Farmer Mac reports record 2022 results; raises quarterly dividend 16% to $1.10

Full Year 2022 and Recent Highlights • Added $9.0 billion of gross business volume, resulting in net growth of $2.3 billion • Net interest income grew 22% year-over-year to $270.9 million • Net effective spread 1 increased 16% from the prior-year period to a record $255.5 million • Net income attributable to common stockholders increased 36% year-over-year to $151.0 million • Record core earnings 1 of $124.3 million, or $11.42 per diluted common share, reflecting 9% growth year-over-year • 90-day delinquencies were 0.17% across the entire $25.9 billion portfolio as of year-end • Maintained strong capital position with total core capital of $1.3 billion, exceeding statutory requirement by 64% and a Tier 1 Capital Ratio of 14.9% as of year-end • On February 22, 2023, Farmer Mac's Board of Directors raised the quarterly dividend on common stock by 16% to $1.10 per share, the twelfth consecutive annual increase $ in thousands, except per share amounts Quarter Ended Year Ended Dec. 31, 2022

$ in thousands, except per share amounts Quarter Ended Year Ended Dec. 31, 2022 Dec. 31, 2021 YoY % Change Dec. 31, 2022 Dec. 31, 2021 % Change Net Change in Business Volume $595,444 $495,672 N/A $2,307,619 $1,690,368 N/A Net Interest Income (GAAP) $73,635 $53,836 37% $270,940 $221,951 22% Net Effective Spread (Non-GAAP) $71,103 $54,333 31% $255,529 $220,668 16% Diluted EPS (GAAP) $3.36 $2.49 35% $13.87 $10.27 35% Core EPS (Non-GAAP) $3.16 $2.76 14% $11.42 $10.47 9%