Federal National Mortgage Association announced that on November 5, 2024, Scott D. Stowell was appointed to the Board of Directors of Fannie Mae effective as of that date. Mr. Stowell?s appointment is until the earlier of: (1) the next annual election of Board members; or (2) the date on which he resigns or is removed by the Federal Housing Finance Agency, as conservator, while Fannie Mae is in conservatorship. Mr. Stowell has been appointed to serve on the Community Responsibility and Sustainability Committee and the Nominating and Corporate Governance Committee of Fannie Mae?s Board of Directors, effective December 1, 2024.

Mr. Stowell, age 67, has nearly 40 years of experience in the U.S. homebuilding industry, including single-family homes, mixed-use communities, and projects meeting local governments? affordability requirements. His experience and qualifications include the following: Founder, Chief Executive Officer, and President of Capital Thirteen LLC, a company that specializes in advisory, real estate investment, and angel investing (2019?current).

Executive chairman of CalAtlantic Group Inc., a publicly-traded company that specialized in homebuilding (2015?2018); after CalAtlantic Group?s merger with Lennar Corporation, retired as executive chairman and served on the board of directors of Lennar Corporation (2018?2021). Various positions at Standard Pacific Homes (CalAtlantic Group?s predecessor) beginning in 1986, including as Chief Executive Officer (2012-2015), President (2011-2015), and Chief Operating Officer (2007?2011). HomeAid America, a non-profit organization whose mission is to help people experiencing or at risk of homelessness build new lives through construction, community engagement, and education: member of the Board of Directors (2013?current), former Executive Committee member (2013?2023), past Chair (2017?2018).

Member of the Board of Directors at Toll Brothers, a home-building company (2021?current); lead independent director and member of the Nominating and Corporate Governance Committee. Board member of Pacific Mutual Holding Company (2013?current); member of the Governance and Nominating Committee and Chair of the Talent Development and Compensation Committee. Based on its review of the relevant facts and circumstances, Fannie Mae?s Board of Directors determined that Mr. Stowell is an independent director.