FEDERAL AGRICULTURAL MORTGAGE CORP

Federal Agricultural Mortgage Corporation, trading as Farmer Mac on the NYSE under ticker symbols AGM.A (Class A voting common stock) and AGM (Class C non-voting common stock), operates as a government-sponsored enterprise established under Title VIII of the Farm Credit Act of 1971. The company maintains its website at www.farmermac.com.

Farmer Mac provides a secondary market for agricultural and rural infrastructure financing, combining private capital with public sponsorship to increase the accessibility of financing for rural America and American agriculture. The company purchases eligible loans directly from lenders, guarantees securities issued by financial institutions, issues and guarantees securities backed by pools of eligible loans, services loans including as master servicer, and provides long-term standby purchase commitments for eligible loans.

The company operates through seven reportable segments organized within two primary lines of business. Agricultural Finance encompasses the Farm & Ranch and Corporate AgFinance segments, serving smaller farming operations and larger, more complex agricultural enterprises respectively. Infrastructure Finance includes Power & Utilities, Broadband Infrastructure, and Renewable Energy segments, financing rural electric cooperatives, telecommunications facilities, and renewable energy projects. Treasury-related operations are managed through Funding and Investments segments.

Farmer Mac generates revenue primarily through net interest income on loans and securities held on its balance sheet and through guarantee and commitment fees on outstanding guaranteed securities and long-term standby purchase commitments. The company funds its operations by issuing debt obligations of various maturities in public capital markets and maintains liquidity investments in accordance with regulatory requirements.

As of December 31, 2025, Farmer Mac employed 212 people distributed across 29 states and the District of Columbia, with significant concentrations in the Washington, D.C. area and Johnston, Iowa, as well as a fully remote workforce. The company is regulated by the Farm Credit Administration and operates as a federally chartered corporation with a unique capital structure featuring Class A voting common stock restricted to non-Farm Credit System financial institutions, Class B voting common stock restricted to Farm Credit System institutions, and freely transferable Class C non-voting common stock.