Federal Home Loan Mortgage 8K Comprehensive Income of $4.5 Billion for First Quarter 2014 | FMCC 8 May 14

First Quarter 2014

Financial Results

Supplement

May 8, 2014

Exhibit 99.2

Table of contents

Business Results

Credit Supplement

3 -

Quarterly Financial Results

20 -

National Home Prices

4 -

Comprehensive Income

21 -

State-by-State Home Prices: June 2006 to March 2014

5 -

Senior Preferred Stock Purchase Agreement with Treasury

22 -

State-by-State Home Prices: March 2013 to March 2014

6 -

Treasury Draw Requests and Dividend Payments

23 -

Mortgage Market and Freddie Mac Serious Delinquency Rates

7 -

Total Equity and Senior Preferred Stock Activity

24 -

8 -

Single-Family Guarantee Fees Charged on New Acquisitions

25 -

9 -

Structured

Agency

Credit

Risk

(STACR

)

Debt

Note

Issuances

26 -

10 -

Loan Loss Reserves

27 -

11 -

28 -

12 -

29 -

13 -

30 -

14 -

31 -

15 -

32 -

Multifamily Portfolio Composition

16 -

33 -

Multifamily Securitization Volume

17 -

34 -

Multifamily New Business Volume by State

18 -

35 -

Multifamily Mortgage Portfolio UPB Concentration by State

36 -

Multifamily Mortgage Portfolio by Attribute

37 -

Multifamily Mortgage Portfolio by Attribute, Continued

38 -

Multifamily Market and Freddie Mac Delinquency Rates

Loan Purpose of Single-Family Credit Guarantee Portfolio

Purchases

Credit Quality of Single-Family Credit Guarantee Portfolio Purchases

Single-Family Credit Guarantee Portfolio Characteristics

Single-Family 1Q 2014 Credit Losses and REO by Region and State

Single-Family Credit Profile by Book Year and Product Feature

Single-Family Serious Delinquency Rates by State and Region

Aging of Single-Family Seriously Delinquent Loans by Judicial and

Non-Judicial States

Real Estate Owned

Single-Family Cumulative Foreclosure Transfer and Short Sale

Rates by Book Year

Market Liquidity Provided

Single-Family Refinance Activity

Performance of Single-Family Modified Loans

Single-Family Loan Modifications

Single-Family Loan Workouts

Administrative Expenses

Purchase Agreement Portfolio Limits

Quarterly financial results

Line 3:

A shift from derivative gains in 4Q13 to

derivative losses in 1Q14 primarily driven by

losses on the net pay-fixed swap portfolio as long-

term interest rates decreased.

Line 13:

Higher income tax expense primarily

driven by a higher effective tax rate in 1Q14. In

2014, the company expects its effective tax rate to

be marginally below the statutory rate of 35

percent.

Note: Columns and rows may not add due to rounding.

($ Billions)

1Q 2014

4Q 2013

1Q 2014

4Q 2013

Net interest income

$3.8

$3.5

($0.3)

(Provision) benefit for credit losses

0.2

(0.1)

(0.3)

Derivative gains (losses)

1.0

(2.4)

(3.3)

Net impairment of available-for-sale

securities recognized in earnings

(1.3)

(0.4)

0.9

Other non-interest income

6.1

5.8

(0.3)

Non-interest income

5.8

3.1

(2.6)

Total administrative expenses

(0.5)

0.0

Real estate owned operations expense

(0.0)

(0.1)

(0.0)

Temporary Payroll Tax Cut Continuation

Act of 2011 expense

(0.2)

(0.0)

Other non-interest income (expense)

0.3

(0.1)

(0.4)

Non-interest expense

(0.4)

(0.8)

(0.4)

Pre-tax income

9.3

5.8

(3.6)

Income tax expense

(0.7)

(1.7)

(1.0)

Net income

8.6

4.0

(4.6)

Total other comprehensive income,

net of taxes

1.2

0.5

(0.7)

Comprehensive income

$9.8

$4.5

($5.3)

Comprehensive income

C = A + B

$ Billions

$1.8

$2.9

$5.6

$5.7

$7.0

$4.4

$30.4

$9.8

$4.5

2012

2013

2014

Net income

Comprehensive income

Total

other

comprehensive

income

(loss),

net

taxes

Net income and Comprehensive income include $23.9 billion non-cash benefit from releasing the valuation allowance on deferred tax assets.

Consists of the after-tax changes in: (a) the unrealized gains and losses on available-for-sale securities; (b) the effective portion of derivatives previously designated as cash flow

hedges; and (c) defined benefit plans.

Senior Preferred Stock Purchase Agreement with

Treasury

Senior

preferred

stock

outstanding

and

held

Treasury

remained

$72.3

billion at

March 31, 2014.

Dividend payments do not reduce prior Treasury draws.

Any future draws will increase the balance of senior preferred stock outstanding.

Since entering conservatorship in September 2008, Freddie Mac has:

Received cumulative draws of $71.3 billion from Treasury. No draws have been requested for

the past eight quarters; last draw request was $19 million for first quarter 2012.

Freddie Mac’s net worth was $6.9 billion at March 31, 2014.

Capital

reserve

amount

$2.4

billion

for

quarterly

payments

2014,

and

will

reduced

$600 million each year thereafter until it reaches zero on January 1, 2018.

Dividend obligation to Treasury will be $4.5 billion in June 2014.

Aggregate cash dividends paid to Treasury will total $86.3 billion including the June dividend

obligation, versus cumulative cash draws of $71.3 billion received from Treasury through

March 31, 2014.

The amount of remaining Treasury funding currently available to Freddie Mac under

the

Purchase

Agreement

$140.5

billion.

Any

future

draws

will

reduce

this

amount.

Senior preferred stock outstanding of $72.3 billion at March 31, 2014 includes cumulative draws of $71.3 billion plus the initial liquidation preference of $1 billion.

Dividend Payments to Treasury

Draw Requests from Treasury

Treasury draw requests and dividend payments

$ Billions

Draws From Treasury

Dividend Payments to Treasury

($ Billions)

Cumulative

Total

Senior

Preferred

Stock

Outstanding

$72.3

Less:

Initial

Liquidation

Preference

$1.0

Treasury Draws

$71.3

($ Billions)

Cumulative

Total

Dividend Payments as of 03/31/14

$81.8

2Q 2014 Dividend Obligation

$4.5

Total

Dividend

Payments

$86.3

$44.6

$6.1

$13.0

$7.6

$0.02

$0.0

2008

2009

2010

2011

2012

2013

YTD

2014

$0.2

$4.1

$5.7

$6.5

$7.2

$47.6

$10.4

2008

2009

2010

2011

2012

2013

YTD

2014

The initial $1 billion liquidation preference of senior preferred stock was issued to Treasury in September 2008 as consideration for Treasury’s funding commitment. The company

received no cash proceeds as a result of issuing this initial $1 billion liquidation preference of senior preferred stock.

Amounts may not add due to rounding.

Amount does not include the June 2014 dividend obligation of $4.5 billion.

Annual amounts represent the total draws requested based on Freddie Mac’s quarterly net deficits for the periods presented. Draw requests are funded in the subsequent quarter

(e.g., $19 million draw request for 1Q 2012 was funded in 2Q 2012).

Represents quarterly cash dividends paid by Freddie Mac to Treasury during the periods presented. Through December 31, 2012, Treasury was entitled to receive cumulative

quarterly cash dividends at the annual rate of 10% per year on the liquidation preference of the senior preferred stock. However, the fixed dividend rate was replaced with a net

worth sweep dividend payment beginning in the first quarter of 2013. See the company’s Annual Report on Form 10-K for the year ended December 31, 2013 for more information.

Total equity and Senior Preferred Stock activity

See the company’s 10-Q for the quarter ended March 31, 2014 for a description of the company’s dividend obligation to Treasury.

Includes the initial liquidation preference of Freddie Mac’s senior preferred stock of $1.0 billion.

Note: Columns may not add due to rounding.

($ Billions)

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Beginning

balance

Total

equity

GAAP

net

worth

$8.8

$10.0

$7.4

$33.4

$12.8

Capital draw funded by Treasury

Net income

4.6

5.0

30.5

8.6

4.0

Total other comprehensive income (loss), net of taxes

2.4

(0.6)

(0.0)

1.2

0.5

Comprehensive income

7.0

4.4

30.4

9.8

4.5

Dividends paid to Treasury

(5.8)

(7.0)

(4.4)

(30.4)

(10.4)

Other

Ending

balance

Total

equity

GAAP

net

worth

$10.0

$7.4

$33.4

$12.8

$6.9

Aggregate

liquidation

preference

the

senior

preferred

stock

$72.3

Remaining senior preferred stock funding available

$140.5

Single-family guarantee fees charged on new

acquisitions

Quarterly

In Basis Points, Annualized

Annual

In Basis Points

Legislated

Basis

Point

Guarantee

Fee

Remitted

Treasury

Single-Family

Guarantee

Fee

Charged

New

Acquisitions

(excluding

amounts

remitted

Treasury)

Effective April 1, 2012, guarantee fees charged on single-family loans sold to Freddie Mac were increased by 10 basis points. Under the Temporary Payroll Tax Cut Continuation

Act of 2011, Freddie Mac is required to remit the proceeds from this increase to Treasury. Given the April 1, 2012 effective date, the impact of the increase on average guarantee

fees for full-year 2012 was 7.5 basis points.

Represents the estimated rate of management and guarantee fees for new acquisitions during the period assuming amortization of delivery fees using the estimated life of the

related loans rather than the original contractual maturity date of the related loans. Also includes the effect of pricing adjustments that are based on the relative performance of our

PCs compared to comparable Fannie Mae securities.

$0.5

$0.6

$1.0

3Q13

4Q13

1Q14

Structured

Agency

Credit

Risk

(STACR

)

debt

note

issuances

$ Billions

The reference pool for the April 2014 STACR debt note issuance represented an unpaid principal balance of $28.1 billion.

Includes the first loss risk held by Freddie Mac.

$22.6

$35.3

$32.4

STACR Reference Pool

($ Billions)

Cumulative

Total

STACR Debt Note Issuance as of 03/31/14

$2.1

April 2014 Issuance¹

$1.0

Total Issuance

$3.1

Loan loss reserves

Includes amounts related to certain loans purchased under financial guarantees and reflected within other expenses on the company’s consolidated statements of comprehensive

income.

Consists of the allowance for loan losses and the reserve for guarantee losses.

$ Billions

($3.3)

($2.9)

($3.0)

($2.5)

($2.1)

($1.9)

($0.6)

($0.4)

($0.9)

$1.8

$0.2

$0.6

($0.7)

($0.5)

($0.6)

($1.1)

($0.2)

$0.1

$38.3

$35.8

$33.8

$30.9

$28.6

$26.4

$25.0

$24.7

$24.1

1Q 2012

2Q 2012

3Q 2012

4Q 2012

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Net Charge-offs

Provision (Benefit)

Loan Loss Reserves (Period End Balances)

Real estate owned¹

Property Inventory

1Q 2014 Activity

Geographic Distribution

Based on Number of Properties in Inventory

Historical Trend

Ending Property Inventory

((Number of Properties)

In 1Q14, REO inventory declined primarily due to lower single-family foreclosure activity as a

result of Freddie Mac’s loss mitigation efforts and a declining amount of delinquent loans.

The

Southeast

region

comprised

percent

the

company’s

REO

property

inventory

March

31,

2014.

this

region,

Florida

comprised

percent

the

company’s

single-

family

inventory

March

31,

2014

and

has

been

one

the

states

with

high

REO

severity

rates

the

last

several

years.

The

North

Central

region

comprised

percent

Freddie

Mac’s

REO

property

inventory

March

31,

2014.

This

region

generally

has

experienced

challenging

economic

conditions,

and

includes

number

states

with

longer

foreclosure

timelines

due

the

local

laws

and

foreclosure

process

for

single-family

mortgage

loans.

Seven

the

nine

states

the

North

Central

region

require

judicial

foreclosure

process.

The

North

Central

region

experienced

decline

REO

acquisition

activity

during

1Q14

compared

4Q13

primarily

due

decline

the

number

loans

that

transitioned

serious

delinquency

recent

periods.

((Number of Properties)

47,308

43,567

14,385

(18,126)

12/31/13

Inventory

Acquisitions

Dispositions

03/31/14

Inventory

59k

47k

53k

51k

49k

48k

45k

47k

44k

2012

2013

2014

14k

16k

14k

13k

Northeast

Southeast

North Central

Southwest

West

12/31/13

03/31/14

Includes single-family and multifamily REO. Multifamily ending property inventory was 1 property as of December 31, 2013 and 2 properties as of March 31, 2014.

Region designation: West (AK, AZ, CA, GU, HI, ID, MT, NV, OR, UT, WA); Northeast (CT, DE, DC, MA, ME, MD, NH, NJ, NY, PA, RI, VT, VA, WV); Southeast (AL, FL, GA, KY, MS,

NC, PR, SC, TN, VI); North Central (IL, IN, IA, MI, MN, ND, OH, SD, WI); and Southwest (AR, CO, KS, LA, MO, NE, NM, OK, TX, WY).

Market liquidity provided

Number of Families Freddie Mac Helped

to Own or Rent a Home¹

In Thousands

Purchase and Issuance Volume²

(Single-Family and Multifamily)

$ Billions

For the periods presented, a borrower may be counted more than once if the company purchased more than one loan (purchase or refinance mortgage) relating to the same

borrower.

Includes cash purchases of single-family and multifamily mortgage loans, issuances of Freddie Mac mortgage-related securities through the company’s guarantor swap program,

issuances

other

guarantee

commitments,

issuances of other structured securities and purchases of non-Freddie Mac mortgage-related securities.

Number

Families

Freddie

Mac

Helped

Own

Rent

Home

(In Thousands)

Refinance borrowers (includes HARP)

Purchase borrowers

Multifamily rental units

Freddie

Mac

Purchase

and

Issuance

Volume

Cumulative Totals

Since 2009

11,624

$2.3 Trillion

7,815

2,136

1,673

Single-family refinance activity¹

2009

2010

2011

2012

2013

2014

Cumulative

Total

Number

Borrowers

(In Thousands)

Other Refinance

1,595

947

740

996

944

5,303

Relief

Refinance

LTV

80%

324

268

253

270

1,227

Relief

Refinance

LTV

80%

100%

(HARP)³

166

126

191

168

740

Relief

Refinance

LTV

100%

125%

(HARP)³

144

110

379

Relief

Refinance

LTV

125%

(HARP)³

166

Total Number of Borrowers

1,764

1,480

1,193

1,683

1,555

140

7,815

$ Volume

(In Billions)

Other Refinance

$345

$200

$168

$228

$210

$17

$1,168

Relief

Refinance

LTV

80%

$15

$58

$42

$36

$37

$192

Relief

Refinance

LTV

80%

100%

(HARP)³

$17

$38

$27

$37

$30

$151

Relief

Refinance

LTV

100%

125%

(HARP)³

$10

$13

$30

$21

$79

Relief

Refinance

LTV

125%

(HARP)³

$20

$11

$32

Total $ Volume

$380

$306

$250

$351

$309

$26

$1,622

Consists of all single-family refinance mortgage loans that the company either purchased or guaranteed during the period, including those associated with other guarantee

commitments and Other Guarantee Transactions.

Some loans have multiple borrowers, but the company has counted them as one borrower for this purpose. For the periods presented, a borrower may be counted more than

once if the company purchased more than one refinance loan relating to the same borrower.

The relief refinance mortgage initiative is Freddie Mac’s implementation of the Home Affordable Refinance Program (HARP). Under the program, the company allows eligible

borrowers who have mortgages with high current LTV ratios to refinance their mortgages without obtaining new mortgage insurance in excess of what was already in place.

HARP is targeted at borrowers with current LTV ratios above 80%; however, Freddie Mac’s program also allows borrowers with LTV ratios at or below 80% to participate.

Repayment plans

Loan modifications

Forbearance agreements

Short sales and deed-in-lieu of foreclosure transactions

Single-family

loan

workouts

Home

Retention

Actions

Foreclosure

Alternatives

133

275

208

Consists of both home retention actions and foreclosure alternatives.

These categories are not mutually exclusive and a borrower in one category may also be included within another category in the same or another period. For example, a borrower

helped

through

home

retention

action

one

period

may

subsequently

lose

his

her

home

through

foreclosure

short

sale

deed-in-lieu

transaction

later

period.

169

168

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Number of Loans

(000)

100

150

200

250

300

2009

2010

2011

2012

2013

Number of Loans

(000)

Number

Families

Avoiding

Foreclosure

(In Thousands)

Families Retaining Homes

Cumulative Totals Since

2009

987

8 out of every 10

No change in terms

Term extension

Change in interest rate, and in certain cases, term extension

Change in interest rate, term extension and

principal forbearance

Single-family loan modifications

Single-family Loan Modifications

(HAMP and non-HAMP)

170

109

1Q 2013

2Q 2013

3Q 2013

4Q 2013

1Q 2014

Number of

Loans

(000)

120

160

200

2009

2010

2011

2012

2013

Number of

Loans

(000)

Includes completed loan modifications under HAMP and under the company’s other modification programs. Excludes those loan modification activities for which the borrower has

started the required process, but the modification has not been made permanent or effective, such as loans in a modification trial period.

Principal forbearance is a change to a loan’s terms to designate a portion of the principal as non-interest bearing and non-amortizing.

Note: Totals may not recalculate due to rounding.

Quarterly Percentages of Modified Single-Family Loans

(HAMP and non-HAMP) ¹

Performance of single-family modified loans

Time Since Modification

1Q 2012

2Q 2012

3Q 2012

4Q 2012

1Q 2013

2Q 2013

3Q 2013

4Q 2013

3 to 5 months

85%

87%

84%

85%

86%

85%

84%

83%

6 to 8 months

80%

83%

82%

81%

79%

82%

N/A

9 to 11 months

77%

81%

78%

80%

N/A

12 to 14 months

76%

78%

76%

75%

78%

N/A

15 to 17 months

74%

77%

73%

76%

N/A

18 to 20 months

73%

75%

74%

N/A

21 to 23 months

71%

76%

N/A

24 to 26 months

73%

N/A

% Current and Performing

Quarter of Loan Modification Completion²

Represents the percentage of loans that are current and performing (no payment is 30 days or more past due) or have been paid in full. Excludes loans in modification trial periods.

Loan modifications are recognized as completed in the quarterly period in which the servicer has reported the modification as effective and the agreement has been accepted by the

company. For loans that have been remodified (e.g., where a borrower has received a new modification after defaulting on the prior modification) the rates reflect the status of each

modification separately. For example, in the case of a remodified loan where the borrower is performing, the previous modification would be presented as being in default in the

applicable period.

Administrative expenses

Annual

Quarterly

Mortgage-related investments portfolio ending balance

Mortgage-related investments portfolio limit

Purchase Agreement portfolio limits

Indebtedness

1, 3

($ Billions)

Mortgage Assets

1, 2

($ Billions)

Indebtedness limit

Total debt outstanding

The company’s Purchase Agreement with Treasury limits the amount of mortgage assets the company can own and indebtedness it can incur. Under the Purchase Agreement,

mortgage assets and indebtedness are calculated without giving effect to the January 1, 2010 change in the accounting guidance related to the transfer of financial assets and

consolidation of variable interest entities (VIEs). See the company’s Annual Report on Form 10-K for the year ended December 31, 2013 for more information.

Represents the unpaid principal balance (UPB) of the company’s mortgage-related investments portfolio. The company discloses its mortgage assets on this basis monthly in its

Monthly Volume Summary reports, which are available on its Web site and in Current Reports on Form 8-K filed with the Securities and Exchange Commission (SEC).

Represents the par value of the company’s unsecured short-term and long-term debt securities issued to third parties to fund its business activities. The company discloses its

indebtedness on this basis monthly in its Monthly Volume Summary reports, which are available on its Web site and in Current Reports on Form 8-K filed with the SEC.

Credit

Supplement

National home prices have experienced a cumulative

decline of 15% since June 2006

3.0

4.8

2.7

0.4

1.3

2.1

(0.8)

(1.6)

0.8

(2.2)

(4.4)

(3.2)

(0.9)

(2.9)

(5.4)

(2.7)

1.2

0.0

(1.6)

(0.3)

0.7

(2.5)

(2.8)

(1.2)

1.1

(1.1)

(2.0)

0.5

4.1

1.2

0.2

2.8

5.4

1.6

(0.7)

1.2

(6)

(4)

(2)

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Percent

(%)

National home prices use the Freddie Mac House Price Index for the U.S., which is a value-weighted average of the state indexes where the value weights are based on Freddie Mac’s single-

family credit guarantee portfolio. Other indices of home prices may have different results, as they are determined using different pools of mortgage loans and calculated under different

conventions than Freddie Mac’s. The Freddie Mac House Price Index for the U.S. is a non-seasonally adjusted monthly series; quarterly growth rates are calculated as a 3-month change based

on the final month of each quarter. Seasonal factors typically result in stronger house-price appreciation during the second and third quarters. Historical quarterly growth rates change as new

data becomes available. Values for the most recent periods typically see the largest changes. Cumulative decline calculated as the percent change from June 2006 to March 2014.

Source: Freddie Mac.

-13 to -1%

-22%

-21 to -14%

CT -23%

DC 26%

DE -16%

RI -29%

NJ -23%

Home price performance by state

June

2006

March

2014

United States -

15%

The Freddie Mac House Price Index for the U.S. is a value-weighted average of the state indexes where the value weights are based on Freddie Mac’s single-family credit

guarantee portfolio. Other indices of home prices may have different results, as they are determined using different pools of mortgage loans and calculated under different

conventions.

The

Freddie

Mac

House

Price

Index

for

the

U.S.

non-seasonally

adjusted

monthly

series.

Source: Freddie Mac

-6%

-4%

-28%

-20%

-35%

-16%

-24%

-5%

-1%

KY -4%

-21%

-15%

-21%

-17%

-13%

-7%

NC -7%

38%

-12%

-41%

-11%

-15%

-11%

-9%

TN -1%

17%

-14%

-6%

-14%

-16%

-20%

-11%

4 to 8%

-3 to 0%

1 to 3%

-1%

12%

16%

CT 0%

DC 10%

DE 5%

KY 1%

-3%

11%

NC 3%

NJ 2%

18%

11%

RI 2%

TN 5%

Home price performance by state

March

2013

March

2014

United States 8%

The Freddie Mac House Price Index for the U.S. is a value-weighted average of the state indexes where the value weights are based on Freddie Mac’s single-family credit

guarantee portfolio. Other indices of home prices may have different results, as they are determined using different pools of mortgage loans and calculated under different

conventions.

The

Freddie

Mac

House

Price

Index

for

the

U.S.

non-seasonally

adjusted

monthly

series.

Source: Freddie Mac

19.92%

5.41%

3.08%

2.39%

Single-family Serious Delinquency Rates

Mortgage market and Freddie Mac serious delinquency

rates

Mar-

Jun-

Sep-

Dec-

Mar-

Jun-

Sep-

Dec-

Mar-

Jun-

Sep-

Dec-

Mar-

Jun-

Sep-

Dec-

Mar-

Jun-

Sep-

Dec-

Total Mortgage Market

Prime

Subprime

Freddie Mac

Source: National Delinquency Survey from the Mortgage Bankers Association. Categories represent first lien single-family loans. Data is not yet available for the first quarter of

2014.

See “MD&A – RISK MANAGEMENT – Credit Risk – Mortgage Credit Risk – Single-Family Mortgage Credit Risk – Credit Performance – Delinquencies” in Freddie Mac’s Form 10-K

for the year ended December 31, 2013, for information about the company’s reported delinquency rates. The single-family serious delinquency rate at March 31, 2014 was 2.20%.

Total

Refinance

Loans:

53%

Loan purpose of single-family credit guarantee

portfolio purchases

The relief refinance mortgage initiative is Freddie Mac’s implementation of the Home Affordable Refinance Program (HARP). Under the program, the company allows eligible

borrowers who have mortgages with high current LTV ratios to refinance their mortgages without obtaining new mortgage insurance in excess of what was already in place. HARP is

targeted at borrowers with current LTV ratios above 80%; however, Freddie Mac’s relief refinance initiative also allows borrowers with LTV ratios at or below 80% to participate.

Percent (%)

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Purchase

Other Refinance

HARP

Relief

Refinance

(Non-HARP)

Credit quality of single-family credit guarantee portfolio

purchases

2009

2010

2011

2012

2013

2014

Weighted

Average

Original

LTV

Ratio

Relief refinance (includes HARP)

80%

77%

97%

91%

86%

All other

66%

67%

68%

71%

75%

Total purchases

67%

70%

76%

75%

77%

Weighted

Average

Credit

Score

Relief refinance (includes HARP)

738

747

744

740

727

711

All other

757

758

759

762

756

747

Total purchases

756

755

756

749

740

2009

2010

2011

2012

2013

2014

Purchase

Relief

Refinance

Mortgages

80%

LTV

(HARP

loans)

$ Billions

$19.6

$47.9

$39.7

$86.9

$62.5

$5.2

% of single-family credit guarantee portfolio purchases

12%

20%

15%

10%

Original LTV ratios are calculated as the unpaid principal balance (UPB) of the mortgage Freddie Mac guarantees including the credit-enhanced portion, divided by the lesser of the

appraised value of the property at the time of mortgage origination or the mortgage borrower’s purchase price. Second liens not owned or guaranteed by Freddie Mac are excluded

from the LTV ratio calculation. The existence of a second lien mortgage reduces the borrower’s equity in the home and, therefore, can increase the risk of default.

Credit score data is based on FICO scores at the time of origination and may not be indicative of the borrowers’ current creditworthiness. FICO scores can range between

approximately 300 to 850 points.

HARP is the portion of the company’s relief refinance initiative targeted at borrowers with current LTV ratios above 80%.

Single-family 1Q 2014 credit losses and REO

by region and state

($ Billions)

% of Total

UPB

($ Millions)

% of Total

Serious

Delinquency

Rate

(%)

1Q 2014

Acquisitions

($ Millions)

REO

Inventory

($ Millions)

% of Total

Inventory

($ Millions)

% of Total

Region

West

$465

28%

$7,896

20%

1.55%

$423

$1,080

15%

$79

Northeast

430

15,014

3.10%

411

1,517

258

North Central

289

5,118

1.67%

422

1,778

228

Southeast

272

9,378

3.07%

810

2,125

356

Southwest

195

2,242

1.25%

151

461

Total

$1,651

100%

$39,648

100%

2.20%

$2,217

$6,961

100%

$967

100%

State

Arizona,

California,

Florida

Nevada

$423

26%

$11,204

28%

2.63%

$861

$2,130

31%

$310

32%

Illinois,

Michigan

Ohio

174

3,732

1.95%

291

1,326

168

New

York

New

Jersey

145

8,759

4.98%

274

103

All other

909

15,953

1.72%

974

3,231

386

Total

$1,651

100%

$39,648

100%

2.20%

$2,217

$6,961

100%

$967

100%

Total Portfolio UPB

Seriously Delinquent Loans

REO Acquisitions & Balance

Credit

Losses

Based on the unpaid principal balance (UPB) of the single-family credit guarantee portfolio at March 31, 2014.

UPB amounts exclude $394 million of Other Guarantee Transactions since these securities are backed by non-Freddie Mac issued securities for which loan characteristic data was not

available.

Based on the number of loans that are three monthly payments or more past due or in the process of foreclosure.

Based on the UPB of loans at the time of REO acquisition.

Consist of the aggregate amount of charge-offs, net of recoveries, and REO operations (income) expense for 1Q 2014.

Region designation: West (AK, AZ, CA, GU, HI, ID, MT, NV, OR, UT, WA); Northeast (CT, DE, DC, MA, ME, MD, NH, NJ, NY, PA, RI, VT, VA, WV); Southeast (AL, FL, GA, KY, MS, NC, PR,

SC, TN, VI); North Central (IL, IN, IA, MI, MN, ND, OH, SD, WI); and Southwest (AR, CO, KS, LA, MO, NE, NM, OK, TX, WY).

Represents the four states that had the largest cumulative declines in home prices during the housing crisis that began in 2006, as measured using Freddie Mac’s home price index.

Represents selected states in the North Central region that have experienced adverse economic conditions since 2006.

Represents two states with a judicial foreclosure process in which there are a significant number of seriously delinquent loans within Freddie Mac’s single-family credit guarantee portfolio.

1.2%

Single-family serious delinquency rates by state and

region

Single-family Serious Delinquency Rates

By State

1,2

Single-family Serious Delinquency Rates

By Region

1,3

Based

the

number

loans

that

are

three

monthly

payments

past

due

the

process

foreclosure.

See

“MD&A

–

RISK

MANAGEMENT

–

Credit

Risk

–

Mortgage

Credit

Risk

–

Single-Family

Mortgage

Credit

Risk

–

Credit

Performance

–

Delinquencies”

Freddie

Mac’s

Form

10-K

for

the

year

ended

December

31,

2013,

for

information

about

the company’s reported delinquency rates.

States presented are those with the highest number of seriously delinquent loans within Freddie Mac’s single-family credit guarantee portfolio as of March 31, 2014.

Region designation: West (AK, AZ, CA, GU, HI, ID, MT, NV, OR, UT, WA); Northeast (CT, DE, DC, MA, ME, MD, NH, NJ, NY, PA, RI, VT, VA, WV); Southeast (AL, FL, GA, KY, MS, NC,

PR, SC, TN, VI); North Central (IL, IN, IA, MI, MN, ND, OH, SD, WI); and Southwest (AR, CO, KS, LA, MO, NE, NM, OK, TX, WY).

1.7%

2.2%

3.1%

5.6%

6.0%

2.2%

2.5%

4.3%

1.3%

1.6%

2011

2012

2013

2014

Percent

California

Florida

Illinois

New Jersey

New York

Total

2011

2012

2013

2014

Percent

West

Northeast

North Central

Southeast

Southwest

Total

Aging of single-family seriously delinquent loans by

judicial and non-judicial states

Excludes loans underlying certain single-family Other Guarantee Transactions since the geographic information is not available to us for these loans. As of March 31, 2014, the

states and territories classified as having a judicial foreclosure process consist of: CT, DE, FL, HI, IA, IL, IN, KS, KY, LA, ME, ND, NE, NJ, NM, NY, OH, OK, OR, PA, PR, SC, SD, VI,

VT and WI. All other states are classified as having a non-judicial foreclosure process. Judicial foreclosures are those conducted under the supervision of a court.

# of Seriously

Delinquent

Loans

Percent

# of Seriously

Delinquent

Loans

Percent

# of Seriously

Delinquent

Loans

Percent

Judicial

Review

States

Less than or equal to 1 year

73,887

23%

59,129

23%

54,249

23%

More than 1 year and less than or equal to 2 years

45,464

14%

30,604

12%

27,853

12%

More than 2 years

76,125

24%

65,154

26%

61,022

26%

Non-Judicial

States

Less than or equal to 1 year

78,209

24%

60,175

24%

54,636

24%

More than 1 year and less than or equal to 2 years

26,764

17,968

16,263

More than 2 years

23,062

19,731

18,427

Combined

Less than or equal to 1 year

152,096

47%

119,304

47%

108,885

47%

More than 1 year and less than or equal to 2 years

72,228

22%

48,572

19%

44,116

19%

More than 2 years

99,187

31%

84,885

34%

79,449

34%

Total

323,511

100%

252,761

100%

232,450

100%

As of 03/31/13

As of 12/31/13

As of 03/31/14

Single-family

credit

guarantee

portfolio

characteristics

Option

FICO

Original

LTV

FICO < 620 &

Original

Attribute

Alt-A

Interest-only

ARM

< 620

620

–

659

> 90%

LTV

90%

UPB $ Billions

$1,651

$55

$33

$47

$95

$261

$13

Percent of Total Portfolio

100%

16%

Average UPB per loan

$154,848

$154,270

$223,688

$197,819

$126,234

$132,838

$169,771

$137,156

Fixed Rate (% of total portfolio)

94%

63%

17%

95%

94%

98%

Owner Occupied

90%

82%

80%

76%

95%

93%

91%

95%

Original Loan-to-Value (OLTV)

75%

73%

74%

71%

81%

80%

107%

OLTV > 90%

16%

27%

23%

100%

Current Loan-to-Value (CLTV)

69%

86%

91%

84%

82%

79%

97%

102%

CLTV > 90%

16%

44%

50%

39%

36%

32%

59%

67%

CLTV > 100%

31%

34%

26%

25%

21%

33%

48%

CLTV > 110%

21%

17%

16%

13%

20%

31%

Average

FICO

Score

739

710

718

707

584

643

725

582

FICO

620

100%

Book

Year

2014

2013

17%

11%

2012

16%

2011

2010

2009

New single-family book (2009 to 2014)

55%

18%

24%

HARP

and

other

relief

refinance

loans

21%

30%

23%

60%

56%

2005 to 2008 Legacy single-family book

15%

84%

94%

71%

43%

39%

10%

26%

Pre-2005 Legacy single-family book

16%

29%

21%

20%

16%

Loans

with

Credit

Enhancement

13%

11%

15%

22%

19%

49%

52%

Seriously

Delinquent

2.20%

9.66%

11.55%

11.67%

9.29%

6.65%

2.93%

8.87%

Total Portfolio

as of

March 31, 2014

Portfolio characteristics are based on the unpaid principal balance (UPB) of the single-family credit guarantee portfolio. Approximately $1 billion in UPB for Other Guarantee Transactions

is included in total UPB and percentage seriously delinquent but not included in the calculation of other statistics since these securities are backed by non-Freddie Mac issued securities

for which loan characteristic data was not available.

For a description of Alt-A, see the “Glossary” in the company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014.

Beginning September 1, 2010, the company fully discontinued purchases of interest-only loans.

Represents the FICO score of the borrower at loan origination. The company estimates that less than 1% of loans within the portfolio are missing origination FICO scores and as such

are excluded.

Indicates year of loan origination (except for HARP and other relief refinance loans). Calculated based on the loans remaining in the portfolio as of March 31, 2014, rather than all loans

originally guaranteed by the company and originated in the respective year. Each Book Year category represents the percentage of loans referenced in line 1 of the same vertical

column. Individual book years exclude HARP and other relief refinance loans originated in that year. See endnote (6).

HARP and other relief refinance loans are presented separately rather than in the year in which the refinancing occurred (from 2009 to 2014). All other refinance loans are presented

within the year that the refinancing occurred.

Excludes credit enhancement coverage occurring subsequent to the company’s purchase or guarantee, such as STACR debt notes or other risk transfer transactions

(i.e., K certificate transactions). Including subsequently obtained coverage, the percentage for the total portfolio with credit enhancement was 19% as of March 31, 2014.

Based on the number of loans that are three monthly payments or more past due or in the process of foreclosure.

Note: Individual categories are not mutually exclusive, and therefore are not additive across columns.

Single-family credit profile by book year and product

feature

Attribute

2014

2013

2012

2011

2010

2009

New single-

family book

(2009 to 2014)

HARP and

other relief

refinance

loans

2005 to 2008

Legacy single-

family book

Pre-2005

Legacy single-

family book

UPB $ Billions

$1,651

$20

$285

$260

$116

$110

$116

$907

$343

$255

$146

Original Loan-to-Value (OLTV)

75%

71%

69%

70%

89%

75%

73%

OLTV > 90%

16%

14%

10%

45%

11%

Current Loan-to-Value (CLTV)

69%

75%

68%

60%

58%

59%

62%

63%

80%

86%

49%

CLTV > 100%

20%

28%

CLTV > 110%

12%

18%

Average

FICO

Score

739

747

754

761

756

754

751

756

735

703

710

FICO

620

Adjustable-rate

15%

12%

Interest-only

12%

Investor

Condo

11%

Geography

Arizona,

California,

Florida

Nevada

26%

32%

27%

26%

21%

18%

17%

24%

28%

31%

22%

Illinois,

Michigan

Ohio

10%

13%

14%

New

York

New

Jersey

10%

11%

All other states

55%

53%

55%

57%

60%

63%

64%

58%

51%

50%

53%

% of

Loans

with

Credit

Enhancement

13%

24%

18%

13%

10%

13%

12%

18%

10%

% Seriously

Delinquent

2.20%

0.00%

0.01%

0.05%

0.20%

0.40%

0.87%

0.24%

0.65%

8.25%

3.16%

Total Portfolio

as of

March 31, 2014

Book Year

Portfolio characteristics are based on the unpaid principal balance (UPB) of the single-family credit guarantee portfolio. Approximately $1 billion in UPB for Other Guarantee Transactions is

included in total UPB and percentage seriously delinquent but not included in the calculation of other statistics since these securities are backed by non-Freddie Mac issued securities for which

loan characteristic data was not available.

Indicates year of loan origination (except for HARP and other relief refinance loans). Calculated based on the loans remaining in the portfolio as of March 31, 2014, rather than all loans originally

guaranteed by the company and originated in the respective year. Individual book years exclude HARP and other relief refinance loans originated in that year. See endnote (3).

HARP and other relief refinance loans are presented separately rather than in the year in which the refinancing occurred (from 2009 to 2014). All other refinance loans are presented within the

year that the refinancing occurred.

Represents the average of the borrowers’ FICO scores at origination. The company estimates that less than 1% of loans within the portfolio are missing FICO scores and as such are excluded.

Beginning September 1, 2010, the company fully discontinued purchases of interest-only loans.

Represents the four states that had the largest cumulative declines in home prices during the housing crisis that began in 2006, as measured using Freddie Mac’s home price index.

Represents selected states in the North Central region that have experienced adverse economic conditions since 2006.

Represents two states with a judicial foreclosure process in which there are a significant number of seriously delinquent loans within Freddie Mac’s single-family credit guarantee portfolio.

Excludes credit enhancement coverage occurring subsequent to the company’s purchase or guarantee, such as STACR debt notes or other risk transfer transactions (i.e., K certificate

transactions). Including subsequently obtained coverage, the percentage for the total portfolio with credit enhancement was 19% as of March 31, 2014.

Based on the number of loans that are three monthly payments or more past due or in the process of foreclosure.

Single-family cumulative foreclosure transfer and

short

sale

rates

book

year

2007

2006

2005

2004

2014

2008

2009

2010

2011

2013

2012

Rates are calculated for each year of origination as the number of loans that have proceeded to foreclosure transfer or short sale and resulted in a credit loss, excluding

any subsequent recoveries, divided by the number of loans originated in that year that were acquired in the company’s single-family credit guarantee portfolio. Includes

Other Guarantee Transactions where loan characteristic data is available.

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

10.00%

11.00%

12.00%

Yr1

Yr2

Yr3

Yr4

Yr5

Yr6

Yr7

Yr8

Yr9

Yr10

Yr11

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Quarter Post Origination

Total Multifamily (MF) Portfolio

UPB $ Billions

Multifamily portfolio composition

$167

$165

$135

$154

$164

$169

$177

$180

12/31/07

12/31/08

12/31/09

12/31/10

12/31/11

12/31/12

12/31/13

03/31/14

MF loan portfolio

MF investment securities portfolio

MF guarantee portfolio

K-Deal

Securitization

Volume

UPB $ Billions

Multifamily securitization volume

Total UPB represents the total collateral UPB of multifamily loans sold via Freddie Mac’s K Certificate transactions.

Data as of March 31, 2014.

$2.1

$6.4

$13.7

$21.2

$28.0

$3.9

2009

2010

2011

2012

2013

YTD

2014

1.0%

0.0%

> 5%

> 3% -

> 1% -

0.1%

2.0%

7.0%

3.7%

0.3%

1.2%

0.0%

5.5%

6.2%

0.0%

0.9%

<0.1%

1.9%

0.8%

0.1%

0.7%

0.0%

2.4%

0.0%

0.9%

1.4%

0.6%

0.0%

2.6%

0.0%

1.1%

1.2%

0.0%

1.7%

14.1%

5.0%

0.4%

0.9%

1.2%

<0.1%

0.5%

1.7%

23.5%

1.0%

2.4%

0.0%

2.0%

0.8%

0.0%

0.1%

0.0%

MA 3.0%

MF New Business Volume $3.0B

For the Three Months Ended March 31, 2014

Based on the unpaid principal balance (UPB) of the multifamily loan purchases and issuance of other guarantee commitments and other structured securities.

Percentages shown above are rounded to the nearest tenth of a percent although classifications are based on unrounded figures.

Multifamily

new

business

volume

state

(%)

Multifamily mortgage portfolio UPB concentration by

state

0.9%

0.0%

0.3%

2.4%

16.6%

3.0%

0.9%

0.7%

0.2%

7.0%

4.3%

0.2%

<0.1%

2.5%

0.7%

0.8%

0.5%

0.7%

MA 1.9%

4.9%

<0.1%

1.0%

1.2%

1.1%

0.3%

<0.1%

2.8%

0.1%

0.5%

2.7%

0.3%

1.1%

8.5%

2.0%

0.5%

0.9%

2.5%

0.2%

0.9%

<0.1%

1.4%

12.9%

0.6%

5.3%

0.0%

3.4%

0.7%

<0.1%

0.1%

2% -

1% -

MF Mortgage Portfolio $132.6B

As of March 31, 2014

Based on the unpaid principal balance (UPB) of unsecuritized mortgage loans, other guarantee commitments, and collateral underlying other structured securities and K Certificate

transactions. Percentages shown above are rounded to the nearest tenth of a percent although classifications are based on unrounded figures.

Consists of the UPB of unsecuritized multifamily loans, other guarantee commitments, and guaranteed Freddie Mac mortgage-related securities. Excludes the UPB associated with

unguaranteed subordinated tranches in K Certificate transactions and other structured securities.

Multifamily

mortgage

portfolio

attribute

Year

Acquisition

Guarantee

2007 and prior

$40.6

0.43%

$34.2

0.24%

$33.0

0.15%

2008

16.0

0.22

13.2

0.18

12.6

2009

12.1

11.2

11.0

2010

11.8

10.9

0.13

10.7

0.07

2011

16.9

15.9

15.7

2012

25.6

23.7

23.5

2013

6.0

23.7

23.2

2014

N/A

2.9

Total

$129.0

0.16%

$132.8

0.09%

$132.6

0.04%

Maturity Dates

2014

$7.1

0.28%

$2.1

0.12%

$1.4

0.20%

2015

9.2

0.15

6.9

0.05

6.5

2016

12.6

0.05

11.2

10.7

2017

10.6

0.19

10.0

0.43

9.8

0.27

2018

17.3

17.0

16.9

2019

18.2

17.5

0.07

17.6

0.05

Beyond 2019

54.0

0.27

68.1

0.09

69.7

0.03

Total

$129.0

0.16%

$132.8

0.09%

$132.6

0.04%

Geography

California

$21.2

0.10%

$22.4

0.03%

$22.3

Texas

16.0

0.13

16.7

0.02

16.9

New York

10.8

0.09

11.4

0.12

11.5

0.08

Florida

9.0

0.04

9.3

0.28

9.2

Virginia

7.0

0.37

6.9

0.38

Maryland

6.6

6.7

6.5

All other states

58.4

0.26

59.3

0.08

59.3

0.04

Total

$129.0

0.16%

$132.8

0.09%

$132.6

0.04%

UPB

($ Billions)

March 31, 2014

UPB

($ Billions)

Delinquency

Rate

(%)

December 31, 2013

Delinquency

Rate

(%)

March 31, 2013

Delinquency

Rate

(%)

UPB

($ Billions)

Based on the unpaid principal balance (UPB) of the multifamily mortgage portfolio.

Based on the UPB of mortgages two monthly payments or more past due or in the process of foreclosure.

Based on either: (a) the year of acquisition, for loans recorded on the company’s consolidated balance sheets; or (b) the year that the company issued its guarantee, for the

remaining loans in its multifamily mortgage portfolio.

Presents the six states with the highest UPB at March 31, 2014.

Multifamily

mortgage

portfolio

attribute,

continued

Current Loan Size

> $25M

$49.1

$50.6

0.05%

$50.1

0.05%

> $5M & <= $25M

71.0

0.26

73.2

0.11

73.4

0.03

> $3M & <= $5M

5.7

0.17

6.0

0.11

6.0

0.06

> $750K & <= $3M

3.0

0.56

2.8

0.17

2.9

0.17

<= $750K

0.2

0.37

0.2

0.46

0.2

0.26

Total

$129.0

0.16%

$132.8

0.09%

$132.6

0.04%

Legal Structure

Unsecuritized Loans

$73.7

0.06%

$59.2

0.08%

$55.9

0.02%

K Certificates

41.8

0.06

59.8

0.07

62.8

0.05

Other Freddie Mac mortgage-related securities

4.2

3.07

4.8

0.59

4.8

0.28

Other guarantee commitments

9.3

9.0

9.1

Total

$129.0

0.16%

$132.8

0.09%

$132.6

0.04%

Credit Enhancement

Credit Enhanced

$52.2

0.34%

$70.2

0.11%

$73.3

0.07%

Non-Credit Enhanced

76.8

0.04

62.6

0.07

59.3

0.02

Total

$129.0

0.16%

$132.8

0.09%

$132.6

0.04%

Other

Original LTV > 80%

$5.6

2.34%

$5.6

0.19%

$5.6

0.19%

Original

DSCR

below

1.10

$2.2

3.76%

$2.2

March 31, 2014

UPB

($ Billions)

Delinquency

Rate

(%)

December 31, 2013

Delinquency

Rate

(%)

March 31, 2013

Delinquency

Rate

(%)

UPB

($ Billions)

UPB

($ Billions)

Based on the unpaid principal balance (UPB) of the multifamily mortgage portfolio.

Based on the UPB of mortgages two monthly payments or more past due or in the process of foreclosure.

DSCR – Debt Service Coverage Ratio – is an indicator of future credit performance for multifamily loans. DSCR estimates a multifamily borrower’s ability to service its mortgage obligation using the secured

property’s cash flow, after deducting non-mortgage expenses from income. The higher the DSCR, the more likely a multifamily borrower will be able to continue servicing its mortgage obligation.

0.00%

Multifamily market and Freddie Mac delinquency rates

Percent

6.24%

0.83%

0.09%

4Q 2009

2Q 2010

4Q 2010

2Q 2011

4Q 2011

2Q 2012

4Q 2012

2Q 2013

4Q 2013

Freddie Mac (60+ day)

FDIC Insured Institutions (90+ day)

MF CMBS Market (60+ day)

ACLI Investment Bulletin (60+ day)

See “MD&A – RISK MANAGEMENT – Credit Risk – Mortgage Credit Risk – Multifamily Mortgage Credit Risk ” in Freddie Mac’s Form 10-K for the year ended December 31,

2013, for information about the company’s reported multifamily delinquency rate. The multifamily delinquency rate at March 31, 2014 was 0.04%.

Source: Freddie Mac, FDIC Quarterly Banking Profile, TREPP (CMBS multifamily 60+ delinquency rate, excluding REOs), American Council of Life Insurers (ACLI). Non-Freddie

Mac data is not yet available for the first quarter of 2014.

Safe Harbor Statements

Freddie Mac obligations

Freddie Mac’s securities are obligations of Freddie Mac only. The securities, including any interest or return of discount on the securities,

are not guaranteed by and are not debts or obligations of the United States or any federal agency or instrumentality other than Freddie

Mac.

No offer or solicitation of securities

This

presentation

includes

information

to,

referenced

the

offering

documentation

for,

certain

Freddie

Mac

securities,

including offering circulars and related supplements and agreements. Freddie Mac securities may not be eligible for offer or sale in

certain

jurisdictions

certain

persons.

This

information

provided

for

your

general

information

only,

current

only

its

specified

date and does not constitute an offer to sell or a solicitation of an offer to buy securities. The information does not constitute a sufficient

basis

for

making

decision

with

respect

the

purchase

sale

any

security.

All

information

regarding

relating

Freddie

Mac

securities

qualified

its

entirety

the

relevant

offering

circular

and

any

supplements.

Investors

should

review

the

relevant

offering circular and any related supplements before making a decision with respect to the purchase or sale of any security. In addition,

before purchasing any security, please consult your legal and financial advisors for information about and analysis of the security, its

risks and its suitability as an investment in your particular circumstances.

Forward-looking statements

Freddie Mac's presentations may contain forward-looking statements, which may include statements pertaining to the conservatorship,

the company’s current expectations and objectives for its single-family, multifamily and investment businesses, its loan workout

initiatives and other efforts and other programs to assist the U.S. residential mortgage market, liquidity, capital management, economic

and market conditions and trends, market share, the effect of legislative and regulatory developments, and new accounting guidance,

credit quality of loans we guarantee, and results of operations and financial condition on a GAAP, Segment Earnings and fair value

basis. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond the company’s

control. Management’s expectations for the company’s future necessarily involve a number of assumptions, judgments and estimates,

and various factors, including changes in market conditions, liquidity, mortgage spreads, credit outlook, actions by the U.S. government

(including FHFA, Treasury and Congress), and the impacts of legislation or regulations and new or amended accounting guidance, could

cause actual results to differ materially from these expectations. These assumptions, judgments, estimates and factors are discussed in

the

company’s

Annual

Report

Form

10-K

for

the

year

ended

December

31,

2013,

Quarterly

Report

Form

10-Q

for

the

quarter

ended March 31, 2014 and Current Reports on Form 8-K, which are available on the Investor Relations page of the company’s Web site

at www.FreddieMac.com/investors and the SEC’s Web site at www.sec.gov. The company undertakes no obligation to update forward-

looking statements it makes to reflect events or circumstances after the date of this presentation.

Federal Home Loan Mortgage (FMCC) 8-KComprehensive Income of $4.5 Billion for First Quarter 2014