August 18, 2022 --The proceeds from the issuance of the Fixed-Rate Reset Series K Non-Cumulative Perpetual Preferred Stock will be used to redeem all of its issued and outstanding shares of Fixed-to-Floating Rate Series F Non-Cumulative Perpetual Preferred Stock, Par Value $100 Per Share (“Series F Preferred Stock”) on October 1, 2022.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  CoBank ACB 6.25% Fixed to Floating Non-cumulative Perpetual Preferred Stock Series F, liquidation preference $100 per share, redeemable at the issuer's option on or after 10/1/2022 at $100 per share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative fixed rate distributions of 6.25% per annum ($6.25 per annum or $0.1.5625 per quarter) will be paid quarterly through 10/1/2022 on 1/1, 4/1, 7/1 & 10/1 to holders of record on the record date fixed by the board, approximately 15 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). After 10/1/2022 variable rate distributions will be paid quarterly at the three-month LIBOR plus 4.557%. The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by this preferred security are probably eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also probably eligible for the dividends received deduction for corporate holders. This security was not rated by Moody’s and rated A- by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. We have been unable to find an IPO prospectus for this security as the issuer does not file with the SEC. There is no CoBank common stock that we can find traded on the stock markets.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
OTOTC Chart	FixFloat $6.25	$100.00 $100.00	Called for 10/01/22 n.a.	NF BBB+ 8/26/2022	1/1, 4/1, 7/1 & 10/1 Click for MW ExDiv Date Click for Yahoo ExDiv Date	YES

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HOME PAGE:     https://www.cobank.com/
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Email Address

judavis@cobank.com

Address and Phone Numbers

Address:   5500 S. Quebec St., Greenwood Village, CO 80111
Main Phone Number	800-542-8072
Fax Number	Not Available
Corporate Communications   Julie Davis	202-215-1354
Toll Free Phone Number	800-542-8072

CEO - Thomas Halverson

CFO - Dave Burlage