Investor Presentation: General Obligation Bonds Consolidated Loan of 2020

The Commonwealth has a Highly Educated Workforce with High Incomes and is Home to Top Companies, Colleges, and Universities ■ ☐ Large diverse economy focused on important knowledge sectors that pay above average wages such as health care, technology and education As of July 1, 2019, the population of the Commonwealth was 6.9 million ➤ The Commonwealth's population has grown 5.8% from 2009 to 2019 compared to the national average of 7.0% and the New England average of 3.1% The availability of a skilled and well-educated workforce is an important resource The Commonwealth has the highest percentage of adults with a bachelor degree or higher among all the states in the nation at 44.5% 91.8% of adults over the age of 25 have completed high school, above the national average of 88.3% Massachusetts has spent nearly one-third more per pupil in primary and secondary education than the national average since 1994 TENSIS Home to 34 Fortune 500 Companies GE EVERSOURCE Biogen Boston Scientific STATE STREET. Raytheon Liberty Mutual. Home to 114 Colleges and Universities HARVARD TS NORTH ASTERN UNIVERSITY BOSTON UNIVERSITY Northeastern University MASS Massachusetts Institute of Technology 5 Source: The Commonwealth Information Statement dated October 28, 2020 (1) Refer to Appendix

View entire presentation