Fannie Mae-No Politics (FNMA)

[Louie_Louie]

JPS purchase contract, more no bueno info:

The Preferred Stock will not be convertible into or exchangeable for any of our other stock or obligations
and will have no preemptive rights.

The following are deemed not to materially and adversely affect the interests of the Holders of Preferred
Stock:
‚ any increase in the amount of authorized or issued Preferred Stock; or
‚ the creation and issuance, or an increase in the authorized or issued amount, of any other class or series
of our stock, whether ranking prior to, on a parity with or junior to the Preferred Stock as to dividends
or liquidation or otherwise.

5. No Conversion or Exchange Rights.
The Holders of shares of Preferred Stock will not have any rights to convert such shares into or
exchange such shares for shares of any other class or classes, or of any other series of any class or classes, of
stock or obligations of Fannie Mae.