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CAS Mortgage Insurance Primer Presentation

Disclaimer This presentation contains a number of estimates, forecasts, expectations, beliefs, and other forward-looking statements, including statements regarding economic and housing market conditions, Fannie Mae's future dividend payments to Treasury, and future issuances and the projected performance of Connecticut Avenue Securities TM. These estimates, forecasts, expectations, beliefs and other forward-looking statements are based on the company's current assumptions regarding numerous factors and are subject to change. Actual outcomes may differ materially from those reflected in these forward- looking statements due to a variety of factors, including, but not limited to, those described in "Executive Summary," "Forward-Looking Statements" and "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2016 (our "2016 Form 10-K"), and Form 10-Q for the quarter ended June 30, 2017. Any forward-looking statements made by Fannie Mae speak only as of the date on which they were made. Fannie Mae is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, subsequent events, or otherwise. CAS Mortgage Insurance Primer Presentation 10/18/2017 © 2017 Fannie Mae. Trademarks of Fannie Mae. 2
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