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CITY OF PLEASANTON NOTES TO BASIC FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2022 Note 2: Cash and Investments (Continued) The City's investments are rated by the nationally recognized rating organizations, and as of June 30, 2022, the ratings, as well as the percentage of credit risk expressed on a percentage basis, are as follows: Moody's Standard & Poor's Percentage U.S. Government Agencies: Federal Farm Credit Bank Aaa AA +5.90% Freddie Mac Aaa AA+7.31% Federal Home Loan Bank Aaa AA +48.61% Federal National Mortgage Association Aaa AA +4.99% Medium-Term Corporate Notes: 3M Company Al A+0.85% Apple, Inc.Aal AA +5.41% Berkshire Hathaway Inc.Aa2 AA 0.66% Bank of New York Mellon Al A 0.88% CitiBank NA Aa3 A+0.44% JPMorgan Chase Bank NA NR A+1.18% Microsoft Inc.Aaa AAA 1.53% PACCAR Financial Corp.Al A+0.57% Toyota Motor Credit Corp.Aa3 AA +2.84% Truist Bank A2 A 0.83% Exxon Mobil Corp Aal AA 2.16% Supranationals: International Finance Corp Aaa AAA 0.40% Concentration of Credit Risk – The City's Policy has the same maturity limits as the California Government Code. The City is allowed to purchase mutual funds up to 20 percent of the value of the portfolio. There are no specified maximum percentages for U.S. Treasury Obligations, U.S. Agencies, and the external investment pool (California Local Agency Investment Fund). The City is in compliance with these provisions of the Policy. Investments in the securities of any individual issuers, other than U.S. Treasury Securities, mutual funds and the California Local Agency Investment Fund, that represent 5 percent or more of the City’s total investments are as follows as of June 30, 2022: Amount Invested Percentage of Investments Federal Farm Credit Bank 16,390,247$ 5.90% Federal Home Loan Bank 107,215,664 48.61% Freddie Mac 17,850,681 7.31% Apple, Inc. 16,194,736 5.41% U.S. Government Agencies 68