#1 Grant of time-vested restricted stock units ("RSUs") under the Amended and Restated 2008 Omnibus Incentive Plan ("Plan") of the Federal Agricultural Mortgage Corporation ("Farmer Mac") for no consideration. Each RSU represents the contingent right to receive, upon vesting, one share of Farmer Mac's Class C Non-Voting Common Stock. Includes three equal installments of 171 RSUs, each of which will vest on March 31, 2025, March 31, 2026, and March 31, 2027, respectively, if the Reporting Person remains an employee of Farmer Mac on those dates.

#2 In addition to the RSUs reported in this filing, includes 2,512 unvested RSUs previously granted under the Plan, as described in more detail in the Reporting Person's prior filings under Section 16 of the Securities Exchange Act of 1934.

#3 This is the target number of performance-based RSUs granted under the Plan for no consideration. Those RSUs will vest on March 31, 2027 if Farmer Mac meets performance objectives related to cumulative core earnings before credit during the performance period of January 1, 2024 to December 31, 2026, subject to "gatekeepers" related to compliance with regulatory capital requirements and specified asset quality metrics, as specified in the related award agreement.

#4 Any adjustments to the target award will be reported at the time of the actual determination of performance as compared to the applicable threshold. In no event, however, will the number of shares actually awarded upon vesting exceed 200% of the number of RSUs in the target award.

#1 On March 31, 2024, (i) 310 restricted stock units vested as the third installment of the time-based award granted in March 2021, for which the Federal Agricultural Mortgage Corporation ("Farmer Mac") retained 149 shares to satisfy withholding requirements, (ii) 483 performance-based restricted stock units vested that were granted in March 2021 (465 target units vesting at a 103.7754% performance factor), for which Farmer Mac retained 232 shares to satisfy withholding requirements, (iii) 224 restricted stock units vested as the second installment of the time-based award granted in March 2022, for which Farmer Mac retained 108 shares to satisfy withholding requirements, and (iv) 212 restricted stock units vested as the first installment of the time-based award granted in March 2023, for which Farmer Mac retained 102 shares to satisfy withholding requirements.

#2 In accordance with a policy adopted by the Human Capital and Compensation Committee of Farmer Mac's Board of Directors, the price used for the calculation of the number of shares withheld by Farmer Mac in satisfaction of tax liability is the closing price of Farmer Mac's Class C Non-Voting Common Stock on the New York Stock Exchange on the last trading day before the vesting date.

#3 Includes 2,071 unvested restricted stock units previously granted pursuant to Farmer Mac's Amended and Restated 2008 Omnibus Incentive Plan. The grants of restricted stock units have been described in detail in Farmer Mac's prior filings with the Securities and Exchange Commission. The total amount of securities beneficially owned has been adjusted since the Reporting Person's last filing to reflect 18 more shares that vested on March 31, 2024 as a result of applying a 103.7754% performance factor to 465 target restricted stock units granted in March 2021.