Fannie Mae-No Politics (FNMA)

[Louie_Louie]

FNMAS certificate of designation

the number of shares initially constituting the Series
S Preferred Stock is 280,000,000, which number of shares may be increased by the Board of Directors of
Fannie Mae, or a duly authorized committee thereof, in accordance with Section 7 below. Shares of
Series S Preferred Stock will have no par value and a stated value of $25 per share. Shares of Series S
Preferred Stock will have no stated maturity date,