Issuu

FOCUSED ON SUPPORTING YOUR VISION

Annual Report

FOCUSED ON SUPPORTING YOUR

The board of directors remains committed to returning to members earnings not needed to operate or capitalize the cooperative. For the full year 2025, customer-owners received $145 million in patronage dividends. This represents 1.25% of average eligible loan volume. Over the past several years, Farm Credit East has been modernizing our business to best serve customers in the future. We have developed a regional service approach, with dedicated teams to support specialized and consistent delivery of credit and financial services. Strong earnings have allowed us to increase our technology investment to stay competitive, meet regulatory expectations and better serve customer needs. Though much of this foundational work isn’t yet visible to customer-owners, we appreciate your patience as we build systems that will deliver more customer value. We are committed to this journey and will continue advancing these priorities in the year ahead.

As we transform our cooperative capabilities, we’ve also transformed how we engage with you. Regional Advisory Committees now provide structured opportunities to share your perspective and help guide priorities. Our newly launched business meeting series creates ongoing dialogue about where your cooperative is heading and why. Two Young, Beginning, Small, Veteran (YBSV) advisors now bring next-generation insights directly to board discussions. During a period of significant change, your voice matters more than ever. We will continue to build these engagement channels in 2026.

2025 marked a year of growth for your cooperative. Loan volume grew to over $14 billion, and financial services revenue exceeded $30.8 million. We welcomed 60 new team members to support both current operations and our evolution for the future. We also made meaningful progress on our transformational journey guided by our

We remain committed to rural communities and the next generation of agriculture leaders that are the foundation of our cooperative. Through scholarships, programs supporting Northeast rural communities, and our employee sponsored Farm Credit East Cares fund, we’re investing in the people and organizations that will shape agriculture’s future. As a cooperative, we have a responsibility to strengthen the communities our customer-owners call home, so our stewardship efforts are central to who we are. This commitment will continue to grow alongside our cooperative. In the year ahead, Farm Credit East will continue to evolve our cooperative with purpose, while maintaining the same mission-driven strength that helps both our teammates and customer-owners stay focused on the future. Thank you for your partnership and your trust. We’re committed to earning it every day as we build a stronger future together.

strategic pillars: • Outstanding customer and employee experience • Operational excellence • Quality growth • Stewardship within our communities • Protecting customer information FOCUSED ON SUPPORTING YOUR VISION

/s/ Mike Reynolds, CEO /s/ John Knopf, Chair

Loan Volume

Net Income

Members' Equity

billion

million

14.3

367

2.6

billion

REMAIN STRONG

Farm Credit East financial results Patronage • $1.7 billion

Following the patronage distribution on 2025 earnings, customer-owners of Farm Credit East (and predecessor cooperatives) have received more than $1.7 billion in dividends from ownership of their cooperative. In 2026, the cooperative will pay its 30th consecutive annual patronage payment.

Financial Services • $30.8 million

Farm Credit East’s financial services, including payroll, tax, business consulting and crop insurance, continue to provide value and expertise to customer businesses.

Country Living Loans • $1.6 billion

Farm Credit East’s mortgage lending arm provides unique financing for rural homes, farms and land, and serves an important and growing customer segment for Farm Credit East.

Crop Growers • $629 million

Crop Growers crop insurance agents help Northeast producers make informed risk management decisions to protect their operation. In 2025, Northeast producers insured 700,000 acres through Crop Growers, with $629 million of protection in force.

Stewardship • $2.6 million

Farm Credit East is committed to supporting programs that enrich the agriculture, forest products and commercial fishing industries as well as rural communities; programs that support new entrants and the industry’s next generation; and organizations promoting diversity and inclusion.

FarmStart • $20.2 million

This unique program for startup entrepreneurs has invested in more than 400 beginning farm and fishing businesses. FarmStart is one of Farm Credit East’s many efforts to support young and beginning farmers. Other programs include incentives to assist young, beginning, small and veteran producers, as well as GenerationNext training seminars.

Farm Credit East 2025 Annual Report

2025 BOARD OF DIRECTORS

Front Row Laurie K. Griffen / Saratoga Sod Farm, Inc., Stillwater, N.Y. Jay W. McWatters / Outside Director, Hamburg, N.Y. John P. Knopf, Chair / Fa-Ba Farms, LLC, Canandaigua, N.Y. LouAnne F. King, Vice Chair / Mapleview Dairy, LLC, Madrid, N.Y. Peter H. Triandafillou / Appointed Director, Old Town, Maine Middle Row Amy L. Walker-Bailey / Walker Farms, LLC, Fort Ann, N.Y. Philip “Jamie” Jones / Jones Family Farm and Jones Family Farms Winery, LLC, Shelton, Conn. James A. Robbins II / Robbins Lumber, Inc., Searsmont, Maine James V. Crane / Crane Bros. Inc., Exeter, Maine Terry R. Zittel / Amos Zittel & Sons, Inc., Eden, N.Y.

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Back Row Kyle Thygesen / Farmstead at Falls Hill, LLC, Tunbridge, Vt. Christopher Cebula / Outside Director, Honeoye Falls, N.Y. Brett D. Kreher / Kreher Family Farms, Clarence, N.Y. Douglas W. Shelmidine / Sheland Farms, LLC, Adams, N.Y. Joel R. Viereck / Viereck Farms LLC, Woolwich, N.J. David F. Folino / Hillsboro Sugarworks, Starksboro, Vt.

Farm Credit East 2025 Annual Report

2026 PRIORITIES

Evolving with Purpose

ver the last five years, your cooperative has been on an intentional journey to enhance how we serve our customers. We’ve committed resources

and made significant investments to transform our business strategically and with purpose. Our 2026 priorities focus on engaging customers and rural communities, while innovating our tools and products. We remain mission driven. Our team and the relationships we have with our customers are at the core of our business. As the agricultural industry faces challenges, Farm Credit East remains strong and committed to being a reliable partner to our customers. We’ll continue to evolve to provide enhanced value to our customer owners. This includes modernizing our credit delivery to create a more consistent lending experience. It also includes a continued focus on protecting customer information. As we evolve our credit and financial services delivery, technology will never outpace trust. FOCUSED ON SUPPORTING YOUR VISION

Local communities are at the heart of our organization. Over the past 11 years, our employee-initiated and employee-funded Farm Credit East Cares program has contributed $1.5 million to various organizations. In 2024, we launched a new grant program focused on improving Northeast food security. Last year, we designated funds for Regional Advisory Committee members to distribute to community organizations. These programs, in addition to our annual scholarships and other ongoing stewardship efforts, contributed a collective $2.6 million to Northeast rural communities in 2025. This will continue to be a priority in 2026. We’re moving your cooperative forward with purpose. Farm Credit East remains committed to supporting customer goals with consistent and personalized credit and financial services. And while we’re evolving how we do business, we remain grounded in what matters most: Our roots in agriculture, our commitment to customer-owners, and our focus on long-term strength.

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Financial Statements

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FARM CREDIT EAST, ACA CONSOLIDATED FIVE-YEAR SUMMARY OF SELECTED FINANCIAL DATA December 31

(dollars in thousands)

BALANCE SHEET DATA

Loans Less: Allowance for credit losses on loans Net loans Cash Investment in CoBank, ACB Other assets Total assets Obligations with maturities of one year or less Obligations with maturities greater than one year Total liabilities Capital stock and participation certificates Additional paid-in capital Unallocated retained earnings Accumulated other comprehensive loss Total members' equity Total liabilities and members' equity

2025 $

$ $

2024

14,256,227 96,319 14,159,908 36,000 368,228 249,076 14,813,212

254,930 11,928,497 12,183,427 19,893 354,163 2,263,907 (8,178) 2,629,785 14,813,212

2023

2022

2021*

12,917,865 78,272 12,839,593 25,252 332,231 218,597 13,415,673

$ 11,503,603 66,253 11,437,350 31,259 295,590 196,393 $ 11,960,592

$ 10,572,766 51,465 10,521,301 36,778 279,196 175,700 $ 11,012,975

$ 9,074,791 80,335 8,994,456 20,345 258,584 149,230 $ 9,422,615

266,434 10,762,587 11,029,021 19,481 354,163 2,042,072 (29,064) 2,386,652 13,415,673

287,100 9,498,822 9,785,922 18,956 354,163 1,845,429 (43,878) 2,174,670 $ 11,960,592

300,544 8,704,819 9,005,363 18,374 354,163 1,720,025 (84,950) 2,007,612 $ 11,012,975

203,067 7,452,909 7,655,976 16,688 229,198 1,565,415 (44,662) 1,766,639 $ 9,422,615

For the Year Ended December 31 2025 STATEMENT OF COMPREHENSIVE INCOME DATA

Net interest income Provision for (reversal of) credit losses Noninterest expenses, net Provision for income taxes Net income

Comprehensive income

420,703 24,024 25,852 3,992 366,835

387,721

KEY FINANCIAL RATIOS

Return on average assets Return on average members' equity Net interest income as a percentage of average earning assets Members' equity as a percentage of total assets Debt to members' equity Net (charge-offs) recoveries as a percentage of average loans Allowance for credit losses as a percentage of loans and accrued interest receivable Common Equity Tier 1 Capital (CET1) Tier 1 Capital Total Capital Tier 1 Leverage Unallocated Retained Earnings and URE Equivalents (UREE) Leverage Permanent Capital Net income distribution Cash patronage declared Special cash patronage declared

2024

$ $

2023 $

378,555 11,462 27,688 2,762 336,643

351,457

2022 $

317,538 11,747 33,234 2,509 270,048

311,120

2021* $

279,661 (34,118) 40,181 1,988 271,610

236,033 29,182 1,454 205,397

231,322

194,887

2.66% 14.47%

2.70% 14.63%

2.43% 12.87%

2.59% 13.88%

2.33% 11.97%

3.17%

3.16%

2.96%

2.77%

2.79%

17.75% 4.6:1

17.79% 4.6:1

18.18% 4.5:1

18.23% 4.5:1

18.75% 4.3:1

(0.07%)

(0.04%)

(0.02%)

0.00%

0.75% 15.49% 15.49% 16.19% 16.92%

0.72% 15.82% 15.82% 16.51% 17.25%

0.74% 16.42% 16.42% 17.08% 18.00%

0.59% 16.55% 16.55% 17.05% 17.91%

1.06% 16.11% 16.11% 17.13% 17.35%

16.78% 15.20%

17.10% 15.50%

17.83% 16.10%

17.74% 16.26%

19.23% 16.24%

145,000 -

$ $

131,600 8,400

$ $

120,000 10,000

$ $

117,000 -

$ $

91,000 -

*Information presented prior to 2022 does not include Yankee Farm Credit.

Farm Credit East 2025 Annual Report

FARM CREDIT EAST, ACA

MANAGEMENT’S DISCUSSION AND ANALYSIS The following discussion summarizes the financial position and results of operations of Farm Credit East, ACA (Farm Credit East or the Association) as of December 31, 2025, with comparisons to prior years. The commentary includes material known trends, commitments, events or uncertainties that have impacted or are reasonably likely to impact our financial condition and results of operations. The following discussion and analysis should be read in conjunction with the accompanying consolidated financial statements, footnotes and other sections of this Annual Report. The accompanying consolidated financial statements were prepared under the oversight of the Audit Committee. Farm Credit East’s Annual and Quarterly reports to stockholders are available on the Association’s website, FarmCreditEast.com, or can be obtained free of charge by calling the Association’s main office at 860-741-4380. Annual reports are available 75 days after year end and quarterly reports are available 40 days after each calendar quarter end. Dollar amounts are in thousands unless otherwise noted. BUSINESS OVERVIEW Farm Credit East is a direct lending institution of the Farm Credit System (the System). We are one of 55 associations in the System which was created by Congress in 1916 and has served agricultural producers for over 100 years. The System’s mission is to provide sound and dependable credit to American farmers, ranchers, producers or harvesters of aquatic products, timber products and farm-related businesses through a member-owned cooperative system. This is done by making loans and providing financial services. The Farm Credit Administration (FCA) is the System’s independent safety and soundness federal regulator and was established to supervise, examine and regulate System institutions. As a cooperative, we are owned by the members we serve. The territory we serve extends across a diverse agricultural region covering the states of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont. The Association makes short and intermediate-term loans for agricultural production and long-term real estate mortgage loans. The Association’s business units conduct this lending activity through our retail branch marketplace (traditional farm, forestry and fishing loans), capital markets team (large purchased and sold loans with System partners and commercial banks), and Country Living team (residential loans). Additionally, we provide other related services to our borrowers, such as financial recordkeeping, payroll, tax return preparation, tax planning, farm accounting software, fee appraisals, farm business consulting, leasing, credit life insurance and multi-peril crop insurance, as an agent. Our success begins with our extensive agricultural experience and knowledge of the market. As part of the System, the Association obtains the funding for its lending and operations from CoBank, ACB (CoBank). CoBank is a cooperative of which Farm Credit East is an owner and member. CoBank is a financial and strategic partner to the Association and provides loan pricing for Association customers and supports the Association’s equity positioning strategies. CoBank is also a significant partner with participation loan sharing activity for both purchased and sold loans. The Association, along with other Farm Credit System 3

FOCUSED ON SUPPORTING YOUR VISION

(FCS) entities, also purchases payroll and other human resource services from CoBank. The Association is materially affected by CoBank’s financial condition and results of operations. To obtain a free copy of the CoBank Annual Report to Stockholders, please contact one of our offices or visit CoBank’s website at www.cobank.com. We purchase technology services from Farm Credit Financial Partners, Inc. (FPI). We are an owner of FPI, along with other FPI customers. YEAR IN REVIEW Farm Credit East benefits from serving a diverse portfolio of loans from the farm, forest products and fishing industries, each of which has its own unique set of economic drivers. Financial results for producers typically vary substantially by industry and then from one business to the next. In 2025, producers across many sectors faced challenges with rising input costs, as well as increased labor costs and staffing shortfalls. Producers of row crops, such as corn and soybeans, were particularly challenged due to low commodity prices. As you will see in this report, Farm Credit East experienced another year of strong financial performance in 2025. Net income was $366.8 million with a return on average assets of 2.66%. Loans outstanding increased $1.4 billion to $14.3 billion as of December 31, 2025. From its 2025 earnings, the Association declared patronage dividends totaling $145.0 million, all of which will be distributed in cash in 2026. Loan credit quality remains strong with 93.3% acceptable at December 31, 2025, essentially unchanged from the prior year. The Association’s allowance for credit losses totaled $107.4 million as of December 31, 2025, or 0.75% of total loans. The Association’s financial position remains strong as of December 31, 2025, with $2.6 billion in members equity and capital ratios well above regulatory minimums, despite 23.9% loan growth in the last two years reducing capital ratios. THE FARM ECONOMY The issues most impacting the farm economy in 2025 were labor, inflation, and for many crops, depressed market prices, in part due to trade disputes. Inflation has moderated somewhat but remains above the Federal Reserve’s 2% target (2.7% as of December 2025), and farm labor markets continue to be tight, creating staffing challenges and putting upward pressure on wages. The Federal Reserve made three rate cuts in 2025, bringing interest rates closer to historical averages, but still higher than in the recent past. AGRICULTURAL OVERVIEW Dairy: Northeast dairy farms continue to show a range of operating results, but most farms had a reasonably profitable year in 2025. Milk prices decreased by about $1.40-1.80/cwt from 2024’s average but remained favorable by historical standards. Milk prices are projected to decline further by more than $2.50/cwt in 2026, which will squeeze producer margins. Beef-on-dairy and cull cow sales have become increasingly important to overall farm profitability. 2025 milk production showed year-over-year increases in New York (+4.5% for the year) and Vermont (+2.5%). Overall U.S. milk production increased by 2.5% in 2025, compared to the prior year.

Cash Field Crops: This category includes corn for grain, soybeans, hay, wheat and some small grains. Growing conditions were generally favorable nationwide, leading to bumper crops. This, combined with trade disputes, led to national surpluses of many row crops, and depressed prices. Prices for grains and oilseeds remained low in 2025 and are below the cost of production for many farmers. Producers’ levels of financial stress will depend in large part on their savings from past harvest years, debt load and government payments received. Timber and Forest Products: The forest products industry encompasses a variety of business types, ranging from timberland ownership to sawmills and loggers. Overall demand for both hardwood and softwood logs and pulpwood remain soft, and prices have yet to recover from recent declines, tied to slower housing construction, and mixed results from pulp and paper mills. Overall trends continued in end use paper markets, with free sheet, super calendar and newsprint remaining under pressure and declining, while container board, packaging and tissue have been returning positive margins. Logging continues to face headwinds, especially for those that rely on selling raw logs versus those that operate under service contracts. Livestock: In the Northeast, this is a very diverse sector ranging from beef to other protein producers, both full and part-time, as well as equine, which itself can be broken down into racing/breeding, boarding and training enterprises, and recreational activities. Strong demand continues to support high prices for animal proteins, particularly beef. Robust demand continues for local and value-added meats and poultry, but some producers report limited availability of slaughter and processing capacity. Beef prices remained exceptionally high in 2025 and are expected to continue to be so through 2026, benefitting producers of beef cattle as well as dairy producers’ cull cows and those who breed dairy/beef crosses. Fruit: This is a diverse category consisting of fresh market and processing apples, grapes for juice, farm wineries, small fruits, cranberries and more. 2025 was a relatively good growing season for Northeast apple growers, although there were some localized issues of hail and frost. Pricing and movement have been good. New York’s apple production came in at 1.45 million pounds, about 12% over 2024’s harvest. Washington state’s production was also substantially higher than in 2024. Despite the large crop, pricing and demand in the Northeast has been solid. Globally, wineries had a challenging year. While Eastern U.S. wineries have generally outperformed many of their Western peers, they were not immune to major consumer trends away from drinking wine. Higher-quality winemakers and those providing superior customer experiences have done better than average, but visitor traffic and sales were down across most Northeast wineries.

Massachusetts’ 2025 cranberry production came to 1.75 million barrels, down from 2.25 million in 2024. Wisconsin’s production also decreased from the prior year. However, Canadian production more than made up the shortfall. The larger crop has put downward pressure on pricing. Greenhouse and Nursery: While there remains considerable variation between firms in this industry, 2025 green industry sales generally met expectations, and were about flat with 2024. Margins seem to be holding, but volumes are off for some producers. Inventories have substantially increased from the previous couple of years, which may weigh on nursery producers in coming seasons. Aquatic / Fishing: The lobster catch in Maine was smaller in 2025, compared to the prior year, but favorable pricing helped compensate for the lower landing volume. The 2025-26 scallop season has been mixed, with lower total landings, but very favorable pricing. For groundfish, pricing and catch have been stable over the prior year. Manufacturing, Marketing & Processing: Value-added businesses that process, market and/or otherwise add value to raw agricultural commodities are eligible for financing when they are owned by eligible borrowers, or when organized as a cooperative and financed by CoBank under its lending authorities. In addition to directly financing such eligible borrowers, Farm Credit East purchases loan participations through CoBank, other System entities and commercial banks. Businesses range in size from small farm-based specialty food processors to large marketing cooperatives. These loans encompass diverse businesses including sawmills, dairy processing, fruit juice, canned and frozen vegetables, preparation of fresh vegetables and fruits, and seafood processing. There is a wide range of economic drivers and financial performance among these companies. These businesses are a critical component of the farm, forest and fishing economy as they create markets for commodities, value-added opportunities for producers, jobs and economic activity in local communities, often in rural areas. LOAN PORTFOLIO Loans outstanding increased to $14.3 billion as of December 31, 2025, compared to $12.9 billion at December 31, 2024, an increase of $1.4 billion, or 10.4%. The year-over-year growth in loan volume was seen in all lending areas led by our capital markets credit team which handles the Association’s larger and more complex loan relationships including the purchases of loans made by other affiliated System Banks and Associations and commercial banks. The capital markets portfolio grew $442.0 million or 10.6%. Our branch marketplace-based farm loan portfolio grew $810.9 million, or 11.3%, as strong demand for agricultural products continues to benefit our local producers. The residential Country Living Loans mortgage program grew $85.4 million, or 5.6% as reasonably strong demand in our Local Service Area (LSA) continues. Commodities experiencing the strongest growth were dairy, cash field and timber with increases of $301.5 million, $221.4 million and $197.4 million, respectively over December 31, 2024

Farm Credit East 2025 Annual Report

Loans by loan type are reflected in the following table. December 31are 2024 2023 Loans by loan type reflected in the following table. 2025 Loans by loan type are reflected in the following table. 37.0% 38.7% Real estate mortgage $$ 5,127,014 36.0% $$ 4,775,932 37.0% $$ 4,453,459 Production 4,784,408 33.6 4,112,724 31.8 3,728,814 32.4 Production and intermediate 4,784,408 33.6 4,112,724 31.8 3,728,814 32.4 Decemberand 31 intermediate 2025 2024 2023 24.2 Agribusiness 3,382,077 23.7 3,121,886 24.2 2,563,179 22.3 Real estate mortgage $ 5,127,014 36.0% $ 4,775,932 37.0% $ 4,453,459 38.7% 5.9 5.5 Rural infrastructure 797,128 5.6 766,220 5.9 636,870 5.5 Production and intermediate 4,784,408 33.6 4,112,724 31.8 3,728,814 32.4 Rural residential real estate 117,076 0.8 97,984 0.8 80,044 0.7 0.8 0.7 Agribusiness 3,382,077 23.7 3,121,886 24.2 2,563,179 22.3 0.3 0.4 Other 48,524 0.3 43,119 0.3 41,237 0.4 Rural infrastructure 797,128 5.6 766,220 5.9 636,870 5.5 Total $ 14,256,227 100.0% $ 12,917,865 100.0% $ 11,503,603 100.0% Rural Loans residential real estate 117,076 0.8 97,984 0.8 80,044 0.7 Other 48,524 0.3 43,119 0.3 41,237 0.4 While we make loans and provide financial related services to qualified borrowers in 100.0% agricultural and rural sectors Total Loans $ 14,256,227 100.0% $ 12,917,865 $ 11,503,603 100.0%

and to certain related entities, our loan portfolio is diversified by loan participations purchased and sold, geographic locations commodities financed, andrelated loan size. While weserved, make loans and provide financial services to qualified borrowers in agricultural and rural sectors While we make loans and provide financial related services to qualified borrowers in agricultural and rural sectors and to certain related entities, and to certain related entities, our loan portfolio is diversified by loan participations purchased and sold, geographic our loan portfolio is diversified by loan participations purchased and sold, geographic locations served, commodities financed, and loan size. locations served, purchases commodities and loan size. The Association loanfinanced, participations from other System and non-System entities to generate additional earnings and diversify risk related to existing commodities financed and our geographic area served. In addition, we The Association purchases loan participations from other System and non-System entities to generate additional earnings and diversify risk related The purchases loan participations from and other System andentities non-System entities sell aAssociation portion of certain large loans to other System non-System to reduce risk to andgenerate complyadditional with lending to existing commodities financed and our geographic area served. In addition, we sell a portion of certain large loans to other System and non-System earnings diversify risk related to existing commodities financedand andsold our geographic area served. In addition, we limits weand have established. Our volume of participations purchased as of December 31 are reflected in the entities to reduce risk and comply with lending limits we have established. Our volume of participations purchased and sold as of December 31 sell a portion of certain large loans to other System and non-System entities to reduce risk and comply with lending following table. are reflected in the following table. limits we have established. Our volume of participations purchased and sold as of December 31 are reflected in the following table. December 31 2025 2024 2023 December 31 2025 2024 2023 Purchased participations $ 3,984,724 $ 3,528,382 $ 2,979,878 Sold participations $ 1,983,709 $ 1,998,526 $ 1,876,899 December 31 2025 2024 2023 Purchased participations $ 3,984,724 $ 3,528,382 $ 2,979,878 Loans are originated and serviced within the LSA in New York, New Jersey and throughout New England. The Sold 1,983,709 $ New 1,998,526 1,876,899 New England. The geographic distribution of Loans areparticipations originated and serviced within the$LSA in New York, Jersey and$throughout geographic distribution of loans follows. As previously mentioned, we purchase loan participations outside our loans follows. As previously mentioned, we purchase loan participations outside our territory — which are included in other states in the territory —originated which areand included in other in the table. Loans are serviced withinstates the LSA infollowing New York, New Jersey and throughout New England. The following table.

geographic distribution of loans follows. As previously mentioned, we purchase loan participations outside our territory — which following table. 2023 December 31 are included in other states in the 2025 2024

New York 40% 41% 41% New Jersey 31 7 8 8 December 2025 2024 2023 Maine 7 8 8 New York 40% 41% 41% Massachusetts 6 6 6 New Jersey 7 8 8 Vermont 4 4 4 Maine 7 8 8 Connecticut 4 4 4 Massachusetts 6 6 6 New Hampshire, IslandIsland and other states 323 293 293 HampshireRhode and Rhode Vermont 4 4 4 Total 100% 100% 100% Other states 294 26 26 Connecticut 4 4 Total 100% 100% 100% New Hampshire and Rhode Island 3 3 3 The following table shows the primary agricultural commodities Other states 29 26 produced 26by our borrowers based on the Standard The following tabletable showsshows theSystem primary agricultural commodities produced by our borrowers on is theused Standard Industrial Classification Total 100% 100% Industrial Classification (SIC) published by100% the federal government. system to on assign The following the primary agricultural commodities produced byThis ourbased borrowers based the Standard System (SIC) published by the federal government. This system is used to assign commodity or industry categories based on the commodityClassification or industry categories basedpublished on the primary businessgovernment. of the customer. A primary business category isprimary business Industrial System (SIC) by the federal This system is used to assign of assigned the customer. A primary business category is assigned when the commodity or industry accounts for 50% or more of the total when the commodity or industry accounts for 50% or more of the total value of sales for a business; The following table shows the primary commodities produced by our A borrowers based on category the Standard commodity or industry categories basedagricultural on the primary business of the customer. primary business is value of sales forhowever, a business; however, a large percentage of agricultural operations typically includes more than one commodity. a large percentage of agricultural operations typically includes more than one commodity. Industrialwhen Classification Systemor(SIC) published by for the 50% federal government. Thisvalue system is used assigned the commodity industry accounts or more of the total of sales fortoaassign business;

commodity or industry categories based on operations the primarytypically businessincludes of the customer. primary business category is however, a large percentage of agricultural more thanAone commodity. December 31the commodity or industry accounts 2025 assigned when for 50% 2024 or more of2023 the total value of sales for a business; Dairy a large percentage of agricultural operations 19.3% 18.9% however, typically includes18.9% more than one commodity. Processing and Marketing Timber Livestock Cash Field Fruit Utilities Farm Services Aquatic Potato Vegetables Nursery Greenhouse All Other Total

12.4 10.3 8.8 8.6 7.4 5.4 4.6 4.4 3.2 2.9 2.3 2.1 8.3 100%

13.4 9.8 7.8 9.0 7.4 5.5 4.5 5.1 2.9 3.1 2.3 2.4 7.9 100%

12.5 10.3 8.1 9.4 7.4 5.2 4.2 5.2 2.9 3.2 2.3 2.3 8.1 100%

Credit Commitments Commitments to extend credit are agreements to lend to a borrower as long as there is not a violation of any condition established in the loan agreement contract. Commitments and letters of credit generally have fixed FOCUSED ON SUPPORTING expiration dates orYOUR otherVISION termination clauses and may require payment of a fee by the borrower. We may also participate in standby letters of credit to satisfy the financing needs of our borrowers. These standby letters of credit are irrevocable agreements to guarantee payments of specified financial obligations. The following table

Nursery Nursery Greenhouse Greenhouse All Other All Other Total Total

2.3 2.3 2.1 2.1 8.3 8.3 100% 100%

2.3 2.3 2.4 2.4 7.9 7.9 100% 100%

2.3 2.3 2.3 2.3 8.1 8.1 100% 100%

Credit Commitments Credit Commitments Commitments to extend credit are agreements to lend to a borrower as long as there is not a violation of any condition established in the are loan agreementtocontract. and lettersisof generally have fixed established Commitments to extend credit agreements lend to a Commitments borrower as long as there notcredit a violation of any condition condition established in the loan agreement contract. Commitments and credit generally have fixed expiration dates orcontract. other termination clauses and mayof require payment ofletters a fixed fee of by the borrower. We may also in the loan agreement Commitments and letters credit generally have expiration dates or other clauses expiration dates or other termination clauses and may require payment of a fee by the borrower. We maytermination also in payment standby letters of credit to satisfyWe themay financing needs ofinour borrowers. These standby letters of credit needs andparticipate may require of a fee by the borrower. also participate standby letters of credit to satisfy the financing participate in standby letters of credit to satisfy the financing needs of our borrowers. These standby letters of credit are irrevocable agreements guarantee payments of specified financial obligations. The following table of our borrowers. These standbyto of credit are irrevocable agreements to guarantee payments of specified financial obligations. are irrevocable agreements toletters guarantee payments of specified financial obligations. The following table summarizes the maturity distribution of unfunded credit commitments on loans at December 31, 2025. The following table summarizes the maturity distribution of unfunded credit commitments on loans at December 31, 2025. summarizes the maturity distribution of unfunded credit commitments on loans at December 31, 2025. Commitments to extend credit are agreements to lend to a borrower as long as there is not a violation of any CREDIT COMMITMENTS

Commitments to extend credit Commitments Standby letterstoofextend credit credit Standby letters of credit Commercial letters of credit Commercial letters of credit Total commitments Total commitments

Less than Less than 1 year 1 year $ 2,566,931 $ 2,566,931 42,390 42,390 5,441 5,441 $ 2,614,762 $ 2,614,762

1 – 3 years 1 – 3 years $ 1,896,174 $ 1,896,174 9,961 9,961 31,986 31,986 $ 1,938,121 $ 1,938,121

3 – 5 years 3 – 5 years $ 656,409 $ 656,40926,55226,552 $ 682,961 $ 682,961

Over 5 Over years5 years $ 76,390 $ 76,3903,2273,227 $ 79,617 $ 79,617

Total Total $ 5,195,904 $ 5,195,904 52,351 52,351 67,206 67,206 $ 5,315,461 $ 5,315,461

Since many of these commitments are expected to expire without being drawn upon, the total commitments do not Since many of these commitments are expected to expire without being drawn upon, thecommitments total commitments do not Since many of these commitments arerequirements. expected to expire without being drawn upon, the total do not necessarily necessarily represent future cash necessarily future cash requirements. represent futurerepresent cash requirements. Nonperforming Assets Nonperforming Assets Nonperforming assets are comprised of nonaccrual loans, loans 90 days past due still accruing interest, and other NONPERFORMING ASSETS Nonperforming assets are comprised of nonaccrual loans, loans 90 days past due still accruing interest, and other property owned. Nonaccrual loans allloans, loans where is a due reasonable doubtinterest, as to collection principal Nonperforming assets are comprised ofrepresent nonaccrual 90there days past still accruing and otherof owned. property owned. Nonaccrual loans represent all loansloans where there is a reasonable doubt as to collection ofproperty principal and/or interest. The following table summarizes nonperforming assets and delinquency information. Nonaccrual loans represent all loans where there is a reasonable doubt as to collection of principal and/or interest. The following table and/or interest. The following table summarizes nonperforming assets and delinquency information. summarizes nonperforming assets and delinquency information. December 31 2025 2024 2023 December 31 2025 2024 2023 Nonaccrual loans $ 113,670 $ 68,389 $ 23,401 Nonaccrual loans $ 113,670 $ 68,389 $ Accruing loans 90 days or more past due 126 288 23,401 Accruing loans 90 days or more past due 126 288 Other property owned (OPO) 94 Other property owned (OPO) 94 Total nonperforming assets $ 113,890 $ 68,389 $ 23,689 Total nonperforming assets $ 113,890 $ 68,389 $ 23,689 Nonaccrual loans to total loans 0.80% 0.53% 0.20% Nonaccrual loansassets to total loansloans and OPO Nonperforming to total 0.80% 0.80% 0.53% 0.53%0.21% 0.20% Nonperforming to total total performing loans and OPO Delinquencies asassets a % of loans 0.18% 0.80% 0.17% 0.53%0.35% 0.21% 30+ day delinquencies as a % of total performing loans 0.18% 0.17% 0.35%

The $45.5 million increase in nonperforming assets at December 31, 2025, was primarily due to a number of The $45.5 million increase in nonperforming at December 31, was 2025, was primarily to a number of The $45.5 million increase in nonperforming assetsassets at December 31, 2025, primarily due tothe adue number of production agriculture production agriculture customers that transferred to nonaccrual during 2025. In general, Association is production agriculture customers that transferred to nonaccrual during 2025. In general, the Association is adequately on much of the $113.7 nonaccrual loan volume at December 31, 2025. However, the million customers thatsecured transferred to nonaccrual duringmillion 2025. Iningeneral, the Association is adequately secured on much of the $113.7 adequately secured on much of the $113.7 million in nonaccrual loan volume at December 31, 2025. However, the Associationloan hasvolume established specific31, loan lossHowever, allowances $22.9 million on its nonaccrual compared to $13.0 in nonaccrual at December 2025. theofAssociation has established specific loans loan loss allowances of $22.9 million Association has established specific loan loss allowances of $22.9 million on its nonaccrual loans compared to $13.0 million at December 31, 2024.to $13.0 million at December 31, 2024. onmillion its nonaccrual loans compared at December 31, 2024.

Otherproperty propertyowned owned comprised of real or personal property has been acquired through foreclosure Other is is comprised of real or personal property that that has been acquired through foreclosure or deedorindeed lieu of foreclosure. lieu of foreclosure. At December 31, 2025, property owned was $94 December 31, AtinDecember 31, 2025, other property owned wasother $94 thousand. At December 31,thousand. 2024, andAt 2023, there was no2024, otherand property owned there was no other property owned by the Association. by2023, the Association. Foradditional additional loan type information, Note to consolidated the consolidated financial statements, “Loans and Allowance for Losses.” For loan type information, see see Note 3 to3the financial statements, “Loans and Allowance for Credit Credit Losses.” CREDIT QUALITY CONDITIONS AND MEASUREMENTS IN THE LOAN PORTFOLIO Credit Quality Conditions and Measurements in the Loan Portfolio We review thethe credit quality of the portfolio on anonon-going basis as partasofpart our of riskour management practices. Each loan is classified We review credit quality of loan the loan portfolio an on-going basis risk management practices. according to the Uniform Classification System (UCS) which is used by all System institutions. The following table Each loan is classified according to the Uniform Classification System (UCS) which is used by all System presents statistics based on UCS The classified as a percentage of total loans. based on UCS classified as a percentage of total loans. institutions. following table presents statistics December 31 Acceptable Special mention Substandard/doubtful Total

2025 93.28% 3.83 2.89 100.00%

2024 93.25% 4.61 2.14 100.00%

2023 94.26% 3.63 2.11 100.00%

Farm Credit East 2025 Annual Report

Credit Risk Management Credit risk arises from the inability of an obligor to meet its repayment obligation and exists in our outstanding

December 31, 2025, compared to 0.04% at December 31, 2024. Charge-offs have historica relatively small number of customers and may fluctuate significantly period to period.

Loan credit quality was essentially unchanged from the prior year with acceptable credit quality at 93.3% at December 31, 2025. Special mention loans improved to 3.8% of total loans at December 31, 2025, compared to 4.6% the prior year while substandard/doubtful loans increased to 2.9%. While overall loan quality measures remain strong at December 31, 2025, the potential for some deterioration during 2026 exists as there is still uncertainty related to inflation and interest rates. CREDIT RISK MANAGEMENT Credit risk arises from the inability of an obligor to meet its repayment obligation and exists in our outstanding loans, unfunded loan commitments and letters of credit. We manage credit risk associated with our lending activities through an assessment of the credit risk profile of each individual borrower based on an analysis of the borrower’s credit history, repayment capacity, financial position and collateral. Repayment capacity focuses on the borrower’s ability to repay the loan based on cash flows from operations or other sources of income. The Association also manages credit risk by establishing limits for single borrower hold positions and industry concentrations based on underlying risks. The geographic and commodity diversity in the loan portfolio, coupled with disciplined underwriting, reduces the potential for significant credit losses. To further manage portfolio risk, the Association is a Preferred Lender under the USDA’s Farm Service Agency guarantee program and as of December 31, 2025, has guarantees totaling $340.0 million. In addition, the Association has loan guarantees with state agencies totaling $34.0 million. PROVISION FOR CREDIT LOSSES AND ALLOWANCE FOR CREDIT LOSSES The provision for credit losses reflects the year-to-date change in the Association’s estimate of current expected credit losses in the loan portfolio, including unfunded commitments. The allowance for loan losses covers the funded portion of loans outstanding, while the reserve for unfunded commitments covers losses on unfunded lending commitments. The sum of the allowance for loan losses and the reserve for unfunded commitments is referred to as the allowance for credit losses (ACL) on loans. At December 31, 2025, the allowance for credit losses was $107.4 million, an increase of $14.4 million from the prior year. The Association recorded a $24.0 million provision for credit losses for the year ended December 31, 2025, compared to $11.5 million in 2024. The 2025 provision for credit losses primarily relates to portfolio loan growth and credit quality deterioration within certain sectors of the portfolio totaling $36.5 million. These increases were offset by model assumption updates specific to the large loan component of the model, resulting in a credit loss reversal of $12.5 million. During 2025, nonaccrual loans increased by $45.3 million to $113.7 million increasing specific allowances by $9.9 million to $22.9 million at December 31, 2025. During the year, the Association charged off $10.3 million in loans and recovered $0.7 million. Net charge-offs as a percentage of average loans were 0.07% for the year ended December 31, 2025, compared to 0.04% at December 31, 2024. Charge-offs have historically resulted from a relatively small number of customers and may fluctuate significantly period to period. 7

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The followingtable tablepresents presents comparative allowance for credit loss as a perce The following thethe comparative allowance for credit loss coverage, coverage, categories.as a percentage of key loan categories.

December 31 2025 2024 2023 Components: Allowance for loan losses $ 96,319 $ 78,272 $ 66,253 Reserve for unfunded commitments 11,130 14,699 19,767 Allowance for credit losses (ACL) $ 107,449 $ 92,971 $ 86,020 December 31, 2025,of: compared to 0.04% at December 31, 2024. Charge-offs have historically r ACL as a percentage relatively small number of customers and may fluctuate 31, significantly period0.75% to period. Total loans 0.72% December 31, 2025, compared to 0.04% at 0.75% December 2024. Charge-offs have historical Nonaccrual loans 94.5% 367.6% relatively small number of customers and may fluctuate 135.9% significantly period to period. Nonperforming assets 135.9% 363.1%as a percentag The following table presents the comparative94.3% allowance for credit loss coverage,

categories. The following table presents the comparative allowance for credit loss coverage, as a percen For further discussion regarding the allowance for credit losses, see Note 3 to the consolida categories. For further discussion regarding the allowance for credit losses, see “Loans and31 Allowance for Credit Losses.” December 2025 2024 2023

Note 3 to the consolidated financial statements, “Loans and Allowance

Components: December 31Operations 2025 2024 2023 for Creditof Results Allowance forLosses.” loan losses $ 96,319 $ 78,272 $ 66,253 Components: Net income was $366.8 million for the 1211,130 months ended December 31, 2025, an increase o Reserve for unfunded commitments 14,699 19,767 Allowance for loan losses 96,319 78,272 $ 66,253 Allowance for credit losses $$107,449 $ $92,971 $ 86,020 compared with the same(ACL) period in 2024. Net income was $270.0 million for the 12 months RESULTS OF OPERATIONS Reserve unfundedof: commitments 11,130 19,767 ACL asThe afor percentage 2023. 2025 earnings reflect the favorable impact of 14,699 increased loan volume with net int Allowance for credit losses (ACL) 107,449 $ 92,971 $ 86,020 Total loans 0.75% 0.72% 0.75% Net income was million stable for $the 12 months endedThe December $42.1 million along$366.8 with continued operating expenses. Association recorded a ACL as a percentage Nonaccrual loans of: 94.5% 135.9% 367.6% 31, 2025, an increase of $30.2 as compared with isthe same forTotal credit losses for the year endedmillion December 31, 2025, which a $12.5 million increase c loans 0.75% 0.72% 0.75% Nonperforming assets 94.3% 135.9% 363.1% period in 2024. million for the 12 months Nonaccrual loans Net income was $270.0 94.5% 135.9% 367.6% Nonperforming assets The following table reflects keyThe performance results ($135.9% in millions). ended December 31, 2023. 2025 94.3% earnings reflect the For further discussion regarding the allowance for credit losses, seefavorable Note 363.1% 3 to the consolidated

“Loans and Allowance loan for Credit Losses.” impact of increased volume with net interest income increasing For further discussion the31allowance2025 for credit losses, see Note 3 to2023 the consolidat For the Year Ended regarding December 2024 $42.1 million along with continued stable operating$ expenses. The “Loans and Allowance for Credit Losses.” Net income $ 366.8 336.6 $ 270.0 Results of Operations Association recorded a $24.0 provision credit losses for$an increase Netincome interestwas income $ 420.7 $ 378.6 317.5 of $3 Net $366.8 million formillion the 12 months endedfor December 31, 2025, Netyear interest margin 3.17% 3.16% 2.96% Results of Operations compared with theDecember same period31, in 2024. income $270.0 million for the 12 months end the ended 2025,Net which is awas $12.5 million increase Return on average assets million 2.66% 2.70% 2.43% 2023. The 2025 earnings reflect the impact of increased loan31, volume net interes Net income was $366.8 for favorable the 12 months ended December 2025,with an increase of compared to a year ago. Return onwith average equity 14.47% 14.63% 12.87% $42.1 million along with continued stable Net operating expenses. The Association recorded a $24e compared the members’ same period in 2024. income was $270.0 million for the 12 months 2023. Thelosses 2025 for earnings reflect theDecember favorable31, impact increased loan million volumeincrease with netcomp inte for credit the year ended 2025,of which is a $12.5 Changes in thealong significant components impacting results ofThe operations are summarized The following table reflects keystable performance results $42.1 million with continued operatingthe expenses. Association recorded a $ ($ in millions). The following performance ($ in which millions). for credit lossestable for reflects the yearkey ended Decemberresults 31, 2025, is a $12.5 million increase co ($ in millions).

2025 2024 versus versus 2023 Increase (decrease) due to: 2024 2023 Net income $ 366.8 $ 336.6 $ 270.0 Net interest interestincome income $$ 42.1 Net $ 2025 420.7 378.6 $ $61.12023 317.5 For the Year Endedof December 31 2024 Provision credit losses (12.5) 0.32.96% Net interestfor/reversal margin 3.17% 3.16% Net income $ 366.8 $ 336.6 $ 270.0 Noninterest income 11.9 13.12.43% Return on average assets 2.66% 2.70% Net interest income $ 14.47% 420.7 $(10.1) 378.6 $12.87% 317.5 Noninterest expenses (7.6) Return on average members’ equity 14.63% Net interestfor margin 3.17% 3.16% Provision income taxes (1.2) (0.3) 2.96% Return assets 2.66% 2.70% $ 66.6 2.43% Total on average $ of 30.2 Changes thethe significant components impacting the results operations in t Return oninin average members’ equity 14.47% 12.87% Changes significant components impacting the14.63% results of are summarized

Forfollowing the Year table Ended December 31 2025 The reflects key performance results ($ in 2024 millions).

($ in millions). operations summarized in the following table2025 Net Interestare Income 2024 Changes in the significant components impacting the results of in operations are summarized versus versus Netininterest income increased $42.1 million to $420.7 million 2025, compared to $378.6i ($ millions). ($ in millions). Increase (decrease) due to: 2024 December 2023 31, 2023. The foll interest income was $317.5 million for the 12 months ending

$ 2025 42.1 $ 2024 61.1 versus versus Provision for/reversal of credit losses (12.5) 0.3 Increase due to: 2024 2023 Noninterest(decrease) income 11.9 13.1 Net interest expenses income $ (10.1) 42.1 $ (7.6) 61.1 Noninterest Provision for/reversal of credit losses (12.5) 0.3 Provision for income taxes (1.2) (0.3) Total $ 30.2 Noninterest income 11.9 $ 66.6 13.1 Noninterest expenses (10.1) (7.6) Provision for income taxes (1.2) (0.3) Net Interest Income Total $ 30.2 66.6 Net interest income increased $42.1 million to $420.7 million in 2025,$ compared to $378.6 mil Net interest income changes in net interest income ($ in millions).

interest income was $317.5 million for the 12 months ending December 31, 2023. The followin Net Interest changes in net Income interest income ($ in millions). NET INTEREST INCOME Net interest income increased $42.1 million to $420.7 million in 2025, compared to $378.6 Net interest income increased $42.1 million to $420.7 million in interest income was $317.5 million for the 12 months ending December 31, 2023. The follo 2025, compared to $378.6 in 2024. Net interest income was changes in net interest income million ($ in millions).

$317.5 million for the 12 months ended December 31, 2023. The following table quantifies the changes in net interest income ($ in millions). Changes in net interest income due to: Loan volume and average loan rate Nonaccrual volume and other income Borrowing levels and average cost of debt Hedging activity Total

2025 versus 2024 $ 15.2 1.7 0.1 25.1 $ 42.1

2024 versus 2023 $ 131.6 (3.7) (81.1) 14.3 $ 61.1

The Association’s average loan rate was 6.61% in 2025, down from 7.18% in 2024, while t cost of debt funding decreased by similar amounts to 4.12% in 2025, compared to 4.58% in interest rates on variable rate loans and the Association’s cost of debt both decreased towar to monetary actions taken by the Federal Reserve to decrease interest rates as part of an eas counter slowing economic activity, aiming to increase employment while managing inflatio Association’s hedging strategy includes fixed-receive and floating-pay interest rate swaps. Association’s swap portfolio saw a decrease in floating-pay rates while the fixed-receive ra

Changes in net interest income due to: Loan volume and average loan rate Nonaccrual volume and other income Borrowing levels and average cost of debt Hedging activity Total

2024 15.2 1.7 0.1 25.1 42.1

2023 $ 131.6 (3.7) (81.1) 14.3 $ 61.1

The Association’s average loan rate was 6.61% in 2025, down from 7.18% in 2024, while the Association’s average

The Association’s average loan rate was 6.61%toin4.12% 2025,indown 7.18% in 2024, whileLike the 2024, Association’s average cost of debt funding decreased cost of debt funding decreased by similar amounts 2025, from compared to 4.58% in 2024. by similar to 4.12% in and 2025, to 4.58% 2024. 2024,towards interest onthe variable rate loans and the Association’s cost interest ratesamounts on variable rate loans thecompared Association’s cost of in debt both Like decreased therates end of year due to monetary taken towards by the Federal Reserve decrease rates asactions part of taken an easing policy to to decrease interest rates as part of of debt bothactions decreased the end of thetoyear due interest to monetary by monetary the Federal Reserve counter slowing economic activity, aimingslowing to increase employment whileaiming managing inflation employment expectations. The an easing monetary policy to counter economic activity, to increase while managing inflation expectations. The Association’s hedging strategy includes fixed-receive and floating-pay interest rate swaps. Throughout 2025, the Association’s hedging strategy includes fixed-receive and floating-pay interest rate swaps. Throughout Association’s swap portfolio saw a decrease in floating-pay rates while the fixed-receive rates remained slightly 2025, the Association’s swap portfolio saw ahigher, decrease in floating-pay rates while the fixed-receive rates remained slightly higher, benefiting the Association. For further discussion regarding benefiting the Association. For further discussion regarding the hedging strategy, see Note 16 to the consolidated “Derivative Instruments and Hedging Activities.”“Derivative Instruments and Hedging Activities.” the hedgingfinancial strategy,statements, see Note 16 to the consolidated financial statements, Information regarding the average daily balances and average rates earned and paid on our portfolio are presented in

Information regarding the average daily balances and average rates earned and paid on our portfolio are presented in the following table. the following table. For the Year Ended December 31 Net interest income Average balances: Average interest earning loans Average interest-bearing liabilities Average rates: Interest earning loans Interest bearing liabilities Interest rate spread Net interest margin (interest income as a percentage of average interest earning loans)

2025 $

420,703

$ 13,258,844 $ 11,087,970

2024 $

378,555

$ 11,997,682 $ 9,960,630

2023 $

317,538

$ 10,717,673 $ 8,823,366

6.61% 4.12% 2.49%

7.18% 4.58% 2.60%

6.82% 4.26% 2.56%

3.17%

3.16%

2.96%

Noninterest income

NONINTEREST INCOME Noninterest income increased $11.9 million to $129.4 million for the 12 months ended December 31, 2025, as Noninterest income increased $11.9 million to $129.4 the 12 months ended December 31, 2025, as compared to $117.5 million in 2024. compared to $117.5 million in 2024. Noninterest income is million primarilyfor composed of patronage income, financially related services income, fees and compensation on participation loans. Noninterest income totaled $104.4loan fees and compensation on participation Noninterest income is loan primarily composed of patronage income, financially related services income, millionNoninterest for the 12 months ended December 31,million 2023. for the 12 months ended December 31, 2023. loans. income totaled $104.4 Patronage income from CoBank is a significant part of the Association’s noninterest income. Patronage income is

Patronage CoBank is a significantnote partpayable of the to Association’s income. Patronage income is based on the average balance of based on theincome averagefrom balance of the Association’s CoBank. Fornoninterest the year ended December 31, 2025, CoBank patronage note income totaledto$54.9 million, increase of $3.0December million from in 2024. Patronage the Association’s payable CoBank. Foranthe year ended 31,$51.9 2025,million CoBank patronage income totaled $54.9 million, an increase of income from CoBank was million $45.9 million for the 12 months endedfrom December 31, 2023. The 2025 CoBank patronage $3.0 million from $51.9 in 2024. Patronage income CoBank was $45.9 million for the 12 months ended December 31, 2023. The 2025 included a special patronage distribution of $4.9 million, compared to a special patronage distribution of $7.0 CoBank patronage included a special patronage distribution of $4.9 million, compared to a special patronage distribution of $7.0 million in 2024, million in 2024, and $6.2 million in 2023. The patronage rates paid by CoBank on the Association’s note payable and million in in 2023. patronage rates paid by CoBank on the Association’s note payable were 45 basis points in each of 2025, 2024 and were$6.2 45 basis points eachThe of 2025, 2024 and 2023. 2023. Farm Credit East also receives patronage income from CoBank and other Farm Credit entities that purchased interests in loans originated by the Association. For the 12 months ended December 31, 2025, this revenue totaled Farm Credit East also receives patronage income from CoBank and other Farm Credit entities that purchased interests in loans originated by the $18.5 million compared to $17.5 million in 2024, and $15.9 million in 2023.

Association. For the 12 months ended December 31, 2025, this revenue totaled $18.5 million compared to $17.5 million in 2024, and $15.9 million Noninterest in 2023. income also includes fees for financially related services, compensation on participation loans, and loan fees and other noninterest income. These noninterest income sources totaled $56.0 million for the 12 months ended

December 31, 2025, an increase of $7.9 million from 2024. Financially related services fee income totaled $30.9 Noninterest income also includes fees for financially related services, compensation on participation loans, and loan fees and other noninterest million in revenue for the year ended December 31, 2025, an increase of $2.4 million from 2024. Loan fees and income. These noninterest income sources totaled $56.0 million for the 12 months ended December 31, 2025, an increase of $7.9 million from 2024. Financially related services fee income totaled $30.9 million in revenue for the year ended December 31, 2025, an increase of $2.4 million from 2024. Loan fees and other noninterest income increased $5.6 million to $18.5 million at December 31, 2025, primarily due to fee income associated with a contract termination received from an Association exiting the FPI ownership group.

NONINTEREST EXPENSE Noninterest expense was $155.2 million for the 12 months ended December 31, 2025. Noninterest expense totaled $145.2 million and $137.6 million for the 12 months ended December 31, 2024, and 2023, respectively. Salaries and employee benefits is the primary component of noninterest expense and totaled $86.2 million for the 12 months ended December 31, 2025, an increase of $4.8 million from $81.4 million for the 12 months ended December 31, 2024. This increase is primarily due to normal annual salary adjustments along with slightly higher staffing levels. Salary and employee benefits were $75.3 million for the 12 months ended December 31, 2023. Insurance fund premiums were $10.5 million in 2025, an increase of $1.1 million from December 31, 2024. Insurance fund premium rates are set by the Farm Credit System Insurance Corporation and were 10 basis points of adjusted insured debt obligations for both 2025 and 2024. Insurance fund premiums were $14.8 million in 2023, and the rate was 18 basis points. Noninterest expenses also include occupancy and equipment expense and other operating expenses, which includes technology costs and other property owned expenses. These other operating expenses were $58.5 million in 2025, an increase of $4.1 million compared to 2024. The increase was primarily due to higher technology expenses associated with new digital initiatives.

Farm Credit East 2025 Annual Report

or other liquid investments. Substantially all the Association’s assets are pledged as se Association is in full compliance with its financing agreement with CoBank and has c borrow funds needed to meet anticipated loan demand.

PROVISION FOR INCOME TAXES The provision for income taxes was $4.0 million for the 12 months ended December 31, 2025, compared to $2.8 million at December 31, 2024. The effective tax rate was 1.1% for the year ended December 31, 2025, and 0.8% for 2024. The Association’s effective tax rate is significantly less than the applicable federal and state statutory income tax rates due to tax deductible patronage distributions and our taxexempt business activities. For the 12 months ended December 31, 2023, the provision for income taxes was $2.5 million. For additional information, see Note 10 to the consolidated financial statements, “Income Taxes.” PATRONAGE DISTRIBUTIONS The Association has a patronage program that allows it to distribute its eligible net earnings to its stockholders. The patronage program consists of a qualified cash distribution and a non-qualified distribution. This program provides for the application of net earnings in the manner described in our bylaws. When determining the amount and method of patronage to be distributed, the board considers the setting aside of funds to increase retained earnings to meet capital adequacy standards established by Farm Credit regulations, to meet our internal capital adequacy standards to support competitive pricing at targeted earnings levels, and for reasonable reserves. Patronage is distributed in accordance with cooperative principles, as determined by the board of directors and in accordance with Association bylaws. The distributions are sent to eligible customers shortly after the end of the year. For the year ended December 31, 2025, the Association declared qualified patronage dividends totaling $145.0 million which will be distributed in cash in 2026. For the year ended December 31, 2024, the Association declared two separate qualified patronage dividends totaling $140.0 million which was distributed in cash in 2025. For the year ended December 31, 2023, the Association also declared two separate qualified patronage dividends totaling $130.0 million which was distributed in cash in 2024. LIQUIDITY AND FUNDING SOURCES The Association’s primary source of funding is CoBank. Funds are obtained through borrowing on a revolving line of credit governed by a General Financing Agreement. At December 31, 2025, the Association’s notes payable to CoBank totaled $11.9 billion, which is a $1.1 billion increase from $10.8 billion at December 31, 2024. The Association’s note payable was $9.5 billion at December 31, 2023. The line of credit available to the Association is formula-driven based on Association loan volume and credit quality. Because of the funding relationship with CoBank, the Association does not maintain large balances in cash or other liquid investments. Substantially all the Association’s assets are pledged as security to CoBank. The Association is in full compliance with its financing agreement with CoBank and has capacity under the agreement to borrow funds needed to meet anticipated loan demand. The Association minimizes its interest rate risk by funding loans with debt from CoBank that has similar pricing characteristics as the assets being funded. As a result, the Association is not subject to substantial

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The Association its interestloan rate portfolio risk by funding loansofwith interest rate risk.minimizes The Association’s consisted thedebt from CoBa characteristics as the assets being funded. As a result, the Association is not subject to following breakdown by pricing type.

The Association’s loan portfolio consisted of the following breakdown by pricing type December 31

2025

2024

2023

Pricing Type: Variable rate loans Indexed loans (Prime, SOFR, LIBOR) Fixed rate loans

40.8% 33.3% 25.9%

40.0% 31.5% 28.5%

39.8% 28.6% 31.6%

The interest rates charged to the Association on debt, by and large, have the same pric

The interest rates chargedSubstantially to the Association on debt, by andare large, or other liquid investments. all funded the Association’s pledged assame security funded. For example, fixed rate loans are with fixedassets rate debt with the te have the same pricing characteristics as the loans funded. ForCoBank example, Association is in full compliance with its financing agreement with and has capacit to fund fixed and indexed rate loans with 100% matching debt to the extent possible. borrow funds needed to meet anticipated fixed rate loans are funded with fixedloan ratedemand. debt with the same term.

The Association’sequity goal isistoinvested fund fixed and indexed rate The loansyield withon equity funded The Association’s in variable rate loans.

The Association minimizes its interest rate risk by funding loans with debt from CoBank tha portfolio rate.asAsthe rates rise orextent fall, earnings equity loansisgo and down. T 100% matching debt to the possible. characteristics assets being funded. As a on result, the funded Association notup subject to subst “receive fixed/payloan variable” interest rateofcontracts (swaps) with CoBank to better The Association’s portfolio consisted the following breakdown by pricing type. man

variable rate loans. When are low,inthe Association earnsThe moreyield on its interest rate The Association’s equityrates is invested variable rate loans. earnings on its equity position and serving to stabilize net interest income; conversely December 31 2025 portfolio 2024 rate.2023 on equity funded loans the variable As Association will earn lessison itsaverage contracts and more on its equity position. The average Pricing Type: rates rise or fall,months. earnings equity funded loansstrategy go up and down.if rates stay stab contracts is 18 Theon effect of this hedging diminishes Variable rate loans 40.8% 40.0% 39.8% The Association also uses “receive fixed/pay variable” interest Indexed loans (Prime, SOFR, LIBOR) 33.3% 31.5% 28.6% The swaps also(swaps) extend the duration of the Association’s equity position rate contracts with CoBank to better its equity Fixed rate loans 25.9% manage 28.5% 31.6% resulting in in normal yieldincurve and some change in therates valueare oflow, equity to changes in interest r investment variable rate loans. When thedue Association interest rate hedging program is summarized in thebyfollowing table millions). The interest charged to the debt, and large, have($ theinsame pricing ch earns morerates on its interest rateAssociation contracts,onoffsetting lower earnings funded. For example, fixed rate loans are funded with fixed rate debt with the same term. Th on its equity position and serving to stabilize net interest income; toDecember fund fixed and the extent possible. 31 indexed rate loans with 100% matching 2025 debt to 2024 2023 conversely, when rates rise, the Association its Swap notional amount $ will 2,000earn less $ on 1,815 $ 1,620 The Association’s equity variable The yield onofequity contracts and more onisitsinvested equity Theloans. average Derivative assets (liabilities), net inposition. $ rate 9.7 $ length (4.3) $ funded (14.3)loans portfolio rate. As rates rise or fall, earnings on equity fundedofloans up and down. The As the Association’s contracts is 18 months. The effect this go hedging “receive variable” interest 31 rate contracts (swaps) with CoBank to better manage it For thefixed/pay Year Ended December strategy diminishes if rates stay stable for two or more years. variable rate loans. When rates are low, the Association earns more on its interest rate contr

Cash (payments) receipts $ (8.6) $ (34.0) $ (48.5) earnings on its equity position and serving to stabilize net interest income; conversely, when Association earn less the on its contracts and more on its equityfinancial position. statements, The average“Fair leng The swaps will alsoinformation, extend duration of Association’s equity For additional see Note 15 tothe the consolidated contracts 18 months. effect of this hedging diminishes rates stay stable for positionisresulting in The increased earnings fromstrategy the normal yieldifcurve

Members’ Equity

andswaps some also change in the theduration value ofofequity due to changes interest The extend the Association’s equityin position resulting in increase Members’ equity totaled $2.6 billion at December 31, 2025. Members’ equity at Dece rates. The normal yieldAssociation’s curve and someinterest change rate in thehedging value ofprogram equity dueistosummarized changes in interest rates. T of unallocated retained earnings of $2.3 billion, additional paid-in capital of $354.2 m interest rate hedging program summarized in the following table ($ in millions). in the following table ($ inismillions). and participation certificates of $19.9 million, and accumulated other comprehensive December 31

2025

2024

2023

Capital Plan and Regulatory Requirements Swap notional amount $ 2,000 $ 1,815 $ 1,620 The boardassets of directors establishes a formal plan that capita Derivative (liabilities), net $ capital 9.7 adequacy $ (4.3) $ addresses (14.3) capital adequacy plan assesses the capital level necessary for financial viability and to isFor updated annually approved the Year Endedand December 31 as part of the Association’s annual business plan. Cash (payments) receipts

(8.6)

(34.0)

(48.5)

The FCA Regulations requires the Association to maintain minimums for common eq For additional information, see Note 15capital to the consolidated financial statements, “Fair the Valu capital, total capital, and permanent risk-based capital ratios. In addition, F minimums for non-risk adjusted leverage and unallocated For additional information, seeratios Noteof15tier to 1the consolidated financialretained earn

Members’ statements,Equity “Fair Value Measurements.” Members’ $2.6table, billionatatDecember December31, 31, 2025, 2025. 2024 Members’ equityour at December As shownequity in thetotaled following and 2023, capital an of unallocated retained earnings $2.3 billion, additional capital $354.2 million, regulatory minimums. If theseof capital standards are notpaid-in met, the FCAofcan impose restr MEMBERS’ EQUITY and participation certificates of $19.9 million, and accumulated other comprehensive loss of ability to pay patronage distributions and retire equities.

Members’ equity totaled $2.6 billion at December 31, 2025. Mem-

Capital Plan and Regulatory Requirements bers’ equity at December 31, 2025, was comprised of unallocated The board of directors establishes a formal capital adequacy plan that addresses capital goal retained earnings ofassesses $2.3 billion, additional paid-infor capital of $354.2 capital adequacy plan the capital level necessary financial viability and to provi is updatedcustomer annually and approved part participation of the Association’s annual of business million, capital stockasand certificates $19.9 plan.

million, and accumulated other comprehensive loss of $8.2 million.

The FCA Regulations requires the Association to maintain minimums for common equity ti capital, total capital, and permanent capital risk-based capital ratios. In addition, the FCA re minimums for non-risk adjusted ratios of tier 1 leverage and unallocated retained earnings (

As shown in the following table, at December 31, 2025, 2024 and 2023, our capital and leve regulatory minimums. If these capital standards are not met, the FCA can impose restriction ability to pay patronage distributions and retire equities.

CAPITAL PLAN AND REGULATORY REQUIREMENTS The board of directors establishes a formal capital adequacy plan that addresses capital goals in relation to risks. The capital adequacy plan assesses the capital level necessary for financial viability and to provide for growth. Our plan is updated annually and approved as part of the Association’s annual business plan. The FCA Regulations requires the Association to maintain minimums for common equity tier 1 (CET 1), tier 1 capital, total capital, and permanent capital risk-based capital ratios. In addition, the FCA requires us to maintain minimums for non-risk adjusted ratios of tier 1 leverage and unallocated retained earnings (URE). As shown in the following table, at December 31, 2025, 2024 and 2023, our capital and leverage ratios exceeded regulatory minimums. If these capital standards are not met, the FCA can impose restrictions, including limiting our ability to pay patronage distributions and retire equities.

CommonEquity EquityTier Tier1 1Capital CapitalRatio Ratio(CET1) (CET1) Common Tier1 1Capital CapitalRatio Ratio Tier TotalCapital CapitalRatio Ratio Total PermanentCapital CapitalRatio Ratio Permanent Tier1 1Leverage LeverageRatio Ratio Tier UREELeverage LeverageRatio Ratio UREE

2025 2025 15.49% 15.49% 15.49% 15.49% 16.19% 16.19% 15.20% 15.20% 16.92% 16.92% 16.78% 16.78%

2024 2024 15.82% 15.82% 15.82% 15.82% 16.51% 16.51% 15.50% 15.50% 17.25% 17.25% 17.10% 17.10%

2023 2023 16.42% 16.42% 16.42% 16.42% 17.08% 17.08% 16.10% 16.10% 18.00% 18.00% 17.83% 17.83%

FCA FCA Minimum Minimum withBuffer Buffer with 7.00% 7.00% 8.50% 8.50% 10.50% 10.50% 7.00% 7.00% 5.00% 5.00% 1.50% 1.50%

Foradditional additional information, seeNote Note 8totoconsolidated theconsolidated consolidated financial statements, “Members’ Equity.” For information, the financial statements, “Members’ For additional information, seesee Note 8 to8the financial statements, “Members’ Equity.” Equity.” CapitalAdequacy Adequacy and Business Planning Capital and Business Planning CAPITAL ADEQUACY AND BUSINESS PLANNING Inconjunction conjunctionwith with the annual business planand andfinancial financial planning process, the boardofof directors reviewsand InIn with the annual business planning directors conjunction the annual business planplan and financial planning process,process, the boardthe of board directors reviews andreviews approves aand capital adequacy plan approves a capital adequacy plan which includes target levels for capital and capital ratio minimum baselines. The approves a capital adequacy plan which includes target levels for capital and capital ratio minimum baselines. The which includes target levels for capital and capital ratio minimum baselines. The capital adequacy plan assesses the capital level necessary for financial capital adequacy plan assesses the capital level necessary for financial viability and to provide growth. Effective capital adequacy plan assesses the capital level necessary for financial viability and to provide growth. Effective viability and to provide growth. Effective January 1, 2026, the board established capital ratio baselines as follows. January1,1,2026, 2026,the theboard boardestablished establishedcapital capitalratio ratiobaselines baselinesasasfollows. follows. January

2026Target Target 2026 Range Range 15%- 16% - 16% 15% 15%- 16% - 16% 15% 15.5%- 16.5% - 16.5% 15.5% 14.8%- 15.8% - 15.8% 14.8% 16.4%- 17.4% - 17.4% 16.4% 16%- 17% - 17% 16%

Policy Policy Minimum Minimum 11.50% 11.50% 13.00% 13.00% 14.50% 14.50% 12.00% 12.00% 6.00% 6.00% 2.00% 2.00%

FCA FCA Minimum Minimum withBuffer Buffer with 7.00% 7.00% 8.50% 8.50% 10.50% 10.50% 7.00% 7.00% 5.00% 5.00% 1.50% 1.50%

RegulatoryMatters Matters Regulatory REGULATORY MATTERS AsofofDecember December 31,2025, 2025,the theAssociation Associationhad hadnonoenforcement enforcementactions actionsinineffect effectand andFCA FCAtook tooknonoenforcement enforcement As 31, As of December 31, 2025, theduring Association had no enforcement actions in effect and FCA took no enforcement actions on the Association actions theAssociation Association duringthe theyear. year. actions ononthe during the year.

CriticalAccounting AccountingEstimates Estimates Critical CRITICAL ACCOUNTING ESTIMATES Management’s discussionand andanalysis analysisofofthe thefinancial financialcondition conditionand andresults resultsofofoperations operationsare arebased basedononthe the Management’s discussion Management’s discussion and analysis ofstatements, the financialwhich condition and resultsinof operations are based on the Association’s consolidated financial stateAssociation’sconsolidated consolidatedfinancial financial statements, whichwe we prepare inaccordance accordance with accounting principles Association’s prepare with accounting principles ments, which we prepare in accordance with accounting principles generally accepted in the United States of America. In preparing generallyaccepted acceptedininthe theUnited UnitedStates StatesofofAmerica. America.InInpreparing preparingthese thesefinancial financialstatements, statements,we wemake makeestimates estimates and these financial generally and statements, we make estimates and assumptions. Our financial position and results of operations are affected by these estimates and assumptions, assumptions. Our financial position and results of operations are affected by these estimates and assumptions, which assumptions. Our financial position and results of operations are affected by these estimates and assumptions, which which are integral to understanding reported results. areintegral integral understanding reported results. are totounderstanding reported results. Note totothe the consolidated financial statements contains a summary of our significant accounting policies. Of these policies, we Note222to theaccompanying accompanying consolidated financial statements contains summary oursignificant significant accounting Note accompanying consolidated financial statements contains a asummary ofofour accounting consider certain ones critical to the presentation of our financial condition, as they require us to make complex or subjective judgments that affect policies.OfOfthese thesepolicies, policies,we weconsider considercertain certainones onescritical criticaltotothe thepresentation presentationofofour ourfinancial financialcondition, condition,asasthey they policies. the value of certain assets and liabilities. Some of these estimates relate to matters that are inherently uncertain. Most accounting requireusustotomake makecomplex complexororsubjective subjectivejudgments judgmentsthat thataffect affectthe thevalue valueofofcertain certainassets assetsand andliabilities. liabilities.Some Someofofpolicies are not, require however, considered critical. Our critical accounting policies relate to determining the level of our allowance for credit losses and the valuation of our these estimates relate to matters that are inherently uncertain. Most accounting policies are not, however, considered these estimates relate to matters that are inherently uncertain. Most accounting policies are not, however, considered derivative instruments with no ready markets. critical.Our Our criticalaccounting accounting policies relatetotodetermining determiningthe thelevel levelofofour ourallowance allowancefor forcredit creditlosses lossesand andthe the critical. critical policies relate valuationofofour ourderivative derivativeinstruments instrumentswith withnonoready readymarkets. markets. valuation

BusinessOutlook Outlook Business TheU.S. U.S.economy economyposted postedGDP GDPgrowth growthofof<0.6%>, <0.6%>,3.8%, 3.8%,and and4.4% 4.4%for forthe thefirst firstthree threequarters quartersofof2025, 2025,respectively. respectively. The Analystsestimate estimatethat thatGDP GDPgrew grewbyby2.0% 2.0%for forthe theyear, year,beating beatingexpectations expectationsfrom fromearlier earlierinin2025. 2025.Looking Lookingahead, ahead, Analysts forecastsrange rangefrom from1.9% 1.9%toto2.8% 2.8%for for2026 2026GDP GDPgrowth, growth,building buildingonon2025 2025results. results. forecasts Farm Credit East 2025 Annual Report

Inflationhas hasdeclined declinedsignificantly significantlyfrom fromitsitspeak peakinin2022, 2022,but butremains remainsstubbornly stubbornlyabove abovethe theFederal FederalReserve’s Reserve’s2% 2% Inflation target,complicating complicatingitsitsinterest interestrate ratedecisions. decisions.The TheU.S. U.S.labor labormarket markethas hassoftened softenedbut butremains remainsrelatively relativelystrong, strong,with with target,

BUSINESS OUTLOOK The U.S. economy posted GDP growth of <0.6%>, 3.8%, and 4.4% for the first three quarters of 2025, respectively. Analysts estimate that GDP grew by 2.0% for the year, beating expectations from earlier in 2025. Looking ahead, forecasts range from 1.9% to 2.8% for 2026 GDP growth, building on 2025 results. Inflation has declined significantly from its peak in 2022, but remains stubbornly above the Federal Reserve’s 2% target, complicating its interest rate decisions. The U.S. labor market has softened but remains relatively strong, with headline unemployment at 4.4% in December 2025. Front-line and lower-wage positions remain difficult to fill due to tightness in that portion of the job market. There are significant risks to this forecast, including possible trade wars with increased tariffs being enacted on both imports and exports, sharp cuts in government spending, major increases in immigration enforcement, geopolitical unrest and other uncertainty, all of which could dampen economic growth. FORWARD-LOOKING STATEMENTS Certain information included in this report contains forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Words such as “believes,” “could,” “estimates,” “anticipates,” “may,” “should,” “will,” or other variations of these terms or similar expressions are intended to identify forward-looking statements. These statements are based on assumptions and analyses made considering experience, historical trends, current conditions and expected future developments. However, actual results and developments may differ materially from our expectations and predictions due to a number of risks and uncertainties, many of which are beyond our control. These risks and uncertainties include, but are not limited to:

•

political, legal, regulatory, and economic conditions and developments in the United States and abroad;

•

economic fluctuations in the agricultural, rural utility, international and farm-related business sectors;

•

weather, disease, and other adverse climatic or biological conditions that periodically occur that impact agricultural productivity and income;

•

changes in United States government support of the agricultural industry and/or the Farm Credit System; and,

•

actions taken by the Federal Reserve System in implementing monetary policy.

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Farm Credit East 2025 Annual Report

FARM CREDIT EAST, ACA

REPORT OF MANAGEMENT The consolidated financial statements of Farm Credit East, ACA (the Association) are prepared by management, who is responsible for their integrity and objectivity, including amounts that must necessarily be based on judgments and estimates. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America as appropriate in the circumstances. The consolidated financial statements, in the opinion of management, fairly present the financial position of Farm Credit East. Other financial information included in this 2025 annual report is consistent with that in the consolidated financial statements. To meet its responsibility for reliable financial information, management depends on the Association’s accounting and internal control systems which have been designed to provide reasonable, but not absolute, assurance that assets are safeguarded, and transactions are properly authorized and recorded. The systems have been designed to recognize that the cost must be related to the benefits derived. To monitor compliance, the Association’s internal auditors and risk management staff perform audits of the accounting records, review accounting systems and internal controls, and recommend improvements as appropriate. The consolidated financial statements are audited by PricewaterhouseCoopers LLP, our independent auditors, who consider internal controls in accordance with auditing standards generally accepted in the United States of America. The Association is also examined by the Farm Credit Administration. The chief executive officer, as delegated by the Board of Directors, has overall responsibility for the Association’s system of internal controls and financial reporting, subject to the review of the Audit Committee of the Board of Directors. The Audit Committee consults regularly with management and meets periodically with the independent auditors and internal auditors to review the scope and results of their examinations. The Audit Committee reports regularly to the Board of Directors. Both the independent auditors and the internal auditors have direct access to the Audit Committee. The undersigned certify the 2025 Annual Report to Stockholders has been reviewed and prepared in accordance with all applicable statutory or regulatory requirements and that the information contained herein is true, accurate and complete to the best of our knowledge and belief.

/s/ Michael J. Reynolds Chief Executive Officer

/s/ John P. Knopf Chair of the Board

/s/ Andrew N. Grant Chief Financial Officer

March 13, 2026

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FARM CREDIT EAST, ACA

REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING Farm Credit East’s principal executives and principal financial officers, or persons performing similar functions, are responsible for establishing and maintaining adequate internal control over financial reporting for the Association’s consolidated financial statements. For purposes of this report, “internal control over financial reporting” is defined as a process designed by, or under the supervision of the Association’s principal executives and principal financial officers, or persons performing similar functions, and effected by its Board of Directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting information and the preparation of the consolidated financial statements for external purposes in accordance with accounting principles generally accepted in the United States of America and includes those policies and procedures that: (1) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Association, (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial information in accordance with accounting principles generally accepted in the United States of America, and that receipts and expenditures are being made only in accordance with authorizations of management and directors of the Association, and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Association’s assets that could have a material effect on its consolidated financial statements. The Association’s management has completed an assessment of the effectiveness of internal control over financial reporting as of December 31, 2025. In making the assessment, management used the framework in Internal Control — Integrated Framework (2013), promulgated by the Committee of Sponsoring Organizations of the Treadway Commission, commonly referred to as the “COSO” criteria. Based on the assessment performed, the Association’s management concluded that as of December 31, 2025, the internal control over financial reporting was effective based upon the COSO criteria. Additionally, based on this assessment, the Association determined that there were no material weaknesses in the internal control over financial reporting as of December 31, 2025.

/s/ Michael J. Reynolds Chief Executive Officer

/s/ Andrew N. Grant Chief Financial Officer

March 13, 2026

Farm Credit East 2025 Annual Report

FARM CREDIT EAST, ACA

REPORT OF AUDIT COMMITTEE The consolidated financial statements were prepared under the oversight of the Audit Committee (Committee). The Committee is composed of four members from the Farm Credit East, ACA (Association) Board of Directors. In 2025, the Committee met six times. The Committee oversees the scope of the Association’s internal audit program, the independence of the outside auditors, the adequacy of the Association’s system of internal controls and procedures, and the adequacy of management’s action with respect to recommendations arising from those auditing activities. The Committee’s responsibilities are described more fully in the Association’s Internal Control Policy and the Audit Committee Charter. The Committee approved the appointment of PricewaterhouseCoopers LLP (PwC) as our independent auditors for 2025. Management is responsible for the Association’s internal controls and the preparation of the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America. PwC is responsible for performing an independent audit of the Association’s consolidated financial statements in accordance with generally accepted auditing standards in the United States of America and to issue a report thereon. The Committee’s responsibilities include monitoring and overseeing these processes. In this context, the Committee reviewed and discussed the Association’s audited consolidated financial statements for the year ended December 31, 2025, with management. The Committee also reviews with PwC the matters required to be discussed by Statements on Auditing Standards. Both PwC and the Association’s internal auditors directly provide reports on significant matters to the Committee. The Committee approves all non-audit services provided by PwC. In 2025, PwC was engaged for tax and audit related services and the Committee concluded these services were not incompatible with maintaining the auditors’ independence. Based on the foregoing review and discussions, and relying thereon, the Committee recommended that the Board of Directors include the audited consolidated financial statements in the Association’s Annual Report to Stockholders for the year ended December 31, 2025, and for filing with the FCA.

/s/ Joseph W. McWatters Audit Committee Chair Other Committee Members: David F. Folino Philip J. Jones James A. Robbins II

March 13, 2026

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Farm Credit East 2025 Annual Report

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FARM CREDIT EAST, ACA CONSOLIDATED BALANCE SHEETS

2025

December 31 (dollars in thousands)

ASSETS Loans Less: Allowance for credit losses on loans Net loans Cash Accrued interest receivable Investment in CoBank, ACB Premises and equipment, net Other assets Total Assets LIABILITIES Notes payable to CoBank, ACB Patronage distributions payable Accrued interest payable Reserve for unfunded commitments Other liabilities Total Liabilities MEMBERS' EQUITY Capital stock and participation certificates Additional paid-in capital Unallocated retained earnings Accumulated other comprehensive loss

2024

2023

14,256,227 96,319 14,159,908 36,000 69,834 368,228 26,495 152,747

12,917,865 78,272 12,839,593 25,252 66,672 332,231 26,958 124,967

11,503,603 66,253 11,437,350 31,259 64,958 295,590 27,940 103,495

14,813,212

13,415,673

11,960,592

11,928,497 145,000 38,419 11,130 60,381 12,183,427

10,762,587 140,000 38,169 14,699 73,566 11,029,021

9,498,822 130,000 38,342 19,767 98,991 9,785,922

19,893 354,163 2,263,907 (8,178)

19,481 354,163 2,042,072 (29,064)

18,956 354,163 1,845,429 (43,878)

Total Members' Equity

2,629,785

2,386,652

2,174,670

Total Liabilities and Members' Equity

14,813,212

13,415,673

11,960,592

The accompanying notes are an integral part of these statements.

Farm Credit East 2025 Annual Report

FARM CREDIT EAST, ACA CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

2025

Year Ended December 31 (dollars in thousands)

INTEREST INCOME Loans Other

Total interest income

864,434 3,808

2023 $

739,382 1,121

885,147

868,242

740,503

464,407 37 464,444 420,703 24,024 396,679

489,650 37 489,687 378,555 11,462 367,093

422,932 33 422,965 317,538 11,747 305,791

73,414 30,884 6,602 18,489

69,447 28,452 6,680 12,926

61,793 34,635 4,673 3,270

Total noninterest income

129,389

117,505

104,371

NONINTEREST EXPENSE Salaries and employee benefits Insurance Fund premiums Occupancy and equipment Other noninterest expenses Total noninterest expenses Income before income taxes Provision for income taxes

86,168 10,494 4,660 53,919 155,241 370,827 3,992

81,390 9,415 5,034 49,354 145,193 339,405 2,762

75,312 14,769 4,825 42,699 137,605 272,557 2,509

INTEREST EXPENSE Notes payable to CoBank, ACB Other Total interest expense Net interest income Provision for credit losses Net interest income after provision for credit losses NONINTEREST INCOME Patronage Financially related services Compensation on participation loans, net Loan fees and other noninterest income

Net Income

366,835

336,643

270,048

OTHER COMPREHENSIVE INCOME Net change in retirement plan liabilities Net change in cash flow hedges

6,838 14,048

4,772 10,042

925 40,147

Other Comprehensive Income

20,886

14,814

41,072

Comprehensive Income The accompanying notes are an integral part of these statements.

878,856 6,291

2024

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387,721

351,457

311,120

FARM CREDIT EAST, ACA CONSOLIDATED STATEMENTS OF CHANGES IN MEMBERS' EQUITY

(dollars in thousands)

Capital Stock and Participation Additional Certificates Paid-in Capital

Balance at December 31, 2022

18,374

354,163

18,374 $ 1,664 (1,082) -

1,720,025

(84,950) $

(14,644)

354,163 -

1,705,381 $ 270,048 (130,000)

(84,950) $ 41,072 -

1,992,968 311,120 1,664 (1,082) (130,000)

18,956 $ 1,754 (1,229) -

354,163 -

1,845,429 $ 336,643 (140,000)

(43,878) $ 14,814 -

2,174,670 351,457 1,754 (1,229) (140,000)

19,481 $ 1,494 (1,082) -

354,163 -

2,042,072 $ 366,835 (145,000)

(29,064) $ 20,886 -

2,386,652 387,721 1,494 (1,082) (145,000)

19,893

354,163

2,263,907

(8,178) $

2,629,785

Comprehensive Income Capital stock and participation certificates issued Capital stock and participation certificates retired Patronage Distribution Balance at December 31, 2023

Comprehensive Income Capital stock and participation certificates issued Capital stock and participation certificates retired Patronage Distribution Balance at December 31, 2024

Comprehensive Income Capital stock and participation certificates issued Capital stock and participation certificates retired Patronage Distribution Balance at December 31, 2025

Total Members' Equity

Adjustment to beginning balance due to change in accounting for credit losses, net of tax Balance at January 1, 2023, as adjusted

Accumulated Other Comprehensive Income/(Loss)

Unallocated Retained Earnings

2,007,612

The accompanying notes are an integral part of these statements.

Farm Credit East 2025 Annual Report

FARM CREDIT EAST, ACA CONSOLIDATED STATEMENTS OF CASH FLOWS

2025

Year Ended December 31 (dollars in thousands)

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation Provision for credit losses Increase in accrued interest receivable Increase (decrease) in accrued interest payable Increase (decrease) in other liabilities Increase in other assets Gain from sales of premises and equipment Total adjustments

336,643

2023 $

270,048

2,815 24,024 (6,926) 250 4,132 (24,095) (1,667) (1,467)

3,145 11,462 (4,610) (173) (15,679) (14,540) (772) (21,167)

2,888 11,747 (19,187) 10,941 3,687 (8,289) (552) 1,235

365,368

315,476

271,283

Increase in loans, net Increase in investment in CoBank Increase in investments Expenditures for premises and equipment Proceeds from sales of other property owned Proceeds from sales of premises and equipment

(1,340,669) (33,638) (5,950) (2,448) 1,763

(1,410,809) (34,382) (9,191) (2,457) 1,066

(940,139) (8,380) (3,579) (3,979) 1,078 612

Net cash used in investing activities

(1,380,942)

(1,455,773)

(954,387)

Increase in notes payable to CoBank, net Capital stock and participation certificates issued Capital stock and participation certificates retired Patronage distributions paid

1,165,910 1,494 (1,082) (140,000)

1,263,765 1,754 (1,229) (130,000)

794,003 1,664 (1,082) (117,000)

Net cash provided by financing activities

1,026,322

1,134,290

677,585

Net increase (decrease) in cash

10,748

(6,007)

(5,519)

Cash at beginning of year

25,252

31,259

36,778

Net cash provided by operating activities CASH FLOWS FROM INVESTING ACTIVITIES:

CASH FLOWS FROM FINANCING ACTIVITIES:

Cash at end of year SUPPLEMENTAL SCHEDULE OF NON-CASH ACTIVITIES:

Income taxes paid, net of refunds Accrued interest transferred to loans Loans transferred to other property owned Patronage distribution payable

The accompanying notes are an integral part of these statements.

366,835

2024

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36,000

25,252

31,259

3,015 3,764 94 145,000

2,878 2,896 140,000

1,840 2,301 130,000

FARM CREDIT EAST, ACA

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (dollars in thousands except as noted) NOTE 1 – ORGANIZATION, BUSINESS COMBINATION AND OPERATIONS Organization Farm Credit East, ACA, an Agricultural Credit Association (ACA) and its subsidiaries, Farm Credit East FLCA, a Federal Land Credit Association (FLCA), and Farm Credit East PCA, a Production Credit Association (PCA), (collectively called “the Association”), is a member-owned cooperative which provides credit and financial related services to or for the benefit of eligible customers for qualified agricultural purposes in the states of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont. The Association is a lending institution of the Farm Credit System (the System), a nationwide system of cooperatively owned banks and associations, which was established by acts of Congress to meet the credit needs of American agriculture and is subject to the provisions of the Farm Credit Act of 1971, as amended (the Farm Credit Act). At December 31, 2025, the System was comprised of three Farm Credit Banks (FCBs), one Agricultural Credit Bank (ACB) and 55 affiliated associations. CoBank, ACB (CoBank or ACB) is Farm Credit East’s funding bank. CoBank, ACB (funding bank or the “Bank”), its related associations and AgVantis, Inc. (AgVantis) are collectively referred to as the “District.” CoBank provides the funding to associations within the District and is responsible for supervising certain activities of the District Associations. The CoBank District consists of CoBank, 16 Agricultural Credit Associations, which each have two wholly owned subsidiaries (a FLCA and a PCA), and AgVantis. ACA parent companies provide financing and related services through their FLCA and PCA subsidiaries. Generally, the FLCA makes secured long-term agricultural real estate and rural home mortgage loans and the ACA or PCA make short and intermediateterm loans for agricultural production or operating purposes. Farm Credit East, ACA, along with two other System Institutions, owns Farm Credit Financial Partners, Inc. (FPI), which primarily provides technology services to its owners. The Farm Credit Administration (FCA) is delegated authority by Congress to regulate the System Banks and Associations. The FCA examines the activities of System Associations to ensure their compliance with the Farm Credit Act, FCA regulations, and safe and sound banking practices. The Farm Credit Act established the Farm Credit System Insurance Corporation (Insurance Corporation) to administer the Farm Credit Insurance Fund (Insurance Fund). The Insurance Fund is required to be used (1) to insure the timely payment of principal and interest on System-wide debt obligations (insured debt), (2) to ensure the retirement of protected borrower capital at par or stated value, and (3) for other specified purposes. The Insurance Fund is also available

for the discretionary use by the Insurance Corporation to provide assistance to certain troubled System institutions and to cover the operating expenses of the Insurance Corporation. Each System Bank has been required to pay premiums, which may be passed onto the Association, into the Insurance Fund, based on its annual average adjusted outstanding insured debt until the monies in the Insurance Fund reach the “secure base amount,” which is defined in the Farm Credit Act as 2.0% of the aggregate insured obligations (adjusted to reflect the reduced risk on loans or investments guaranteed by federal or state governments) or such other percentage of the aggregate obligations as the Insurance Corporation in its sole discretion determines to be actuarially sound. When the amount in the Insurance Fund exceeds the secure base amount, the Insurance Corporation is required to reduce premiums, as necessary to maintain the Insurance Fund at the 2.0% level. As required by the Farm Credit Act, as amended, the Insurance Corporation may return excess funds above the secure base amount to System institutions. Operations The Farm Credit Act sets forth the types of authorized lending activity, persons eligible to borrow, and financial services which can be offered by the Association. The Association is authorized to provide, either directly or in participation with other lenders, credit, credit commitments and related services to eligible borrowers. Eligible borrowers include farmers, ranchers, producers or harvesters of aquatic or forest products, their cooperatives, rural residents and farm-related businesses. The Association provides additional services to borrowers such as financial recordkeeping, payroll, tax return preparation, tax planning, farm accounting software, fee appraisals, farm business consulting and leasing. The Association also offers credit life insurance and multi-peril crop insurance to its borrowers, as an agent. The Association’s financial condition may be impacted by factors which affect CoBank. The CoBank Annual Report is available free of charge on CoBank’s website, www.cobank.com, or may be obtained at no charge by contacting the Association. Upon request, stockholders of the Association will be provided with a copy of the CoBank Annual Report. CoBank’s Annual Report to Stockholders discusses the material aspects of its financial condition, changes in financial condition and results of operations. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation, Consolidation and Use of Estimates The consolidated financial statements (the “financial statements”) of the Association have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) and prevailing practices within the banking industry. In consolidation, all significant intercompany accounts and transactions are eliminated. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent liabilities at the date of the financial statements. Material estimates that are particularly susceptible to significant change in Farm Credit East 2025 Annual Report

the near term relate to the determination of the allowance for credit losses and the valuation of deferred tax assets. Actual results could differ from those estimates. Significant estimates are discussed in these footnotes to consolidated financial statements, as applicable. Certain amounts in prior year’s financial statements have been reclassified to conform to current financial statement presentation.

(2) clarifies that the revenue guidance in ASC 606 applies to sharebased noncash consideration received from customers. The standard is effective for annual periods starting after December 15, 2026, with early adoption permitted. The Association is currently evaluating the potential impact of adoption on the Association’s financial condition, results of operations and cash flows.

Recently Issued or Adopted Accounting Pronouncements In December 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2025-11 Interim Reporting (Topic 270): Narrow-Scope Improvements. The update provides narrow-scope improvements to interim reporting guidance (ASC 270) to enhance clarity, navigability and completeness of interim financial statements and disclosures, without fundamentally changing reporting requirements. Key changes include clarifying who is subject to ASC 270, adding comprehensive lists of required disclosures from other Codification topics, and establishing a principle to disclose events since the end of the last annual reporting period that have a material impact on the entity. The standard is effective for public business entities for interim reporting periods within annual reporting periods beginning after December 15, 2027, and for other entities after December 15, 2028, with early adoption permitted. The Association is currently evaluating the potential impact of adoption on the Association’s financial condition, results of operations and cash flows.

In September 2025, the FASB issued ASU 2025-06 Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. The amendment introduces several key changes: (1) eliminates the stage-based rules for capitalization, (2) replaces these rules with a principles-based framework where capitalization occurs when management has authorized and committed to funding, and it is probable that the project will be completed and the software used as intended, (3) clarifies website developments costs and (4) modifies the disclosure requirements for capitalized software costs. The standard is effective for annual periods starting after December 15, 2027, with early adoption permitted as of the beginning of any annual reporting period. The Association is currently evaluating the potential impact of adoption on the Association’s financial condition, results of operations and cash flows.

In November 2025, the FASB issued ASU 2025-09 Derivatives and Hedging (Topic 815): Hedge Accounting Improvements. The amendment simplifies hedge accounting by allowing broader grouping of forecasted transactions with “similar risk exposure” (not identical), provides a new model for hedging “choose-your-rate” debt, expanding nonfinancial component hedging, and clarifying the use of net written options as instruments, aiming to reduce complexity and better align accounting with actual risk management. The standard is effective for public business entities for annual periods (including interim periods within those annual periods) starting after December 15, 2026, and for other entities a year later (after December 15, 2027), with early adoption permitted. The Association is currently evaluating the potential impact of adoption on the Association’s financial condition, results of operations and cash flows. In November 2025, the FASB issued ASU 2025-08 Financial Instruments - Credit Losses (Topic 326) - Purchased Loans. The amendment simplifies accounting for purchased loans by expanding the “gross-up” method to “purchased seasoned loans” (PSLs). This eliminates the Day 1 credit loss expense for most acquired loans, improves comparability and reduces earnings volatility by creating a more consistent accounting approach similar to that used for previously purchased credit-deteriorated (PCD) loans. The standard is effective for annual periods beginning after December 15, 2026, including interim periods within those years. Early adoption is permitted. The Association is currently evaluating the potential impact of adoption on the Association’s financial condition, results of operations and cash flows. In September 2025, the FASB issued ASU 2025-07 Derivatives and Hedging and Revenue from Contracts with Customers. The amendment: (1) updates the accounting rules for businesses by providing a scope exception for certain derivative contracts that are based on operations or activities specific to one of the parties, and 23

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In December 2023, the FASB issued ASU 2023-09 - Income Taxes: Improvements to Income Tax Disclosures. The amendments in this standard require more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The amendments in this standard require qualitative disclosure about specific categories of reconciling items and individual jurisdictions that result in a significant difference between the statutory tax rate and the effective tax rate. The amendments are effective for annual periods beginning after December 15, 2025. The adoption of this guidance is not expected to have a material impact on the Association’s financial condition, results of operations or cash flows, but will impact the income tax disclosures. Below is a summary of the Association’s significant accounting policies. Loans and Allowance for Credit Losses Long-term real estate mortgage loans generally have maturities ranging from 5 to 40 years. Substantially, all short-term and intermediate-term loans for agricultural production or operating purposes have maturities of 10 years or less. Loans are carried at their principal amount outstanding adjusted for charge-offs and deferred loan fees or costs. Loan origination fees and direct loan origination costs are capitalized, and the net fee or cost is amortized over the life of the related loan as an adjustment to yield. Interest on loans is accrued and credited to interest income based upon the daily principal amount outstanding. Nonaccrual Loans A loan is considered a nonaccrual loan if there is a known risk to the collection of principal and interest according to the original contractual terms and are generally considered substandard or doubtful, which is in accordance with the loan rating model, as described below. A loan is considered contractually past due when any principal repayment or interest payment required by the loan instrument is not received on or before the due date. A loan shall

remain contractually past due until it is modified or until the entire amount past due, including principal, accrued interest and penalty interest incurred as the result of past due status, is collected or otherwise discharged in full. Consistent with prior practice, loans are generally placed in nonaccrual status when principal or interest is delinquent for 90 days (unless adequately secured and in the process of collection), circumstances indicate that collection of principal and interest is in doubt or legal action, including foreclosure or other forms of collateral conveyance, has been initiated to collect the outstanding principal and interest. At the time a loan is placed in nonaccrual status, accrued interest that is considered uncollectible is reversed (if accrued in the current year) or charged against the allowance for loan losses (if accrued in prior years). Loans are charged off at the time they are determined to be uncollectible. When loans are in nonaccrual status, the Association’s general practice is to apply and record on its financial records any payments received on nonaccrual loans in the following sequence: (1) to existing principal which includes outstanding principal and accrued interest receivable as of the date of transfer into nonaccrual status plus any additional advances made since the loan was placed in nonaccrual status; (2) to recover any charged-off amount; and (3) to interest income. Nonaccrual loans may, at times, be maintained on a cash basis. Generally, cash basis refers to the recognition of interest income from cash payments received on certain nonaccrual loans for which the collectability of the recorded investment in the loan is no longer in doubt and the loan does not have a remaining unrecovered prior charge-off associated with it. Nonaccrual loans are returned to accrual status when principal and interest are current, and reinstatement is supported by a period of sustained performance in accordance with the contractual terms of the note and/or loan agreement and the loan is not classified “doubtful” or “loss.” Accrued interest receivable The Association elected to continue classifying accrued interest on loans in accrued interest receivable and not as part of loans on the consolidated balance sheet. The Association also elected to not estimate an allowance on interest receivable balances because the nonaccrual policies in place provide for the accrual of interest to cease on a timely basis when all contractual amounts are not expected. Loan Modifications to Borrowers Experiencing Financial Difficulty Loan modifications may be granted to borrowers experiencing financial difficulty. Modifications can be in the form of one or a combination of principal forgiveness, interest rate reduction, otherthan-insignificant payment delay, or a term extension. Covenant waivers and modifications of contingent acceleration clauses are not considered term extensions. Collateral dependent loans Collateral dependent loans are loans secured by collateral, including but not limited to agricultural real estate, crop inventory, equipment and livestock. An entity is required to measure the current expected credit losses (CECL) of collateral dependent loans based on fair value of the collateral at the reporting date when the entity determines that foreclosure is probable. Additionally, CECL allows a fair value

practical expedient as a measurement approach for loans when the repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulties. Under the practical expedient measurement approach, the expected credit losses are based on the difference between the fair value of the collateral less estimated costs to sell and the amortized cost basis of the loan. The Association has elected the practical expedient. Allowance for Credit Losses Effective January 1, 2023, the Allowance for Credit Losses represents the estimated current expected credit losses over the remaining contractual life of financial assets measured at amortized cost and certain off-balance sheet credit exposures. The ACL takes into consideration relevant information about past events, current conditions, and reasonable and supportable macroeconomic forecasts of future conditions. The contractual term excludes expected extensions, renewals and modifications unless the extension or renewal options are not unconditionally cancellable. The ACL comprises: •

the allowance for credit losses on loans (ACLL), which covers the loan portfolio and is presented separately on the balance sheet,

•

the reserve for credit losses on unfunded commitments, which is presented separately on the balance sheet.

ACLL Determining the appropriateness of the ACLL is complex and requires judgment by management about the effect of matters that are inherently uncertain. Subsequent evaluations of the loan portfolio may result in significant changes in the ACL in those future periods. Loans are evaluated on the amortized cost basis, including premiums and discounts. The Association’s approach to estimating the ACLL utilizes multiple economic scenarios over a reasonable and supportable forecast period. The vendor provided forecasts are produced by an economic model that is based on information from past business cycles and current conditions and converge to a long-run equilibrium trend. Mean reversion in the forecasts is specific to each economic indicator, with forecasts being considered reasonable and supportable over a period of one to three years, followed by a reversion to long-term equilibrium trends within two to three years from the forecast start date. As mean reversion occurs within the economic forecasts (i.e., input reversion), the Association uses the forecast values over the entire life of loan to determine estimated credit losses. The economic forecasts are updated on a quarterly basis. These factors include, but are not limited to, macroeconomic variables such as unemployment rates, adjusted for government subsidies, agricultural commodity prices and price indices, and utilities sales and price indices. Also considered are loan and borrower characteristics, such as internal risk ratings, loan type, collateral position, and the remaining term of the loan, adjusted for expected prepayments. In addition to the quantitative calculation, the Association considers the imprecision inherent in the process and methodology, emerging risk assessments, and other subjective factors, which may lead to a management adjustment to the modeled ACLL results.

Farm Credit East 2025 Annual Report

The Association employs a disciplined process and methodology to establish its ACLL that has two basic components: first, an assetspecific component involving individual loans that do not share risk characteristics with other loans and the measurement of expected credit losses for such individual loans; and second, a pooled component for estimated expected credit losses for pools of loans that share similar risk characteristics. Asset-specific loans are generally collateral dependent loans and nonaccrual loans. For these loans, the credit loss is measured as the difference between the amortized cost basis in the loan and the fair value of the underlying collateral. The fair value of the collateral is adjusted for the estimated cost to sell if repayment or satisfaction of a loan is dependent on the sale (rather than only on the operation) of the collateral. In accordance with the Association’s appraisal policy, the fair value of collateral-dependent loans is based upon independent third-party appraisals or on collateral valuations prepared by in-house appraisers. When an updated appraisal or collateral valuation is received, management reassesses the need for adjustments to the loan’s expected credit loss measurements and, where appropriate, records an adjustment. If the calculated expected credit loss is determined to be permanent, fixed or non-recoverable, the credit loss portion of the loan will be charged off against the allowance for credit losses.

Reserve for Credit Losses on Unfunded Commitments The Association evaluates the need for an allowance for credit losses on unfunded commitments under CECL and, if required, an amount is recognized and is shown as a liability on the consolidated balance sheet. The amount of expected losses is determined by calculating a commitment usage factor over the contractual period for exposures that are not unconditionally cancellable by the institution and applying the loss factors used in the ACLL methodology to the results of the usage calculation. No allowance for credit losses is recorded for commitments that are unconditionally cancellable.

In estimating the component of the ACLL that share common risk characteristics, loans are evaluated collectively and segregated into loan pools considering the risk associated with the specific pool. Relevant risk characteristics include loan type, commodity, probability of default (PD) rating, business segment, or a combination of these classes. The allowance is determined based on a quantitative calculation of the expected life-ofloan loss percentage for each loan category by considering the probability of default, based on the migration of loans from performing to loss by PD rating using historical life-of-loan analysis periods, and the severity of loss, based on Farm Credit System guidance on expected loss rates for each loss given default (LGD) category.

Cash Cash, as included in the consolidated financial statements, represents cash on hand and on deposit at financial institutions. The nature of the Association’s business requires that it maintain amounts due from banks which, at times, may exceed federally insured limits. The Association has not experienced any losses on such amounts, and all amounts are maintained with well-capitalized institutions.

The components of the ACLL also considers factors for each loan pool to adjust for differences between the historical period used to calculate historical default and loss severity rates and expected conditions over the remaining lives of the loans in the portfolio related to:

•

lending policies and procedures;

•

national, regional and local economic business conditions and developments that affect the collectability of the portfolio, including the condition of various markets;

•

the nature of the loan portfolio, including the terms of the loans;

•

the experience, ability and depth of the lending management and other relevant staff;

•

the volume and severity of past due and adversely classified or graded loans and the volume of nonaccrual loans;

•

the quality of the loan review and process;

•

the value of underlying collateral for collateral-dependent loans;

•

the existence and effect of any concentrations of credit and changes in the level of such concentrations; and

•

the effect of external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the existing portfolio.

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Also adopted, effective January 1, 2023, was ASU 2022-02 - Financial Instruments: Credit Losses - Troubled Debt Restructurings and Vintage Disclosure. This guidance requires the creditor to determine whether a modification results in a new loan or a continuation of an existing loan, among other disclosures specific to modifications with borrowers that are experiencing financial difficulties. The update eliminated the accounting guidance for troubled debt restructurings by creditors. The update also requires disclosure of current period gross write-offs by year of origination for financing receivables and net investments in leases on a prospective basis.

Investment in CoBank, ACB The Association’s investment in CoBank is in the form of Class A stock. The minimum required investment is 3.0% of the prior one-year average direct loan volume. The investment in CoBank is comprised of patronage-based stock and purchased stock. The requirement for capitalizing patronage-based participation loans sold to CoBank is 7.0% of the prior ten-year average of such participations sold to CoBank. Accounting for this investment is on the cost plus allocated equities basis. Other Property Owned Other property owned, consisting of real and personal property acquired through foreclosure or deed in lieu of foreclosure, is recorded at fair value less estimated selling costs upon acquisition. Any initial reduction in the carrying amount of a loan to the fair value of the collateral received is charged to the allowance for credit losses. On at least an annual basis, revised estimates to the fair value less cost to sell are reported as adjustments to the carrying amount of the asset, provided that such adjusted value is not in excess of the carrying amount at acquisition. Income and expenses from operations and carrying value adjustments are included in other operating expenses in the consolidated statements of comprehensive income. Premises and Equipment Premises and equipment are carried at cost less accumulated depreciation. Land is carried at cost. Depreciation is provided on the straight-line method over the estimated useful lives of the assets. Gains and losses on dispositions are reflected in current operating results. Maintenance and repairs are expensed, and improvements above

certain thresholds are capitalized. Long-lived assets are reviewed for impairment whenever events or circumstances indicate the carrying amount of an asset group may not be recoverable. Other Assets and Other Liabilities Other assets are comprised primarily of patronage receivable from CoBank, accounts receivable, investments other than CoBank, derivative assets and linked deposit program assets. Significant components of other liabilities primarily include pension and other post-retirement benefits, accrued salaries and employee benefits, accounts payable and derivative liabilities. Employee Benefit Plans Substantially all employees of the Association may be eligible to participate in various retirement plans. Association employees (except the former Maine and Yankee employees who are participants in the noncontributory defined contribution plan) hired prior to January 1, 2007, participate in a qualified defined benefit pension plan, which is noncontributory and covered substantially all employees. The net expense for this plan is recorded as employee benefit expense. The “Projected Unit Credit” actuarial method is used for financial reporting and funding purposes. Effective January 1, 2007, the Association closed the existing defined benefit pension plan to new participants. All employees hired on or after January 1, 2007, are participants in a noncontributory defined contribution plan. Participants in this plan receive a fixed percentage of their eligible wages, based on years of service, to an investment account maintained for the employee. Costs for this plan are expensed as funded and recorded as employee benefit expense. Association employees are also eligible to participate in an employee savings plan (Thrift Plan). The Association matches a certain percentage of employee contributions with costs being expensed as funded. These costs are recorded as employee benefit expense. The Association provides certain health care and life insurance benefits to eligible retired employees. Substantially all employees may become eligible for these benefits if they reach normal retirement age while working for the Association. The anticipated costs of these benefits are accrued during the period of the employee’s active service and are classified as employee benefit expense. However, substantially all participants pay the full premiums associated with these benefits. The Association recognizes in its consolidated balance sheet an asset for a retirement plan’s overfunded status or a liability for a retirement plan’s underfunded status. The Association also measures the Plan’s assets and obligations that determine its funded status as of the end of the fiscal year and recognizes those changes in other comprehensive income, net of tax. Income Taxes As previously described, Farm Credit East, ACA operates two wholly owned subsidiaries. Farm Credit East, FLCA is exempt from federal and other income taxes as provided in the Farm Credit Act. Farm Credit East, ACA, and its subsidiary Farm Credit East, PCA are subject to Federal and State income tax. All entities are eligible to operate as cooperatives that qualify for tax treatment under

Subchapter T of the Internal Revenue Code. Accordingly, under specified conditions, the Association can exclude from taxable income amounts distributed as qualified patronage refunds in the form of cash, stock or allocated retained earnings. Provisions for income taxes are made only on those earnings that will not be distributed as qualified patronage refunds. The Association distributes patronage on the basis of book income. Operating expenses are allocated to each subsidiary based on estimated relative service. Deferred taxes are recorded on the tax effect of all temporary differences. A valuation allowance is provided against deferred tax assets to the extent that it is more likely than not (over 50% probability), based on management’s estimate, that they will not be realized. The consideration of valuation allowances involves various estimates and assumptions as to future taxable earnings, including the effects of our expected patronage program, which reduces taxable earnings. Patronage distributions from CoBank, ACB The Association records patronage distributions from CoBank on the accrual basis. Under the current CoBank capital plan, CoBank distributes patronage from the Association’s direct lending business in cash. For patronage applicable to participations sold to CoBank, patronage is distributed in 75% cash and 25% CoBank Class A stock. Accrued patronage receivable is included in other assets in the consolidated financial statements. Derivative Instruments and Hedging Activity The Association is party to derivative financial instruments, primarily interest rate swaps, which are principally used to manage interest rate risk on assets, liabilities and anticipated transactions. Derivatives are recorded on the balance sheet as other assets and other liabilities at fair value. Changes in the fair value of a derivative are recorded in current period earnings or accumulated other comprehensive income (loss) depending on the use of the derivative and whether it qualifies for hedge accounting. For fair-value hedge transactions, which hedge changes in the fair value of assets, liabilities or firm commitments, changes in the fair value of the derivative are recorded in earnings and will generally be offset by changes in the hedged item’s fair value. For cash-flow hedge transactions, which hedge the variability of future cash flows related to a variable-rate asset, liability or a forecasted transaction, changes in the fair value of the derivative will generally be deferred and reported in accumulated other comprehensive income (loss). The gains and losses on the derivative that are deferred and reported in accumulated other comprehensive income (loss) will be reclassified as earnings in the periods in which earnings are impacted by the variability of the cash flows of the hedged item. For derivatives not designated as a hedging instrument, the related change in fair value is recorded in current period earnings. The Association formally documents all relationships between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions. This process includes linking all derivatives that are designated as fair value or cash flow hedges to (1) specific assets or liabilities on the balance sheet or (2) firm commitments or forecasted transactions.

Farm Credit East 2025 Annual Report

The Association also formally assesses (both at the hedge’s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. The Association may use regression analysis (or statistical analysis) to assess the effectiveness of its hedges. The Association discontinues hedge accounting prospectively when the Association determines that (1) a derivative is no longer effective in offsetting changes in the fair value or cash flows of a hedged item; (2) the derivative expires or is sold, terminated or exercised; (3) it is no longer probable that the forecasted transaction will occur; (4) a hedged firm commitment no longer meets the definition of a firm commitment; or (5) management determines that designating the derivative as a hedging instrument is no longer appropriate. For cash flow hedges, when the Association discontinues hedge accounting, any remaining accumulated other comprehensive income (loss) would be amortized into earnings over the remaining life of the original hedged item. For fair value hedges, when the Association discontinues hedge accounting, changes in the fair value of the derivative will be recorded in current period earnings. In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Association will carry the derivative at its fair value on the balance sheet, recognizing changes in fair value in current period earnings. Other Comprehensive Income (Loss) Other comprehensive income (loss) refers to revenue, expenses, gains and losses that under GAAP are recorded as an element of members’ equity and comprehensive income but are excluded from net income. Accumulated other comprehensive income (loss) refers to the balance of these transactions. Farm Credit East records other comprehensive income adjustments associated with the Pension Plan (see Note 11) and adjustments related to derivative contracts used to manage interest rate risk on loans (see Note 16). Fair Value Measurement The Accounting guidance defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. It describes three levels of inputs that may be used to measure fair value. Level 1 — Quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 asset and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as certain U.S. Treasury, other U.S. Government and agency mortgage-backed debt securities that are highly liquid and are actively traded in over-the-counter markets. Also included in Level 1 are assets held in trust funds, which relate to the Association’s deferred compensation plan and our supplemental retirement plan. The trust funds include investments that are actively traded and have quoted net asset values that are observable in the marketplace. Pension plan assets that are invested in equity securities, including mutual funds and fixed-income securities that are actively traded, are also included in Level 1. Level 2 — Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability either

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directly or indirectly. Level 2 inputs include the following: (1) quoted prices for similar assets or liabilities in active markets; (2) quoted prices for identical or similar assets or liabilities in markets that are not active so that they are traded less frequently than exchangetraded instruments, the prices are not current or principal market information is not released publicly; (3) inputs other than quoted prices that are observable such as interest rates and yield curves, prepayment speeds, credit risks and default rates; and (4) inputs derived principally from or corroborated by observable market data by correlation or other means. This category generally includes certain U.S. Government and agency mortgage-backed debt securities, corporate debt securities, and derivative contracts. Pension plan assets that are derived from observable inputs, including corporate bonds and mortgage-backed securities are reported in Level 2. Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. These unobservable inputs reflect the reporting entity’s own assumptions about assumptions that market participants would use in pricing the asset or liability. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category generally includes certain private equity investments, retained residual interests in securitizations, asset-backed securities, highly structured or long-term derivative contracts, certain loans Rural Business Investment Companies (RBIC) and other property owned. Pension plan assets such as certain mortgage-backed securities that are supported by little or no market data in determining the fair value are included in Level 3. The fair value disclosures are presented in Note 15 of these consolidated financial statements. Off-Balance Sheet Credit Exposures Commitments to extend credit are agreements to lend to customers, generally having fixed expiration dates or other termination clauses that may require payment of a fee. Commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. These letters of credit are issued to facilitate commerce and typically result in the commitment being funded when the underlying transaction is consummated between the customer and third party. The credit risk associated with commitments to extend credit and commercial letters of credit is essentially the same as that involved with extending loans to customers and is subject to normal credit policies. Collateral may be obtained based on management’s assessment of the customer’s creditworthiness.

NOTE 3 – Loans and Allowance for Credit Losses NOTE 3 – Loans and Allowance for Credit Losses NOTE – LOANS AND ALLOWANCE FOR CREDIT LOSSES Loans3Outstanding Loans LoansOutstanding outstanding by loan type are shown below. Loans Outstanding Loans outstanding by loan type are shown below. Loans outstanding by loan type are shown below. December 31 Real estate December 31mortgage Production and intermediate Real estate mortgage Agribusiness Production and intermediate Rural infrastructure Agribusiness Rural residential real estate Rural infrastructure Other Rural residential real estate Total Loans Other Total Loans

2025 $2025 5,127,014 4,784,408 $ 5,127,014 3,382,077 4,784,408 797,128 3,382,077 117,076 797,128 48,524 117,076 $ 14,256,227 48,524 $ 14,256,227

2024 2023 36.0% $ 2024 4,775,932 37.0% $ 2023 4,453,459 38.7% 33.6 $ 4,775,932 4,112,724 37.0% 31.8 $ 4,453,459 3,728,814 32.4 36.0% 38.7% 3,121,886 31.824.2 2,563,179 33.623.7 4,112,724 3,728,814 32.422.3 766,220 24.2 5.9 636,870 23.75.6 3,121,886 2,563,179 22.35.5 97,984 80,044 5.6 0.8 766,220 5.9 0.8 636,870 5.5 0.7 43,119 41,237 0.8 0.3 97,984 0.8 0.3 80,044 0.7 0.4 100.0% $ 12,917,865 100.0% $ 11,503,603 100.0% 0.3 43,119 0.3 41,237 0.4 100.0% $ 12,917,865 100.0% $ 11,503,603 100.0%

The Association may purchase or sell participation interests with other parties in order to diversify risk, manage loan The Association maypurchase purchase sell participation interests with other order risk, to diversify risk, manage loan with FCA volume and comply with FCA The following table presents regarding participations The Association may or or sellregulations. participation interests with other parties in parties orderinformation to in diversify manage loan volume and comply volume and comply FCA regulations. The following table information regarding participations regulations. The table presents information regarding participations purchased soldabove. as of December 31, 2025, which are also included purchased andfollowing soldwith as of December 31, 2025, which are also presents included in theand table in the tableand above. purchased sold as of December 31, 2025, which are also included in the table above. CoBank, ACB Participations CoBank, ACB

Participations Purchased Sold Purchased Sold Real estate mortgage $ 2,989 $ 245,866 and intermediate $ 156,065 $ 245,866 278,368 RealProduction estate mortgage 2,989 Agribusiness 858,799 614,376 Production and intermediate 156,065 278,368 Rural infrastructure 795,077 Agribusiness 858,799 614,376 Other 48,043 4,951 Rural infrastructure 795,077 Total Loans $1,860,973 $1,143,561 Other 48,043 4,951 Total Loans $1,860,973 $1,143,561

Other Farm Credit

Non-Farm Credit Institutions Non-Farm Credit Participations Institutions Participations Purchased Sold

Institutions Other Farm Credit Participations Institutions Participations Purchased Sold Purchased $ 436,378 940,470 $ 436,378 719,973 940,470 9,974 719,973 9,974 $ 2,106,795 $ 2,106,795

Sold $ 46,908 83,353 46,908 684,756 83,353 684,756 - $ 815,017 -

$ 815,017

Total Participations Total Participations Purchased Sold

Purchased Sold $ 486 $ - Purchased $ 439,853 $Sold292,774 12,751 $ 1,109,286 $ 292,774 361,721 $ 486 - - $ 439,853 3,719 25,131 1,582,491 1,324,263 12,751 1,109,286 361,721 805,051 1,324,263 3,719 25,131 1,582,491 48,043 4,951 - - 805,051 $ 16,956 $ 25,131 $ 48,043 3,984,724 $ 1,983,709 4,951 $

16,956

$ 25,131

3,984,724

$ 1,983,709

Credit Quality Credit Quality Credit CreditQuality risk arises from the potential inability of an obligor to meet its payment obligation and exists in our Credit risk arises from the potential inability of an obligor to meet its payment obligation and exists in our outstanding loans, letters of credit Credit risk arises fromletters the potential of an obligor to meet its payment obligationmanages and exists in our outstanding loans, of creditinability and unfunded loan commitments. The Association credit risk associated and unfunded loan commitments. The Association manages credit risk associated with the retail lending activities through an analysis of the outstanding loans,lending letters activities of credit and unfunded loan commitments. Theprofile Association manages credit risk using associated with the retail through an analysis of the credit risk of an individual borrower its own credit risk profile of an individual borrower using its own set of underwriting standards and lending policies. The credit risk management process with the retail lending standards activities through an analysis ofThe the credit credit risk risk management profile of an process individual borrower using its own set of underwriting and lending policies. begins with an analysis of begins with an analysis of the borrower’s credit history, repayment capacity, financial position and collateral, which includes an analysis of credit setthe of underwriting standards andrepayment lending policies. The credit risk management processwhich begins with anananalysis ofof borrower’s credit history, capacity, financial position and collateral, includes analysis scores for smaller loans. Repayment capacity focuses on the borrower’s ability to repay the loan based on cash flows from operations or other thecredit borrower’s credit history, repayment capacity, financial position collateral, whichtoincludes an analysis ofon cash for smaller Repayment capacity focuses on theand borrower’s ability repay based(collateral). sourcesscores of income, includingloans. off-farm income. Real estate mortgage loans must be secured by first liens onthe theloan real estate As required credit scores for smaller loans. Repayment capacity focuses on off-farm the borrower’s ability to repay the loan loans basedmust on cash flows from operations or other sources of income, including income. Real estate mortgage be Long-term real by FCA regulations, each institution that makes loans on a secured basis must have collateral evaluation policies and procedure. flows fromby operations oronother sources of(collateral). income, including off-farm FCA income. Real estate mortgage loans be secured first the real institution thatmust makes estate loans are notliens to exceed 85% of estate the appraised value ofAstherequired propertyby taken as regulations, security or upeach to 97% of the appraised value if guaranteed by secured by first liens on themust real estate (collateral). As required by FCA regulations,Long-term each institution that makes loans on a secured basis have collateral evaluation policies and procedure. real estate loans are not a governmental agency. The actual loan to appraised value when loans are made is generally lower than the statutory maximum percentage. loans on a secured basis must havevalue collateral evaluation policies and procedure. Long-term real estate loans are not to exceed 85% of the appraised of the property taken as security or up to 97% of the appraised value if Loans other than real estate mortgage may be made on a secured or unsecured basis. to guaranteed exceed 85%by ofathe appraised value of the takentoasappraised security value or up to 97%loans of the value if lower governmental agency. Theproperty actual loan when areappraised made is generally guaranteed by a governmental agency. The Loans actual other loan tothan appraised value when loans are made on is generally lower than the statutory maximum percentage. real estate mortgage may be a secured or with the Federal To mitigate the risk of loan losses, the Association may enter into long-term standby commitments to purchase agreements than the statutory maximum percentage. Loans other than real estate mortgage may be made on a secured or unsecured basis. Agricultural Mortgage Corporation (Farmer Mac). The agreements, which are effectively credit guarantees that will remain in place until the unsecured basis. loans are paid in full, give the Association the right to sell the loans identified in the agreements to Farmer Mac in the event of default (typically To mitigate the due), risk of loan to losses, theconditions. Association enter into long-term standby commitments to purchase four months past subject certain Themay balance of loans under long-term standby commitments was $0.8 million, $0.9 million Toand mitigate thewith risk of loan losses, the Association mayCorporation enter into long-term standby commitments to purchase agreements Federal Mortgage (FarmertoMac). The agreements, which $2.4 million at the December 31,Agricultural 2025, 2024 and 2023, respectively. In addition Farmer Mac, the Association hasare credit enhancements agreements with the Federal Agricultural Mortgageplace Corporation (Farmer The agreements, which are 2025, effectively credit guarantees that will remain until the loansmillion areMac). paid full, give theatAssociation right to and 2023, with federal and state government agencies totalingin$374.0 million, $348.1 andin$345.5 million December 31,the 2024 effectively credit guarantees that will remain in place until the loans are paid in full, give the Association the right to sell the loans identified in the agreements to Farmer Mac in the event of default (typically four months past due), respectively. sellsubject the loans identified in the agreements to Farmer in long-term the event of defaultcommitments (typically four months past due), to certain conditions. The balance of loansMac under standby was $0.8 million, $0.9 subject to certain conditions. The balance of loans under long-term standby commitments was $0.8 million, $0.9 million and $2.4 million at December 31, 2025, 2024 and 2023, respectively. In addition to Farmer Mac, the The Association uses a two-dimensional loan risk rating model based on internally generated combined System risk rating guidance that million and $2.4 million at December 2025, 2024 andstate 2023, respectively. In addition to Mac, the Association creditrisk-rating enhancements federal and government agencies totaling $374.0 million, $348.1 loss given incorporates ahas 14-point scale 31, towith identify and track the probability of borrower default andFarmer a separate scale addressing Association has credit enhancements with federal and state government agencies totaling $374.0 million, $348.1 will experience a millionover anda $345.5 at December 31, 2025, and 2023, respectively. default period ofmillion time. Probability of default rating2024 is management’s assumptions of the probability that a borrower million $345.5 millionfrom at December 2025, 2024 and 2023, defaultand within 12 months the date of 31, the determination of the riskrespectively. rating. A default is considered to have occurred if the lender believes The Association uses a two-dimensional loan risk rating model internally combined System the borrower will not be able to pay its obligation in full or the borrowerbased is paston due more thangenerated 90 days. The loss given defaultrisk is management’s The Association uses a two-dimensional loan risk rating model based on internally generated combined System rating guidance that incorporates a 14-point risk-rating scale to identify and track the probability of borrower default assumption of the anticipated principal loss on a specific loan assuming default occurs during the remaining life of the loan.risk This credit risk rating that incorporates aloss 14-point risk-rating scale to identify and track the probability of borrower default and guidance a process separate scale addressing default over period of time. Probability of default rating incorporates objective andgiven subjective criteria to aidentify inherent strengths, weaknesses andrating risks inisa particular relationship. and a separate scale addressing loss given default over a period of time. Probability of default rating is management’s assumptions of the probability that a borrower will experience a default within 12 months from the The Association reviews the probability of default category when a credit action is taken. management’s assumptions of the probability that a borrower will experience a default if within 12 months from date of the determination risk rating. A default is considered to have occurred the lender believes thethe date of of thethe determination of the risk A default is or considered to have occurred if the lender believes the borrower will not be of able to pay itsrating. obligation full the borrower is past due more than 90 days. loss given Each probability default categories carries ain distinct percentage of default probability. The 14-point riskThe rating scale provides for borrower able toassumption pay its obligation ininfull theprincipal borrower isThere past more thanassuming 90 categories days. default Thethat lossrange given default will is management’s of the anticipated loss on a due specific loan occurs granularity ofnot thebe probability of default, especially theor acceptable ratings. are nine acceptable from a borrower of default is management’s assumption of the anticipated principal on a specific loanbetween assuming the highest quality to a borrower of minimally acceptable quality. Theloss probability of default one default and nineoccurs is very narrow and would reflect almost no default to a minimal default percentage. The probability of default grows more rapidly as a loan moves from a “nine” to other Farm Credit East 2025 Annual Report

rating rating scale scale provides provides for for granularity granularity of of the the probability probability of of default, default, especially especially in in the the acceptable acceptable ratings. ratings. There There are are nine nine acceptable categories that range from a borrower of the highest quality to a borrower of minimally acceptable acceptable categories that range from a borrower of the highest quality to a borrower of minimally acceptable quality. quality. The The probability probability of of default default between between one one and and nine nine is is very very narrow narrow and and would would reflect reflect almost almost no no default default to to aa minimal default percentage. The probability of default grows more rapidly as a loan moves from a “nine” to minimal default percentage. The probability of default grows more rapidly as a loan moves from a “nine” to other other assets assets especially especially mentioned mentioned and and grows grows significantly significantly as as aa loan loan moves moves to to aa substandard substandard (viable) (viable) level. level. A A substandard substandard (non-viable) (non-viable) rating rating indicates indicates that that the the probability probability of of default default is is almost almost certain. certain. These These categories categories are are defined defined as as follows: follows:

assets especially mentioned and grows significantly as a loan moves to a substandard (viable) level. A substandard (non-viable) rating indicates • Acceptable assets expected to be collectible and the highest quality, Acceptableof––default assetsisare are expected be fully fully collectible and represent represent that•the probability almost certain.toThese categories are defined as follows: the highest quality,

••

Other Other assets assets especially especially mentioned mentioned (OAEM) (OAEM) –– assets assets are are currently currently collectible collectible but but exhibit exhibit some some potential potential weakness, Acceptable – assets are expected to be fully collectible and represent the highest quality, weakness, • Substandard –– assets exhibit serious weakness in capacity, equity and/or collateral pledged Substandard assets exhibit some some serious weakness in repayment repayment capacity, equity and/or collateral pledged •• Other assets especially mentioned (OAEM) – assets are currently collectible but exhibit some potential weakness, on the loan, on the loan, •• Substandard – assets exhibit some serious weakness insubstandard repayment capacity, equity, and/or collateral pledged on the loan, • Doubtful Doubtful – – assets assets exhibit exhibit similar similar weaknesses weaknesses to to substandard assets; assets; however, however, doubtful doubtful assets assets have have additional weaknesses in existing factors, conditions and values that make collection in full highly • Doubtful – assets exhibit similar weaknesses to substandard assets; however, doubtful assets have additional additional weaknesses in existing factors, conditions and values that make collection in full highlyweaknesses in existing questionable, and factors, conditions and values that make collection in full highly questionable, and questionable, and • Loss – assets are uncollectible. Loss – assets are considered considered uncollectible. •• Loss – assets are considered uncollectible. •

Thefollowing following tables show loans classified under the FCA Uniform Loan Classification System as a percentage of total loans by loan type as The tables show loans classified The following31, tables show loans classified under under the the FCA FCA Uniform Uniform Loan Loan Classification Classification System System as as aa percentage percentage of of of December 2025, 2024 and 2023. total total loans loans by by loan loan type type as as of of December December 31, 31, 2025, 2025, 2024 2024 and and 2023. 2023. December December 31, 31, 2025 2025

Acceptable Acceptable

OAEM OAEM

Substandard Substandard /Doubtful /Doubtful

Total Total

December December 31, 31, 2024 2024

Acceptable Acceptable

OAEM OAEM

Substandard Substandard /Doubtful /Doubtful

Total Total

December December 31, 31, 2023 2023

Acceptable Acceptable

OAEM OAEM

Substandard Substandard /Doubtful /Doubtful

Total Total

Real estate mortgage Real estate mortgage Production and intermediate term Production and intermediate term Agribusiness Agribusiness Rural infrastructure Rural infrastructure Rural residential real estate Rural residential real estate Other Other Total Total

34.1% 34.1% 31.2 31.2 21.7 21.7 5.2 5.2 0.8 0.8 0.3 0.3 93.3% 93.3%

0.8% 0.8% 1.3 1.3 1.4 1.4 0.3 0.3 3.8% 3.8%

34.4% 34.4% 29.6 29.6 22.5 22.5 5.7 5.7 0.8 0.8 0.3 0.3 93.3% 93.3%

1.1% 1.1% 1.0 1.0 0.7 0.7 0.1 0.1 2.9% 2.9%

1.6% 1.6% 1.7 1.7 1.1 1.1 0.2 0.2 4.6% 4.6%

35.9% 35.9% 30.8 30.8 21.3 21.3 5.2 5.2 0.7 0.7 0.4 0.4 94.3% 94.3%

36.0% 36.0% 33.5 33.5 23.8 23.8 5.6 5.6 0.8 0.8 0.3 0.3 100.0% 100.0%

1.0% 1.0% 0.5 0.5 0.6 0.6 2.1% 2.1%

1.9% 1.9% 0.9 0.9 0.5 0.5 0.3 0.3 3.6% 3.6%

37.0% 37.0% 31.8 31.8 24.2 24.2 5.9 5.9 0.8 0.8 0.3 0.3 100.0% 100.0%

0.9% 0.9% 0.7 0.7 0.5 0.5 2.1% 2.1%

38.7% 38.7% 32.4 32.4 22.3 22.3 5.5 5.5 0.7 0.7 0.4 0.4 100.0% 100.0%

Nonperforming Assets Nonperforming assets (which consists of nonaccrual loans, accruing loans 90 days or more past due and other Nonperforming Assets property owned)assets and related qualityofstatistics areloans, as follows. Nonperforming (which consists nonaccrual accruing loans 90 days or more past due and other property owned) and related quality statistics are as follows. December 31

Nonaccrual loans: Real estate mortgage Production and intermediate term Agribusiness Rural infrastructure Rural residential real estate Total nonaccrual loans Accruing loans 90 days or more past due: Real estate mortgage Production and intermediate term Total accruing loans 90 days or more past due Total nonperforming loans Other property owned (OPO) Total nonperforming assets

2025 $

2024

39,245 31,836 27,856 14,415 318 $ 113,670

$ $ $ $

126 126 113,796 94 113,890

$ $ $ $

2023

18,301 7,177 40,629 1,860 422 68,389

68,389 68,389

$ $ $ $

7,510 5,323 7,792 2,223 553 23,401 126 162 288 23,689 23,689

The following table reflects certain related credit quality statistics. 29

FOCUSED ON SUPPORTING YOUR VISION

December 31

Nonaccrual loans to total loans Nonperforming assets to total loans and OPO

2025

0.80% 0.80%

2024

0.53% 0.53%

2023

0.20% 0.21%

Production and intermediate term Total accruing loans 90 days or more past due Total nonperforming loans Other property owned (OPO) Total nonperforming assets

126 $ 126 $ 113,796 $ 94 $ 113,890

68,389 68,389

$ $ $ $

162 288 23,689 23,689

The tablereflects reflects certain related statistics. Thefollowing following table certain related creditcredit qualityquality statistics. December 31

2025

Nonaccrual loans to total loans Nonperforming assets to total loans and OPO Nonperforming assets to capital

0.80% 0.80% 4.33%

2024

0.53% 0.53% 2.87%

2023

0.20% 0.21% 1.09%

The following tables provide the amortized cost for nonaccrual loans with and without a related specific allowance for credit losses, as well as interest income recognized on nonaccrual loans during the period ended December 31, Thefollowing followingtables tables provide the cost forfor nonaccrual loansloans withwith and without a related specificspecific allowance for credit losses, The provide theamortized amortized cost nonaccrual and without a related allowance 2025, 2024 and 2023. Interest income is recognized, and payments are applied on nonaccrual loans as described in as well as interest income recognized on nonaccrual loans during the period ended December 31, 2025, 2024 and 2023. Interest income forNote credit 2. losses, as well as interest income recognized on nonaccrual loans during the period ended December 31, is recognized, payments areincome applied on nonaccrual loans as describedare in applied Note 2. on nonaccrual loans as described in 2025, 2024 andand 2023. Interest is recognized, and payments Note 2. For the the Twelve Twelve Months Months For Ended December December 31, 31, 2025 2025 Ended

December 31, 31, 2025 2025 December December 31, 2025

Nonaccrual Loans: Loans: Nonaccrual Nonaccrual Loans: Real estate estate mortgage Real mortgage Real estate mortgage Production and intermediate intermediate Production and Production and intermediate Agribusiness Agribusiness Agribusiness Rural infrastructure infrastructure Rural Rural infrastructure Rural residential real real estate estate Rural residential Rural Total residential real estate Total Total

Amortized Amortized Amortized Amortized Cost Cost Amortized Amortized Cost Cost with with without without Cost Cost with without Allowance Allowance Allowance Allowance Allowance Allowance 9,955 9,955 9,955 15,048 15,048 15,048 25,891 25,891 25,891 13,295 13,295 13,295 -64,189 $$ 64,189 $ 64,189

For the Twelve Months Ended December 31, 2025

Total Total Total

29,290 $$ 39,245 39,245 $$ 29,290 $ 29,290 16,788 $ 39,245 31,836 16,788 31,836 16,788 31,836 1,965 27,856 1,965 27,856 1,965 27,856 1,120 14,415 1,120 14,415 1,120 14,415 318 318 318 318 318 318 49,481 113,670 $$ 49,481 $$ 113,670 $ 49,481 $ 113,670

Nonaccrual Loans: Nonaccrual Loans: Nonaccrual Loans: Real estate mortgage Real estate mortgage Real estate mortgage Production and intermediate Production and intermediate Production and intermediate Agribusiness Agribusiness Agribusiness Rural infrastructure Rural infrastructure Rural infrastructure Rural residential real estate Rural residential real estate Rural residential real estate Total Total Total

$ $$ 6,578 6,578 6,578 6,037 6,037 6,037 20,353 20,353 20,353 441 441 441 - -$ $$ 33,409 33,409 33,409

Total Total Total

$ $$11,723 11,723 $ $$18,301 18,301 11,723 18,301 1,140 7,177 1,140 7,177 1,140 7,177 20,276 40,629 20,276 40,629 20,276 40,629 1,419 1,860 1,419 1,860 1,419 1,860 422 422 422 422 422 422 $ $$34,980 34,980 $ $$68,389 68,389 34,980 68,389

Nonaccrual Loans: Loans: Nonaccrual Real estate estate mortgage mortgage Real Production and and intermediate intermediate Production Agribusiness Agribusiness Rural infrastructure infrastructure Rural Rural residential residential real real estate estate Rural Total Total

Amortized Amortized Cost Cost without without Allowance Allowance

1,968 1,968 2,747 2,747 5,082 5,082 2,223 2,223 144 144 12,164 $$ 12,164

5,542 5,542 2,576 2,576 2,710 2,710 -409 409 11,237 $$ 11,237

Total Total $$

Interest Income Interest Income Interest Income Recognized Recognized Recognized $ $$ 1,136 1,136 1,136 1,057 1,057 1,057 (1,459) (1,459) (1,459) - -3939 39 $ $$ 773 773 773

For the the Twelve Twelve Months Months For Ended December December 31, 31, 2023 2023 Ended

December 31, 31, 2023 2023 December Amortized Amortized Cost with with Cost Allowance Allowance

1,843 1,843 1,843 (357) (357) (357) 780 780 780 (973) (973) (973)22 22 22 1,315 $$ 1,315 $ 1,315 $

For the the Twelve Twelve Months Months For Ended December December 31, 31, 2024 2024 Ended For the Twelve Months Ended December 31, 2024

December 31, 2024 December 31, 31, 2024 2024 December Amortized Amortized Amortized Amortized Cost Amortized Cost Cost Amortized Cost with Cost with without without without Cost with Allowance Allowance Allowance Allowance Allowance Allowance

Interest Income Income Interest Interest Income Recognized Recognized Recognized

7,510 7,510 5,323 5,323 7,792 7,792 2,223 2,223 553 553 23,401 $$ 23,401

Interest Income Income Interest Recognized Recognized $$

2,006 2,006 2,489 2,489 (72) (72) 65 65 22 4,490 4,490

Farm Credit East 2025 Annual Report

Rural residential real estate Total

144 12,164

409 $ 11,237

553 $ 23,401

2 4,490

Accrued interest receivable on loans of $69.8 million, $66.7 million and $65.0 million at December 31, 2025, 2024 and 2023, has been excluded from the amortized cost of loans and reported separately in the consolidated balance sheets. The Association wrote off accrued interest receivable of $4.8 million, $2.8 million and $0.5 million during Accrued interest receivable on loans of $69.8 million, $66.7 million and $65.0 million at December 31, 2025, 2024 and 2023, has been 2025, 2024 and 2023. excluded from the amortized cost of loans and reported separately in the consolidated balance sheets. The Association wrote off accrued interest receivable of $4.8 million, $2.8 million and $0.5 million during 2025, 2024 and 2023. Loan Delinquencies The following tables provide an aging analysis of past due loans at amortized cost by loan type as of December 31, Loan Delinquencies 2025, 2024 and 2023. The following tables provide an aging analysis of past due loans at amortized cost by loan type as of December 31, 2025, 2024 and 2023.

December 31, 2025 Real estate mortgage Production and intermediate term Agribusiness Rural infrastructure Rural residential real estate Other Total Loans

30-89 Days Past Due $ 12,135 11,473 2,605 4,373 204 $ 30,790

90 Days or More Past Due $ 17,461 18,869 5,757 4,478 $ 46,565

December 31, 2024 Real estate mortgage Production and intermediate term Agribusiness Rural infrastructure Rural residential real estate Other Total Loans

30-89 Days Past Due $ 9,376 10,126 4,292 337 $ 24,131

90 Days or More Past Due $ 14,615 5,905 7,268 130 $ 27,918

December 31, 2023 Real estate mortgage Production and intermediate term Agribusiness Rural infrastructure Rural residential real estate Other Total Loans

30-89 Days Past Due $ 21,004 12,315 8,919 $ 42,238

90 Days or More Past Due $ 3,345 4,379 1,559 143 $ 9,426

Total Past Due $ 29,596 30,342 8,362 8,851 204 $ 77,355

Total Past Due $ 23,991 16,031 11,560 467 $ 52,049

Total Past Due $ 24,349 16,694 10,478 143 $ 51,664

Current 5,097,418 4,754,066 3,373,715 788,277 116,872 48,524 $ 14,178,872

Current $ 4,751,941 4,096,693 3,110,326 766,220 97,517 43,119 $ 12,865,816

Current $ 4,429,110 3,712,120 2,552,701 636,870 79,901 41,237 $ 11,451,939

Total Loans $ 5,127,014 4,784,408 3,382,077 797,128 117,076 48,524 $ 14,256,227

Accruing Loans 90 days or More Past Due $ 126 $ 126

Total Loans $ 4,775,932 4,112,724 3,121,886 766,220 97,984 43,119 $ 12,917,865

Accruing Loans 90 days or More Past Due $ $ -

Total Loans $ 4,453,459 3,728,814 2,563,179 636,870 80,044 41,237 $ 11,503,603

Accruing Loans 90 days or More Past Due $ 126 162 $ 288

Loan Modifications to Borrowers Experiencing Financial Difficulties Upon adoption of ASU 2022-02, “Financial Instruments – Credit Losses, Troubled Debt Restructurings and Vintage Disclosure,” creditors are required to disclose specific modifications with borrowers who are experiencing financial difficulty. The loan modifications are handled on a caseby-case basis and are negotiated to achieve mutually agreeable terms that maximize loan collectability and meet the borrower’s financial needs. Modifications can be in the form of one or a combination of principal forgiveness, interest rate reduction, other than insignificant payment delay, or term extension. Covenant waivers and modifications of contingent acceleration clauses are not considered term extensions.

FOCUSED ON SUPPORTING YOUR VISION

agreeable terms that maximize loan collectability and meet the borrower’s financial needs. Modifications can be in the form of one or a combination of principal forgiveness, interest rate reduction, other than insignificant payment the form of one or a combination of principal forgiveness, interest rate reduction, other than insignificant payment delay, or term extension. Covenant waivers and modifications of contingent acceleration clauses are not considered delay, or term extension. Covenant waivers and modifications of contingent acceleration clauses are not considered term extensions. term extensions. The following tables show the amortized cost basis at the end of the reporting period for loan modifications granted The following tables show the amortized cost basis at the end of the reporting period for loan modifications granted to borrowers experiencing financial difficulty during 2025, 2024 and period 2023, disaggregated by loan typeto and type ofexperiencing The following tables show the financial amortized difficulty cost basis atduring the end2025, of the2024 reporting loan modifications granted borrowers to borrowers experiencing and 2023, for disaggregated by loan type and type of modification granted. financial difficulty during 2025, 2024 and 2023, disaggregated by loan type and type of modification granted. modification granted.

Year ended December 31, 2025 Year ended December 31, 2025 Real estate mortgage Real estate mortgage Production and intermediate Production and intermediate Agribusiness Agribusiness Rural residential real estate Rural residential real estate Total Total

Year ended December 31, 2024 Year ended December 31, 2024 Real estate mortgage Real estate mortgage Production and intermediate Production and intermediate Agribusiness Agribusiness Rural residential real estate Rural residential real estate Total Total

Year ended December 31, 2023 Year ended December 31, 2023 Real estate mortgage Real estate mortgage Production and intermediate Production and intermediate Agribusiness Agribusiness Rural residential real estate Rural residential real estate Total Total

Interest Interest Rate Rate Reduction Reduction $ $ 2,898 2,898 $ 2,898 $ 2,898

Interest Interest Rate Rate Reduction Reduction $ 300 $ 300 173 173 $ 473 $ 473

Interest Interest Rate Rate Reduction Reduction $ 6,223 $ 6,223 14,960 14,960 10,216 10,216 $ 31,399 $ 31,399

Term Term Extension Extension $ 1,059 $ 1,059 24,661 24,661 1,061 1,061 $ 26,781 $ 26,781

Term Term Extension Extension $ 3,177 $ 3,177 11,524 11,524 941 941 $ 15,642 $ 15,642

Term Term Extension Extension $ 5,465 $ 5,465 9,351 9,351 4,766 4,766 28 28 $ 19,610 $ 19,610

Payment Payment Extension Extension $ 709 $ 709 92 92 198 198 $ 999 $ 999

Combination Combination – Interest – Interest Rate Rate Reduction Reduction & Term & Term Extension Extension $ $ 15 15 $ 15 $ 15

Combination Combination – Interest – Interest Rate Rate Reduction Reduction & Payment & Payment Extension Extension $ 783 $ 783 $ 783 $ 783

Combination Combination – Term – Term Extension Extension & Payment &Extension Payment Extension $ 114 $ 114 767 767 219 219 $ 1,100 $ 1,100

Percent of Percent Total byof TotalType by Loan Loan Type 0.02% 0.02% 0.18% 0.18% 0.03% 0.03% 0.00% 0.00% 0.23% 0.23%

Payment Payment Extension Extension $ 705 $ 705 600 600 $ 1,305 $ 1,305

Combination Combination – Interest – Interest Rate Rate Reduction Reduction & Term & Term Extension Extension $ 4 $ 4 117 117 275 275 $ 396 $ 396

Combination Combination – Interest – Interest Rate Rate Reduction Reduction & Payment & Payment Extension Extension $ 868 $ 868 68 68 $ 936 $ 936

Combination Combination – Term – Term Extension Extension & Payment &Extension Payment Extension $ 15 $ 15 135 135 222 222 $ 372 $ 372

Percent of Percent Total byof TotalType by Loan Loan Type 0.04% 0.04% 0.10% 0.10% 0.01% 0.01% 0.00% 0.00% 0.15% 0.15%

Payment Payment Extension Extension $ 593 $ 593 751 751 $ 1,344 $ 1,344

Combination Combination – Interest – Interest Rate Rate Reduction Reduction & Term & Term Extension Extension $ $ 91 91 $ 91 $ 91

Combination Combination – Interest – Interest Rate Rate Reduction Reduction & Payment & Payment Extension Extension $ $ 190 190 $ 190 $ 190

Combination Combination – Term – Term Extension Extension & Payment &Extension Payment Extension $ 102 $ 102 325 325 135 135 $ 562 $ 562

Percent of Percent Total byof TotalType by Loan Loan Type 0.11% 0.11% 0.22% 0.22% 0.13% 0.13% 0.00% 0.00% 0.46% 0.46%

Accrued interest receivable related tomodifications loan modifications to borrowers experiencing financial difficulty Accrued interest receivable related to loan granted granted to borrowers experiencing financial difficulty was $0.1 million,was $0.1 million Accrued interest receivable related to loan modifications granted to borrowers experiencing financial difficulty was $0.1 million, $0.1 million and $0.3 million at2023, December 31, 2025, 2024 and 2023, respectively. and $0.3 million at December 31, 2025, 2024 and respectively. $0.1 million, $0.1 million and $0.3 million at December 31, 2025, 2024 and 2023, respectively. The following tables present the financial effect of the modifications made to borrowers experiencing financial The following tables present the financial effect of the modifications made to borrowers experiencing financial difficulty during 2025, 2024 and 2023. difficulty during 2025, 2024 and 2023.

Farm Credit East 2025 Annual Report

The following tables present the financial effect of the modifications made to borrowers experiencing financial difficulty during 2025, 2024 and 2023.

December 31, 2025 December 31, 2025 Real Estate Mortgage

Financial Effect of Modifications Granted Financial Effect of Modifications Granted

TermEstate Extension Real Mortgage Payment Extension Term Extension Interest Rate & Payment Extension Payment Extension Interest Rate & Payment Extension Term Extension & Payment Extension Production and&intermediate Term Extension Payment Extension Term Extension Production and intermediate Payment Extension Term Extension Interest Rate & Term Extension Payment Extension Term Extension & Payment Extension Interest Rate & Term Extension Agribusiness Term Extension & Payment Extension Interest Rate Reduction Agribusiness Term Extension Interest Rate Reduction Payment Extension Term Extension Term Extension & Payment Extension Payment Extension

Extended weighted average maturity by 431 days Extended weighted weighted average average maturity payment by terms 408 days Extended 431by days Reduced weighted average interest rate by 50 basis points (bps) and Extended weighted average payment terms by Extended weighted average payment terms by 408 days 365 days weighted average interest rate by 50 basis points (bps) and Extended weighted average payment terms by Reduced Extended 365 days weighted average maturity by 251 days and Extended weighted average payment terms by 251 days Extended weighted average maturity by 251 days and Extended weighted average payment terms by 251 days Extended weighted average maturity by 254 days Extended weighted weighted average average maturity payment by terms 536 days Extended 254by days Reduced weighted by 325 bps days and Extended weighted average maturity by 2,101 days Extended weighted average average interest paymentrate terms by 536 Extended weighted average maturity by 553 days and Extended weighted average payment terms by 553 days Reduced weighted average interest rate by 325 bps and Extended weighted average maturity by 2,101 days Extended weighted average maturity by 553 days and Extended weighted average payment terms by 553 days Reduced weighted average interest rate by 33 bps Extended weighted average maturity by 619 days Reduced weighted average interest rate by 33 bps Extended weighted weighted average average maturity payment by terms 424 days Extended 619by days Extended weighted weighted average average payment maturity terms by 441bydays Extended 424and daysExtended weighted average payment terms by 441 days

December 31, 2024 December 31, 2024 Real Estate Mortgage

Financial Effect of Modifications Granted Financial Effect of Modifications Granted

Term Extension & Payment Extension

Interest Rate Reduction Real Estate Mortgage Term Extension Interest Rate Reduction Payment Extension Term Extension Interest Rate & Term Extension Payment Extension Interest Rate Rate & & Term Payment Extension Interest Extension Term Extension & Payment Extension Interest Rate & Payment Extension Production and&intermediate Term Extension Payment Extension Interest Rate Reduction Production and intermediate Term Extension Interest Rate Reduction Payment Extension Term Extension Interest & Term Extension PaymentRate Extension Interest Rate & Term Payment Extension Interest Rate & Extension Term Extension & Payment Extension Interest Rate & Payment Extension Agribusiness Term Extension & Payment Extension Term Extension Agribusiness Interest Rate & Term Extension Term Extension Term Extension & Payment Extension Interest Rate & Term Extension Term Extension & Payment Extension

December 31, 2023 December 31, 2023 Real Estate Mortgage

Interest RateMortgage Reduction Real Estate Term Extension Interest Rate Reduction Payment Extension Term Extension Term Extension & Payment Extension Payment Extension Production and Term Extension &intermediate Payment Extension Interest Rate Reduction Production and intermediate Term Extension Interest Rate Reduction Payment Extension Term Extension Interest & Term Extension PaymentRate Extension Interest Rate & Term Payment Extension Interest Rate & Extension Term Extension & Payment Extension Interest Rate & Payment Extension Agribusiness Term Extension & Payment Extension Interest Rate Reduction Agribusiness Term Extension Interest Rate Reduction Term Extension & Payment Extension Term Extension RuralExtension Residential Real Estate Term & Payment Extension Term Extension Rural Residential Real Estate Term Extension

Extended weighted average maturity by 441 days and Extended weighted average payment terms by 441 days

Reduced weighted average interest rate by 75 bps Extendedweighted weightedaverage averageinterest maturity byby 3,320 days Reduced rate 75 bps Extended weighted average payment terms by 366 days Extended weighted average maturity by 3,320 days Reduced weighted by 75 Extended weighted average average interest paymentrate terms by bps 366and daysExtended weighted average maturity by 639 days Reduced weighted weighted average average interest interest rate rate by by 75 75 bps bps and and Extended Extended weighted weighted average average maturity payment by terms 125 days Reduced 639by days Extended weighted average maturity by 290 days and Extended weighted average payment terms by 290 days Reduced weighted average interest rate by 75 bps and Extended weighted average payment terms by 125 days Extended weighted average maturity by 290 days and Extended weighted average payment terms by 290 days Reduced weighted average interest rate by 75 bps Extendedweighted weightedaverage averageinterest maturity byby 380 Reduced rate 75days bps Extended weighted average payment terms by 359 days Extended weighted average maturity by 380 days Reduced weighted average interest rate by 75 Extended weighted average payment terms by bps 359and daysExtended weighted average maturity by 212 days Reduced weighted average interest rate by 75 bps and Extended weighted weighted average average maturity payment by terms 304 days Reduced weighted average interest rate by 75 bps and Extended 212by days Extended weighted average maturity by 714 days and Extended weighted average payment terms by 714 days Reduced weighted average interest rate by 75 bps and Extended weighted average payment terms by 304 days Extended weighted average maturity by 714 days and Extended weighted average payment terms by 714 days Extended weighted average maturity by 316 days Reduced weighted average interest rate by 325 bps and Extended weighted average maturity by 871 days Extended weighted average maturity by 316 days Extendedweighted weightedaverage averageinterest maturity byby 259 days bydays 259 days Reduced rate 325 bpsand andExtended Extendedweighted weightedaverage averagepayment maturityterms by 871 Extended weighted average maturity by 259 days and Extended weighted average payment terms by 259 days

Financial Effect of Modifications Granted Financial Effect of Modifications Granted

Reduced weighted average interest rate by 83 bps Extended weighted average maturity by 1,525 days Reduced weighted average interest rate by 83 bps Extended weighted weighted average average maturity payment by terms by days 385 days Extended 1,525 Extended weighted weighted average average payment maturity terms by 1,173 daysdays and Extended weighted average payment terms by 1,173 days Extended by 385 Extended weighted average maturity by 1,173 days and Extended weighted average payment terms by 1,173 days Reduced weighted average interest rate by 28 bps Extendedweighted weightedaverage averageinterest maturity byby 647 Reduced rate 28days bps Extended weighted average payment terms by 383 days Extended weighted average maturity by 647 days Reduced weighted average interest rate by 100 bps days and Extended weighted average maturity by 384 days Extended weighted average payment terms by 383 Reduced weighted average interest rate by 26 bps and bydays 217 days Reduced weighted average interest rate by 100 bps andExtended Extendedweighted weightedaverage averagepayment maturityterms by 384 Extended weighted average maturity by 172 days and Extended weighted average payment terms by 172 days Reduced weighted average interest rate by 26 bps and Extended weighted average payment terms by 217 days Extended weighted average maturity by 172 days and Extended weighted average payment terms by 172 days Reduced weighted average interest rate by 76 bps Extendedweighted weightedaverage averageinterest maturity byby 394 Reduced rate 76days bps Extended weighted average maturity by 579 days and Extended weighted average payment terms by 579 days Extended weighted average maturity by 394 days Extended weighted average maturity by 579 days and Extended weighted average payment terms by 579 days Extended weighted average maturity by 569 days Extended weighted average maturity by 569 days

The following table sets forth the amortized cost of loans to borrowers experiencing financial difficulty that received a modification during 2025 and defaulted in the period The following table sets forth thethat amortized cost of loans to presented: borrowers experiencing financial difficulty that received a modification during 2025 and that defaulted in the period presented:

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The following table sets forth the amortized cost of loans to borrowers experiencing financial difficulty that received a modification during Modified Loans that Subsequently Defaulted during the Twelve Months Ended December 31, 2025 2025 and that defaulted in the period presented: Modified Loans that Subsequently Defaulted during the Twelve Months Ended December 31, 2025

Real estate mortgage

Production and intermediate

Production intermediate Real estateand mortgage

Agribusiness Agribusiness

Production and intermediate Total Total Agribusiness

Modified Loans that Subsequently Defaulted during the Twelve Months Ended December 31, 2025 Combination Combination – Interest Combination Percent – Term Rate Combination – Interest Combination Percent RateReduction of Total Extension Combination – Interest – Term of Total by Loan &– Payment & Payment Interest Rate PaymentReduction Percent Term Rate Extension by Loan & Payment & Payment Interest Rate Payment Extension Total Extension Reduction Extension ofType Total Extension Reduction Type Extension Total Extension Reduction Extension by0.00% Loan & Payment Interest $Rate Payment $ 301 $ $& Payment $ 301 $ $ Extension 301 $ Extension $ $ 301 0.00% Type Extension Total Reduction 15,239 15,239 0.11% 15,239 0.11% $ $- 301 $- 15,239 $ $ 301 0.00% 2,898 46 2,944 0.02% 2,898 46 2,944 0.02% 15,239 15,239 0.11% $ 2,898 $ 301 $ 301 $ $ 15,285 0.13% $ 2,898 -$ $ - 15,285 $ 18,484 $ 18,484 0.13% 2,898 46 2,944 0.02%

Total

$ 2,898

301

15,285

$ 18,484

0.13%

The sets forth thethe amortized cost cost of loans to borrowers experiencing financialfinancial difficultydifficulty that received Thefollowing followingtable table sets forth amortized of loans to borrowers experiencing that received aa modification during 2024 and that defaulted in the period presented: The following table sets forth the amortized cost of loans to borrowers experiencing financial difficulty that received a modification during modification during 2024 and that defaulted in the period presented:

The and following tableinsets forth presented: the amortized cost of loans to borrowers experiencing financial difficulty that received 2024 that defaulted the period a modification during 2024 andLoans thatthat defaulted in the period presented: Modified Subsequently Defaulted during the Twelve Months Ended December 31, 2024

Modified Loans that Subsequently Defaulted during the Twelve Months Ended December 31, 2024

Real estate mortgage Production intermediate Real estateand mortgage Agribusiness Production and intermediate

Real estate mortgage Total Agribusiness Production and intermediate Total Agribusiness

Modified Loans that Subsequently Defaulted during the Twelve Months Ended December 31, 2024 Combination Combination Combination – Interest Combination Percent Rate– Interest – Term of Total Reduction Percent Rate Extension– Term Combination by Loan & Payment & Payment Interest Rate Payment of Total Extension Reduction Combination – Interest Type Extension Total Reduction by Loan & –Payment & Payment Interest Rate Extension PaymentExtension Percent Term Rate Extension Total Extension Reduction ofType Total Extension $ $ Extension 413 $ Reduction $ $ 413 0.00% by0.00% Loan & & Payment Interest Rate Payment 77 582 0.01% $$ 413 $$ Payment - 659 $ 413 Type Extension Total Extension Reduction Extension 899 0.01% 77 582 899 659 0.01% $ $ 413 $ $ $ 413 0.00% $ $ - 1,481 $ 1,971 0.02% - $ 490 - $ 899 899 0.01% 77 582 659 0.01% $ $ 490 $ $ 1,481 $ 1,971 0.02% 899 899 0.01%

There a1,481 modification on or after0.02% January Totalwere no loans to borrowers experiencing $ - financial $ 490difficulty$ that received $ $ 1,971

There werethrough no loansDecember to borrowers experiencing difficulty that received a modification on or after January 1, 2023, through 1, 2023, 31, 2023, andfinancial that subsequently defaulted. There were no loans to subsequently borrowers experiencing financial difficulty that received a modification on or after January December 31, 2023, and that defaulted.

1, 2023, through 31,aging 2023, and that subsequently defaulted. The following tableDecember sets forth an analysis of loans to borrowers experiencing financial difficulty that were

There were table no loans to borrowers experiencing financial difficultyfinancial that received modification after January The following setsJanuary forth an aging analysis of loans to borrowers difficultyathat were modifiedon onor or after modified on or after 1, 2025, through December 31, experiencing 2025: 1, 2023, through December 31, that subsequently defaulted.experiencing financial difficulty that were January 1, 2025, through December 31, 2025: The following table sets forth an2023, agingand analysis of loans to borrowers modified on or after January 1, 2025, through December 31, 2025: Payment Status1 of Modified in the Past 12 Months The following table sets forth an aging analysis ofLoans loans to borrowers experiencing financial difficulty that were modified on or after January 1, 2025, through December30-89 31, 2025: Days 90 Days or Real estate mortgage Production and intermediate Agribusiness Real estate mortgage Total

Payment in thePast PastDue 12 Months CurrentStatus1 of Loans Past Modified Due More $ 2,302 1 $ 30-89 363 Days $ 90 12 Days or Payment Status of Loans Modified in the Past Months 10,282 14 15,239 Current Past Due More Past Due 4,111 219 Days 30-89 9046Days or $ 2,302 $ 363 $ 15,285 $ $ 16,695 $ Past 596 Current Due More Past Due

15,239 $ Agribusiness 4,111 219 46Production and intermediate 10,282 14 15,239 Totalcommitments $ financial 16,695financial $ 596 $ 15,285 Additional commitments to lend to borrowers experiencing whosebeen loans have been modified Additional to lend to borrowers experiencing difficultydifficulty whose loans modified were 4,111 219haveend. 46 $11 thousand at 1 Agribusiness were $11 thousand at December 31, 2025. Excludes loans that were modified during the period, but were paid off or sold prior to period December 31, 2025. Total $ 16,695 $ 596 $ 15,285 1

Production andwere intermediate 10,282 14 Excludes loans that modified during the period, but were$paid off or sold prior to period Real estate mortgage 2,302 $ end. 363

Excludes loans table that were during period, of butloans were paid off or soldexperiencing prior to period financial end. The following setsmodified forth aging analysis to borrowers that been were modified Additional commitments toan lend tothe borrowers experiencing financial difficulty whosedifficulty loans have modified on or after January 1, 2024, through December 31, 2024: were $11 thousand at December 31, 2025. 1

Additional commitments to lend to borrowers experiencing financial difficulty whose loans have been modified were $11 thousand December 2025. The following tableatsets forth an 31, aging analysis of loans to borrowers experiencing financial difficulty that were modified on or after January 1, 2024, through December 31, 2024: The following table sets forth an aging analysis of loans to borrowers experiencing financial difficulty that were modified on or after January 1, 2024, through December 31, 2024: Farm Credit East 2025 Annual Report

Payment Status1 of Loans Modified in the Past 12 Months The following table sets forth an aging analysis of loans to borrowers experiencing financial difficulty that were 30-89 Days 90 Days or modified on or after January 1, 2024, through December 31, 2024: Current Past Due More Past Due 1 Payment Status of Loans Modified the Past 12 Months Real estate mortgage $ 1 3,458 $ in $ 1,028 Payment Status of Loans Modified in583 the Past 12 Months Production and intermediate 12,460 30-89 Days 80 90 Days or 77 30-89 90 Days Current 1,430 Past Days Due Past or Due Agribusiness 8 More Current Past Due More Past Due

Real estate mortgage $ $ 3,458 $ $ 583671 $ $1,028 Total 17,348 1,105 Real estate mortgage $ 3,458 $ 583 $ 1,028 77 Production and intermediate 12,460 80 77Agribusiness 1,430 8 Agribusiness 1,430 8 Total commitments to lend to borrowers $ experiencing 17,348 $ 671 $ 1,105 Additional financial difficulty whose loans have been modified Total $ 17,348 $ 671 $ 1,105 1 Excludes loans that were at modified during the were $156 thousand December 31,period, 2024.but were paid off or sold prior to period end. 1 1

Production Excludes loansand thatintermediate were modified during the period, but 12,460 were paid off or sold prior to80period end.

Excludes loans that were modified during the period, but were paid off or sold prior to period end.

Additional commitments to lend toaging borrowers experiencing difficulty loans havedifficulty been Additional commitments to lend toan borrowers experiencing financial difficulty whose loanswhose have been modified were modified $156that thousand The following table sets forth analysis of loans tofinancial borrowers experiencing financial were Additional commitments to lend to31, borrowers experiencing financial difficulty whose loans have been modified were $156 thousand at December 2024. at December 31, 2024. modified on or after January 1, 2023, through December 31, 2023: were $156 thousand at December 31, 2024. Thefollowing following table an aging analysis of borrowers experiencing financial difficulty thatonwere Payment Status ofto Loans Modified in thedifficulty Past 12 Months The table setssets forthforth an aging analysis of loans to loans borrowers experiencing financial that were modified or after The following table forth1,an2023, agingthrough analysisDecember of loans to modified on orthrough after sets January 31,borrowers 2023: experiencing financial difficulty that were January 1, 2023, December 31, 2023: 30-89 Days 90 Days or 1

modified on or after January 1, 2023, through December 31, 2023:

Past Due Past Due PaymentCurrent Status1 of Loans Modified in the PastMore 12 Months 1 Payment Status of Loans Modified in the Past 12 Months $ 10,398 $ 832 90 Days $ or1,153 30-89 Days - More 718 30-89 90 Days Current 24,950 Past Days Due Past or Due Current 14,973 Past Due 82 More Past Due 61

Real estate mortgage Production and intermediate Agribusiness Real estate mortgage $ 10,398 $ 832 $ 1,153 Real estate mortgage $ 24,950 10,398 $ 832- $ 1,153 Rural residential real estate Production and intermediate 718 29 Production 24,950 Total and intermediate $14,973 50,321 $ 82-914 $ 718 1,961 Agribusiness 61 1 Agribusiness 61 Excludes loans that were were paid end. Rural residential real modified estate during the period, but 14,973 - off or sold prior to82period 29 Rural residential real estate 29 Total $ 50,321$ 914$ 1,961 Total $ 50,321 $ 914 $ 1,961 1 Additional commitment to lend tothe borrowers experiencing financial difficulty Excludes loans that were modified during period, but were paid off or sold prior to period end. whose loans have been modified were 1 Excludes loans that were modified31, during the period, but were paid off or sold prior to period end. $19.3 million at December 2023. Additional lend to borrowers experiencing financial difficultydifficulty whose loans have been weremodified $19.3 million Additionalcommitments commitmenttoto lend to borrowers experiencing financial whose loansmodified have been wereat Additional lend to borrowers experiencing financial difficulty whose loans have been modified were December 31,commitment 2023. Allowance for CredittoLosses $19.3 million at December 31, 2023. $19.3credit million December 31, 2023. is a key component of the Association’s allowance for credit losses evaluation The riskatrating methodology Allowance for Credit Losses Allowance for Credit Losses and is generally incorporated into the Association’s loan underwriting guidelines and internal lending limits. In Allowance for Credit Losses The rating methodology is a key of the Association’s allowance for credit losses and is generally incorporated Thecredit creditrisk risk rating methodology isconcentration acomponent key component of thelimits Association’s allowance forevaluation credit evaluation addition, customer and commodity lending have been established by thelosses Association to manage The credit risk rating methodology isguidelines aAssociation’s key component oflending the Association’s allowance forand credit losseslimits. evaluation into the Association’s loan underwriting and internal limits. In addition, customer commodity concentration lending and is generally incorporated into the loan underwriting guidelines and internal lending In credit exposure. and ishave generally incorporated the Association’s loanexposure. underwriting guidelines and internal lending limits. In limits been established by theinto Association to managelending credit addition, customer and commodity concentration limits have been established by the Association to manage addition, customer and commodity concentration lending limits have been established by the Association to manage credit exposure. A summary of changes in the allowance for credit losses by loan type follows. credit exposure. A summary of changes in the allowance for credit losses by loan type follows.

A summary of changes in the allowance for credit losses by loan type follows. A summary of changes in the allowance forEstate creditProduction losses by and loan type follows. Rural Real

Rural Residential Mortgage Intermediate Agribusiness infrastructureRural Real Estate Other Rural Residential Real Estate Production and Rural Residential Real Estate Production and Agribusiness infrastructure Rural Mortgage Intermediate Real Estate Other Mortgage Intermediate Agribusiness infrastructure Real Estate Other

December 31, 2025 Allowance for Credit Losses on December 31, 2025 Loans December 31, Allowancebalance for 2025 Credit Losses on Beginning $ 20,981 $ 25,633 Allowance Loans Charge-offs for Credit Losses on (487) (8,542) Loans Beginning balance $ 20,981 2 $ 25,633539 Recoveries Beginning balance $ 20,981 25,633 Charge-offs (487) Provision for credit losses 2,919 $ (8,542) 19,745 Charge-offs (487) (8,542) Recoveries 2 539 Ending balance $ 23,415 $ 37,375 Recoveries 2 539 Provision for credit losses 2,919 19,745 Reserve forcredit Unfunded Provision for losses Commitments $ 23,415 2,919 $ 37,375 19,745 Ending balance Beginning balance $ 771 $ 4,772 Ending balance Reserve for Unfunded Commitments $ 23,415 $ 37,375 Provision for credit losses 119 (1,258) Reserve for Unfunded Commitments $ Beginning balance 771 $ 4,772 Ending balance 890 $ $ (1,258) 3,514 Beginning balance $$ 771 4,772 Provision for credit losses 119 Total Allowance for Credit Losses $ 24,305 $ 40,889 Provision for credit losses 119 (1,258) Ending balance $ 890 $ 3,514 EndingAllowance balance $$ 24,305 890 $ $ 40,889 3,514 Total for Credit Losses Total Allowance for Credit Losses $ 24,305 $ 40,889

FOCUSED ON SUPPORTING YOUR VISION

$ $ $ $ $ $ $ $ $ $

$ 27,945 (1,251) 27,945192 $ 27,945 (1,251) 458 $ (1,251) $ 192 27,344 192 458 458 27,344 $27,344 8,407 $$ (2,603) 8,407 $ $(2,603) 5,804 $ 8,407 $(2,603) 33,148 $ 5,804 5,804 $ 33,148 $ 33,148 $

Total Total

$ 2,898 $ 775 $ 40 Total $ 78,272 (10,280) 2,898 - $ 775 1$ 40 -$ 78,272 734 2,8987754078,272 4,306 $ 195$ (30)$ (10,280) 27,593 (10,280) -1- 971 $ - 10 $ 7,204 $ $734 96,319 1 734 4,306 195 (30) 27,593 4,306 195 27,593 $ (30) 10 7,204 $10 216$$ 96,319 $ 494 $$ $971 $ 14,699 7,204 971 39$ 96,319 (181) 331 23 (3,569) $ 216 494 $ 39 $ 14,699 $ 35$ 14,699 $331 $ 11,130 216 494 825 $ $ 23 39 62$ (181) (3,569) $35 45$ (3,569) $331 8,029 $ $ 23 1,033$ (181) $ 107,449 825 62 11,130 $ 35 825 $ 1,033 62 $ 107,449 11,130 $ 45 8,029 $ $ $ 45 8,029 $ 1,033 $ 107,449

December 31, 2024 Allowance for Credit Losses on Loans Beginning balance Charge-offs Recoveries Provision for credit losses Ending balance Reserve for Unfunded Commitments Beginning balance Provision for credit losses Ending balance Total Allowance for Credit Losses

December 31, 2023 Allowance for Credit Losses on Loans Beginning balance Adjustment due to change in accounting Charge-offs Recoveries Provision for credit losses Ending balance Reserve for Unfunded Commitments Beginning balance Adjustment due to change in accounting Provision for credit losses Ending balance Total Allowance for Credit Losses

Rural Residential Real Estate Production and Rural Mortgage Intermediate Agribusiness infrastructure Real Estate

Other

673 2 100 775

49 (10) 39 814

$ $ $ $

20,396 11 574 20,981

1,375 (604) 771 21,752

$ $

18,292 (2,073) 1,078 8,336 25,633

$ 23,190 (3,559) 31 8,283 $ 27,945

$ 3,692 (794) $ 2,898

6,342 (1,570) 4,772 30,405

$ 11,266 (2,859) $ 8,407 $ 36,352

433 61 $ 494 $ 3,392

$ $

Total

10 30 40

$ 66,253 (5,632) 1,122 16,529 $ 78,272

302 (86) 216 256

$ 19,767 (5,068) $ 14,699 $ 92,971

Rural Residential Real Estate Production and Rural Mortgage Intermediate Agribusiness infrastructure Real Estate

Other

181 312 (7) 99 88 673

66 (53) (3) $ 10

$ 51,465 8,891 (3,660) 1,073 8,484 $ 66,253

45 4 49 722

$ 10,751 5,753 3,263 $ 19,767 $ 86,020

9,728 10,190 (78) 67 489 $ 20,396

2,284 (1,413) 504 $ 1,375 $ 21,771

$ $

25,326 (4,583) (855) 232 (1,828) 18,292

$ 14,160 2,416 (2,010) 674 7,950 $ 23,190

$ 2,004 609 (710) 1 1,788 $ 3,692

4,346 844 1,152 6,342 24,634

3,555 5,866 1,845 $ 11,266 $ 34,456

504 167 (238) $ 433 $ 4,125

$ $

17 285 $ 302 $ 312

Total

Discussion of Changes in Allowance for Credit Losses TheACL ACLincreased increased $14.4 million to $107.4 million at December 2025, as compared to $93.0 million 31, at 2024. The The $14.4 million to $107.4 million at December 31, 2025,31, as compared to $93.0 million at December December 31, 2024. The increase in allowance primarily relates to portfolio loan growth and credit quality increase in allowance primarily relates to portfolio loan growth and credit quality deterioration within certain sectors of the portfolio deterioration within certain sectors of the portfolio which were by model updates specific which were partially offset by model assumption updates specific to the partially large loanoffset component of theassumption model resulting in lower modeled to the large loan component of the model resulting in lower modeled loan losses. loan losses. Discussion of Changes in Allowance for Credit Losses

NOTE4 4– – InvestmentINinCOBANK, CoBank,ACB ACB NOTE INVESTMENT AtDecember December 2025, the Association’s investment in isCoBank is inofthe form of Class stock a par of At 31,31, 2025, the Association’s investment in CoBank in the form Class A stock with aApar valuewith of $100 pervalue share. The $100 per share. The to Association required to own stock in CoBank to capitalize its direct andThe current Association is required own stock inisCoBank to capitalize its direct loan balance and participation loansloan soldbalance to CoBank. participation sold to capitalizing direct loan from CoBank is 3.0% requirement forloans capitalizing itsCoBank. direct loanThe fromcurrent CoBankrequirement is 3.0% of thefor Association’s prioritsone-year average direct loan balance. Theof current the Association’s prior one-year average direct loanloans balance. current requirement for capitalizing patronagerequirement for capitalizing patronage-based participation sold toThe CoBank is 7.0% of the Association’s prior ten-year average balance of based participation sold toUnder CoBank is 7.0% of the capital Association’s prior to ten-year average balance of suchfrom CoBank such participations soldloans to CoBank. the current CoBank plan applicable such participations sold, patronage participations sold to CoBank. thecash current CoBank plancapital applicable to such participations sold, board and related to these participations sold isUnder paid 75% and 25% Class Acapital stock. The plan is evaluated annually by CoBank’s patronage from management and isCoBank subject torelated change.to these participations sold is paid 75% cash and 25% Class A stock. The capital plan is evaluated annually by CoBank’s board and management and is subject to change.

CoBank may require the holders of its equities to subscribe for such additional capital as may be needed to meet its capital requirements or its CoBank may require the holders itsregulations. equities to subscribe for such additional capital as may be needed to meet its joint and several liability under the Actof and

capital requirements or its joint and several liability under the Act and regulations.

The Association owns 8.06% of the issued stock of the ACB as of December 31, 2025. As of that date, the ACB’s assets totaled $223.5 billion, Themembers’ Association 8.06% the issued stock of the December 31, 2025. and equityowns totaled $14.0of billion. The ACB earned net ACB incomeasofof$1.7 billion during 2025. As of that date, the ACB’s

assets totaled $223.5 billion, and members’ equity totaled $14.0 billion. The ACB earned net income of $1.7 billion during 2025.

Farm Credit East 2025 Annual Report

NOTE 5 – PREMISES AND EQUIPMENT NOTE 5 – Premises and Equipment

NOTE 5 and – Premises Equipment Premises equipment and consists of the following: Premises and equipment consist of the following: December 31 2025 Premises and equipment consist of the following: Land December 31 Buildings and improvements Land Furniture and equipment Buildings and improvements Autos Furniture andinequipment Construction progress Autos Premises and equipment at cost Construction in progress Less: accumulated depreciation Premises and at costnet Total premisesequipment and equipment, Less: accumulated depreciation Total premises and equipment, net

2,114 2025 40,611 $ 6,042 2,114 40,611 6,918 6,0426,918 $ 55,685 29,19055,685 $$ 26,495 29,190 $ 26,495

$ $ $ $$ $

NOTE 6 – Other Assets and Other Liabilities

2024

2,127 2024 40,480 2,127 6,404 40,480 6,777 6,404 489 6,777 56,277 489 29,319 56,277 26,958 29,319 26,958

$ $ $ $$ $

2023

2,127 39,946 2,127 6,157 39,946 7,109 6,157 603 7,109 55,942 603 28,002 55,942 27,940 28,002 27,940

2023

NOTE 6 – OTHER ASSETS AND OTHER LIABILITIES

NOTE 6 – Other Assets and Other Liabilities AAsummary of other assets and other liabilities follows. summary of other assets and other liabilities follows.

December 2025 A summary of31 other assets and other liabilities follows. Other Assets: December 31 Patronage receivable from CoBank Other Assets: Investments Patronagereceivable receivable from CoBank Accounts Investmentsassets Derivative Accounts receivable Linked deposit program, net Derivative assets Other Linked deposit program, net Total Other Total

December 31

Other Liabilities: December 31 Pension and other postretirement liabilities Other Liabilities: Accrued salaries and employee benefits Pension and other postretirement liabilities Accounts payable Accrued salaries and employee benefits Derivative liabilities Accounts payable Other Derivative liabilities Total Other Total

2025

65,731 41,509 $ 65,731 4,092 41,509 10,677 4,092 18,057 10,677 12,681 18,057 $ 152,747 12,681 $ 152,747

2025

5,430 21,647 $ 19,069 5,430 21,647 931 19,069 13,304 931 $ 60,381 13,304 $ 60,381

2024 2024

$ 62,744 34,941 $ 62,744 3,519 34,941 2,888 3,519 9,535 2,888 11,340 9,535 $ 124,967 11,340 $ 124,967

2024

$ 15,451 20,955 $ 15,613 15,451 20,955 7,189 15,613 14,358 7,189 $ 73,566 14,358 $ 73,566

2023 2023

$ 56,359 25,673 $ 56,359 3,623 25,673 5,712 3,623 2,035 5,712 10,093 2,035 $ 103,495 10,093 $ 103,495

2023

$ 26,031 17,686 $ 22,233 26,031 17,686 20,055 22,233 12,986 20,055 $ 98,991 12,986 $ 98,991

Linked Deposit Program Farm Credit EastProgram participates Linked Deposit Linked Deposit Program in state-sponsored Linked Deposit Programs (LDPs) administered by the State of New York and the State of Maine. Under these programs, the Deposit Association purchases U.S.administered Treasury securities andand Farm Credit East participates in state-sponsored LinkedLinked Deposit Programs (LDPs) administered by the State of State Farm Credit East participates in state-sponsored Programs (LDPs) byNew the York State of the New simultaneously enters into master repurchase agreements (MRAs) with the respective state agencies. The MRAs of Maine. Under these programs, the Association purchases U.S. Treasury securities and simultaneously enters into master repurchase York and the State of Maine. Under these programs, the Association purchases U.S. Treasury securities and require the Association to the agencies. securities atMRAs stated dates. the In accordance ASC agencies. 860, Transfers and dates. agreements (MRAs) with therepurchase respective state The require Association towith repurchase the securities stated simultaneously enters into master repurchase agreements (MRAs) with the respective state TheatMRAs Servicing, these arrangements are accounted for as secured borrowings, and the associated securities continue to be In accordance with ASC 860, Transfers and Servicing, these arrangements are accounted for as secured borrowings, and the associated require the Association to repurchase the securities at stated dates. In accordance with ASC 860, Transfers and securities continue to be reported as assets of the Association. The contractual maturity date of the MRAs vary by transaction and reported as assets of the Association. The contractual maturity date of the MRAs vary by transaction and does not Servicing, these arrangements are accounted for as secured borrowings, and the associated securities continue to bedoes not exceed a 4-year term. exceed a 4-year term. reported as assets of the Association. The contractual maturity date of the MRAs vary by transaction and does not

exceed a 4-year term. December 31, gross amount of U.S. Treasury securities pledged under the LDP AtAtDecember 31,2025, 2025,thethe gross amount of U.S. Treasury securities pledged underwas theapproximately LDP was $254.2 million, and the related gross repurchase obligations totaled approximately $212.6 million. The carrying value of the U.S. Treasury securities approximates approximately $254.2 million, and the related gross repurchase obligations totaled approximately At December 31, 2025, the gross amount of U.S. Treasury securities pledged under the LDP was $212.6 fair valueThe as ofcarrying December 31, 2025. The U.S.Treasury Treasury securities areapproximates classified withinfair level 1 as their fair value is readily million. value of the U.S. securities value as of December 31, approximately $254.2 million, and the related gross repurchase obligations totaled approximately $212.6observable in the marketplace. Because the MRAs enforceable of1setoff, and fair the Association has theobservable intent to either 2025. The U.S. Treasury securities area legally classified withinright level as their readily million. The carrying value of provide the U.S. Treasury securities approximates fairvalue valueisas of December 31, in settle the related amounts on a net basis or to the settleMRAs them simultaneously, the related assets and liabilities are presented on a net basis within Other Assets in the the marketplace. Because provide a legally enforceable right of setoff, and the Association 2025. The U.S. Treasury securities are classified within level 1 as their fair value is readily observablehas in Consolidated Statements ofthe Condition in accordance with ASC 210-20, Balance Sheetsimultaneously, — Offsetting. the intent to either settle related amounts on a net basis or to settle them the related the marketplace. Because the MRAs provide a legally enforceable right of setoff, and the Association has assets andto liabilities are presented a net basis Other Assets the Consolidated Statements of the intent either settle the relatedonamounts on awithin net basis or to settleinthem simultaneously, the related The securities pledged under the ASC program consistBalance solely of U.S. Treasury securities that fully collateralize the repurchase obligations. The Condition in accordance with 210-20, Sheet — Offsetting. assets and liabilities are presented on a net basis within Other Assets in the Consolidated Statements of MRAs include close-out netting provisions under which all transactions with each counterparty are treated as a single arrangement in the

Condition in accordance with ASC 210-20, Balance Sheet — Offsetting. event of default,pledged thereby allowing theprogram Association to settle the amounts on a netsecurities basis. No collateral received from counterparties. The securities under the consist solely of U.S. due Treasury that fullyis collateralize After giving effect to the master netting arrangements, the Association’s exposure is limited to the net amount recorded on the Consolidated the obligations. The include close-out netting provisions under which all transactions Therepurchase securities pledged under theMRAs program consist solely of U.S. Treasury securities that fully collateralize Statements of Condition. with each counterparty are treated as a single in the provisions event of default, the the repurchase obligations. The MRAs includearrangement close-out netting under thereby which allallowing transactions Association to settle the amounts due on a net basis. No collateral is received from counterparties. After with each counterparty are treated as a single arrangement in the event of default, thereby allowing the giving effecttotosettle the master nettingdue arrangements, the No Association’s limited to the net amount Association the amounts on a net basis. collateral isexposure receivedisfrom counterparties. After recorded on the Consolidated Statements of Condition. giving effect to the master netting arrangements, the Association’s exposure is limited to the net amount

onSUPPORTING the Consolidated 37 recorded FOCUSED ON YOUR VISIONStatements of Condition.

The following table provides a summary of the linked deposit program offsetting as of December 31, 2025, 2024 and 2023. The following table provides a summary of the linked deposit program offsetting as of December 31, 2025, 2024 and 2023. December 31

Linked Deposit Program: Gross collateral Gross repurchase agreements Amount subject to netting Less: discount Linked deposit program, net

2025

2024

2023

$ 254,246 (212,598) 41,648 (23,591) $ 18,057

$ 215,058 (179,835) 35,223 (25,688) $ 9,535

$ 64,851 (54,588) 10,263 (8,228) $ 2,035

NOTE 7 – Notes Payable to CoBank, ACB NOTE 7 – NOTES PAYABLE TO COBANK, ACB

The Association’s indebtedness to CoBank represents borrowings by the Association to fund its loan portfolio. This The Association’s indebtedness to represents borrowings to fund its loan portfolio. This indebtedness is indebtedness is collateralized byCoBank a pledge of substantially allbyofthe theAssociation Association’s assets and is governed by a collateralized by a pledge of substantially all of the Association’s assets and is governed by a General Financing Agreement (GFA). The General Financing Agreement (GFA). The GFA and promissory note are subject to periodic renewals in the normal GFA and promissory noteThe are subject to periodic in the normal course of business. GFA matures on May course of business. GFA matures onrenewals May 31, 2026. Management expectsThe renewal of the GFA at 31, that2026. time.Management The expects renewal of the GFA at that time. The Association was in compliance with the terms and conditions of the GFA as of December Association was in compliance with the terms and conditions of the GFA as of December 31, 2025. Substantially all 31, 2025. Substantially all borrower loans are match-funded with CoBank. Payments and disbursements are made on the note payable to borrower loans are match-funded with CoBank. Payments and disbursements are made on the note payable to CoBank on the same basis the Association collects payments from and disburses on borrower loans. The interest rate may periodically be CoBank on the same basis the Association collects payments from and disburses on borrower loans. The interest rate adjusted by CoBank based on the terms and conditions of the borrowing. The weighted average interest rate was 4.12% for the 12 months may periodically be adjusted by CoBank based on the terms and conditions of the borrowing. The weighted average ended December 31, 2025. The weighted average interest rate was 4.58% for the year ended December 31, 2024, and 4.26% for the year interest rate was 4.12% for the 12 months ended December 31, 2025. The weighted average interest rate was 4.58% ended December 31, 2023. for the year ended December 31, 2024, and 4.26% for the year ended December 31, 2023. CoBank, consistent with FCA regulations, has established limitations on the Association’s ability to borrow funds based on specified

CoBank, consistent with FCA regulations, has established limitations on the Association’s ability to borrow funds factors or formulas relating primarily to credit quality and financial condition. At December 31, 2025, the Association’s notes payable based on specified factors or formulas relating primarily to credit quality and financial condition. At December 31, are within the specified limitations. 2025, the Association’s notes payable are within the specified limitations. NOTE 8 – MEMBERS’ EQUITY

NOTE 8 – Members’ Equity A description of the Association’s capitalization requirements, protection mechanisms, regulatory capitalization requirements and

Arestrictions, description ofequities the Association’s capitalization protection mechanisms, regulatorycapitalization capitalization and are provided below. Members’requirements, equity is described and governed by the Association’s policies. Farm requirements and restrictions, and equities are provided below. Members’ equity is described and governed by theCopies of Credit East’s capitalization policies are specified in the bylaws and in the Capitalization Plan approved by the board of directors. Association’s capitalization policies. Farm East’stocapitalization the Association’s bylaws and Capitalization PlanCredit are available members at anypolicies time. are specified in the bylaws and in the Capitalization Plan approved by the board of directors. Copies of the Association’s bylaws and Capitalization Plan are available members at any Certificates time. Capital Stocktoand Participation In accordance with the Farm Credit Act and the Association’s capitalization bylaws and Capitalization Plan, each Association borrower, as a

Capital and participation certificates conditionstock of borrowing, is required at the time the loan is made to invest in Class B Stock for agricultural loans or Class B Participation Certificates Inforaccordance with Farm Credit Act andAssociation the Association’s capitalization bylaws Capitalization Plan, each country home and the farm-related business loans. bylaws require that borrowers acquireand capital stock or participation certificates, as a condition of borrowing, the lesser ofof $1,000 or 2% of the amount ofatthethe loan, andthe notloan more is than 10% to of the amount of the B loan. Association borrower,atasleast a condition borrowing, is required time made invest in Class Stock for agricultural loans or Class B Participation Certificates for country home and farm-related business loans. Pursuant to the Association Capitalization Plan, the Association board has determined that Class B stock and Class B participation Association bylaws require that borrowers acquire capital stock or participation certificates, as a condition of certificates shall be issued as follows: borrowing, at least the lesser of $1,000 or 2% of the amount of the loan, and not more than 10% of the amount of the loan. For all loans (except where indicated below) Class B stock and Class B participation certificates shall be issued equal to one thousand dollars per customer as a condition of borrowing from this Association. For purposes of borrower stock, a customer is defined as the primary borrower on a Pursuant to the Association Capitalization Plan, the Association board has determined that Class B stock and Class loan. The intent of this policy is for each primary customer to have one thousand dollars of stock, regardless of the number of loans or balance on Bthose participation certificates shall be issued as follows: loans to that customer. Stock shall be purchased at the beginning of a customer’s relationship and will not be retired until all loans to that customer are paid in full and there are no funds available for advances.

For all loans (except where indicated below) Class B stock and Class B participation certificates shall be issued equal to onetothousand dollars per customer as a condition of borrowing from this Association. For purposes of Exceptions this policy are: borrower stock, defined the primary a loan. Thecustomers intent ofwith this less policy forthousand each primary • At the timeaofcustomer the Farm is Credit East as mergers (in 2010,borrower 2014 andon 2022), certain thanisone dollars of customer towere have“grandfathered” one thousand at dollars of stock, the numbercustomer of loans stock or balance those loans to that stock the stock level at regardless conversion. of Grandfathered will be on frozen at converted levels until customer. Stock beatpurchased the beginning of a customer’s anddollars will not be time retired alladvance or all loans areshall repaid, which timeatthe stock will be retired, or increasedrelationship to one thousand at the of auntil future loans to thataction customer are paid in full and there are no funds available for advances. credit Certain small borrowers (customers with total commitment less than ten thousand dollars initially) will be issued at 10% of the initial commitment, consistent with bylaw limitations

•

Exceptions to this policy are:

•

At the time of the Farm Credit East mergers (in 2010, 2014 and 2022), certain customers with less than one thousand dollars of stock were “grandfathered” at the stock level at conversion. Grandfathered customer Farm Credit East 2025 Annual Report

•

Certain interests in loans sold to other financial institutions

•

Loans to be sold into the secondary market

The borrower acquires ownership of the capital stock or participation certificates at the time the loan is made, but usually does not make a cash investment. The aggregate par value is added to the principal amount of the related loan obligation. The Association retains a first lien on the stock or participation certificates owned by borrowers. Retirement of such equities will generally be at the lower of par or book value, certificates are retired at the discretion of the Association’s board of directors after considering the capitalization and repayment of a loan does not automatically result in retirement of the corresponding stock or participation certificates. All stock and plan, as well as regulatory and other requirements. participation certificates are retired at the discretion of the Association’s board of directors after considering the capitalization plan, as well as regulatory and other requirements. Regulatory capitalization requirements and restrictions Regulatory Capitalization Requirements and Restrictions The following sets forth the regulatory capital ratio requirements and ratios at December 31. The following sets forth the regulatory capital ratio requirements and ratios at December 31.

Ratio

2 3 4

Denominator

Ratios as of 2025

Ratios as of 2024

Ratios as of 2023

Minimum with Buffer

Minimum Requirement

Common Equity Tier 1 (CET1) Capital

Unallocated retained earnings (URE), and common cooperative equities (qualifying capital stock and allocated equity)1

Risk-weighted Assets

15.49%

15.82%

16.42%

Tier 1 Capital

CET1 Capital, and noncumulative perpetual preferred stock

Risk-weighted assets

15.49%

15.82%

16.42%

8.5%

6.0%

Total Capital

Tier 1 Capital, allowance for loan losses2, other common cooperative equities3, and term preferred stock and subordinated debt4

Risk-weighted assets

16.19%

16.51%

17.08%

10.5%

8.0%

Tier 1 Leverage

Tier 1 Capital

Total assets

16.92%

17.25%

18.00%

5.0%

4.0%

Unallocated Retained Earnings and URE Equivalents (UREE) Leverage

URE and UREE Equivalents

Total assets

16.78%

17.10%

17.83%

1.5%

Risk-weighted assets

15.20%

15.50%

16.10%

7.0%

Permanent Capital

Primary Components of Numerator

Retained earnings, common stock, non-cumulative perpetual preferred stock, and subordinated debt, subject to certain limits Equities outstanding 7 or more years Capped at 1.25% of risk-adjusted assets Outstanding 5 or more years, but less than 7 years Outstanding 5 or more years

7.0%

4.5%

thecapital capital ratios fall below therequirements, total requirements, buffercapital amounts, capital (equity distributions (equity IfIfthe ratios fall below the total includingincluding the bufferthe amounts, distributions redemptions, dividends and redemptions, dividends and patronage) and discretionary executive bonuses restricted patronage) and discretionary senior executive bonuses are restrictedsenior or prohibited without priorare FCA approval.or prohibited without prior FCA approval. An FCA regulation empowers it to direct a transfer of funds or equities by one or more System institutions to another System institution under An FCAcircumstances. regulation empowers it to direct transfer funds or equities by oneand or more System institutions specified The Association has notabeen calledofupon to initiate any transfers is not aware of any proposedto action under this another System institution under specified circumstances. The Association has not been called upon to initiate regulation. any transfers and is not aware of any proposed action under this regulation. Description of Equities Description ofowners equities Each owner or joint of Class B stock are entitled to a single vote, while Class B participation certificates provide no voting rights to their owners. Each owner or not joint of to Class B stock entitled to a single vote, while Class B participation certificates Voting stock may beowners transferred another personare unless such person is eligible to hold voting stock. At December 31, 2025, the Association had provide no voting rights to their owners. stock not be to of another unless such person is 3,612,854 shares of Class B stock outstanding at aVoting par value of $5may per share andtransferred 365,740 shares Class Bperson participation certificates outstanding at a par eligible hold voting stock.ofAt December 31, 2025, the or Association had is3,612,854 Class risks B stock value of $5toper share. Ownership stock, participation certificates allocated surplus sometimesshares subject of to certain that could result in a partial or complete loss. These risksvalue include levels ofand loan365,740 losses experienced the Association, losses resulting from outstanding contractual and obligations, outstanding at a par of excessive $5 per share shares ofbyClass B participation certificates atstatutory a impairment of ACB stock owned by the Association, resulting from adverse judicial decisionssurplus or other is losses that may arise in thetocourse of par value of $5 per share. Ownership of stock,losses participation certificates or allocated sometimes subject business. In thethat eventcould of suchresult impairment, borrowers would remain forrisks the full amountexcessive of their loans. certain risks in a partial or complete loss.liable These include levels of loan losses experienced by the Association, losses resulting from contractual and statutory obligations, impairment of ACB stock owned by the Association, losses resulting from adverse judicial decisions or other losses that may arise in the course of business. In the event of such impairment, borrowers would remain liable for the full amount of their FOCUSED loans. ON SUPPORTING YOUR VISION Any losses which result in impairment of capital stock and participation certificates would be allocated to such

stock owned by the Association, losses resulting from adverse judicial decisions or other losses that may arise in the course of business. In the event of such impairment, borrowers would remain liable for the full amount of their loans. Any losses which result in impairment of capital stock and participation certificates would be allocated to such purchased capital oninaimpairment pro rata basis impairing B stock and participation certificates. In the case ofon liquidation Any losses which result of capital stock andClass participation certificates would be allocated to such purchased capital a pro rata basis or dissolution of the Association, capital stock, participation certificates and allocated surplus would be utilized as or dissolution of the Association, capital stock, participation certificates and allocated surplus would be utilized as or dissolution of the Association, capital stock, participation certificates and allocated surplus would be utilized impairing Class B stock and participation certificates. In the case of liquidation or dissolution of the Association, capital stock, participationascertificates necessary to satisfy any remaining obligations in excess of the amounts realized on the sale or liquidation of assets. necessary to satisfy any remaining obligations in excess of the amounts realized on the sale or liquidation of assets. and allocated surplus would be utilized as necessary to satisfy any remaining obligations in excess of the amounts realized on the sale or liquidation of assets.

Patronage distributions Patronage distributions distributions Patronage At the end of each year, the Association’s board of directors evaluates whether to retain the Association’s net At theend endof of eachyear, year, the theAssociation’s Association’sboard boardof ofdirectors directorsevaluates evaluateswhether whetherto toretain retain the theAssociation’s Association’snet net Patronage Distributions At the each income to strengthen its capital position or to distribute portion of the net income to customers by declaring income tostrengthen strengthen itscapital capitalposition position or to distribute portion ofto the netthe income to customers customers bydeclaring declaring At the end of each year, its the Association’s boardor ofto directors evaluates whether retain Association’s net income to strengthen income to distribute aaaportion of the net income to by aaa its capital qualified/cash patronage distribution. Patronage dividends are based on one year’s operating results. The portion of qualified/cash patronage distribution. Patronage dividends are basedaon onone oneyear’s year’s operating results.The The portion of are position or to distribute a portion of the netPatronage income to customers byare declaring qualified/cash patronage distribution. Patronage dividends qualified/cash patronage distribution. dividends based operating results. portion of based on one year’s operating results. The portion of is patronage-sourced income distributed is also allocated towritten patrons the form of patronage-sourced net income income not distributed isalso alsoallocated allocatednet topatrons patronsnot inthe theform formof of nonqualified writtenin notices patronage-sourced net not distributed to in nonqualified notices nonqualified of allocation. Thesenotices nonqualified written notices of allocation are included in unallocated retainedThe earnings. The of allocation.written Thesenotices nonqualified written notices of allocation allocation areincluded included in unallocated unallocated retained earnings. The of allocation. These nonqualified written of are in retained earnings. board of directors considers these unallocated earnings to be permanently invested in the Association. boardof ofdirectors directorsconsiders considersthese theseunallocated unallocated earnings earningsto tobe be permanently permanentlyinvested investedin inthe theAssociation. Association. board The following following table summarizes the qualified/cash patronagepatronage distributions for the years ending 31. The cash patronage dividends are The table summarizes thequalified/cash qualified/cash distributions forthe theDecember yearsending ending December 31.The The The following table summarizes the patronage distributions for years December 31. distributed in February of the subsequent year. cashpatronage patronagedividends dividendsare aredistributed distributedin in February February of ofthe thesubsequent subsequent year. year. cash Earnings Earnings Earnings Year Year Year 2025 2025 2025 2024 2024 2024 2023 2023 2023

Cash Cash Cash Distribution Distribution Distribution $145,000 $145,000 $145,000 $140,000 $140,000 $140,000 $130,000 $130,000 $130,000

Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income Accumulated Other Comprehensive Income (Loss) Farm East, ACA reports accumulated other income (loss) consolidated statements of Farm CreditEast, East, ACA reports accumulated other comprehensive comprehensive income (loss) in in its itsstatements consolidated statements of equity. Farm Credit Credit ACA reports accumulated other comprehensive income (loss) in its consolidated of changes in members’ changes in equity. As in comprehensive (loss) results the changes in members’ members’ equity. As described described in Note Note 2, other other comprehensive income (loss)Plan’s results from the recognition recognition As described in Note 2, other comprehensive income (loss) 2, results from the recognition income of the Pension netfrom unamortized gains and losses prior service credits and the unrealized holdingand gainprior or lossservice on cashcosts flow derivatives. were no other items affecting of the Pension Plan’s net unamortized gains and or and holding of theand Pension Plan’scosts netor unamortized gains and losses losses and prior service costs or credits creditsThere and the the unrealized unrealized holding comprehensive or loss. gain or cash derivatives. gain or loss loss on onincome cash flow flow derivatives. There There were were no no other other items items affecting affecting comprehensive comprehensive income income or or loss. loss. Thefollowing following tables present the activity in the accumulated other comprehensive income (loss) income by component. The tables present the in other (loss) The following tables present the activity activity in the the accumulated accumulated other comprehensive comprehensive income (loss) by by component. component. December 31 December31 31 December Cash flow hedges, net Cash flow hedges, net Cash flow hedges, net Pension and other benefit plans Pensionand andother otherbenefit benefitplans plans Pension Total Total Total

2025 2025 2025 9,747 9,747 9,747 (17,925) (17,925) (17,925) (8,178) (8,178) $$$ (8,178)

$$$

2024 2024 2024 (4,301) (4,301) (4,301) (24,763) (24,763) (24,763) (29,064) (29,064) $$$ (29,064) $$$

2023 2023 2023 $ (14,343) $ (14,343) $ (14,343) (29,535) (29,535) (29,535) (43,878) (43,878) $$$ (43,878)

Balance at December 31, 2024 Balanceat atDecember December31, 31,2024 2024 Balance Net current period other comprehensive income Netcurrent currentperiod periodother othercomprehensive comprehensiveincome income Net Balance at December 31, 2025 Balanceat atDecember December31, 31,2025 2025 Balance

Cash flow CashCash flow flow hedges, hedges, hedges, net net net (4,301) (4,301) $$$ (4,301) 14,048 14,048 14,048 9,747 9,747 $$$ 9,747

Pension and Pensionand and Pension other benefit otherbenefit benefit other plans plans plans (24,763) (24,763) $$$ (24,763) 6,838 6,838 6,838 (17,925) (17,925) $$$ (17,925)

Balance at December 31, 2023 Balanceat atDecember December31, 31,2023 2023 Balance Net current period other comprehensive income Netcurrent currentperiod periodother othercomprehensive comprehensiveincome income Net Balance at December 31, 2024 Balanceat atDecember December31, 31,2024 2024 Balance

Cash flow CashCash flow flow hedges, hedges, hedges, net net net (14,343) (14,343) $$$ (14,343) 10,042 10,042 10,042 (4,301) (4,301) $$$ (4,301)

Pension and Pensionand and Pension other benefit otherbenefit benefit other plans plans plans (29,535) (29,535) $$$ (29,535) 4,772 4,772 4,772 (24,763) (24,763) $$$ (24,763)

Balance Balance at at December December 31, 31, 2022 2022 Net Net current current period period other other comprehensive comprehensive income income Balance Balance at at December December 31, 31, 2023 2023

Cash Cash flow flow hedges, hedges, net net $$ (54,490) (54,490) 40,147 40,147 $$ (14,343) (14,343)

Pension Pension and and other other benefit benefit plans plans $$ (30,460) (30,460) 925 925 $$ (29,535) (29,535)

NOTE NOTE 99 –– Patronage Patronage Distributions Distributions from from Farm Farm Credit Credit Institutions Institutions Patronage Patronage income income recognized recognized from from Farm Farm Credit Credit Institutions Institutions are are as as follows. follows. Year Year Ended Ended December December 31 31 CoBank CoBank Other Other Total Total

2025 2025 65,693 65,693 7,721 7,721 $$ 73,414 73,414 $$

2024 2024 62,729 62,729 6,718 6,718 $$ 69,447 69,447 $$

2023 2023 56,322 56,322 5,471 5,471 $$ 61,793 61,793 $$

Farm Credit East 2025 Annual Report

$net(54,490) 40,147 $ (54,490) 40,147 (14,343) 40,147 $$ (14,343) $ (14,343)

Balance at December 31, 2022 Net current at period other comprehensive comprehensive income Balance December 31, 2022 income Net current period other Balance at December December 31, 2023 2023 Net current period other 31, comprehensive income Balance at Balance at December 31, 2023

$ plans (30,460) 925 $ (30,460) 925 (29,535) 925 $$ (29,535) $ (29,535)

NOTE 99 –– Patronage Patronage Distributions Distributions from from Farm Farm Credit Credit Institutions Institutions NOTE NOTE 9 ––PATRONAGE DISTRIBUTIONSfrom FROMFarm FARMCredit CREDITInstitutions INSTITUTIONS NOTE Patronage Distributions Patronage income recognized from Farm Credit Institutions are as follows. follows. Patronage income recognized from Farm Credit Institutions are as Patronage income recognized fromfrom Farm Credit are as follows. Patronage income recognized Farm Institutions Credit Institutions are as follows. Year Ended Ended December December 31 31 Year CoBank Year Ended December 31 CoBank Other CoBank Other Total Other Total Total

2025 2025 $ 65,693 2025 $ 65,693 7,721 $ 7,721 65,693 $ 73,414 7,721 $ 73,414 $ 73,414

2024 2024 $ 62,729 $ 2024 62,729 6,718 $ 6,718 62,729 $ 69,447 6,718 $ 69,447 $ 69,447

2023 2023 $ 56,322 2023 $ 56,322 5,471 $ 5,471 56,322 $ 61,793 5,471 $ 61,793 $ 61,793

Patronage distributions distributions from from CoBank CoBank relating relating to to the the Association’s Association’s average average direct direct note note borrowings borrowings are are distributed distributed in in Patronage cash. For CoBank patronage relating to participated loan volume, a portion is distributed in cash and the remainder Patronage distributions from CoBank to theloan Association’s average note borrowings are Patronage distributions from CoBank relating to the Association’s average direct note borrowings are distributed in cash. For CoBank in cash. For CoBank patronage relating torelating participated volume, a portion isdirect distributed in cash and thedistributed remainder incash. the form form of stock. stock. The $65.7 $65.7relating million accrued is isexpected expected toinbe becash paid by CoBank ininMarch March 2026. TheThe amount patronage relating topatronage participated loan volume, a portion distributed theCoBank remainder the form of stock. $65.7 million For CoBank toaccrued participated loan volume, aand portion is distributed in2026. cash and the remainder in the of The million is to paid by in The amount declared inexpected December 2024 and December 2023 were paid intodeclared March ofDecember theCoBank subsequent year. is to beThe paid$65.7 by CoBank in March 2026. The amount in 2024 December paid in March inaccrued the form of stock. million accrued is expected be paid by inand March 2026.2023 Thewere amount declared in December 2024 and December 2023 were paid in March of the subsequent year. of the subsequent year. 2024 and December 2023 were paid in March of the subsequent year. declared in December NOTE 10 – Income Taxes NOTE NOTE10 10–– Income INCOME Taxes TAXES NOTE 10 – Income Taxes The provision provision for for income income taxes consists consists of of the the following: following: The taxes The provision for income taxes consists of the following: The provision for income taxes consists of the following: Year Ended Ended December December 31 31 Year Current: Year Ended December 31 Current: Federal Current: Federal State Federal State Total current provision provision for for income income taxes taxes State Total current Deferred: Total current provision for income taxes Deferred: Federal Deferred: Federal State Federal State Total deferred provision provision (benefit) (benefit) from from income income taxes taxes State Total deferred (Decrease) increase in deferred tax asset valuation allowance Total deferred provision (benefit) from valuation income taxes (Decrease) increase in deferred tax asset allowance Provision for income taxes (Decrease) deferred tax asset valuation allowance Provision forincrease income in taxes Provision for income taxes

2025 2025 2025 2,830 $$ 2,830 1,162 $ 1,162 2,830 3,992 1,162 $$ 3,992 $ 3,992 468 468 159 468 159 627 159 627 (627) 627 (627) 3,992 (627) $$ 3,992 $ 3,992

2024 2024 2024 2,017 $$ 2,017 745 $ 2,017 745 2,762 745 $$ 2,762 $ 2,762 1,075 1,075 436 1,075 436 1,511 436 1,511 (1,511) 1,511 (1,511) 2,762 (1,511) $$ 2,762 $ 2,762 2023 2023 1,351 2023 $$ 1,351 489 $ 1,351 489 1,840 489 $$ 1,840 $ 1,840

Theamount amountof of income income taxes paid (net(net of refunds received) are as follows. The taxes paid of refunds refunds received) are as as follows: follows: The amount of income taxes paid (net of received) are TheYear amount ofDecember income taxes follows: Ended 31 paid (net of refunds received) 2025 are as2024 Year Ended December 31 Federal Year Ended December 31 Federal States Federal States Total income taxes taxes paid, paid, net net of of refunds refunds received received States Total income Total income taxes paid, net of refunds received

2025 2,227 2025 $$ 2,227 788 $ 2,227 788 3,015 788 $$ 3,015 $ 3,015

2024 2,177 2024 $$ 2,177 700 $ 2,177 700 2,877 700 $$ 2,877 $ 2,877

Year Ended December 31 Federal tax at at statutory statutory rate 31 Year Ended December Federal tax rate State tax, net State tax, net Federal tax at statutory rate Effect of nontaxable activities State of tax, net Effect nontaxable activities Patronage distributionactivities Patronage Effect of distribution nontaxable Change in valuation valuation allowance Patronage distribution Change in allowance Other Change in valuation allowance Other Provision for income income taxes taxes Other for Provision Provision for income taxes

2024 71,275 2024 $$ 71,275 587 587 $ 71,275 (56,338) 587 (56,338) (12,608) (12,608) (56,338) (1,511) (12,608) (1,511) 1,357 (1,511) 1,357 $ 2,762 1,357 $ 2,762 $ 2,762

2023 57,237 2023 $$ 57,237 465 465 $ 57,237 (45,182) 465 (45,182) (10,841) (10,841) (45,182) 1,033 (10,841) 1,033 (203) 1,033 (203) $ 2,509 (203) $ 2,509 $ 2,509

2023 2023 2023 1,920 $$ 1,920 589 $ 1,920 589 2,509 589 $$ 2,509 $ 2,509 (775) (775) (258) (775) (258) (1,033) (258) (1,033) 1,033 (1,033) 1,033 2,509 1,033 $$ 2,509 $ 2,509

The provision for income tax differs differs from the amount ofdetermined income by taxapplying determined by applying applying the federal applicable U.S. The provision for income tax the income tax determined by the applicable The provision for income tax differs from thefrom amount ofamount income taxof the applicable U.S. statutory tax rateU.S. to pretax statutory federal tax rate to pretax income as follows. The provision for income tax differs from the amount of income tax determined by applying the applicable U.S. income asfederal follows. tax rate to pretax income as follows. statutory statutory federal tax rate to pretax income as follows. Year Ended December 31 2025 2024 2023

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2025 77,874 2025 $$ 77,874 917 917 $ 77,874 (60,440) 917 (60,440) (13,989) (13,989) (60,440) (627) (13,989) (627) 257 (627) 257 $ 3,992 257 $ 3,992 $ 3,992

Deferred tax assets and liabilities are comprised of the following: Deferred tax assets and liabilities are comprised of the following: December 31 Deferred income tax assets: Allowance for credit losses Nonaccrual loan interest Annual leave Health reserve Long term incentive Deferred compensation Retirement plans Postretirement benefits other than pensions Other Gross deferred tax assets Less: valuation allowance Deferred tax assets, net Deferred income tax liabilities: Bank patronage after December 31, 1992 CoBank patronage Depreciation Deferred gain Gross deferred tax liability Net deferred tax asset

2025

2024

2023

$ 12,535 1,715 252 603 1,694 619 1,286 103 641 19,448 (9,254) 10,194

$ 11,087 1,516 735 578 1,535 700 3,915 133 650 20,849 (11,605) 9,244

(501) (8,494) (132) (1,067) (10,194) $ -

(501) (7,837) (152) (754) (9,244) $ -

(504) (7,019) (222) (733) (8,478) $ -

9,478 2,325 715 565 1,371 112 6,364 121 774 21,825 (13,347) 8,478

Thecalculation calculation ofofdeferred tax assets and liabilities involves various management estimates and assumptions as to assumptions future taxable earnings, The deferred tax assets and liabilities involves various management estimates and as to including the amount of non-patronage income and patronage income retained. Based on the Association’s strategic financial plan, primarily future taxable earnings, including the amount of non-patronage income and patronage income retained. Based on the expected future patronage programs and the tax benefits of the FLCA subsidiary, management believes that as of the end of 2025, none of the Association’s strategic financial plan, primarily expected future patronage programs and the tax benefits of the Association’s net deferred tax assets will be realizable in future periods. Accordingly, a valuation allowance is provided against the net deferred tax FLCA subsidiary, management believes that as than of the of50% 2025, none of based the Association’s netestimate, deferred tax assets assets since it has been determined that it is more likely notend (over probability), on management’s that they will not be will be realizable in future periods. Accordingly, a valuation allowance is provided against the net deferred tax realized. assets since it has been determined that it is more likely than not (over 50% probability), based on management’s estimate, that they will not be realized. The Association has no unrecognized tax benefits for which liabilities have been established for the years ended December 31, 2025, 2024 and

2023. The Association recognizes interest and penalties related to unrecognized tax benefits as an adjustment to income tax expense. The amount

The Association haswas no$0 unrecognized tax for whichwas liabilities have been for the years of interest recognized and the amount of benefits penalties recognized $0 for 2025. The totalestablished amount of unrecognized taxended benefits that, if recognized, 31, would affect2024 the effective tax rate is $0. The Association did not have any positions for which it is reasonably possible that December 2025, and 2023. The Association recognizes interest and penalties related to unrecognized taxthe total amountsas of an unrecognized taxto benefits willtax significantly or decrease therecognized next 12 months. tax years remain benefits adjustment income expense.increase The amount of within interest wasThe $0 and the that amount ofopen for federal and state income tax jurisdictions are2025. 2022 and penalties recognized was $0 for Theforward. total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate is $0. The Association did not have any positions for which it is reasonably possible that NOTE – EMPLOYEE BENEFIT PLANS the total11amounts of unrecognized tax benefits will significantly increase or decrease within the next 12 months. The tax years that remain open for federal and state income tax jurisdictions are 2022 and forward. The Association has employer-funded, qualified defined benefit pension plans, which are noncontributory and cover employees hired prior to January 1, 2007 (except the former Maine and Yankee employees who are participants in the noncontributory defined contribution plan). NOTE 11 – Employee Benefit Plans Depending on the date of hire, benefits are determined by a formula based on years of service and final average pay. Effective January 1, 2007, the Association closed the remaining qualified defined benefit pension plan to new participants.

The Association has employer-funded, qualified defined benefit pension plans, which are noncontributory and cover employees hiredalso prior January 1, 2007 (exceptnonqualified the formersupplemental Maine andexecutive Yankeeretirement employees are covering participants in as of The Association has atononcontributory, unfunded planwho (SERP) the CEO the noncontributory defined contribution plan). Depending on to thethedate of however, hire, benefits are determined by a formula December 31, 2025. The Association holds assets in a trust fund related SERP; such funds remain Association assets and are based on years of service final averagedisclosures. pay. Effective January 1, pension 2007, the Association closed the remaining not included as plan assets in and the accompanying The defined benefit plans and SERP are collectively referred to as qualified defined Retirement Plans. benefit pension plan to new participants. TheAssociation Association has a 401(k) plan pursuant unfunded to which thenonqualified Association matches 100% of employees’ contributions up to a The also has asavings noncontributory, supplemental executiveelective retirement plan (SERP) maximumthe employee contribution of 6%31, of compensation. In addition, under plan,in employees hired related on or after 1, 2007, receive covering CEO as of December 2025. The Association holdsthis assets a trust fund to January the SERP; additional such non-elective defined contributions. Theare Association contributions the 401(k) savings plan and the disclosures. employer defined however, funds employer remain Association assets and not included as plantoassets in the accompanying contribution plan, which are recorded as employee compensation expense, was $4.8 million, $4.7 million and $4.3 million at December 31, 2025, The defined benefit pension plans and SERP are collectively referred to as Retirement Plans.

2024 and 2023, respectively. For eligible senior managers, including senior officers, there also is a nonqualified deferred compensation plan, which includes benefits not provided under the employee savings plan due to certain Internal Revenue Code limitations.

The Association has a 401(k) savings plan pursuant to which the Association matches 100% of employees’ elective contributions up to a maximum employee contribution of 6% of compensation. In addition, under this plan, Eligible retirees also have other postretirement benefits (OPEB), which primarily include access to health care benefits. Most participants pay the employees hired on or with afterthese January 2007, receive additional non-elective employer full premiums associated other 1, postretirement health care benefits. Premiums are adjusted defined annually. contributions. The Association contributions to the 401(k) savings plan and the employer defined contribution plan, which are recorded as employee compensation expense, was $4.8 million, $4.7 million and $4.3 million at December 31, 2025, 2024 and 2023, respectively. For eligible senior managers, including senior officers, there also is a nonqualified deferred compensation plan, which includes benefits not provided under the employee savings plan due to certain Internal Revenue Code limitations.

Farm Credit East 2025 Annual Report

benefits. participants full premiumsbenefits associated with these postretirement healthtocare benefits. Eligible Most retirees also have pay otherthe postretirement (OPEB), whichother primarily include access health care Premiums are adjusted annually. benefits. Most participants pay the full premiums associated with these other postretirement health care benefits.

Premiums are adjusted annually. The following table provides a summary of the changes in the Retirement Plans’ projected benefit obligations and fair of assets the three-year period December 31, 2025, as well projected as a statement of funded status as Thevalues following tableover provides a summary of theended changes in the Retirement Plans’ benefit obligations and of December 31 of each year. fair values of assets over the three-year period ended December 31, 2025, as well as a statement of funded status as

The following table provides a summary of the changes in the Retirement Plans’ projected benefit obligations and fair values of assets over

of 31 ofended eachDecember year. 31, 2025, as well as a statement of funded status as of December 31 of each year. theDecember three-year period Year ended December 31

2025

Change in projected benefit obligation: Year ended December 31 Projected benefit obligation at beginning of year Change in projected benefit obligation: Service cost Projected Interest costbenefit obligation at beginning of year Service cost Actuarial (gain) loss Interest cost Transfers Actuarial (gain) loss Benefits paid Transfers Projected benefit obligation at end of year Benefits paid Change in plan assets: Projected benefit obligation at end ofof year Fair value of plan assets at beginning year Change in plan assets: Actual return on plan assets Fair valueContributions of plan assets at beginning of year Employer Actual return on plan assets Transfers Employer Contributions Benefits paid Transfers Fair valuepaid of plan assets at end of year Benefits Funded status of the plan: Fair value of plan assets at end of year Net asset (liability) recognized in the balance sheet Funded status of the plan: Amounts recognized in accumulated other Net asset (liability)income: recognized in the balance sheet comprehensive Amounts recognized accumulated other Unrecognized prior serviceincost comprehensive income: Unrecognized net actuarial loss Unrecognized prior service cost Total Loss Unrecognized net actuarial loss Total Loss

2024

2025

2024

2023

$ 139,928 2,059 $ 139,928 7,710 2,059 2,761 7,710 2,761 (14,082) $ 138,376 (14,082) 138,376 $$ 125,093

$ 151,928 2,331 $ 151,928 7,366 2,331 (8,907) 7,366 (8,907) (12,790) $ 139,928 (12,790) 139,928 $$ 127,969

$ 144,855 2,319 $ 144,855 7,304 2,319 7,626 7,304 (214) 7,626 (9,962) (214) $ 151,928 (9,962) 151,928 $$ 119,822

$ 133,506 $ (4,870)

$ 125,093 $ (14,835)

$ 127,969 $ (23,959)

$ (14,835)

$ (23,959)

17,197 $ 125,093 5,298 17,197 5,298 (14,082) $ 133,506 (14,082)

3,734 $ 127,969 6,180 3,734 6,180 (12,790) $ 125,093 (12,790)

(4,870)

1,153 15,737 1,153 $$ 16,890 15,737 $ 16,890

1,690 21,598 1,690 $$ 23,288 21,598 $ 23,288

16,317 $ 119,822 2,006 16,317 (214) 2,006 (9,962) (214) $ 127,969 (9,962)

2,445 25,739 2,445 $$ 28,184 25,739 $ 28,184

The projected benefit obligation and the accumulated benefit obligation for the Retirement Plans as of year-end are The projected benefit obligation and the accumulated benefit obligation for the Retirement Plans as of year-end are as follows. as follows. The projected benefit obligation and the accumulated benefit obligation for the Retirement Plans as of year-end are asDecember follows. 31

Projected Benefit Obligation: December 31 Funded Qualified Plans Projected Benefit Obligation: SERP Funded Qualified Plans Total SERP Accumulated Benefit Obligation: Total Funded Qualified Plans Accumulated Benefit Obligation: SERP Funded Qualified Plans Total SERP Total

2025 2025

$ 133,743 4,633 133,743 $$ 138,376 4,633 138,376 $$122,330 3,852 122,330 $$126,182 3,852 $ 126,182

2024 2024

$ 135,653 4,275 135,653 $$ 139,928 4,275 139,928 $$122,922 3,145 122,922 $$126,067 3,145 $ 126,067

2023 2023

$ 147,856 4,072 147,856 $$ 151,928 4,072 151,928 $$134,370 2,367 134,370 $$136,737 2,367 $ 136,737

The $133.5 $133.5 million in fair plan assets shown in a previous only table to the qualified plans. As depicted in the preceding The million invalue fair of value of plan assets shown table in a relates previous relates retirement only to the qualified retirement table, such plans had a projected benefit obligation and an accumulated benefit obligation of $133.7 million and $122.3 million, respectively, as of plans. As depicted preceding such plans projectedtable benefit obligation accumulated benefit The $133.5 millionininthe fair value of table, plan assets shownhad in aa previous relates only toand thean qualified retirement December 31, 2025. obligation of $133.7 million and $122.3 million, respectively, as of December 31, 2025. plans. As depicted in the preceding table, such plans had a projected benefit obligation and an accumulated benefit

obligation of $133.7 million $122.3 million, respectively, as ofhad December 31,$4.1 2025. The Association holds assets in trustand accounts related to its SERP plan. Such assets a fair value of million as of December 31, 2025, which The Association in trust accounts relatedbalance to itssheet. SERP plan. assetstohad fair value $4.1 million is included in “Otherholds Assets”assets in the accompanying consolidated Unlike theSuch assets related the aqualified plans,of those funds remain as of December 31, 2025, which is included in “Other Assets” in the accompanying consolidated balance sheet. Association assets and would be subject to general creditors in a bankruptcy or liquidation. Accordingly, they are not included as part of the assets The Association holds assets in trust accounts related to its SERP plan. Such assets had a fair value of $4.1 million Unlike related the qualified plans, those remain Association assets and would bebalance subjectsheet. to shown inthe theassets previous table. Astodepicted in preceding thefunds SERP planin hasthe a projected benefit obligation and an accumulated benefit obligation as of December 31, 2025, which is the included intable, “Other Assets” accompanying consolidated general creditors in a bankruptcy or liquidation. Accordingly, they are not included as part of the assets shown in of $4.6 million and $3.9 million, respectively, as of December 31, 2025. Unlike the assets related to the qualified plans, those funds remain Association assets and would be subject to the previous table. Asin depicted in the preceding table,Accordingly, the SERP plan projected benefit obligation and an general creditors a bankruptcy or liquidation. theyhas area not included as part of the assets shown in the accumulated benefit obligation of $4.6 million and $3.9 million, respectively, as of December 31, 2025. previous table. As depicted in the preceding table, the SERP plan has a projected benefit obligation and an accumulated benefit obligation of $4.6 million and $3.9 million, respectively, as of December 31, 2025. The following table represents the components of net periodic benefit cost and other amounts recognized in other comprehensive income as of December 31. The following table represents the components of net periodic benefit cost and other amounts recognized in other comprehensive income as of December 31.

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Year Ended December 2024 2023 The following table represents the31components of net periodic benefit2025 cost and other amounts recognized in other comprehensive income as of Year Ended December 31 2025 2024 2023 December 31. benefit Net periodic cost

Net periodic Service cost benefit cost $ 2,059 $ 2,331 $ 2,319 $ 2025 2,059 $ 2024 2,331 $ 2023 2,319 Interest cost 7,710 7,366 7,304 Interest cost 7,710 7,366 7,304 Net periodic Expected returnbenefit on plancost assets (8,574) (8,500) (8,559) Expected return plan assets Service cost $ (8,574) 2,059 $ (8,500) 2,331 $ (8,559) 2,319 Amortization of on unrecognized: Amortization unrecognized: Interest cost of 7,710 7,366 7,304 Prior service cost 537 755 755 Prior service 537755755 Expected return on plan assets (8,574) (8,500) (8,559) Actuarial losscost (12) Actuarial loss (12) Amortization of unrecognized: Total net periodic benefit cost $ 1,732$ 1,952$ 1,807 Priornet service costbenefit cost 537 755 755 Total periodic $ 1,732 $ 1,952 $ 1,807 Actuarial loss (12) Other Changes in Plan Assets and Benefit Obligation Recognized in Other Comprehensive Income Total net periodic benefit 1,732 $$ (4,141) 1,952 $$Income 1,807 Other Changes inloss Plancost Assets and Benefit Obligation$$Recognized in Other Comprehensive Net actuarial (gain) (5,861) (132) Net actuarial (gain) loss $ (5,861) $ (4,141) $ (132) Amortization of: Other in Plan Assets and Benefit Obligation Recognized in Other Comprehensive Income Amortization Prior Changes serviceof: credit (537) (755) (755) Net actuarial (gain) $ (5,861) $ (4,141) $ (132) Prior service credit (537)(755)(755) Net actuarial gain loss 12 Amortization Net recognized actuarialof:gain 12 Total in other comprehensive income $ (6,398)$ (4,896)$ (875) Priorrecognized service credit (537) (755) Total in other comprehensive income $ (6,398) $ (4,896) $ (755) (875) Net actuarial gain 12 TheTotal Association anticipates that its total for all retirement plans will be$ approximately $2.2 million recognized in other comprehensive incomepension expense $ (6,398) $ (4,896) (875)

Year December 31 ServiceEnded cost

The Association that itsintotal pension expense for all retirement plans will be approximately $2.2 million in 2026 comparedanticipates to $1.7 million 2025. inThe 2026 compared to $1.7 million in 2025. Association anticipates that its totalitspension expense forexpense all retirement plans will be approximately $2.2 in 2026 compared to $1.7 million The Association anticipates that total pension for all retirement plans will bemillion approximately $2.2 million in 2025. Assumptions in 2026 compared to $1.7 million in 2025. Assumptions The Association measures plan obligations and annual expense using assumptions designed to reflect future The Association measures plan obligations annualwill expense designed to reflect future Assumptions economic conditions. As the bulk of pensionand benefits not beusing paid assumptions for many years, the computations of pension Assumptions economic conditions. As the bulk of pension benefits will not be paid for many years, the computations of pension The Association measures plan obligations and annual expense using assumptions designed to reflect future economic conditions. expenses and benefits are based on assumptions about discount rates, estimates of annual increases in compensation The Association measures plan obligations and annual expense using assumptions designed to reflect future As the bulk of expenses and benefits are based on assumptions about discount rates, estimates of annual increases in compensation pension benefits will not be paid for many years, the computations of pension expenses and benefits are based on assumptions about discount rates, levels, andconditions. expected rates of bulk returnofon plan assets. economic As the pension benefits will not be paid for many years, the computations of pension estimates of annual increases levels,assets. and expected rates of return on plan assets. levels, and expected ratesinofcompensation return on plan expenses and benefits are based on assumptions about discount rates, estimates of annual increases in compensation The weighted-average rate used in the measurement of thebenefit Association’s benefit obligations are as levels, and expectedrate rates ofassumptions returnused on in plan assets. Theweighted-average weighted-average assumptions the measurement of the Association’s obligationsbenefit are as follows. The rate assumptions used in the measurement of the Association’s obligations are as follows. follows. TheDecember weighted-average rate assumptions used in the measurement2025 of the Association’s benefit obligations are as 31 2024 2023 December 31 2025 2024 2023 follows. Discount rate Discount rate31 December Rate of compensation increase (qualified plans only) Rate of compensation increase (qualified plans only) Discount rate Rate of compensation increase (qualified plans only)

5.45% 5.45% 2025 3.50% 3.50% 5.45% 3.50%

5.70% 5.70% 2024 3.50% 3.50% 5.70% 3.50%

5.00% 5.00% 2023 3.50% 3.50% 5.00% 3.50%

December 31

2025

2024

2023

Discount rate Discount rate31 December Expected rate of return on plan assets (qualified plans only) Expected rate rate of return on plan assets (qualified plans only) Discount Rate of compensation increase (qualified plans only) Rate of compensation plans only) Expected rate of returnincrease on plan (qualified assets (qualified plans only)

5.70% 5.70% 2025 6.00% 6.00% 5.70% 3.50% 3.50% 6.00%

5.00% 5.00% 2024 6.00% 6.00% 5.00% 3.50% 3.50% 6.00%

5.20% 5.20% 2023 6.00% 6.00% 5.20% 3.40% 3.40% 6.00%

Theweighted-average weighted-average rate rate assumptions used in the measurement of our net periodic benefit cost are asbenefit follows. cost are as follows. The assumptions used in the measurement of our net periodic The weighted-average rate assumptions used in the measurement of our net periodic benefit cost are as follows. 31 2025 2024 benefit2023 TheDecember weighted-average rate assumptions used in the measurement of our net periodic cost are as follows.

Rate of compensation increase (qualified plansaonly) 3.50% 3.50% 3.40% actuary. The The rates calculated spot yield curve method developed byactuary. an independent Thediscount discount rates areare calculated using ausing spot yield curve method developed by an independent The approach maps a high-quality bond The discount rates are calculated using a spot yield curve method developed by an independent actuary. The cash approach a high-quality bond yield curve to the duration of the liabilities, thus approximating yield curvemaps to the duration of the plans’ liabilities, thus approximating each cash flowplans’ of the liability stream to be discounted at aneach interest rate approach a high-quality bond yield curve tointerest the duration of developed the plans’ liabilities, approximating cash The discount rates are using spot curve method by an independent actuary. Theeach flow of themaps liability to be discounted atyield an rate specifically applicable tothus its respective period in time. specifically applicable tostream itscalculated respective period inatime. flow of the liability stream to be discounted at an interest rate specifically applicable to its respective period in time. approach maps a high-quality bond yield curve to the duration of the plans’ liabilities, thus approximating each cash flow of the liability toonbeassets discounted an interest ratetarget specifically applicable its respective in time. The rate ofstream return plan isatestablished based on current target asset and period the anticipated Theexpected expected rate of return on plan isassets established based on current asset allocations and thetoallocations anticipated future returns on those asset The expected rate of on plan is established onon current targetassumption asset allocations and theassumption anticipated classes. The expected ratereturn ofasset return on planassets assets assumption is also consistent with theassets pension plans’ long-term interest rate used for future returns on those classes. The expected rate ofbased return plan is also consistent with the future returns on those asset classes. The expected rate for of return plan assets assumption is also consistent with the funding purposes. The expected of return on plan assets is established based onon current target asset allocations and the anticipated pension plans’rate long-term interest rate assumption used funding purposes. pension plans’on long-term interest rateThe assumption forreturn funding purposes. future returns those asset classes. expected used rate of on plan assets assumption is also consistent with the Plan Assets pension plans’ long-term interest rate assumption used for funding purposes. Plan Assets Plan Assets Theasset asset allocation target rangesranges for the qualified benefit pensionbenefit plans follow the investment policy adopted by the Retirement The allocation target for the defined qualified defined pension plans follow the investment policy Trust Committee. This policy provides for a certain level of committee flexibility in selecting target allocation percentages. The actual asset allocations at The asset allocation target ranges for the qualified defined benefit pension plans follow the investment policy Plan Assets adopted by the Retirement Trust Committee. This policy provides for a certain level of committee flexibility in Decemberby31,the 2025, 2024 and 2023, areCommittee. shown in the following table, along with the adopted rangelevel for target allocation percentages by asset adopted Retirement Trust This policy provides for a certain of committee flexibility in class as of The asset target allocation target percentages. ranges for theThe qualified defined benefit pension plans follow the 2024 investment policy selecting allocation actual asset allocations at December 31, 2025, and 2023, are Decembertarget 31, 2025. The actualpercentages. allocation percentages reflect the market values at year-end and may vary during the course of2023, the year.are Plan assets are selecting allocation The actual asset allocations at December 31, 2025, 2024 and adopted thefollowing Retirement Trust Committee. This policy provides for allocation a certain level of committee flexibility shown inby the with theeach adopted range for target percentages by asset class asinof generally rebalanced to a leveltable, withinalong the target range year at the direction of the Committee. shown in the following table, along with the adopted range for target allocation percentages by asset as of the selecting target allocation percentages. The actual asset allocations at December 31, 2025, 2024 and 2023, December 31, 2025. The actual allocation percentages reflect the market values at year-end and may class vary are during December 31, 2025. The actual allocation percentages reflect the market values at year-end and may vary during shown in the following table, along with the adopted range for target allocation percentages by asset class as of the course of the year. Plan assets are generally rebalanced to a level within the target range each year at the direction of course of the year. Plan assets are generally rebalanced to a level within the target range each year at the direction December 31, 2025. The actual allocation percentages reflect the market values at year-end and may vary during theof the Committee. the Committee. course of the year. Plan assets are generally rebalanced to a level within the target range each year at the direction of the Committee. Farm Credit East 2025 Annual Report

Percentage of Plan Assets Percentage of Plan at December 31Assets at December 31

Target Allocation Target 1 Range Allocation 2025 2024 2023 Range1 2025 2024 2023 Asset Category Domestic Equity 23-27% 25% 29% 32% Asset Category Domestic Income 58-62 6025% 54 4532% DomesticFixed Equity 23-27% 29% International Equity, Emerging Markets Equity and Fixed Income 13-17 1560 1754 2345 Domestic Fixed Income 58-62 International Equity, Emerging Markets Equity and Fixed Income 13-17 15 17 23 Total 100% 100% 100% 100% Total 100% 100% 100% 100% 1 Future asset allocation changes for the Farm Credit East, ACA Retirement Plan are expected to occur in accordance with the liability-driven 1 investment strategy adopted by thefor Retirement the Plan’sPlan funded improves. Future asset allocation changes the Farm Trust CreditCommittee East, ACAasRetirement arestatus expected to occur in accordance with the liability-driven investment strategy adopted by the Retirement Trust Committee as the Plan’s funded status improves.

The assets of the qualified defined benefit pension plans consist primarily of investments in various domestic The of the defined benefit consist primarily of contain investments various domestic equity, international equity and Theassets assets of qualified the qualified defined benefit pension plans primarily of investments in various equity, international equity and bondpension funds.plans These funds doconsist not anyinsignificant investments in adomestic single bond funds. These funds do not contain any significant investments in a single entity, industry, country or commodity, thereby mitigating equity, international equity and bond funds. These funds do not contain any significant investments in a single entity, industry, country or commodity, thereby mitigating concentration risk. concentration risk. country or commodity, thereby mitigating concentration risk. entity, industry, The following table presents the major categories of plan assets that are measured at fair value at December 31, The following table presents the major categories of plan assets that are measured at fair value at December 31, 2025, for each of the fair value The following presents major categories of plan in assets 2025, for levels eachasoftable the fair value2.the hierarchy levels as defined Notethat 2. are measured at fair value at December 31, hierarchy defined in Note 2025, for each of the fair value hierarchy levels as defined in Note 2. December 31, 2025 Level 1 Level 2 Level 3 NAV1 Total December 31, 2025 Level 1 Level 2 Level 3 NAV1 Total Asset category Cash $ 669 $ $ $ $ 669 Asset category Domestic Cash Equity: $ 669 $ $ $ $ 669 Large-capEquity: growth funds2 15,432 15,090 30,522 Domestic 2 2 Small-cap --4,026 4,026 Large-capgrowth growthfunds funds 15,432 15,090 30,522 International Small-capEquity, growthEmerging funds2 4,026 4,026 Markets EquityEquity, and Fixed International Emerging Income3 Equity and Fixed 13,925 6,936 20,861 Markets 3 Domestic Income Bond Funds4 --77,428 77,428 IncomeFixed 13,925 6,936 20,861 Domestic Fixed Income Bond Funds4 $ 30,026 - $ 77,428 77,428 Total -- $ - - $ 103,480 $ 133,506 1 Total 30,026 $ net asset - value $ (NAV) - per$share 103,480 $ 133,506 Certain investments that are measured at fair$ value using the as a practical expedient have not been classified in1Certain the fair value hierarchy. fair value at amounts presented in this table value are intended of the fair have valuenot hierarchy to the investments that The are measured fair value using the net asset (NAV) to perpermit share reconciliation as a practical expedient been classified net invalue the pension plans. inassets the fair hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the 2 Funds invest in plans. diversified portfolios of common stocks of U.S. companies. net assets in primarily the pension 3 2 Funds portfolio ofofequities non-U.S. companies. Fundsinvest investprimarily primarilyinina diversified portfolios commonofstocks of U.S. companies. 4 3 Funds Treasury debt securities and corporate bonds of U.S. companies. Fundsinvest investprimarily primarilyininU.S. a diversified portfolio of equities of non-U.S. companies. 4 Funds invest primarily in U.S. Treasury debt securities and corporate bonds of U.S. companies.

Level 11plan are funds with quoted daily netdaily asset values that are directlythat observable by market participants. fair value of these funds is the Level planassets assets are funds with quoted net asset values are directly observable byThe market participants. net asset value at close of business on the reporting date. Level 2 plan assets are funds with quoted net asset values that are not directly by Level plan assets arefunds fundsiswith quoted that are observable by market participants. The fair1value of these the net assetdaily valuenet at asset close values of business on directly the reporting date. Level 2 plan assetsobservable are market participants. A significant portion of the underlying investments in these funds have individually observable market prices, which are utilized The fair of net these funds is thethat netare asset at close of business on theparticipants. reporting date. Level 2 plan assets funds withvalue quoted asset values notvalue directly observable by market A significant portion ofare by the plan’s to determine net assetthat value at close of business on the reporting date. Level 3 plan assets are funds with unobservable funds withtrustee quoted net assetinavalues are notindividually directly observable by market participants. significant portion the underlying investments these funds have observable market prices, whichAare utilized by the of net asset values and supported by limited orin nothese marketfunds activity. There were no purchases or sales of Level 3prices, plan assets in theare current year and the underlying individually observable market which byno thetransfers into plan’s trustee to investments determine a net asset value have at close of business on the reporting date. Level 3 planutilized assets are funds or out of the Level 3 assets occurred in the current year. plan’s trustee to determine a net asset value at close of business the reporting plan assets are with unobservable net asset values and supported by limited or noon market activity.date. ThereLevel were3no purchases or funds sales with unobservable net asset values and supported by limited or no market activity. There were no purchases or sales ofInvestment Level 3 plan assets in the current year and no transfers into out of the Level 3 assets occurred in the current strategy and objectives are described in the pension plans’ formal investment policy document. The basic strategy and objectives are to of Level 3 plan assets in the current year and no transfers into or out of the Level 3 assets occurred in the current year. manage portfolio assets with a long-term horizon appropriate for the participant demographics and cash flow requirements; to optimize long-term year. requirements by generating rates of return sufficient to fund liabilities and exceed the long-term rate of inflation; and to provide competitive funding Investment strategy and objectives are described in the pension plans’ formal investment policy document. The investment returns as measured against appropriate benchmarks. Investment and objectives are described in the pension formal investment policy for document. The basic strategystrategy and objectives are to manage portfolio assets with aplans’ long-term horizon appropriate the participant basic strategy and objectives are to manage portfolio assets with a long-term horizon appropriate for the participant Expected Contributions demographics and cash flow requirements; to optimize long-term funding requirements by generating rates of return In 2026, the expects torequirements; contribute $0 to its optimize definedrate benefit plans $0.4 million to trust investment fund related the SERP. demographics cash flow to long-term funding byitsgenerating rates to of return sufficient toAssociation fundand liabilities and exceed the long-term of retirement inflation; and and torequirements provide competitive returns fund liabilities andbenchmarks. exceed the long-term rate of inflation; and to provide competitive investment returns assufficient measuredtoagainst appropriate Estimated Future Benefit Payments as measured against appropriate benchmarks. The Association expects to make the following benefit payments for its retirement plans, which reflect expected future service, as appropriate. Expected Contributions Contributions InExpected 2026, the Association expects to contribute $0 to its defined benefit retirement plans and $0.4 million to its trust Estimated In 2026, thetoAssociation contribute $0 to its defined benefit retirement plans and $0.4 million to its trust fund related the SERP. expects to Benefit Payouts fund related to the SERP. 2026 Payouts $ 8,780 2027 PayoutsFuture Benefit Payments 10,344 Estimated 2028 Payouts 9,158 Estimated Future Benefit Payments The Association expects to make the following benefit payments for its retirement plans, which reflect expected 2029 Payouts 11,642 The expects to make the following benefit payments for its retirement plans, which reflect expected future service, as appropriate. 2030Association Payouts 9,601 future service, as appropriate. 2031 Payouts to 2035 Payouts 51,341 45

FOCUSED ON SUPPORTING YOUR VISION

Other Postretirement Benefits Postretirement benefits other than pensions (primarily health care benefits) are also provided to retirees of the

2031 2029 Payouts Payouts to 2035 Payouts 2030 Payouts 2031 Payouts to 2035 Payouts

51,341 11,642 9,601 51,341

Other Postretirement Benefits Postretirement benefits other than pensions (primarily health care benefits) are also provided to retirees of the Other Postretirement Benefits Association. The following table sets forth the funding status and weighted average assumptions used to determine Postretirement benefits other than pensions (primarily health care benefits) are also provided to retirees of the Other Postretirement post-retirement health Benefits care benefit obligations. Association. following table sets forth the funding status andare weighted average assumptions used to The determine PostretirementThe benefits other than pensions (primarily health care benefits) also provided to retirees of the Association. following table December 31 health 2025 2024post-retirement 2023health care benefit obligations. sets forth the funding status andbenefit weighted average assumptions used to determine post-retirement care obligations. Net asset (liability) recognized on balance sheet $ (103) $ (70) $ (205) Accumulated postretirement benefit obligation $ 2025 (392) $ 2024 (503) $ 2023 (456) December 31 Accumulated other comprehensive loss sheet 289 433 251 Net asset (liability) recognized on balance $$ (103) $$ (70) $$ (205) Net periodic expense 77 52 55 Accumulated postretirement benefit obligation $ (392) $$ (503) $ (456) Discount rate other comprehensive loss Accumulated $ 5.70% 289 $ 5.00% 433 $ 5.20% 251 Ultimate health care trend rate Net periodic expense $ 4.50% 77 $ 4.50% 52 $ 4.50% 55 Discount rate all postretirement health care plans have 5.70% 5.00% 5.20% Substantially no plan assets and are funded on a current basis by Ultimate contributions health care trend and rate retiree premium payments.4.50% 4.50% 4.50% employer

Substantially all postretirement health care plans have no plan assets and are funded on a current basis by Substantially all postretirement health care plans have no plan assets and are funded on a current basis by employer contributions and retiree employer contributions and retiree premium payments. The Association anticipates its postretirement benefits expense will be approximately $53 thousand in 2026 premium payments. which is a $24 thousand decrease from 2025. The anticipates its postretirement expense will be approximately thousand 2026 TheAssociation Association anticipates its postretirement benefitsbenefits expense will be approximately $53 thousand in$53 2026 which is ain $24 thousand decrease which is a $24 thousand decrease from 2025. NOTE 12 – Related Party Transactions from 2025. NOTE 12 ––RELATED Related Party Transactions 12 TRANSACTIONS InNOTE the ordinary coursePARTY of business, the Association enters into loan transactions with Association and CoBank directors and senior officers of the Association, their immediate families, and other organizations with which such the ordinary ordinary of of business, theloans Association enters into loan transactions with Association CoBank in directors and senior officers InInthe course business, the Association enters intoapproval loan transactions withand Association andFCA CoBank persons may becourse associated. Such are subject to special requirements contained the regulations of the Association, their immediate families, and other organizations with which such persons may be associated. Such loans are subject directors and senior of theincluding Association, their immediate families, other organizations withfor which such to and are made on the officers same terms, interest rates and collateral, as and those prevailing at the time special approval requirements contained in the FCA regulations and are made on the same terms, including interest rates andregulations collateral, as those persons maytransactions be associated. Such loans are subject to special approval requirements contained in the FCA comparable with unrelated borrowers. prevailing at the time for comparable transactions with unrelated borrowers. and are made on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions withparties unrelated borrowers. Loan related is shown Loan information information totorelated parties is shown below. below. Loan information to related parties is 2025 shown below. December 31

2024 2023 New loans/advances $ 86,015 $ 170,130 $ 143,072 Repayments 93,800 168,692 114,777 December 31 2025 2024 2023 Other (4,603) (62,208) 36,606 New loans/advances $ 86,015 $ 170,130 $ 143,072 Ending balance $ 109,744 $ 168,692 122,132 $ 114,777 182,902 Repayments 93,800 Other (4,603) (62,208) 36,606 Other changes to the related party loan $balance represent changes in the composition$ of 182,902 Association and CoBank directors and/or senior officers Ending balance 109,744 $ 122,132 Other changes to the related party loan balance represent changes in the composition of Association and CoBank

during 2025. In the opinion of management, none of these loans outstanding at December 31, 2025, involved more than a normal risk of

directors and/or senior officers during 2025. In the opinion of management, none of these loans outstanding at collectability andtonone these loans are in nonaccrual status. Other changes theof related party represent in theand composition of Association CoBank December 31, 2025, involved moreloan thanbalance a normal risk of changes collectability none of these loans are inand nonaccrual directors and/or senior officers during 2025. In the opinion of management, none of these loans outstanding at status. As of December 31, 2025, the Association’s investment in Financial Partners, Inc. (FPI) was $9.1 million which is included in other assets. December 31, 2025, involved more than a normal risk of collectability and none of these loans are in nonaccrual Accounting for this investment is on the equity method. FPI provides accounting, information technology and other services to the Association status. As December 31, 2025, thethe Association’s investment in Financial Partners, Inc. (FPI) $9.1 million which is onof a fee basis. Fees paid to FPI for years ended December 31, 2025, 2024 and 2023, were $14.9 million,was $12.9 million and $11.8 million, included in other assets. Accounting for this investment is on the equity method. FPI provides accounting, respectively. As of December 31, 2025, Association’s in Financial Inc.paid (FPI) $9.1the million information technology andthe other services to investment the Association on a feePartners, basis. Fees to was FPI for years which ended is included in31, other Accounting this investment is$12.9 on the equity method. FPI provides As of December 31,assets. 2025, the Association’s investment inmillion, FarmStart, LLP was $1.5 million which is included inaccounting, other assets. Accounting for this December 2025, 2024 and 2023, for were $14.9 million and $11.8 million, respectively. information other services to theincome Association on a fee income basis. Fees to FPI theofyears ended for the investment is technology on the equity and method. FarmStart recorded of $88 thousand, of $23paid thousand andfor a loss $110 thousand years ended December 31, 2025, 2024 and 2023, December 31, 2025, 2024 and 2023, were respectively. $14.9 million,in$12.9 millionLLP and was $11.8 million, respectively. As of December 31, 2025, the Association’s investment FarmStart, $1.5 million which is included As of December 31, 2025, the Association’s investment in AgDirect, LLP is $20.3 million which is included inin other assets. Accounting for this investment is on the equity method. FarmStart recorded of $88 thousand, other Accounting for this investment is on cost basis. Income recorded related toincome AgDirect, was $2.1 Asof of assets. December 31,31, 2025, the Association’s investment in aAgDirect, LLP is $20.3 million which is included inwhich other assets. Accounting As December 2025, the Association’s investment in FarmStart, LLP was $1.5 million isLLP included in for income of $23 thousand and a loss of $110 thousand for the years ended December 31, 2025, 2024 and 2023, million, $2.0 million and $1.6 million for the years ended December 31, 2025, 2024 and 2023, respectively. this investment is on a cost basis. Income recorded related to AgDirect, LLP was $2.1 million, $2.0 million and $1.6 million for the years ended other assets. Accounting for this investment is on the equity method. FarmStart recorded income of $88 thousand, respectively. December 2024 and 2023, respectively. income of 31, $232025, thousand and a loss of $110 thousand for the years ended December 31, 2025, 2024 and 2023, As of December 31, 2025, Farm Credit East had equity ownership interests in the following Unincorporated respectively. As of December 31,(UBE) 2025, Farm Credit Eastall hadformed equity ownership interests of in the followingand Unincorporated Business Entities (UBE) which were Business Entities which were for the purpose acquiring holding other property owned. all formed for the purpose other property owned. During 2025, there was no activity in these UBEs. During 2025, there wasofnoacquiring activityand in holding these UBEs. Name

RHBarnes RD, LLC Farm Credit East Rochester/Plymouth REO, LLC Eastern Greenhouses, LLC

Ownership % 100% 100% 100%

NOTE 13––REGULATORY RegulatoryENFORCEMENT Enforcement Matters NOTE 13 MATTERS There noregulatory regulatory enforcement actions effect for the Association. There are are no enforcement actions in effectinfor the Association. NOTE 14 – Commitments and Contingencies

Farm Credit East 2025 Annual Report

The Association has various commitments outstanding and contingent liabilities. With regard to contingent

NOTE 14 – COMMITMENTS AND CONTINGENCIES The Association has various commitments outstanding and contingent liabilities. With regard to contingent liabilities, there are no actions pending against the Association in which claims for monetary damages are asserted. The Association may participate in financial instruments with off-balance-sheet risk to satisfy the financing needs of its borrowers and to manage their exposure to interest rate risk. These financial instruments include commitments to extend credit, commercial letters of credit and standby letters of credit. The instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the financial statements. Commitments to extend credit are agreements to lend to a borrower as long as there is not a violation of any condition established in the contract. Commercial letters of credit are agreements to pay a beneficiary under conditions specified in the letter of credit. Standby letters of credit are irrevocable agreements to guarantee payments of specified financial obligations. Commitments and letters of credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. At December 31, 2025, $5.2 billion of commitments to extend credit, $67.2 million of commercial letters of credit, and $52.4 million of standby letters of credit were outstanding. Since many of these commitments are expected to expire without being drawn upon, the total commitments do not necessarily represent future cash requirements. However, these credit-related financial instruments have off-balance-sheet credit risk because their amounts are not reflected on the balance sheet until funded or drawn upon. The credit risk associated with issuing commitments and letters of credit is substantially the same as that involved in extending loans to borrowers and management applies the same credit policies to these commitments. Upon fully funding a commitment, the credit risk amounts are equal to the contract amounts, assuming that borrowers fail completely to meet their obligations and the collateral or other security is of no value. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation of the borrower. Reserves related to unfunded commitments to extend credit are included in the calculation of the allowance for loan losses. NOTE 15 – FAIR VALUE MEASUREMENTS Accounting guidance defines fair value as, “the exchange price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants in the principal or most advantageous market for the asset or liability.” The fair value measurement is not an indication of liquidity. See Note 2 for a more complete description of the three input levels. Sensitivity to Changes in Significant Unobservable Inputs Quoted market prices may not be available for the instruments presented below. Accordingly, fair values are based on internal models that consider judgments regarding anticipated cash flows, future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates involve uncertainties and matters of judgment, and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Quantitative Information about Recurring and Nonrecurring Fair Value Measurements Assets and liabilities measured at fair value on a recurring basis at December 31 for each of the fair value hierarchy values are summarized below. Fair Value Measurement Using Assets: 2025 Derivative assets Assets held in trust RBICs 2024 Derivative assets Assets held in trust RBICs 2023 Derivative assets Assets held in trust RBICs Liabilities: 2025 Derivative liabilities 2024 Derivative liabilities 2023 Derivative liabilities

Total Fair Value

Level 1

Level 2

Level 3

$ $ $

10,324 -

$ 10,677 $ $ -

$ $ $

7,367

$ $ $

10,677 10,324 7,367

$ $ $

8,585 -

$ $ $

2,888 -

$ $ $

4,569

$ $ $

2,888 8,585 4,569

$ $ $

7,421 -

$ $ $

5,712 -

$ $ $

3,504

$ $ $

5,712 7,421 3,504

931

$ 7,189

7,189

$ 20,055

20,055

Assets measured at fair value on a non-recurring basis at December 31 for each of the fair value hierarchy values are summarized below. 47

FOCUSED ON SUPPORTING YOUR VISION

Fair Value Measurement Using Level 1

Level 2

Level 3

Total Fair Value

Derivative liabilities liabilities Derivative 2023 2023 Derivative liabilities liabilities Derivative

7,189 $$ 7,189

7,189 7,189

20,055 $$ 20,055

20,055 20,055

Assets measured measured at at fair fair value value on on aa non-recurring non-recurring basis basis at at December December 31 31 for for each each of of the the fair fair value value hierarchy hierarchy values values are are Assets summarized below. summarized below. Assets measured at fair value on a non-recurring basis at December 31 for each of the fair value hierarchy values are summarized below. Fair Value Value Measurement Measurement Using Using Fair Level 1 1 Level

Assets: Assets: 2025 2025 Nonaccrual Loans Loans Nonaccrual Other Property Property Owned Owned Other 2024 2024 Nonaccrual Loans Loans Nonaccrual 2023 2023 Nonaccrual Loans Loans Nonaccrual

$$ $$

Level 2 2 Level

---

Level 3 3 Level

Total Fair Fair Total Value Value

$$ $$

---

$$ $$

90,756 90,756 110 110

$$ $$

90,756 90,756 110 110

55,381 55,381

17,884 17,884

Asof ofDecember December 31, nono other property owned balances. As of December 31, 2024, 2024,and and2023, 2023,there therewere were no other property owned balances. As 31, 2024, and 2023, there were other property owned balances. Financial assets andfinancial financialliabilities liabilities measured at carrying carrying amounts and not measured measured atvalue fair value value on the balance balance Financial assets assets and measured at carrying amounts and and not measured at fairat on theon balance sheet for each of the Financial and financial liabilities measured at amounts not fair the sheet for each each of the thevalues fair value value hierarchy values values are are summarized summarized below. below. fair value hierarchy are summarized below. sheet for of fair hierarchy December 31 31 December

Financial assets: assets: Financial Loans, net net Loans, Cash Cash Financial liabilities: liabilities: Financial

Notes payable payable to to ACB ACB Notes

2025 2025

2024 2024

2023 2023

Carrying Carrying Amount Amount

Fair Fair Value Value

Fair Value Value Fair Hierarchy Hierarchy

Carrying Carrying Amount Amount

Fair Fair Value Value

Fair Value Value Fair Hierarchy Hierarchy

Carrying Carrying Amount Amount

Fair Fair Value Value

Fair Fair Value Value Hierarchy Hierarchy

$14,159,908 $14,159,908 36,000 $$ 36,000

$13,998,441 $13,998,441 36,000 $$ 36,000

Level 33 Level Level 11 Level

$12,839,593 $12,839,593 25,252 $$ 25,252

$12,655,969 $12,655,969 25,252 $$ 25,252

Level 33 Level Level 11 Level

$11,437,350 $11,437,350 31,259 $$ 31,259

$11,115,878 $11,115,878 31,259 $$ 31,259

Level 33 Level Level 11 Level

$11,928,497 $11,928,497

$11,740,135 $11,740,135

Level 33 Level

$10,762,587 $10,762,587

$10,463,204 $10,463,204

Level 33 Level

9,498,822 $$ 9,498,822

9,160,511 $$ 9,160,511

Level 33 Level

Valuation Techniques Techniques Valuation Techniques Valuation As more fully in in Note 2 –22Summary of Significant Accounting Policies,Policies, accounting guidance establishes fair value hierarchy, which As more fully discussed in Note Summary of Significant Significant Accounting Policies, accounting guidanceaestablishes establishes As more fullydiscussed discussed Note –– Summary of Accounting accounting guidance aa requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of following presents a brief summary of thefair valuation used for the Association’s assets and subjecttechniques to fair value measurement. unobservable inputs when measuring fair value.techniques The following following presents brief summary summary ofliabilities the valuation valuation techniques unobservable inputs when measuring value. The presents aa brief of the used for the Association’s assets and liabilities subject to fair value measurement. used for the Association’s assets and liabilities subject to fair value measurement. Cash The carrying value of cash is a reasonable estimate of fair value. Cash Cash The carrying carrying value value of of cash cash is is aa reasonable reasonable estimate estimate of of fair fair value. value. The Assets Held in Non-Qualified Benefits Trusts Assets held in trust funds related to deferred compensation and supplemental retirement plans are classified within Level 1. These assets include investments that are actively traded and have quoted net asset values that are observable in the marketplace. Loans Fair value is estimated by discounting the expected future cash flows using CoBank’s and/or the Association’s current interest rates at which similar loans would be made to borrowers with similar credit risk. The discount rates are based on the District’s current loan origination rates as well as management estimates of credit risk. Management has no basis to determine whether the estimated fair values presented would be indicative of the assumptions and adjustments that a purchaser of the Association’s loans would seek in an actual sale, which could be less. Other Property Owned Other property owned is generally classified as Level 3. The process for measuring the fair value of the other property owned involves the use of appraisals or other market-based information. Costs to sell represent transaction costs and are not included as a component of the asset’s fair value. As a result, these fair value measurements fall within Level 3 of the hierarchy. RBICs The RBICs facilitate equity and debt investments in agricultural-related businesses that create growth and job opportunities in rural America. These investments are not publicly traded, and book value approximates their fair value. As a result, RBICs are classified within Level 3 of the hierarchy and are included in other assets on the consolidated balance sheets. Nonaccrual Loans For certain loans individually evaluated for impairment under FASB impairment guidance, the fair value is based upon the underlying collateral as the loans are considered to be collateral-dependent. The fair value measurement process uses independent appraisals and other market-based information, but in many cases, it also requires significant input based on management’s knowledge of and judgment about current market conditions, specific issues relating to the collateral and other matters. As a result, these fair value measurements fall within Level 3 of the hierarchy. When the value of the real estate, less estimated costs to sell, is less than the principal balance of the loan, a specific reserve is established. Farm Credit East 2025 Annual Report

Notes Payable to CoBank, ACB The notes payable is segregated into pricing pools according to the types and terms of the loans (or other assets) which they fund. Fair value of the note payable is estimated by discounting the anticipated cash flows of each pricing pool using the current rate that would be charged for additional borrowings. For purposes of this estimate, it is assumed the cash flow on the notes is equal to the principal payments on the Association’s loan receivables plus accrued interest on the notes payable. This assumption implies that earnings on the Association’s interest margin are used to fund operating expenses and capital expenditures. Derivatives Exchange-traded derivatives valued using quoted prices are classified within Level 1 of the valuation hierarchy. However, few classes of derivative contracts are listed on an exchange; thus, the Association’s derivative positions are valued using internally developed models that use as their basis readily observable market parameters and are classified within Level 2 of the valuation hierarchy. Such derivatives include basic interest rate swaps. Derivatives that are valued based upon models with significant unobservable market parameters and that are normally traded less actively, or have trade activity that is one way, are classified within Level 3 of the valuation hierarchy. The Association does not have any derivatives classified within Level 3.

NOTE 16 – Derivative Instruments and Hedging Activities

The models used to determine the fair value of derivative assets and liabilities use an income approach based on observable market inputs, primarily the LIBOR swap curve and volatility assumptions about future interest rate movements. Risk Management Objectives

The Association maintains an overall interest rate risk management strategy that incorporates the use of derivative NOTE 16 – DERIVATIVE INSTRUMENTS ANDfluctuations HEDGING ACTIVITIES instruments to minimize significant unplanned in earnings that are caused by interest rate volatility. The Association’s goal is to manage interest rate sensitivity by modifying the repricing or maturity characteristics of Risk Management certain balance sheetObjectives assets or liabilities so that the net interest margin is not adversely affected by movements in The Association maintains overall interest risk management strategy that incorporates use ofand derivative instruments interest rates. As a resultanof interest raterate fluctuations, the Association’s interest the income interest expensetoofminimize significant unplanned fluctuations in earnings that are caused by interest rate volatility. The Association’s goal is to manage interest rate sensitivity hedged variable-rate assets will increase or decrease. The effect of this variability in earnings is expected to be by modifying the repricing or maturity characteristics of certain balance sheet assets or liabilities so that the net interest margin is not adversely affected by movements in substantially offset by the Association’s gains and losses on the derivative instruments that are linked to these interest rates. As a result of interest rate fluctuations, the Association’s interest income and interest expense of hedged variable-rate assets will increase or hedged assets. The Association considers its strategic use of derivatives to be a prudent method of managing interest decrease. The effect of this variability in earnings is expected to be substantially offset by the Association’s gains and losses on the derivative instruments rate sensitivity, as it prevents earnings from being exposed to undue risk posed by changes in interest rates. that are linked to these hedged assets. The Association considers its strategic use of derivatives to be a prudent method of managing interest rate sensitivity, as it prevents earnings from being exposed to undue risk posed by changes in interest rates.

By using derivative instruments, the Association exposes itself to credit and market risk. Generally, when the fair value of a derivative contract is positive, this indicates that the counterparty owes the Association, thus creating a By using derivative instruments, the Association exposes itself to credit and market risk. Generally, when the fair value of a derivative contract is positive, repayment risk for the Association. When the fair value of the derivative contract is negative, the Association owes this indicates that the counterparty owes the Association, thus creating a repayment risk for the Association. When the fair value of the derivative contract the counterparty and, therefore, assumes no repayment risk. The Association’s derivative activities are monitored by is negative, the Association owes the counterparty and, therefore, assumes no repayment risk. The Association’s derivative activities are monitored by its its asset/liability committee (ALCO) as part of its oversight of asset/liability and treasury functions. asset/liability committee (ALCO) as part of its oversight of asset/liability and treasury functions. Uses Derivatives Uses ofofDerivatives The Association enters interest rate swaps to stabilize netincome interest on variable priced loan assets, The Association enters intointo interest rate swaps to stabilize net interest on income variable priced loan assets, to the extent they to arethe funded with extent they are funded with equity. Under interest rate swap arrangements, the Association agrees with other parties equity. Under interest rate swap arrangements, the Association agrees with other parties (CoBank) to exchange, at specified intervals, payment (CoBank) to exchange, at specified payment streams on a on specified notional streams calculated on a specified notionalintervals, principal amount, with at least calculated one stream based a specified floatingprincipal rate index.amount, The Association’s with at least one stream a specified rate assets, to thein net interest interest-earning assets, to thebased degreeon they are fundedfloating with debt, are index. matchedThe withAssociation’s similarly pricedinterest-earning and termed liabilities. Volatility degree they are funded debt, are matched with and termed liabilities. Volatility in net interest income comes from equitywith funded variable priced assets. Tosimilarly the degree priced that variable priced assets are funded with equity, interest rate swaps in which income comes from equity funded variable priced assets. To the degree that variable priced assets are funded with the Association pays the floating rate and receives the fixed rate (receive fixed swaps) are used to reduce the impact of market fluctuations on the equity, interest rate swaps in which the Association pays the floating rate and receives the fixed rate (receive fixed Association’s net interest income. swaps) are used to reduce the impact of market fluctuations on the Association’s net interest income. The notional amounts of derivatives are shown in the following table.

The notional amounts of derivatives are shown in the following table. December 31 Interest Rate Contracts

2025

2024

2023

$ 2,000,000

$ 1,815,000

$ 1,620,000

Accounting for Derivative Instruments and Hedging Activities The Association records derivatives as assets and liabilities at their fair value in the consolidated balance sheets and Accounting for Derivative Instruments and Hedging Activities records changes in the fair value of a derivative in accumulated other comprehensive incomesheets (loss). Association The Association records derivatives as assets and liabilities at their fair value in the consolidated balance andThe records changes in the fair only into cash flow hedgeother transactions. value enters of a derivative in accumulated comprehensive income (loss). The Association only enters into cash flow hedge transactions. Cash FlowHedges Hedges Cash Flow The Association Association “receive fixed/pay swaps toofhedge risk of overall changes theThe cash usesuses “receive fixed/pay variable”variable” interest rateinterest swaps torate hedge the risk overallthe changes in the cash flows of an in asset. asset is defined as a pool variable rateisloans equalastoathe notional amount ofvariable the swaps,rate andloans not exceeding thethe Association’s equity position. flows ofofanlong-term asset. The asset defined pool of long-term equal to notional amount of the These swaps, which qualify for hedge accounting, have up to a three-year with pay ratesswaps, indexedwhich to the Secured Financing Rate (SOFR). swaps, and not exceeding the Association’s equity term, position. These qualifyOvernight for hedge accounting, have up to a three-year term, with pay rates indexed to the Secured Overnight Financing Rate (SOFR). 49

Summary of Derivative Instruments and Hedging Activities FOCUSED ON SUPPORTING YOUR VISION A summary of the impact of derivative financial instruments in the consolidated balance sheets is shown in the following table.

The Association uses “receive fixed/pay variable” interest rate swaps to hedge the risk of overall changes in the cash flows of an asset. The asset is defined as a pool of long-term variable rate loans equal to the notional amount of the swaps, and not exceeding the Association’s equity position. These swaps, which qualify for hedge accounting, have up to a three-year term, with pay rates indexed to the Secured Overnight Financing Rate (SOFR). Summary of Derivative Instruments and Hedging Activities

Summary Hedging Activitiesin the consolidated balance sheets is shown in the A summaryofofDerivative the impactInstruments of derivativeand financial instruments A summary of the impact of derivative financial instruments in the consolidated balance sheets is shown in the following table. following table. Derivative Assets1

Derivative Liabilities2

2025 Interest Rate Contracts $ 10,677 $ 931 2024 Interest Rate Contracts $ 2,888 $ 7,189 2023 Interest Rate Contracts $ 5,712 $ 20,055 1 Derivative assets are included in other assets in the consolidated balance sheets. 2 Derivative liabilities are included in other liabilities in the consolidated balance sheets.

A summary of the impact of derivative financial instruments in the consolidated statements of comprehensive

income is shown in theoffollowing tables. instruments in the consolidated statements of comprehensive income is shown in the following tables. A summary of the impact derivative financial Net Amount of Gain (Loss) Recognized in Income on Derivatives1 2025 2024 2023

December 31 1

Interest Rate Contracts $ (8,623) $ (33,979) $ (48,540) Located in interest expense in the consolidated statements of income for each of the respective periods presented. Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivatives December 31 Interest Rate Contracts

2025 $

14,048

2024 $

10,042

2023 $

40,147

CounterpartyCredit Credit Risk Counterparty Risk TheAssociation Association is exposed to credit in theofevent of nonperformance by other theswap interest rate swap The is exposed to credit loss inloss the event nonperformance by other parties to theparties interesttorate agreement. If a counterparty agreement. If performance a counterparty fails tounder fulfilla its performance undercredit a derivative contract, thevalue Association’s fails to fulfill its obligations derivative contract,obligations the Association’s risk will equal the fair gain in a derivative. The Association repayment) by only entering into transactions with CoBank, its funding bank, and are credit risk minimizes will equalthe thecredit fair (or value gain in arisk derivative. The Association minimizes the credit (or repayment) riskcollateralized by through loan agreements. Notwithstanding collateralitsand nettingbank, provisions, ourcollateralized derivative assetsthrough and liabilities not offset in the accompanying only entering into transactions with CoBank, funding and are loanare agreements. consolidated balancecollateral sheets. and netting provisions, our derivative assets and liabilities are not offset in the Notwithstanding accompanying consolidated balance sheets.

NOTE 17 – SUBSEQUENT EVENTS

NOTE 17 – Subsequent Events

The Association has evaluated subsequent events through March 13, 2026, which is the date the financial statements were issued or available to be issued. There have no material subsequent eventsthrough that would require in the 2025 consolidated financial statements. The Association hasbeen evaluated subsequent events March 13,recognition 2026, which is the date the financial statements

were issued or available to be issued. There have been no material subsequent events that would require recognition in the 2025 consolidated financial statements.

Farm Credit East 2025 Annual Report

FARM CREDIT EAST, ACA

BOARD OF DIRECTOR DISCLOSURES BOARD STRUCTURE As of December 31, 2025, the board consisted of sixteen directors: thirteen elected directors, one appointed customer director and two appointed outside directors. In the 2026 election cycle there are three open director seats to be elected for four-year terms. Additionally, during the 2026 election: • •

The director seat currently held by David Folino will be eliminated. The Eastern Region director seat currently held by Kyle Thygesen is up for election and must be filled by someone from the portion of the Eastern Nominating Region that comprises the chartered territory that had been serviced by Yankee Farm Credit.

These are the final board structure changes that will complete the multi-year downsizing of the board following the merger with Yankee Farm Credit. At the completion of the 2026 director election cycle, the board will reach its final structure of 12 stockholder-elected directors and at least two appointed directors. Farm Credit East has three Nominating Regions as shown on the map on the inside back cover of this Annual Report. Farm Credit East’s bylaws specify four-year terms with a limit of four consecutive terms and that there will be one seat from each region open for election each year after the final board structure is reached in 2026. Association bylaws also specify that director candidates be nominated by region and be elected by the entire membership. The board may appoint up to four directors, two of which must be outside directors, i.e., not having a borrowing relationship with Farm Credit East. The board is independent of management. The CEO reports to the board and no management or employees may serve as directors within one year of employment. The board generally has seven regularly scheduled meetings each year and has established a number of committees to provide concentrated focus and expertise in particular areas and to enhance the overall efficiency of scheduled board meetings. Each committee created by the board prepares a charter outlining the committee’s purpose, its duties, responsibilities, and authorities. All committees report on their meetings at the regular meeting of the full board. Minutes of each committee meeting are documented and approved at the following meeting. The full text of each committee charter is available on our website under “Board Committees” at FarmCreditEast.com. Association bylaws established an Executive Committee. The board has also established the following standing committees: Compensation Committee, Audit Committee, Business Risk Committee, Governance/Stewardship Committee and a Technology Committee. The primary responsibilities of each board committee are described as follows: EXECUTIVE COMMITTEE The Executive Committee members consist of the board chair, vice chair and three other directors designated by the board, each representing a nominating region other than those represented by the chair or vice chair. The Board Chair has the authority to appoint one other member. The committee is primarily responsible for 51

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providing input and direction to management on the development and implementation of the Association’s strategic plan, policies and other significant matters requiring attention between board meetings. The committee also acts as liaison with the Association’s regulator, the FCA. COMPENSATION COMMITTEE The Compensation Committee consists of the Executive Committee. The committee is responsible for reviewing compensation policies and plans for senior officers and employees including the performance and compensation for the Chief Executive Officer. AUDIT COMMITTEE The Audit Committee members are appointed by the board chair in consultation with the board officers. All members of the Audit Committee are independent of Farm Credit East management and any other System entity. Each committee member shall be knowledgeable in at least one of the following areas: public and corporate finance, accounting procedures, and/or financial reporting and disclosure. Joseph W. McWatters was appointed to the board of directors in 2021 and his current term expires in 2029. The board has determined that Mr. McWatters has the qualifications and experience necessary to serve as the Audit Committee “financial expert,” as defined by FCA regulations, and has been designated as such. The primary purpose of the Audit Committee is to assist the board in fulfilling its oversight responsibilities for internal controls over financial reporting (ICFR), the integrity of the Association’s financial statements, the Association’s compliance with legal and regulatory requirements, the external auditor’s qualifications and independence, and the performance of the Association’s internal audit function, quality assurance function and external auditors. The Audit Committee has unrestricted access to representatives of the internal audit and risk management departments, financial management and our independent auditors. The Audit Committee pre-approves all audit and audit-related services and permitted non-audit services (including the fees and terms thereof) to be performed for the Association by its independent auditors, as negotiated by management. Aggregate fees incurred by the Association for services rendered by its independent auditors, PricewaterhouseCoopers, LLP, for the years ended December 31, 2025, and 2024 follow: For the year ended December 31

2025

2024

Audit Audit-related Tax

$ 386,000 120,000 74,130

$ 376,000 25,000 91,262

Total

$ 580,130

$ 492,262

BUSINESS RISK COMMITTEE The Business Risk Committee members are appointed by the board chair in consultation with the board officers. The committee is primarily responsible for assisting the board in fulfilling its oversight responsibilities related to business and enterprise-wide risk. The committee oversees that management effectively addresses risks including but not limited to the following areas: strategic, credit, operational, regulatory, reputation and financial. GOVERNANCE/STEWARDSHIP COMMITTEE The Governance/Stewardship Committee members are appointed by the board chair in consultation with the board officers. The committee is primarily responsible for the training and education of board members, regulatory compliance, board governance, the outside director election process, director compensation, ethics and conflict of interest matters. In addition, the committee provides oversight and direction of the Association’s stewardship initiatives and Knowledge Exchange program, inclusive of marketing and communications activity. The committee represents Farm Credit East on the governing council of FarmStart, LLP. TECHNOLOGY COMMITTEE The Technology Committee members are appointed by the board chair in consultation with the board officers. The committee is primarily responsible for assisting the board in fulfilling its oversight responsibilities related to the organization’s technology strategy, initiatives, and risk management. These committee members will be vested with responsibility for the Association’s Cyber Risk Management, use of artificial intelligence and technology innovation. Other Committees NOMINATING COMMITTEE The Nominating Committee is comprised of at least one member and an alternative member from each office location, who are elected each year by the membership at the annual stockholder meeting. This committee, which consists of customers who are not seated on the board of directors, proactively identifies qualified candidates for board membership and reviews director nominations, helping to ensure that the Association continues to attract a highly qualified and diverse board. The Nominating Committee makes an effort to recommend at least two candidates for each open board position. Stockholders and interested candidates may gather signatures for petitions to run for the board following the conclusion of the Nominating Committee’s work.

Farm Credit East 2025 Annual Report

FARM CREDIT EAST DIRECTORS Information regarding directors who served as of December 31, 2025, including business experience in the last five years and any other business interest where a director serves on the board of directors or as a senior officer follows: JOHN P. KNOPF, Canandaigua, NY, has served as director since 2013. His current term expires in 2029. He currently serves as Board Chair and is a member of the Compensation Committee and serves as chair of the Executive Committee. John and his partner Robert DiCarlo are owners of Fa-Ba Farms, LLC, a dairy business milking 580 cows and caring for 400 replacement animals. Production land includes 800 acres devoted to forage production. John also owns a controlling interest in Knopf Real Estate Partners. He is a member of the CoBank Nominating Committee. LOUANNE F. KING, Madrid, NY, was elected director in 2017. Her current term expires in 2029. She currently serves as Vice Chair, is a member of the Executive Committee and serves as chair of the Compensation Committee. LouAnne is an owner of Mapleview Dairy LLC with her brother, David Fisher, and extended family. The family operates businesses which include a 3,000-cow dairy, a 2,800-replacement heifer facility, and approximately 5,800 acres for forage and grain. LouAnne is also an owner of Midas Touch Genetics. LouAnne is a past member of the NEDPA board, the NYS Dairy Promotion Advisory Board, Pro-Dairy Advisory Board, National Holstein Legislative and Regulatory Affairs Committee and the St. Lawrence County Dairy Promotion Committee. She currently vice-chairs the St. Lawrence County Workforce Development Board. She serves on the Madrid Cemetery Board and is the Treasurer of the Scotch Presbyterian Church Session. CHRISTOPHER CEBULA, CPA, Honeoye Falls, NY, was appointed as an outside director in 2025. His current term expires in 2029. He serves on the Business Risk Committee. Chris is the president of Armbruster Capital Management, Inc., a registered investment advisory firm in Pittsford, N.Y., where he works with clients on wealth management and financial planning. Previously, he was manager of assurance and business advisory services at EFP Rotenberg, LLP. Chris has served in multiple board roles, including as chair and audit committee chair for Epilepsy PRALID, Inc. (EPI, Inc.). He is also a board member of Financial Executives International - FEI Rochester and has held board positions with Causewave Community Partners and BOA Editions, Ltd. Additionally, Chris is a member of the American Institute of Certified Public Accountants. JAMES V. CRANE, Exeter, Maine, was elected to the board in 2025. His current term expires in 2028. He serves on the Business Risk Committee. Jim is co-owner and manager of Crane Bros. Inc., growing 2,200 acres of grain corn and 1,750 acres of chipping potatoes throughout six Maine counties for Frito Lay Inc. Jim has served as town selectman for 24 years and assisted on the town budget committee. Additionally, he served as vice president of Maine Farm Bureau and on the board of the former Farm Family Insurance Co. DAVID F. FOLINO, Bristol, Vt., has served as a Farm Credit East director since 2022. His current term expires in 2026. He was formerly a director of Yankee Farm Credit, serving since 2018.

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He serves on the Audit and Governance/Stewardship committees. Dave founded Hillsboro Sugarworks in 1979, as a small hobby, which steadily grew. During 20 years in the publishing business, working primarily in marketing and management, Dave dreamed about becoming a full-time farmer. In 2002, Dave and his wife, Sue, pursued their goal and began to grow their large hobby into a good, tight business. Together, they expanded production and marketing, becoming one of the largest direct marketers of Maple syrup in central Vermont. LAURIE KEENE GRIFFEN, Schuylerville, NY, has served as director since 2011. Her current term expires in 2028. She has served as board chair, vice chair and Governance Committee Chair. She currently serves as chair of the Technology Committee and serves on the Executive/Compensation Committee. Laurie is co-owner/operator of Saratoga Sod Farm, Inc., a 600-acre turfgrass farm in Stillwater, New York, with her husband Steve. In addition to producing and selling high quality turfgrass products, Saratoga Sod also provides sod installation services, sales of seed and fertilizer products, and the Big Yellow Bag garden soil product to assist its customers across the Northeast. Saratoga Sod also grows roughly 500 acres of soybeans and corn as part of their crop rotation program. PHILIP J. “JAMIE” JONES, Shelton, Conn., has served as director since 2018. His current term expires in 2026. He serves on the Audit and Governance/Stewardship committees. Jamie is owner and founder of Jones Family Farms Winery, LLC, which he established in 2004. He is the sixth generation to work the land of the Jones Family Farms. He manages the business with his wife, Christiana, and his parents, Terry and Jean Jones. Jamie oversees a diverse agricultural and farm hospitality operation focused on harvest your own berries, vineyards, pumpkins and Christmas trees, along with a greenhouse operation. Jamie is also a member of the Farm Credit Council board of directors and the CoBank nominating committee. Outside of Farm Credit, he has served as Vice President of CT Farm Bureau, President of the CT Vineyard and Winery Association, and in numerous other ag organizations. He also serves on the Shelton Zoning Board of Appeals. BRETT D. KREHER, Clarence, NY, was elected director in 2023. His current term expires in 2027. He serves on the Business Risk and Technology committees. Brett is an owner of Kreher Family Farms (including related entities Wayne County Eggs, LLC and Newstead Ranch, Inc.), an egg production business raising approximately 2.5 million hens that produce conventional, cage-free, organic and pastured organic eggs. The business also has conventional and organic grain operations and produces and sells organic fertilizer. Brett is President of the Board of Directors of Cornell Cooperative Extension of Erie County, Chairman of the Erie County Agriculture and Farmland Protection Board, and serves on the Board of Erie County Farm Bureau and Town of Clarence Municipal Agriculture and Farmland Protection Plan Committee. JOSEPH “JAY” W. MCWATTERS, Hamburg, NY, was first appointed as an outside director in 2021. His current term expires in 2029. He is chair of the Audit Committee. Most recently, Jay was the executive accountant in-residence for the Wehle School of Business at Canisius College in Buffalo, NY, where he taught auditing

and accounting. Previously, he was an audit partner at Dopkins & Company, LLP and KPMG LLP for more than 35 years where he served multiple cooperative clients. Jay holds an MBA degree and is a certified public accountant. JAMES A. ROBBINS II, Searsmont, Maine, was elected director in 2019. His current term expires in 2027. He serves on the Audit and Executive/Compensation committees. James is president of Robbins Lumber, Inc. With his brother and sister, they operate a fully integrated log yard, sawmill, dry kilns and planer mill that produces Eastern White Pine and was established in 1881. Robbins Lumber owns and manages 27,000 acres of timberland and a distribution yard in Halifax N.S. Additionally, he is the manager of Georges River Energy, LLC, a biomass power plant that burns wood waste in order to produce 8.5 MW of electrical power and steam to dry lumber. DOUGLAS W. SHELMIDINE, Adams, NY, has served as director since 2012. His current term expires in 2028. He serves as chair of the Governance/Stewardship Committee. Doug owns Sheland Farms, LLC, which is a multi-generational family farm business run in partnership with his brother, Todd, and sons, Devon and Erik. The family farms 3,000 acres and milks 920 cows. They also operate Sheland Farms Services, doing field work for other farms. Doug is also a member of Shel Land Properties, LLC and Shel Land Properties 2 LLC. Doug is the Town of Ellisburg Supervisor since 2020. KYLE THYGESEN, Tunbridge, Vt., has served as a Farm Credit East director since 2022. His current term expires in 2026. He was formerly a director of Yankee Farm Credit, serving since 2017. He serves as chair of the Business Risk Committee and serves on the Executive/Compensation Committee. Kyle is a managing member of the Farmstead at Falls Hill, LLC, which is home to a diversified hay and purebred dairy cattle marketing business, as well as ag entertainment. Kyle additionally provides fractional leadership in a consulting capacity in the consumer packaged goods space. He has worked with international companies, cooperatives and a publicly traded company, converting milk into value-added products.

still serves on the Gloucester County Board of Agriculture. He also served as Gloucester County’s director for the New Jersey Farm Bureau and currently sits on the New Jersey State Board of Agriculture and the Gloucester County Agriculture Development Board. AMY L. WALKER-BAILEY, Fort Ann, NY, was elected to the board in 2023. Her current term expires in 2027. She serves on the Business Risk Committee. Amy is chief ﬁnancial ofﬁcer of her family’s three businesses: Walker Farms, LLC, a 1,600-cow family dairy operation with 2,700 crop acres of hay and corn; MGK Enterprises, LLC, a contract hauling trucking company; and Walker’s Farm, Home & Tack, a retail farm store. TERRY R. ZITTEL, Eden, NY, was first elected to the board in 2018. Her current term expires in 2026. She serves on the Governance/ Stewardship and Technology committees. Terry is corporate secretary and business manager of Amos Zittel & Sons, Inc., a wholesale vegetable and flower business. Zittel’s grows 400 acres of hand harvested fresh market vegetables. Indoor production includes rooted liners/young plants shipped nationally and a finished spring flower crop sold in New York and Pennsylvania. Terry is business manager of Croop’s Mill Properties, LLC and BD & K Landholdings, LLC, in addition to being on the board of directors of Eden Community Foundation and Harvest Malawi, an irrigation/education project in Africa.

PETER H. TRIANDAFILLOU, Old Town, Maine, was appointed as the customer appointed forestry expert in 2016. His current term expires in 2030. He serves on the Technology Committee. Peter retired as Vice President of woodlands for Huber Resources Corp., a timber management firm managing 980,000 acres in six states. Peter is also past president and current treasurer of the Maine Forest Products Council, member of the Empire State Forest Products Council and past president and past board member of the North Maine Woods Corporation. Previously, he served on the Farm Credit Council Board. JOEL VIERECK, Woolwich, NJ, was elected to the board in 2025. His current term expires in 2029. He serves on the Governance/ Stewardship Committee. Joel is the farm operations manager of Viereck Farms LLC, a fourth generation, diversified agricultural operation encompassing 800 acres, specializing in high-tunnel vineripe tomato production, alongside a broad mix of vegetables, fruits and grains. Along with his wife, Joel has developed a farm business focused on retail sales and value-added agriculture. Joel is a former president of the New Jersey Vegetable Growers Association and continues to serve as a director. He has served as vice president and Farm Credit East 2025 Annual Report

DIRECTOR COMPENSATION For the 2025-2026 director cycle, all board members receive an annual base retainer of $58,000 paid in equal quarterly installments. The chairs of the Business Risk and the Governance/Stewardship committees are paid $65,000, the Audit Committee Chair is paid $70,000, the Board Vice Chair is paid $67,000 and the Board Chair is paid $75,000, reflecting the unique responsibilities and significant additional time demands of these positions. In the event that a director agrees to serve on more than one committee, the Board Chair, in his/her sole discretion, may direct an additional retainer of no more than $4,000 be paid to such director. Directors are expected to prepare for and attend six regularly scheduled board meetings and all regularly scheduled board committee meetings of their assigned committee. Prior approval from the Board Chair is required for a director to be excused from attending these meetings. The annual retainer will be reduced by $5,000 for each unexcused absence. The retainer includes time spent for preparation and attendance at board and board committee meetings, attending the director’s local Spring Business Meeting, the director’s local Regional Advisory Committee (RAC) meeting(s), local customer appreciation meeting, the Association’s annual meeting, participation in up to two Premier Governance Series training sessions per year, attendance at the Farm Credit Council annual meeting (rotating schedule, every other year) and travel time to and from said meetings. Directors who are asked to serve on other boards to represent the Association or asked to participate in a special assignment may be paid an additional per diem of $500 a day but only with prior approval of the Board Chair. Total compensation paid to the directors as a group during 2025 was $1,002,500. Directors may elect to defer payment of all or part of their director compensation through a nonqualified deferred compensation plan. The following table presents the number of days served at board meetings and other official Farm Credit East activities, and compensation paid to each director for the year ended December 31, 2025. Number of Days Served1

Name of Director

2025 Board Committee

Board Meetings

Michael N. Brooks3

Governance/Stewardship

Christopher Cebula4

Business Risk

44,750

James V. Crane4

Business Risk

44,750

David Folino

Audit, Governance/Stewardship

62,750

Laurie K. Griffen

Executive/Compensation, Technology

64,000

Philip J. Jones

Audit, Governance/Stewardship

61,750

LouAnne F. King

Executive/Compensation, Technology

66,250

John P. Knopf

Executive/Compensation

78,750

Brett Kreher

Business Risk, Technology

62,750

Jay McWatters

Audit

72,500

James A. Robbins II

Audit, Executive/Compensation

58,750

Lisa P. Sellew3

Business Risk

14,000

Douglas W. Shelmidine

Governance/Stewardship

66,000

Kyle Thygesen

Business Risk, Executive/Compensation

64,500

Peter H. Triandafillou

Technology

58,750

Joel Viereck4

Governance/Stewardship

44,750

Amy Walker-Bailey

Business Risk

59,750

Terry R. Zittel

Governance/Stewardship, Technology

62,750

Other Official Duties

Total Compensation2 $

15,000

$ 1,002,500 The number of days served include travel time to and from meetings. All directors serve on board committees. The committee compensation paid was based on an annual base retainer paid in equal quarterly installments. 3 Term ended during year. 4 Term began during year. 5 This director represented Farm Credit East’s interest by serving on boards of other organizations important to the Association. Days of service related to these activities are included but compensation received from that organization (if any) is not included in this report. 1

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Farm Credit East policy regarding reimbursements for travel, subsistence and other related expenses provides for reimbursement of actual reasonable out of pocket expenses incurred while traveling on official Association business. Directors who use their own automobiles for Association business purposes will be reimbursed at a rate that has been established in accordance with IRS guidelines. The aggregate amount of reimbursement for travel, subsistence and other related expenses for all directors as a group was $440,479 for 2025, $338,776 and $312,869 for 2024 and 2023, respectively. A copy of the Association travel policy is available to stockholders upon request. TRANSACTIONS WITH DIRECTORS At December 31, 2025, the Association had loans outstanding with directors individually and to the business organizations of directors. All loans were in the ordinary course of business and remain on the same terms, including interest rates, amortization schedules and collateral as those prevailing at the time for comparable transactions with other persons and did not involve more than the normal risk collectability. Information regarding related party transactions is incorporated herein by reference from Note 12 of the consolidated financial statements included in this annual report to stockholders.

Farm Credit East 2025 Annual Report

FARM CREDIT EAST, ACA

SENIOR OFFICER DISCLOSURES Listed below are the CEO and senior ofﬁcers of Farm Credit East, ACA. Information is provided on their experience, as well as on any business for which they serve on the board of directors or act as a senior ofﬁcer and the primary business that the organization is engaged in. MICHAEL J. REYNOLDS has served as President and Chief Executive Officer since 1/1/2020. Prior to becoming CEO, he served as chief business officer where he provided executive leadership for credit and financial services operations. Mike joined Farm Credit in 1990. He serves as the chair of the board of Farm Credit Financial Partners (FPI), a service company owned by Farm Credit East and other ACAs. He is also active in other workgroups within the Farm Credit System, including the Farm Credit System’s Presidents Planning Committee, a national leadership group. Mike is a graduate of Hartwick College with a degree in management and accounting. DARIO G. AREZZO serves as Executive Vice President and Chief Financial Services Officer. He oversees Farm Credit East’s tax and accounting programs, business consulting, payroll and crop insurance business unit. Dario joined Farm Credit in 2012 and was a senior tax consultant before becoming retail financial services leader in 2023. He assumed his current role in 2024. Dario is also a significant contributor to Farm Credit’s Knowledge Exchange department on matters of policy as they relate to federal and state taxation. Dario holds a BS from Cornell University, J.D. from Albany Law School and a LLM from New York University. BRIANA S. BEEBE serves as Executive Vice President and Chief Operating Officer. She leads all of Farm Credit East’s operations and human resource functions, including benefits, recruiting, employee engagement, training, compensation and many other special projects. Briana joined Farm Credit in 2003 and served as loan officer in the Middleboro office before transitioning into human resources in 2010 and most recently to operations in 2023. She serves on the CoBank, ACB Retirement Trust Committee. She serves as director of the board of Farm Credit Financial Partners (FPI), a service company owned by Farm Credit East and other ACAs. She is a graduate of Cornell University with a degree in animal science/ag business. She is also a graduate of LEAD New York and Farm Credit’s Leadership Development Program. JANICE P. BITTER serves as Executive Vice President and Chief Communications Officer. She oversees the ACA’s communications, marketing, Knowledge Exchange, change enablement, learning and development, and public relations efforts. Jan began her Farm Credit career as a loan officer in 1982, later serving as branch manager and then regional manager. She assumed her current role in 2024. Jan is past president of the Farm Financial Standards Council, which promotes uniform financial reporting in agriculture. She served as treasurer of the New York Agricultural Land Trust and volunteers at the Northeast Dairy Challenge and other ag and community groups. Jan holds a BS in agricultural economics from Cornell University and an MBA from Syracuse University.

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ALENA C. GFELLER serves as Executive Vice President, General Counsel and Corporate Secretary. She leads the legal and compliance departments and serves as the standards of conduct officer. As head of the legal/compliance departments, she is charged with strategic executive leadership, ensuring legal and regulatory compliance, acting as liaison to the board of directors, supervision of outside counsel, providing support on complex and innovative loan issues and assisting with all facets of the Association’s legal and governance needs. She joined Farm Credit East in September 2016, having previously been a partner and member of the executive committee at Murtha Cullina, LLP. She is a graduate of Arizona State University and received her law degree from Widener University School of Law. ANDREW N. GRANT serves as Executive Vice President and Chief Financial Officer. He leads the financial, treasury, accounting, internal controls, and asset-liability management operations of the Association. He has been in his current role since 2006 and prior to this held various other positions since joining Farm Credit in 1995. Andrew serves on the CoBank, ACB Retirement Trust Committee, which oversees the defined benefit and defined contribution retirement plans for the Association and several other Farm Credit employers. He is a graduate of Husson University and holds both a BS in management accounting and a MS in business. RYAN S. HROBUCHAK serves as Executive Vice President and Chief Risk Officer. He is responsible for measuring and monitoring organizational risk and reports operational performance against the association’s risk appetite to management and the board. He also coordinates matters with the federal examiner, the Farm Credit Administration. Ryan joined Farm Credit in 2008, initially as a loan officer, and has served in several roles throughout his career. Ryan earned a bachelor’s degree in agricultural business from Morrisville State College and is a LEAD New York graduate. Ryan also maintains a certified fraud examiner designation. WILLIAM P. KOHLER serves as Executive Vice President and Chief Information Officer. He leads the technology team, which aims to build and maintain a strong IT organization that is structured to best support the business and drive customer satisfaction. Additional focus areas include AI and innovation, security, platform enhancements and new product development that will help the cooperative better serve employees and customers. He joined Farm Credit East in 2024 with more than 25 years of experience in technology leadership. Bill holds a BS from The King’s College. DANIEL A. NICHOLSON serves as Senior Vice President and Chief Audit Executive. He leads Farm Credit East’s quality assurance team which is inclusive of the internal audit and internal review teams. These teams are responsible for reviewing business processes and providing the Board’s Audit Committee and management with findings and recommendations to improve business operations. Prior to his current position, he was a senior airman in the United States Air Force Massachusetts Air National Guard and worked for PwC, most recently as an audit manager before transitioning to Farm Credit

East in 2019. He is a graduate of the University of Massachusetts and holds a BS in business administration in accounting. He is a licensed certified public accountant in the state of Connecticut and is also a licensed certified fraud examiner. DAVID H. PUGH serves as Executive Vice President and Chief Lending Officer. He provides strategic oversight and leadership to all lending and appraisal functions and their teams. Dave also coordinates relationships with strategic partners, including Farm Credit Leasing and AgDirect. Dave started with Farm Credit in 1986 as a loan officer and has served in several varied credit delivery and leadership roles. Most recently, he served as chief experience officer where he led Farm Credit East’s digital transformation. Dave holds an AAS in animal science from SUNY Morrisville and a BS in agricultural economics from Cornell University. He is also a graduate of LEAD New York, Class VIII.

Farm Credit East 2025 Annual Report

FARM CREDIT EAST, ACA

SENIOR OFFICERS COMPENSATION DISCUSSION AND ANALYSIS

OVERVIEW This section describes the compensation programs for Farm Credit East’s Chief Executive Officer (CEO) and other senior officers, as defined by FCA regulations (collectively, senior officers), as well as those programs for any highly compensated employees as defined by FCA regulations. This section also presents the compensation earned by the CEO, as well as aggregate compensation earned by our other senior officers and any highly compensated employees, for the years ended December 31, 2025, 2024, and 2023. The board of directors, through its Compensation Committee, has reviewed and discussed the Senior Officers Compensation Discussion and Analysis with management. Based on this review and discussion, the Compensation Committee recommended that the board of directors include the Senior Officers Compensation Discussion and Analysis in the Annual Report for the year ended December 31, 2025. COMPENSATION PHILOSOPHY AND OBJECTIVES Farm Credit East’s (the Association) compensation strategy is to attract and retain highly talented employees to fulfill our mission as the premier credit and financial services provider in the Northeast. The compensation philosophy seeks to achieve the appropriate balance among market-based salaries, benefits and variable incentive compensation designed to incent and reward both the current and long-term achievement of our business objectives and business financial plans. We believe this philosophy fosters a performanceoriented, results-based culture wherein compensation varies based on results achieved. COMPONENTS OF COMPENSATION PROGRAM Given the cooperative ownership structure of Farm Credit East, no equity or stock-based plans are used to compensate any employee, including senior officers. Senior officers’ compensation consists of four components – salary, short-term incentive plans, long-term incentive plan and retirement benefits – as described below. All employees participate in salary, the short-term incentive plan and retirement benefits, while senior officers and specified other key employees are also eligible to participate in the long-term incentive plan and bonus plan. In addition, the CEO is eligible for supplemental retirement benefits (SERP). SALARY Salaries are market based, as determined in consultation with an independent executive compensation consultant. The determination of market salaries consists of a comparison of salary levels to positions of similar scope at select peer group financial institutions, coupled with an evaluation of individual performance, competencies, and responsibilities. Salaries represent a foundational component of the Association’s total compensation program as the amounts of other components of compensation are determined in relation to base salary.

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SHORT-TERM INCENTIVES Short-term incentive payments are based on a combination of annual Association and individual performance. The plan focuses on achieving near-term, annual results. Under the terms of the plan, the key performance result areas are loan growth, financially related services income growth, customer experience and other strategic priorities. Substantially all employees in the Association are eligible to participate in this plan at various levels. Criteria used to determine amounts payable were established by the board of directors and include the achievement of certain Association financial targets and strategic business objectives. Payments are typically made in February following the end of the year to which the award is applicable. LONG-TERM INCENTIVES AND BONUS PLANS The Association has a long-term incentive plan for the CEO, senior officers and other specified key employees that provides the opportunity for financial rewards tied to Farm Credit East’s sustained success. Eligibility for participation is limited to those individuals who clearly have the ability to drive the success of strategies critical to long term value creation for stockholders. The plan payouts are based on Association performance in the achievement of key financial metrics over a three-year performance period. Under the terms of the plan, the key financial metrics are return on assets, operating efficiency and focus on various strategic priorities and human resource initiatives. The cash awards are to be paid subsequent to completion of the threeyear performance period cycle, subject to approval by the board of directors. Participants in the long-term incentive plan can elect to defer plan payments if the election is made before the start of the plan year. Participants forfeit those amounts if they resign prior to being paid. As part of the Association’s overall bonus and incentive plans, certain key employees may be selected by the CEO to receive additional bonuses tied to the execution of Farm Credit East’s strategic business initiatives. Awards under this plan will generally consist of an executive management measure. The cash awards are typically made in February following the end of the year to which the award is applicable. RETIREMENT BENEFITS The Association has employer-funded qualified defined benefit pension plans which are noncontributory and cover employees hired prior to January 1, 2007 (except the former Farm Credit of Maine & Yankee Farm Credit employees who all are participants in the noncontributory defined contribution plan). Benefits are determined by a formula based on years of service and eligible compensation. The Association also has a noncontributory, unfunded, nonqualified supplemental executive retirement plan (SERP) covering only the CEO. All employees are also eligible to participate in a 401(k) retirement savings plan, which includes a matching contribution by the Association. Employees hired on or after January 1, 2007, receive additional, non-elective employer contributions to the 401(k)

retirement savings plan. All retirement-eligible employees hired before January 1, 2013, including senior officers, are also currently eligible for other postretirement benefits, which primarily include access to health care benefits. Substantially all participants pay the full premiums associated with these other health care benefits. The Association also has a nonqualified deferred compensation plan that allows the CEO, senior officers, and other specified key employees to defer all or a portion of their long-term incentive compensation. In addition, certain senior officers are able to participate in a nonqualified supplemental savings plan enabling them to receive the full benefit, irrespective of IRS limitations, of the Association’s noncontributory defined contribution plan. The compensation that is deferred is invested in any number of investment alternatives selected by the participants. These alternatives are either identical or substantially similar to those available to all participants in the Association’s 401(k) plan. The participant is subject to all risks and returns of amounts invested. The election to defer is irrevocable and the deferred amounts cannot be paid except in accordance with specified elections as permitted by law. At that time, the participant will receive payment of the amounts credited to his or her account under the plan in a manner that has been specified by the participant. If a participant dies before the entire amount has been distributed, the undistributed portion will be paid to the participant’s beneficiary. CEO COMPENSATION The CEO’s compensation is benchmarked to a select peer group of financial institutions. The board hires an independent executive compensation consultant to help benchmark total compensation. This evaluation helps ensure that such compensation is competitive with positions of similar scope at similar financial institutions. The board’s Executive Compensation Committee reviews the performance of the CEO annually and reviews it with the board. The board of directors annually approves the CEO compensation level. In addition to the base salary, the CEO can earn both short-term or bonus incentives and a long-term incentive each year based on preestablished performance goals. The short-term incentive potential for 2025 ranged from 0% to 50% of base salary and are paid in February following the end of the year to which the award is applicable. The board may award the CEO additional bonuses tied to the execution of Farm Credit East’s strategic business initiatives at any point within the year. The long-term incentive plan provides the opportunity for financial rewards tied to Farm Credit East’s sustained success over a three-year performance period. The three-year performance metrics are established at the beginning of each three-year period by the board of directors in connection with the annual business and financial plan. The long-term incentives shown in the chart below are not funded nor held in trust but contractually obligates the Association to make future payments in specified amounts. The cash awards are to be paid subsequent to completion of the three-year performance period cycle. The 2025 long-term opportunity is up to 70% of base salary. Long term incentive plan payments can be deferred if the election is made before the start of the plan year. The CEO’s compensation in excess of the Internal Revenue Code is made up for via participation in a nonqualified deferred compensation plan. Contributions are made at the same percentages as available under the 401K plan. The nonqualified deferred compensation plan payment is shown in the Summary Compensation Table below.

As of December 31, 2025, the CEO is employed pursuant to an employment contract. The employment agreement provides specified compensation and related benefits in the event employment is terminated, except for termination with cause. The significant provisions of the agreement are that the CEO would be entitled to severance benefits of one year’s base salary plus any incentives earned in the year of termination. SENIOR OFFICER COMPENSATION The CEO is responsible for setting the compensation levels of the senior officers, who, in turn are responsible for the compensation of all other employees. Annually, the board’s Executive Compensation Committee reviews senior officer compensation policies, plans and overall compensation programs. The Association’s short-term incentive compensation plan features annual payments based on calendar year performance periods. The annual short-term incentive targets are set for all employees at the beginning of the year. For the 2025 performance period, the shortterm incentive plan levels for senior officers ranged from 10% to 50% of base salary. Individual performance is also considered in the determination of the amount payable. The short-term incentives shown in the Summary Compensation Table below are paid in February following the end of the year to which the award is applicable. In addition, senior officers can be awarded bonuses for performance related to special projects and execution of strategic initiatives. The Association’s long-term incentive plan provides senior officers and other specified key employees the opportunity for financial rewards tied to Farm Credit East’s sustained success over a threeyear performance period. The three-year performance metrics are established at the beginning of each three-year period by the board of directors in connection with the annual business and financial plan. For the 2025 plan performance period, the long-term plan incentive reward was up to 40% of base salary. The long-term incentives shown in the chart below are not funded nor held in trust but contractually obligates the Association to make future payments in specified amounts. The cash awards are to be paid subsequent to completion of the three-year performance period cycle. Participants in the long-term incentive plan can elect to defer plan payments if the election is made before the start of the plan year. SUMMARY COMPENSATION TABLE Compensation earned by the CEO and aggregate compensation of the senior officers for the years ended December 31, 2025, 2024 and 2023, respectively is disclosed in the accompanying table. The senior officers and highly compensated employees included below are those officers defined by FCA regulations section 619.9310 and Section 620.6. Current board policy regarding reimbursements for travel, subsistence and other related expenses provides that all employees, including senior officers, shall be reimbursed for actual reasonable travel and related expenses incurred while traveling on official Association business. Employees who use their own automobiles for Association business purposes will be reimbursed at a rate that has been established in accordance with IRS guidelines. The Association provides automobiles to exempt employees with credit or Associationwide management responsibilities. Association employees are allowed to use assigned cars for personal use. All miles, other than those driven Farm Credit East 2025 Annual Report

for business purposes, as defined by the IRS, are considered personal miles, and are accounted for as a taxable benefit to the employee. A copy of the Association travel policy is available to stockholders upon request. Summary Compensation Table Michael J. Reynolds, CEO Salary Short-term Incentive Long-term Incentive2 Change in Pension Value3 Deferred/Perquisites4/5 Total Senior Officers (excluding CEO)1 Salary Short-term Incentive Long-term Incentive2 Change in Pension Value3 Deferred/Perquisites4/5

2025

2024

2023

$ 739,538 730,000 510,534 1,160,457 137,900

$ 728,000 664,000 433,200 1,244,879 79,625

$ 700,000 550,000 355,000 1,597,536 80,056

$ 3,278,429

$ 3,149,704

$ 3,282,592

$ 2,400,084 1,004,646 664,443 599,057 504,729

$ 2,408,450 1,057,830 641,304 898,707 455,617

$ 2,238,253 790,242 539,316 901,881 305,789

Total $ 5,172,959 $ 5,461,908 $ 4,775,481 The number of senior officers reflected in this chart in 2025 was ten, including one who retired in 2025; twelve in 2024; and was nine in 2023 2 The long-term incentive reflects the amount awarded to these senior officers/highly compensated employees. The amounts are held as a general obligation of the Association and are subject to forfeiture. 3 Change in pension value represents the change in the vested portion of the present value of the accumulated benefit obligation from the prior fiscal year to the current fiscal year. The change in pension value is generally due to annual changes in compensation, years of service, age, and actuarial assumptions such as the discount rate 4 Represents company contributions to a 401(k)retirement savings plan and nonqualified deferred compensation plan, as well as payment of relocation expenses and associated tax impact; the taxable benefit of a company automobile for personal use, as determined by IRS regulations, annual leave, wellness benefits and company paid life insurance benefits. 5 In 2025, annual leave carryover was limited up to 40 hours with the balance paid out per policy. 1

Disclosure of information on the total compensation during the last fiscal year to any senior officer or any other employee included in the aggregate is available and will be disclosed to stockholders upon request in writing. PENSION BENEFITS The table below shows the present value of accumulated benefits payable as of December 31, 2025, to the CEO and aggregate for the senior officers by plan, including the number of years of credited service. The change in composition of the aggregate senior officers can have a significant impact on the calculation of the accumulated pension benefits.

Pension Benefits Table - 2025 Michael J. Reynolds, CEO CoBank, ACB Retirement Plan Supplemental Executive Retirement Plan Total Senior Officers (excluding CEO)1 CoBank, ACB Retirement Plan

Number of Years of Credited Service2

Present Value of Accumulated Benefits

36.33

$ 2,742,011

36.33

35.70

Total 1

Payments During Last Fiscal Year $

5,277,720

$ 8,019,731

$ 5,558,311

$ 2,986,147

$ 13,578,042

$ 2,986,147

The number of senior officers/highly compensated employees on December 31, 2025, and reflected in this chart was three Represents an average for the aggregate senior officer/highly compensated employee group reflected in this chart

FOCUSED ON SUPPORTING YOUR VISION

The CEO and senior officers hired prior to January 1, 2007, participate in the CoBank, ACB Retirement Plans (except the former Maine and Yankee employees and senior officers hired after January 1, 2007, who are participants in the noncontributory defined contribution plan only). One plan provides a monthly retirement benefit at Normal Retirement Age equal to 1.65% of the 4-year highest average pay multiplied by benefit service up to 35 years plus 1.00% of 4-year highest average pay multiplied by benefit service in excess of 35 years. Average annual pay includes pay that is subject to withholding of Federal taxes plus any amounts contributed under Section 401 (k). Another plan provides a monthly retirement at Normal Retirement Age equal to 1.5% of 60-month highest average pay, plus 0.25% of 60-month highest average pay in excess of Social Security Compensation multiplied by benefit service. Average annual pay includes base salary and non-deferred, short-term incentive annual bonus. The CEO also participates in the CoBank, ACB Farm Credit East Supplemental Executive Retirement Plan to provide benefits to a participant whose benefits in the Retirement Plan are subject to limitations under the Internal Revenue Code. Each plan provides for early retirement as early as age 55 and 5 years of service but with reductions in the Normal Retirement Benefit. One plan reductions are equal to 3% per year between age 60 and the senior officer’s Normal Retirement Age (NRA) and 5% per year between age 55 and age 60. Another plan’s reductions are equal to 3% per year between the age at retirement and the senior officer’s NRA. Each plan pays benefits in the form of a 5-year certain and life annuity. Optional forms of annuity payment are available on an actuarially equivalent basis. The calculations assume that a lump sum is elected by each participant for each plan. The present value of the accumulated benefits is based on assumptions and valuation dates that are the same as those used for the valuation of pension liabilities in the 2025 Annual Report. The present value of the accumulated benefits is calculated assuming retirement age to be the earlier of age at 95 points or NRA for Schedule 2 participants and NRA for Schedule 3 participants. The discount rate used is 5.45% as of December 31, 2025. The lump sum basis used for the valuation is 6.00% with the 2026 417(e) mortality table. The potential impact of 415 limits is reflected. TRANSACTIONS WITH SENIOR OFFICERS At December 31, 2025, there were no loans outstanding to a senior officer and there were loans outstanding to an immediate family member of two senior officers. All of the loans approved were in the ordinary course of business and remain on the same terms, including interest rates, amortization schedules and collateral as those prevailing at the time for comparable transactions with other persons and did not involve more than the normal risk of collectibility. Information regarding related party transactions is incorporated herein by reference from Note 12 of the consolidated financial statements included in this annual report to stockholders.

CODE OF ETHICS The Association sets high standards for honesty, ethics, integrity, impartiality and conduct. Each year, every employee certifies compliance with the Association’s Employee Standard of Conduct Policy which establishes the ethical standards of the Association. Additionally, all employees certify compliance with the Code of Ethics. The Code of Ethics supplements the Employee Standard of Conduct Policy and establishes additional responsibilities related to the preparation and distribution of the Association’s financial statements and related disclosures. For details about the Association’s Code of Ethics, visit FarmCreditEast.com/CodeofEthics. A copy of the Association’s Code of Ethics is available to stockholders upon request.

Farm Credit East 2025 Annual Report

FARM CREDIT EAST, ACA

DISCLOSURE INFORMATION REQUIRED BY REGULATIONS

In accordance with Farm Credit Administration regulations, Farm Credit East, ACA (the Association) has prepared this Annual Report to Stockholders for the year ended December 31, 2025, in accordance with all applicable statutory or regulatory requirements. Description of Business General information regarding the business is incorporated herein by reference to Note 1 of the financial statements included in this annual report to stockholders. The description of significant developments, if any, required to be disclosed in this section is incorporated herein by reference to “Management’s Discussion and Analysis of Financial Position and Results of Operations” included in this annual report to stockholders. Description of Property Farm Credit East, ACA is headquartered in Enfield, CT. A listing of Association offices is on the inside back cover of this annual report. All office locations listed are owned by Farm Credit East. Legal Proceedings and Enforcement Actions Information regarding legal proceedings is incorporated herein by reference to Note 13 of the consolidated financial statements included in this annual report to stockholders. The Association was not subject to any enforcement actions at December 31, 2025. Description of Capital Structure Information required to be disclosed in this section is incorporated herein by reference to Note 8 of the consolidated financial statements included in this annual report to stockholders. Description of Liabilities Information required to be disclosed in this section is incorporated herein by reference to Notes 7, 10, 11, 14, 15 and 16 of the consolidated financial statements included in this annual report to stockholders. Selected Financial Data “Five Year Summary of Selected Financial Data” included in this annual report to stockholders is incorporated herein by reference. Management’s Discussion and Analysis “Management’s Discussion and Analysis” included in this annual report to stockholders is incorporated herein by reference. Financial Statements The “Report of Management,” “Report of Audit Committee,” “Management’s Report on Internal Control over Financial Reporting,” “Report of Independent Auditors,” “Consolidated Financial Statements,” and “Notes to Consolidated Financial Statements,” included in this annual report to stockholders, is incorporated herein by reference.

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Directors and Senior Officers “Director Disclosures” and “Senior Officer Disclosures” included in this annual report to stockholders is incorporated herein by reference. Relationship with Independent Auditors There were no changes in independent auditors since the prior annual report to stockholders and there has been no material disagreement with our independent auditors on any matter of accounting principles or financial statement disclosure during this period. Credit and Services to Young, Beginning, Small and Veteran Farmers and Ranchers “Young, Beginning, Small and Veteran (YBSV) Farmers and Ranchers Program” included in this annual report to stockholders is incorporated herein by reference. Involvement in Certain Legal Proceedings There were no matters that came to the attention of the Board of Directors or management regarding involvement of current directors or senior officers in specified legal proceedings that require to be disclosed. Unincorporated Business Entities Information required to be disclosed in this section is incorporated herein by reference to Note 12 of the consolidated financial statements included in this annual report to stockholders. CoBank, ACB Annual Report and Quarterly Reports As an Association Stockholder, your equity investment in the Association is materially affected by the financial condition and results of operations of the CoBank, ACB (CoBank). Regulations require that CoBank’s Annual and Quarterly Reports be made available to you upon request at no charge. Accordingly, you may pick up a copy of CoBank’s Annual and Quarterly Reports at one of our offices or you may call the office to have a copy sent to you. A listing of the Association offices and telephone numbers are listed on the inside back cover of this annual report. Customer Privacy Customer financial privacy and the security of your other non-public information are important to us. Farm Credit East holds your financial and other non-public information in strictest confidence. Federal regulations allow disclosure of such information by us only in certain situations. Examples of these situations include law enforcement or legal proceedings or when such information is requested by a Farm Credit System institution with which you do business. In addition, as required by Federal laws targeting terrorism funding and money laundering activities, we collect information and take actions necessary to verify your identity.

FARM CREDIT EAST, ACA

YOUNG, BEGINNING, SMALL AND VETERAN (YBSV) FARMERS AND RANCHERS PROGRAM •

OVERVIEW Farm Credit East, ACA (the Association) takes great pride that its founding Board of Directors made young, beginning and small farmers a special focus of the Association since its founding in 1994. The board maintains a standing committee of directors to oversee young, beginning, small, and Gulf War-era II veteran farmer programs and initiatives, as well as planning how to further serve these groups. MISSION The Association’s board recognizes that the long-range strength and soundness of Farm Credit East and of the agricultural community depends on individuals entering the industry. It further recognizes that demands for capital and farm and financial management skills can make it difficult to become established in the business. Therefore, we believe that it is in the Association’s best interest to assist young, beginning, small and veteran farmers by providing loans and creditrelated services, and help to provide and encourage their participation in activities that improve farm and financial management skills.

o o o o o o

Young - A farmer, rancher, producer or harvester of aquatic products who is 35 years or younger as of the loan transaction date.

•

Beginning - A farmer, rancher, producer or harvester of aquatic products who has 10 years or less farming experience as of the loan transaction date.

•

Small - A farmer, rancher, producer or harvester of aquatic products who normally generates less than $350,000 in annual gross sales of agricultural or aquatic products. Veteran - Gulf War-era II veterans having served in U.S. Forces anywhere in the world at any time since September 2001.

Farm accounting and management software fees Tax preparation fees Consulting fees Appraisal fees FSA guaranteed loan fees Interest rate assistance

Farm Credit East’s special incentives were $485,574, $418,797 and $434,865 for the years ended December 31, 2025, 2024 and 2023, respectively. •

Since 2006, resources have been offered to organizations, schools and universities for special training and educational programs utilizing the Farm Credit East developed Harvesting a Profit guide.

•

Farm Credit East provides support, funding and staff involvement in programs such as FFA, the North American Intercollegiate Dairy Challenge and other programs at educational institutions.

PROGRAM DEFINITIONS The definitions of young, beginning, small and veteran farmers and ranchers is as follow: •

Special incentives that may be offered at a discount for a period of up to five years include:

•

Representation by YBS farmers on Farm Credit East’s Regional Advisory Committees. These committees provide • Since 2006, • Since resources 2006,have resources been offered have been organizations, offered to organizations, andschools universities and universities forto special for training special training customer feedback totothe board andschools function as a liaison and educational and educational programs utilizing programs theutilizing Farm Credit the Farm EastCredit developed East Harvesting developed Harvesting a Profit guide. a Profit guide. association management. • Farm Credit • Farm EastCredit provides Eastsupport, provides funding support, andfunding staff involvement and staff involvement in programsinsuch programs as FFA, such theasNorth FFA, the North American Intercollegiate American Intercollegiate Dairy and Challenge other programs and other educational at educational institutions.institutions. • A portion of Challenge the Dairy young, beginning andatprograms small loan portfolio

• Representation • Representation by YBS farmers by YBS on farmers Farm Credit on Farm East’s Credit Regional East’sAdvisory RegionalCommittees. Advisory Committees. These These is supported by government guarantees, including guarantees

committeescommittees provide customer providefeedback customertofeedback the boardtoand the function board and asfunction a liaisonas toaassociation liaison to association management. manageme

by the USDA’s Services Agency (FSA) guaranteed loan • A portion• ofA the portion young, of the beginning young, Farm and beginning small loan and portfolio small loanisportfolio supported is by supported government by government guarantees,guarantees,

program. below are statistics related to government including guarantees including guarantees by the Provided USDA’s by theFarm USDA’s Services Farm Agency Services (FSA) Agency guaranteed (FSA) guaranteed loan program. loanProvided program. Provide below are statistics below arerelated statistics to usage government relatedwithin to government guarantees guarantees usage within usage the YBS withinportfolio. the YBS portfolio. guarantees the YBS portfolio. GovernmentGovernment GuaranteedGuaranteed Young, Beginning Young,and Beginning and Small Farmer Loans Small Farmer Loans

Young Young Beginning Beginning Small Small * in thousands* in thousands

New Government YBS New Government GuaranteedGuaranteed YBS Loans (Originated in 2025) Loans (Originated in 2025)

Number

Number Volume *

Volume *

Number

294 306 299

294 $ 102,223 306 $ 96,576 299 $ 60,526

$ 102,223 $ 96,576 $ 60,526

29 36 22

Number Volume * 29 $ 36 $ 22 $

14,951 17,210 9,917

Volume * $ $ $

14,951 17,210 9,917

Farm Credit East works closely with the New YorkProgram State • Farm Credit • • Farm East Credit works East closely works with closely the New with York the New State York Linked State Deposit Linked Depositwhich Program reduces which thereduces th OBJECTIVES effective interest effective rateinterest paid onrate loans paid foronqualifying loanswhich for projects. qualifying Linked Deposit Program reducesprojects. the effective interest Young, beginning, small and veteran farmers are a vital part of agriculture • In 2025, • Farm In 2025, CreditFarm East’s Credit scholarship East’s scholarship program awarded program scholarships awarded scholarships to 40 students to 40 pursuing studentscourses pursuing cour rate paid on loans for qualifying projects. of study to agriculture, related to agriculture, forest products forestorproducts fishing. or fishing. and Farm Credit East is proud to provide innovative products and servicesof study related • Farm Credit • • Farm East Credit provides East a series provides of annual aEast’s seriesseminars of annualthat seminars focus on thatdeveloping focus on developing skill sets ofskill YBSsets of YBS In 2025, Farm Credit scholarship program awarded that contribute to their success. In 1995, the board created a committee farmers, including farmers,the including GenerationNext the GenerationNext seminar series seminar which series had 94 which participants had 94 participants in both in-person in bothand in-person a scholarships students pursuing courses of study to develop and oversee a program to assist young, beginning and small virtual formats virtual in the formats winter into of the40 2025-26. winter ofThe 2025-26. program The had program 97 participants had 97 participants inrelated 2024-25.in 2024-25. to agriculture, forest fishing. • regulatory Receiving authority regulatory inauthority late products 2005, in Farm late or 2005, Credit Farm EastCredit secured East a partner secured(CoBank, a partnerACB) (CoBank, and ACB) and farmers, regarding this as one of the core values of the Association. The• Receiving chartered FarmStart, chartered FarmStart, LLP (FarmStart). LLP (FarmStart). At December At 31, December 2025, Farm 31, 2025, CreditFarm EastCredit has anEast equity has an equity board was proud to expand their outreach to Gulf War-era II veterans in investment • investment Farm Credit East provides a series of annual seminars that in FarmStart in of FarmStart $1.5 million. of $1.5 FarmStart million. assists FarmStart beginning assists farmers beginning andfarmers new cooperatives and new cooperatives by 2013 and the National FFA Organization in 2015. providing investments providing investments ofdeveloping workingof capital working upsets to capital $75,000. up toAt$75,000. December Atincluding 31, December 2025, FarmStart 31, 2025, has FarmStart 67 has 67 focus on skill of YBS farmers, the investmentsinvestments with an outstanding with an outstanding balance of $2.6 balance million. of $2.6 Since million. inception, Since FarmStart inception, has FarmStart made 415 has made 415 GenerationNext seminar series which had 94 participants in investmentsinvestments totaling $20.4 totaling million. $20.4 million. SERVICES PROVIDED both in-person and virtual formats in the winter of 2025-26. There are several credit and other related services offered through Demographics Demographics The program had 97 participants in 2024-25. The local areaservice of the area Association of the Association includes theincludes states ofthe Connecticut, states of Connecticut, Maine, Massachusetts, Maine, Massachusetts, New New the board approved YBSV Program that allows the Association to The local service Hampshire,Hampshire, New Jersey,New NewJersey, York,New Rhode York, Island Rhode and Vermont. Island andDemographic Vermont. Demographic data for young, data for beginning young, beginnin effectively serve the needs within the young, beginning, small and and small farmers and small wasfarmers taken from was taken the USDA’s from the2022 USDA’s Census 2022 of Agriculture, Census of Agriculture, released in released 2024. The in census 2024. The is censu conducted every conducted five years. every five It showed years.the It showed following: the following: veteran customer segments: Percentage Percentage Levels in Farm Levels Credit in Farm East Credit Lending East Territory Lending Territory Expressed as Expressed a % of Total as aFarms % of Total Farms Young Young Beginning Beginning Small (under Small $250k) (under $250k) 13.5%

13.5%

35.1%

90.6% Farm Credit90.6% East 2025 Annual Report

Farm CreditFarm EastCredit periodically East periodically has undertaken has undertaken a study of the a study young, of the beginning, young, beginning, small farmer small segment. farmerThis segment. Th study makes study a determination makes a determination of Association of Association penetrationpenetration of young, beginning of young, and beginning small farmers and small utilizing farmers utilizing

farmers, including the GenerationNext seminar series which had on 94 developing participantsskill in both Farm Credit East provides a series of annual seminars that focus setsin-person of YBS and virtual in the of 2025-26.seminar The program had 97had participants in 2024-25. farmers,formats including thewinter GenerationNext series which 94 participants in both in-person and • Receiving regulatory late 2005, Credit secured a partner (CoBank, ACB) and virtual formats in the authority winter of in 2025-26. TheFarm program hadEast 97 participants in 2024-25. (FarmStart). At December 31, 2025, Farm Credit East(CoBank, has an equity • chartered ReceivingFarmStart, regulatory LLP authority in late 2005, Farm Credit East secured a partner ACB) and investment in FarmStart $1.5 million.AtFarmStart beginning farmersEast andhas newancooperatives by chartered FarmStart, LLPof(FarmStart). Decemberassists 31, 2025, Farm Credit equity providing ofof working capitalFarmStart up to $75,000. Decemberfarmers 31, 2025, has 67 by investmentinvestments in FarmStart $1.5 million. assistsAtbeginning andFarmStart new cooperatives investments with anauthority outstanding of million. Since FarmStart has providingregulatory investments of working capital up$2.6 to $75,000. At December 2025, ACB) FarmStart has415 67 FarmStart, LLP • Receiving in latebalance 2005, Farm Credit East secured ainception, partner 31, (CoBank, andmade chartered investments totaling $20.4 million. with an outstanding balance of $2.6 million. Since inception, FarmStart has made 415 (FarmStart). At December 31, 2025, Farm Credit East has an equity investment in FarmStart of $1.5 million. FarmStart assists beginning investments totaling $20.4 by million. farmers and new cooperatives providing investments of working capital up to $75,000. At December 31, 2025, FarmStart has 67 Demographics investments with an outstanding balance of $2.6 million.Since inception, FarmStart has made 415 investments totaling $20.4 million. The local service area of the Association includes the states of Connecticut, Maine, Massachusetts, New Demographics Hampshire, New Jersey, York, Rhode Island the andstates Vermont. Demographic data Massachusetts, for young, beginning The local service area of New the Association includes of Connecticut, Maine, New DEMOGRAPHICS and small farmers was taken from theRhode USDA’s 2022 Census of Agriculture, released in young, 2024. The census is Hampshire, New Jersey, New York, Island and Vermont. Demographic data for beginning The local service area of the Association includes the states of Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, conducted every five showed the following: and small farmers wasyears. takenItfrom the USDA’s 2022 Census of Agriculture, released in 2024. The census is Rhode Island and Vermont. Demographic data for young, beginning and small farmers was taken from the USDA’s 2022 Census of Agriculture, conducted every five years. It showed the following: released in 2024. The census is conducted every five years. It showed the following: •

Percentage Levels in Farm Credit East Lending Territory as a Credit % of Total Percentage Expressed Levels in Farm EastFarms Lending Territory Young Small (under $250k) ExpressedBeginning as a % of Total Farms Young 13.5%

Beginning 35.1%

Small (under $250k) 90.6%

13.5%

35.1%

90.6%

Farm Credit East periodically has undertaken a study of the young, beginning, small farmer segment. This study makes a periodically determination ofhas Association penetration and small farmers utilizing FarmCredit Credit East periodically undertaken aofstudy of of theyoung, young,beginning beginning, small farmer segment. Thisa determination of Farm East has undertaken a study the young, beginning, small farmer segment. This study makes information reported in young, the 2022 Censusand of small Agriculture ascertain Farm East’s of study makes a determination ofbeginning Association penetration of better young, beginning andCredit small farmers utilizing Association penetration of farmers to utilizing information reported in the 2022penetration Census of Agriculture to better these market segments. following table showssegments. FarmtoCredit East’s percentage inFarm each market segment information in The the 2022 Census ofmarket Agriculture better ascertain Farm Credit East’s penetration of in each market ascertain Farm reported Credit East’s penetration of these The following table shows Credit East’s percentage compared to the overall portfolio: these market segments. The following segment compared to the overall portfolio: table shows Farm Credit East’s percentage in each market segment compared to the overall portfolio: Penetration Levels in Farm Credit East Loan Portfolio December 31, 2025 Penetration Levels in Farm Credit East Loan Portfolio

Farm Credit East penetration is determined based on the number of loans to a specified group as a December 31, 2025 Young Beginning Small percentage of total loans. Young Beginning Small Farm is Farm Credit Credit East penetration penetration40% is determined determined based based on on the the number number of of loans loans to to aa specified specified group group as as aa 26% East 49% percentage of total loans. percentage of total loans. 40% Farmer Volume49% Young, 26% Beginning and Small in Farm Credit East’s Loan Portfolio Farmfollowing Credit Easttable penetration is determined basedofonyoung the number of loans tofarmer a specified as a loans percentage total loans. The outlines the percentage and beginning andgroup rancher in theofloan Young, and Small Volume in Farm Credit Loan Portfolio Young, Beginning Beginning andvolume) Small Farmer Farmer Volume31, in2025, Farmcompared Credit East’s East’s Loan Portfolio portfolio (by number and as of December to total number of loans in the The table percentage of beginning farmer and loans in The following following table outlines outlines the percentage of young young and andIN beginning farmerEAST’S and rancher rancher loans in the the loan loan YOUNG, BEGINNING ANDthe SMALL FARMER VOLUME FARM CREDIT LOAN PORTFOLIO portfolio: portfolio (by number and volume) as of December 31, 2025, compared to total number of loans in portfolio (bytable number andthe volume) as ofofDecember 2025, farmer compared to totalloans number ofloan loans in the the (by number and volume) as of The following outlines percentage young and 31, beginning and rancher in the portfolio Number % of Total Volume % of Total portfolio: portfolio:31, 2025, compared to total December number of loans in the portfolio: Category of Loans Loans Outstanding * Volume Number % of % of Total loans and commitments 24,473 $Volume 16,490 Number %100% of Total Total Volume %100% of Total Total Category of Loans Loans Outstanding Volume Young Farmers and Ranchers 26% $ 2,226 ** 13% Category of 6,405 Loans Loans Outstanding Volume Beginning and Ranchers 9,858 40% $$$ 16,490 2,964 18% Total and 24,473 100% 100% Total loans loansFarmers and commitments commitments 24,473 100% 16,490 100% Farmers 6,405 26% $$ 2,226 13% * inYoung thousands Young Farmers and and Ranchers Ranchers 6,405 26% 2,226 13% Beginning 9,858 40% $$ 2,964 18% Beginning Farmers Farmers and and Ranchers Ranchers 9,858 40% 2,964 18% ** in in thousands thousands The following table provides a breakdown of small farmer and rancher loans by size as of year-end 2025:

The following table provides aa breakdown of small loans by size of $0 -and $50,000 $100,000 - year-end Thefollowing following table provides breakdown of farmer small farmer farmer and rancher rancher loans byyear-end size as as 2025: of year-end 2025: 2025: The table provides a breakdown of small and rancher loans by size asof

Number / Volume Outstanding Total # of loans and commitments Number // Volume Outstanding Number Volume Outstanding Total # of loans to Small Farmers / Ranchers Total Total ## of of loans loans and and commitments commitments # of Small loans as a % of total # of loans Total ## of to // Ranchers Totalloans of loans loans to Small Small Farmers Farmers Ranchers Total and commitments outstanding* ## of Small loans as a % of total # of loans of Small loans a % of total to # of loansFarmers / Ranchers * Total volume and as commitments Small Total loans and commitments outstanding* Total loans and commitments outstanding* Loan volume to Small Farmers / Ranchers as a % of total loan Total volume Total volume volume and and commitments commitments to to Small Small Farmers Farmers // Ranchers Ranchers ** Loan volume * in thousands Loan volume to to Small Small Farmers Farmers // Ranchers Ranchers as as aa % % of of total total loan loan volume volume ** in in thousands thousands Goals and Results

$50,000 $0 $0 -- 4,757 $50,000 $50,000 2,922 4,757 4,757 61% 2,922 2,922 $ 145,166 61% 61% $ 90,943 $$ 145,166 145,166 $$ 90,943 63% 90,943

$100,000 $50,000 4,653-$50,000 $100,000 $100,000 2,837 4,653 4,653 61% 2,837 2,837 $ 371,562 61% 61% $ 223,645 $$ 371,562 371,562 $$ 223,645 60% 223,645

$250,000 $100,000 6,845-$100,000 $250,000 $250,000 3,840 6,845 6,845 56% 3,840 3,840 $ 1,170,462 56% 56% $ 637,790 $$ 1,170,462 1,170,462 $$ 637,790 54% 637,790

>$250,000 8,218 >$250,000 >$250,000 2,489 8,218 8,218 30% 2,489 2,489 $ 14,802,988 30% 30% $ 1,265,032 $$ 14,802,988 14,802,988 $$ 1,265,032 9% 1,265,032

63% 63%

60% 60%

54% 54%

9% 9%

As part of Farm Credit East’s planning process, annual quantitative and qualitative goals are established. GOALS AND RESULTS Goals and Goals andResults Results The numbers below represent the loans to customers who qualify as young,goals beginning or small, ornumbers more below represent the loans As part of Farm Credit East’s planning process, annual quantitative and qualitative are established. The As Credit East’s As part part of Farm Credit East’s planning planning process, process, annual annual quantitative quantitative and and qualitative qualitative goals goals are are established. established. than oneof ofFarm those criteria. to customers who qualify as young, beginning or small, or more than one of those criteria. The The numbers numbers below below represent represent the the loans loans to to customers customers who who qualify qualify as as young, young, beginning beginning or or small, small, or or more more than one of those criteria. Young, Beginning or Small Number than one of those criteria. Customers

of Loans

12/31/2025 Goal 14,000 Young, or Number Young, Beginning Beginning or Small Small Number 12/31/2025 Actual 14,049 Customers of Loans Customers of Loans 12/31/2026 Goal 14,400 12/31/2025 Goal 14,000 12/31/2025 Goal 14,000 12/31/2027 Goal 14,850 12/31/2025 14,049 12/31/2025 Actual Actual 14,049 12/31/2028 Goal 15,300 12/31/2026 14,400 12/31/2026 Goal Goal 14,400 12/31/2027 14,850 12/31/2027 Goal Goal 14,850 12/31/2028 Goal 15,300 any investments made under FarmStart, LLP. The12/31/2028 numbersGoal listed above do not 15,300 include

The numbers listed above do not include any investments made under FarmStart, LLP. 65

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The listed above do include made under LLP. The numbers numbers listed above do not not include any any investments investments made under FarmStart, FarmStart, LLP.services and Farm Credit East YBSV 2026 qualitative goals address credit, collaboration, financial educational assistance, to include:

Farm Credit East YBSV 2026 qualitative goals address credit, collaboration, financial services and educational assistance, to include: •

Continue incentive programs including interest rate reductions, payment of FSA guarantee fees and fee reductions on financial services in order to facilitate the entry of new farmers while deepening their financial management skills and to make Farm Credit their service provider of choice.

•

Provide scholarships for students pursuing a career in agriculture and FFA Supervised Agricultural Experience (SAE) projects and continue the Farm Credit East Agricultural Leadership and Excellence Program supporting leadership and development opportunities for customers.

•

Provide scholarships and program support for secondary agricultural education teachers through Farm Credit East’s partnership with the Curriculum for Agricultural Science Education (CASE) and continue to partner with CASE on a refresh of the agricultural business foundations course which Farm Credit East funded.

•

Support funding, staff involvement and direct training resources for programs hosted by universities and other organizations.

•

Allow for “licensing arrangements” with organizations such as Cornell’s Small Farms Program and also its Beginning Farmer Program for use of Farm Credit East’s Harvesting a Profit program focused on developing beginning farmers’ skills.

•

Actively support federal and state programs and related efforts when their objectives and execution are aligned with the Farm Credit mission, such as programs that provide financial incentives to YBSV borrowers or offer grant funding.

•

Local grassroots involvement by local staff in organizations such as FFA, 4-H, young farmers associations, state Agri-Women chapters, etc. Seek additional representation by YBSV farmers on Association Regional Advisory Committees.

•

Work closely with veterans’ groups within the LSA such as the New York chapter of the Farmer Veteran Coalition.

•

Both print and digital advertisements targeted toward YBSV farmers. We also utilize the Association’s Today’s Harvest blog to disseminate information on topics such as financial management and grant programs that might be of interest to YBSV producers.

•

Farm Credit East will continue to administer the Farm Credit Northeast AgEnhancement Program, which considers applications for funding for projects that support both agricultural groups and educating the non-farm public on Northeast agriculture. Funding is also available for young, beginning and small farm programming, such as regional conferences and beginning farmer education that can enhance the viability of Northeast agriculture or provide new opportunities for startup agricultural businesses.

•

Through AgEnhancement and other types of financial support and outreach efforts, use YBSV programs as part of Farm Credit East’s efforts to promote diversity and inclusion in agriculture. Farm Credit East 2025 Annual Report

FARM CREDIT EAST, ACA

REGIONAL ADVISORY COMMITTEE MEMBERS In 2025, the Farm Credit East Board of Directors combined the former Customer Service Councils (CSCs) to establish seven Regional Advisory Committees (RAC) to provide continued invaluable feedback. The RACs are comprised of a cross section of stockholders who meet two times annually with local Farm Credit East leadership. This is in keeping with Farm Credit East’s strategic vision of retaining a strong grassroots network and maintaining a strong local presence throughout its territory. The board and management sincerely appreciate the contribution of the RAC members listed below and look forward to their continued feedback and input. CENTRAL REGION Mark Akins, Lisbon, NY Ryan Akins, Lisbon, NY Eric Behling, Mexico, NY Jonathan Beller, Carthage, NY Deborah Biondolillo, Calcium, NY Andrew Brice, Dekalb Junction, NY Daniel Chambers, Heuvelton, NY David Curtin, Cassville, NY David Fralick, Cape Vincent, NY Christopher Fredericks, Little Falls, NY Blake Gendebien, Ogdensburg, NY Lukas George, Whitesboro, NY Patricia Gilbert, Potsdam, NY Christopher Hoefele, Fonda, NY Ryan Kelly, Fultonville, NY Darren Laurie, Nicholville, NY Shari Lighthall, Croghan, NY Natalie McKnight, Chase Mills, NY H. William Michaels, Fly Creek, NY Michael Murphy, Malone, NY Lynn Murray, Copenhagen, NY Ronald Robbins, Sackets Harbor, NY David Rudd, Lacona, NY Lisa Rutte, Morris, NY Colm Ryan, Hobart, NY Patrick Smith, Canton, NY COASTAL REGION Dawn Allen, Rochester, MA Karl Auwaerter, Blue Point, NY John Bartlett, Nantucket, MA Stephen Basile, Granby, CT Marjorie Beaton-Kane, Lakeville, MA Louis Caracciolo, Laurel, NY John Casertano, Cheshire, CT Eddy Creces, Sands Point, NY John Eidson, Wakefield, RI Bowman Geer, Griswold, CT Adam Halsey, Water Mill, NY Scott Hannula, Carver, MA Edward Harbes, Mattituck, NY Samuel Hull, Union, CT Eve Kaplan-Walbrecht, Aquebogue, NY Edward Kasheta, South Windsor, CT Cristina Kawasaki-Sheehan, East Moriches, NY Norman Keil, Saint James, NY Cathryn Kennedy, North Smithfield, RI Roland Leclerc, Belchertown, MA 67

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William Lee, Cutchogue, NY Kurt Lindeland, West Suffield, CT Anthony Moschini, Spencer, MA Robert Nolan, Patchogue, NY John Nunes, Middletown, RI Donald Patterson, Sunderland, MA Lisa Preger, South Glastonbury, CT Ellen Puccetti, North Smithfield, RI Karen Randall, Ludlow, MA Nicole Schwab, Southampton, MA James Smith, Lebanon, CT William Stearns IV, Carver, MA Ryan Van Wilgen, North Branford, CT FINGER LAKES REGION Kimberly Aliperti, Geneva, NY Barbara Bauman, Webster, NY Karl Bitz, Skaneateles, NY Catherine Blackler, Skaneateles, NY Thomas Coen, Ontario, NY Matthew Doyle, Hammondsport, NY John Gates, Burdett, NY Lee Hudson, Camillus, NY John Knopf, Canandaigua, NY John Mueller, Clifton Springs, NY Robert Norris, Savannah, NY Joel Riehlman, Tully, NY Adam Young, Union Springs, NY MOUNTAIN REGION Amanda Andrews, Barre, VT Britney Cyr, New Haven, VT Alyson Eastman, Orwell, VT David Folino, Bristol, VT Paul Gingue, Waterford, VT Laurie Griffen, Saratoga Springs, NY Charles Hanehan, Saratoga Springs, NY Todd Hardie, Greensboro Bend, VT John Hoogeveen, Stillwater, NY David Horn, Greenwich, NY Wayne Hurtubuise, Richford, VT Samuel Lincoln, Randolph, VT Joshua Lucas, Orwell, VT Matthew Marrazzo, Plainfield, NH Emma Marvin, Morrisville, VT Elizabeth McNamara, Plainfield, NH Aissa Murray, Ballston Lake, NY Ian Murray, Ballston Spa, NY Shane Nolan, Cambridge, NY

William Nop, Salisbury, VT Jacques Parent, Swanton, VT Willard Peck, Schuylerville, NY Sean Quinn, Schaghticoke, NY Jon Ramsay, Hardwick, VT John Sprague, Brookfield, VT William Suhr, Shoreham, VT Kyle Thygesen, Tunbridge, VT Amy Walker Bailey, Fort Ann, NY Stephen Wheeler, Derby, VT NORTHERN REGION Duncan Barker, Leeds, ME Ross Belanger, Lewiston, ME Libby Bleakney, Cornish, ME Nicholas Brunet, Auburn, NH Barry Buck, Mapleton, ME Ross Burgess, New Gloucester, ME Bret Butler, Caswell, ME Benjamin Carlisle, Bangor, ME Peter Carrier, Skowhegan, ME Benjamin Corey, Monticello, ME James Crane, Exeter, ME Kathleen Donald, Brentwood, NH Jacob Dyer, Monticello, ME Thomas Estabrook, Yarmouth, ME Joel Gilbert, Livermore, ME Joseph Golter, Greenland, NH Matthew Griffeth, Limestone, ME Jamison Hagan, Houlton, ME Leigh Hardy, Hollis, NH Jonathan Huntington, Loudon, NH Robert Johnson, Pittsfield, NH LouAnne King, Waddington, NY Jay LaJoie, Van Buren, ME Robert Linkletter, Athens, ME Matthew Manson, Minot, ME Nick McCrum, Washburn, ME Logan McLaughlin, Mars Hill, ME Steve Ouellette, Fort Kent Mills, ME Jacob Pierson, Biddeford, ME Charles Rackley, Bowdoinham, ME James Robbins, Searsmont, ME James Robertson, Contoocook, NH Douglas Shelmidine, Adams, NY Daniel Skehan, Newton, MA Emily Sliviak, Temple, NH Emily Smith, Westfield, ME H. Michael Smolak, North Andover, MA Brian Souers, Lincoln, ME Peter Triandafillou, Orono, ME R. Stewart Yeaton, Epsom, NH SOUTHERN REGION Kurt Alstede, Chester, NJ Lisa Applegate, Freehold, NJ Stephen Barlow, Sea Girt, NJ David Becker, Rensselaer, NY Ulderic Boisvert, Albany, NY

David Brill, New Vernon, NJ Michael Brooks, Elmer, NJ James Brown, Woodstown, NJ Wisner Buckbee, Jr., Warwick, NY Richard Byma, Sussex, NJ Cassandra Chittenden, Schodack Landing, NY Steven Clarke, Milton, NY John Coombs, Elmer, NJ Scott Daum, Jackson, NJ Douglas Davenport, Kingston, NY Gregory DeBuck, Pine Island, NY Byron DuBois, Pittsgrove, NJ James Elliot, Middletown, NJ Ronald Fisher, Hammonton, NJ Benjamin Freund, East Canaan, CT Steven Gambino, Phillipsburg, NJ Robert Graves, Schenectady, NY Bruce Gresczyk, Torrington, CT Jason Grizzanti, Warwick, NY Panagis Hionis, Green Brook, NJ Philip Jones, Shelton, CT John Kelder, Accord, NY Richard Klevze, Ringoes, NJ Charles Lain, Westtown, NY John Lupinski, Goshen, NY Jared McCool, Bethlehem, CT George Motel, Goshen, CT Edward Overdevest, Bridgeton, NJ Michael Prol, Franklin Township, NJ Michael Puglisi, Howell, NJ Dale Riggs, Stephentown, NY Anthony Russo IV, Tabernacle, NJ Jacob Samascott, Kinderhook, NY Eric Sheffer, Hoosick Falls, NY Thomas Sheppard, Cedarville, NJ Patricia Southway, Otisville, NY Philip Trowbridge, Ghent, NY Lloyd Vaill, Pine Plains, NY Joel Viereck, Swedesboro, NJ Emily Watson, Poughkeepsie, NY WESTERN REGION Nathan Blesy, Springville, NY Robert Brown, Waterport, NY Jonathan Burns, Hornell, NY Jill Gould, Pavilion, NY Thomas Jeffres, Wyoming, NY Bailey Jordan, Portland, NY Brett Kreher, Clarence, NY Darleen Krisher-Meehan, Andover, NY Matthew Lamb, Oakfield, NY Brad Macauley, Geneseo, NY Andrew Merry, Arkport, NY Andrew Milleville, Lockport, NY Jamie Place, Canisteo, NY Abram Rak, Fredonia, NY Maxwell Russell, Appleton, NY Daniel Schumacher, Wayland, NY Jason Schwab, Delevan, NY Farm Credit East 2025 Annual Report

Samuel Sheehy, North Collins, NY Shane Slayton, Hornell, NY Jason Swede, Piffard, NY David Votypka, Wayland, NY Douglas Walker, Wayland, NY John Wallace, Cohocton, NY Kyle Weaver, Bath, NY Gregory White, Clymer, NY Terry Zittel, Eden, NY

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Farm Credit East 2025 Annual Report

SENIOR OFFICERS Michael J. Reynolds ................................................................................................................. President and Chief Executive Officer Dario G. Arezzo . ............................................................................... Executive Vice President and Chief Financial Services Officer Briana S. Beebe................................................................................................ Executive Vice President and Chief Operating Officer Janice P. Bitter ................................................................................... Executive Vice President and Chief Communications Officer Alena C. Gfeller . .................................................................... Executive Vice President, General Counsel and Corporate Secretary Andrew N. Grant . ........................................................................................... Executive Vice President and Chief Financial Officer Ryan S. Hrobuchak..................................................................................................Executive Vice President and Chief Risk Officer William P. Kohler.........................................................................................Executive Vice President and Chief Information Officer Daniel A. Nicholson .............................................................................................. Senior Vice President and Chief Audit Executive David H. Pugh................................................................................................... Executive Vice President and Chief Lending Officer BOARD OF DIRECTORS John P. Knopf, Chair.............................. Elected.............................................Dairy.................................................Canandaigua, NY LouAnne F. King, Vice Chair................ Elected.............................................Dairy ......................................................... Madrid, NY Christopher Cebula................................ Appointed.......................................At Large.......................................... Honeoye Falls, NY James V. Crane........................................ Elected.............................................Potato..........................................................Exeter, ME David F. Folino........................................ Elected.............................................Maple Syrup......................................... Starksboro, VT Laurie K. Griffen..................................... Elected.............................................Sod.......................................................... Stillwater, NY Philip J. Jones.......................................... Elected.............................................Ag Retail....................................................Shelton, CT Brett D. Kreher........................................ Elected.............................................Poultry & Eggs........................................ Clarence, NY Joseph W. McWatters.............................. Appointed.......................................At Large................................................. Hamburg, NY James A. Robbins II................................ Elected.............................................Forestry.................................................Searsmont, ME Douglas W. Shelmidine........................... Elected.............................................Dairy........................................................... Adams, NY Kyle Thygesen......................................... Elected.............................................Dairy.....................................................Tunbridge, VT Peter H. Triandafillou............................. Appointed.......................................Customer................................................... Orono, ME Joel R. Viereck......................................... Elected.............................................Vegetable.................................................Woolwich, NJ Amy L. Walker-Bailey............................. Elected.............................................Dairy....................................................... Fort Ann, NY Terry R. Zittel.......................................... Elected.............................................Vegetables...................................................... Eden, NY

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Auburn, ME

615 Minot Avenue Auburn, ME 04210-4052 800.831.4230 / 207.784.0193 Credit: Shannon Webber Financial Services: Josh Volta

Batavia, NY

4363 Federal Drive Batavia, NY 14020-4105 800.929.1350 / 585.815.1900 Credit: Patrick Coates Financial Services: Malik Davis

Bedford, NH

2 Constitution Drive Bedford, NH 03110-6010 800.825.3252 / 603.472.3554 Credit: Shannon Webber Financial Services: Josh Volta

Bridgeton, NJ

29 Landis Avenue Bridgeton, NJ 08302-4396 800.219.9179 / 856.451.0933 Credit: Stephen Makarevich Financial Services: Tim Slavin

Burrville, NY

25417 NY Route 12 Watertown, NY 13601-5730 800.626.3276 / 315.782.6050 Credit: Ted Black Financial Services: Austin Weaver

Claverack, NY

190 State Route 9H Hudson, NY 12534-3819 800.362.4404 / 518.851.3313 Credit: Stephen Makarevich Financial Services: Tim Slavin

Cooperstown, NY

Derby, VT

250 Commerce Way Newport, VT 05855 (Mailing) Derby (Physical), VT 05829 800.370.2738 / 802.334.8050 Credit: Kristi Wood Financial Services: Emilee English

Enfield, CT

240 South Road Enfield, CT 06082-4451 800.562.2235 / 860.741.4380 Credit: Cynthia Stiglitz Financial Services: Michele Murray

Flemington, NJ

9 County Road 618 Lebanon, NJ 08833-3028 800.787.3276 / 908.782.5215 Credit: Stephen Makarevich Financial Services: Tim Slavin

Geneva, NY

1450 Route 14 Phelps, NY 14532-9542 800.929.7102 / 315.781.7100 Credit: Stephen Tudhope Financial Services: Gregg McConnell

Greenwich, NY

394 State Route 29 Greenwich, NY 12834-2650 800.234.0269 / 518.692.0269 Credit: Kristi Wood Financial Services: Emilee English

Mayville, NY

Riverhead, NY

Middleboro, MA

St. Albans, VT

Middlebury, VT

White River Junction, VT

28 E. Chautauqua Street Mayville, NY 14757-0163 800.929.2144 / 716.451.1063 Credit: Patrick Coates Financial Services: Beth Cummings

67 Bedford Street Middleboro, MA 02346 800.946.0506 / 508.946.4455 Credit: Cynthia Stiglitz Financial Services: Josh Volta

320 Exchange St. Middlebury, VT 05753 800.545.1169 / 802.388.2692 Credit: Kristi Wood Financial Services: Emilee English

1281 Old Country Road Riverhead, NY 11901-2097 800.890.3028 / 631.727.2188 Credit: Cynthia Stiglitz Financial Services: Michele Murray

130 Upper Welden St. St. Albans, VT 05478 800.545.1097 / 802.524.2938 Credit: Kristi Wood Financial Services: Emilee English

52 FarmVu Dr. White River Jct., VT 05001 800.370.3276 / 802.295.3670 Credit: Kristi Wood Financial Services: Emilee English

Potsdam, NY

One Pioneer Drive Potsdam, NY 13676-3273 800.295.8431 / 315.265.8452 Credit: Ted Black Financial Services: Austin Weaver

Presque Isle, ME

26 Rice Street Presque Isle, ME 04769-2265 800.831.4640 / 207.764.6431 Credit: Shannon Webber Financial Services: Josh Volta

Hornell, NY

1155 Airport Road Hornell, NY 14843-9144 800.929.2025 / 607.324.2020 Credit: Patrick Coates Financial Services: Beth Cummings

7397 State Highway 80 Cooperstown, NY 13326-3307 800.762.3276 / 607.282.3002 Credit: Ted Black Financial Services: Austin Weaver

Cortland, NY

One Technology Place Homer, NY 13077-1526 800.392.3276 / 607.749.7177 Credit: Stephen Tudhope Financial Services: Gregg McConnell

Country Living

7397 State Highway 80 Cooperstown, NY 13326-3307 800.762.3276 / 607.282.3002 Director: Wes Kujawa

Western

Eastern Central

Crop Growers

One Technology Place Homer, NY 13077-1526 800.234.7012 Leader: Triva Haycook

Dayville, CT

785 Hartford Pike Dayville, CT 06241-1739 800.327.6785 / 860.774.0717 Credit: Cynthia Stiglitz Financial Services: Michele Murray

FarmCreditEast.com

Farm Credit East, ACA 240 South Road Enfield, CT 06082-4451

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Annual Report