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City of Santa Ana Proposal for Financial Advisory and Dissemination Agent Services August 8, 2025 basis point. After final sizing adjustments, the final TIC was reduced to 4.33%, outperforming the 4.42% estimate previously presented to City Council on April 7. • Describe any specific debt issuance expertise that your firm possesses. UFI is intentionally structured to support cities like Santa Ana—not just during bond issuance, but across the full spectrum of financial decision-making. As demonstrated through our prior work with the City, we provide comprehensive support throughout the bond issuance process, including assisting with the selection and procurement of key financing team members such as underwriters. Our municipal advisors and consultants bring diverse backgrounds across public finance disciplines, allowing us to offer the City a comprehensive blend of qualifications, insights, and resources. In addition, as noted above, we have decades of experience advising public agencies on a wide variety of debt instruments,from general fund-backed obligations to enterprise and land-secured financings. 0 Unmatched Experience with Santa Ana: No other municipal advisory firm has more experience working with the City of Santa Ana over the past decade. Since 2013 we have advised the City on a ! broad range of financings and policy initiatives, developing deep institutional knowledge and strong working relationships with City staff.This long-standing partnership uniquely positions us to support the City with a full understanding of its financial goals,operational priorities, and policy considerations. Technical Competence: We offer the technical depth needed to structure and evaluate a wide range of financing options, including nuanced and tailored credit structures. For General Fund-backed financings, we assist clients in deve9oping long-term capital funding strategies and provide analysis of insured property values used for collateral.In the case of enterprise revenue credits,we work closely with clients to review rate studies and develop revenue forecasts that inform optimal funding plans. Post-issuance, we remain actively involved, helping clients manage and monitor their debt portfolios to ensure ongoing financial performance and compliance. 0 Credit Expertise: UFI has extensive experience presenting municipal credits to rating agencies and crafting compelling rating presentations that highlight the unique strengths of each issuer. Our deep involvement in Southern California has given us a thorough understanding of local economies,allowing us to effectively position our clients'credit profiles.By combining regional insight with a strong grasp of rating agency methodologies, we consistently help our clients achieve favorable rating outcomes. Most recently, UFI worked alongside the City's financing team to secure a"AA"rating on the City's 2024 Water Revenue Bonds.In addition,in 2019,we advised the City on the 2019 Gas Tax Refunding bonds. By highlighting the City's robust local economy, healthy liquidity and budget flexibility, and strong coverage and liquidity for the gas tax fund, we were able to help the City achieve a rating upgrade from Standard&Poor's to"AA-"from "A." Pricing Execution:The UFI team assigned to the City includes former public finance investment bankers 00 with deep expertise in the underwriting and pricing of municipal securities. Our team actively monitors the municipal bond market to ensure optimal timing and pricing execution, even under challenging market conditions. We advocate for pricing strategies that balance competitiveness with investor demand,typically recommending that the underwriter pursue an aggressive approach targeting at least two times oversubscription. In addition to ensuring fair market spreads, UFI collaborates with underwriters to analyze alternative couponing, optional redemption features, and other structuring options,with the goal of achieving the lowest cost of capital and best terms for our clients. UFI 10