUSINESS FANNIE MAE As of September 30, 2025 SELECTED CREDIT CHARACTERISTICS OF MULTIFAMILY GUARANTY BOOK OF BUSINESS (a) Categories are not mutually exclusive 14

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.0 %* 0.0 %* 0.0 %* 0.1 % 1.1 % 0.3 % 0.2 % 0.3 % 0.1 % 0.1 % 0.1 % 0.1 % 0.3 % 0.2 % 0.0 %* 0.0 %* 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q3 2025 222 260 128 118 62 12 13 11 16 12 14 31 28 61 139 188 * Represents less than 0.05% of cumulative total credit loss rate, net by acquisition year. (a) © 2025 Fannie Mae Cumulative net credit loss rate is the cumulative net credit losses through September 30, 2025 on the multifamily loans that were acquired in the applicable period, as a percentage of the total acquired unpaid principal balance of multifamily loans that were acquired in the applicable period. Net credit losses include expected benefit of freestanding loss- sharing arrangements, primarily multifamily DUS lender risk-sharing transactions. Credit loss rate for 2014 acquisitions was primarily driven by the write-off of a seniors housing portfolio in 2023. AS OF PERIOD END ACQUISITION YEAR Cumulative Total Credit Loss Rate, Net by Acquisition Year through September 2025 (a) REO Ending Inventory (number of properties) SEGMENT RESULTS - MULTIFAMILY PROBLEM LOAN STATISTICS FANNIE MAE 15