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City of Santa Ana <br />Pension Obligation Bonds <br />Scenario 1 - Base Case <br />Amounts in $000s <br />Long -Term UAL Funded by POB % UAL Funded Balance 6/30/22 Deposit <br />Total Par Amount 359,405.000 <br />Total UAL Funded 350,698.072 50.00% 701,395.050 328,682.392 <br />Miscellaneous - 0.00% 292,703.672 - <br />Safety 350,698.072 85.81% 408,691.378 328,682.392 <br />Summary Statistics <br />Total <br />Miscellaneous <br />Safety <br />Average Life <br />14.8 years <br />14.8 years <br />TIC <br />3.009% <br />3.009% <br />All -in TIC <br />3.028% <br />3.028% <br />Financial PV Savings (% of Par) <br />42.52% <br />0.00% <br />42.52% <br />Financial PV Savings <br />152,825.543 <br />(0.000) <br />152,825.543 <br />Cumulative Savings <br />184,522.630 <br />(0.000) <br />184,522.630 <br />Budgetary Savings (vs FY22 UAL) <br />38,562.276 <br />Savings (FY22-26) <br />57,232.147 <br />- <br />57,232.147 <br />Maximum Annual Debt Service <br />33,847.220 <br />- <br />33,847.220 <br />Maximum Annual Total Obligation <br />54,919.732 <br />33,650.418 <br />33,847.220 <br />Actuarial PV Savings (% of Par) <br />33.99% <br />0.00% <br />33.99% <br />Actuarial PV Savings <br />122,177.961 <br />(0.000) <br />122,177.961 <br />80,000 <br />70,000 <br />60,000 <br />50,000 <br />40,000 <br />30,000 <br />20,000 <br />10,000 <br />01L Otis OVA Otih OHO 0�1 Otis Oti0 O''O O�ti O''L O''li O''A O�h O''�o 0�1 O''4� O''Ci Otp OA, Opti Ot' i O 00� Obi Ob1 Ob'b Obi Oho <br />ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti <br />Debt Service Unrefunded UAL -Current UAL FY22 UAL <br />Deposit Date 7/15/2021 <br />Deposit Discount Factor 0.937223 <br />Miscellaneous Safety Total <br />POB Proceeds 328,682.392 - 328,682.392 <br />Discounting (Actuarial Rate) 22,015.680 - 22,015.680 <br />UAL Payment 350,698.072 - 350,698.072 <br />BofA Securities - Preliminary Analysis 3/10/2021 Page 2 of 18 <br />