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City of Santa Ana <br />Pension Obligation Bonds <br />Scenario 1 - Base Case <br />Amounts in $0005 <br />Long -Term UAL Funded by POB % UAL Funded Balance 6/30/22 Deposit <br />Total Par Amount 3S9,405.000 <br />Total UAL Funded 3S0,698.072 S0.00% 701,395.050 328,682.392 <br />Miscelldrieuus <br />- <br />0.00% <br />292,/03.b 12 - <br />Safety <br />350,698.072 <br />85.81% <br />408.691.378 328,682.392 <br />Summary Statistics <br />Total <br />Miscellaneous <br />Safety <br />Average Life <br />14.8 years <br />14.9 years <br />TIC <br />3.009% <br />3.009% <br />All -in TIC <br />3.02x% <br />A O2A% <br />Financial PV savings (%of Par) <br />4252% <br />0 00% <br />42.52% <br />Financial PV Savings <br />1S2,825.543 <br />(a(xq <br />152,82S.543 <br />Cumulative Savings <br />184,S22.630 <br />(0.000) <br />184,522.630 <br />Budgetary Savings (vs tY22 UAL) <br />38,562.276 <br />Seving5(FY7)-26) <br />57,J3J. 147 <br />- <br />57,)0147 <br />IVlaxiniurn Annual Debt Service <br />33,R17.220 <br />- <br />33,817.220 <br />Maximum Annual Total Obligation <br />54,919.732 <br />33,650-418 <br />33,847.220 <br />Actuarial PV Savings (%of Par) <br />3399% <br />000% <br />33.990/ <br />Actuarial PV Savings <br />122,177.961 <br />(0.000) <br />122,177.961 <br />/o,tioti <br />ii0,nO(1 <br />5(IAu(1 <br />40,0(10 <br />1p,CRln <br />lg000 <br />r etn Suvim - [J", and=I UAL tLsrent Jn ....... Y 21 LAL <br />O: Deposit calculation <br />Deooslt Date 7/15/2021 <br />DcposiL Discount FacLor 0.937223 <br />Miscellaneous Safety Total <br />POB Proceeds - 328,682392 - 328,682.392 <br />1)i®cuuntin9 (Actuarial RaLe) - 22,015.680 - 22,015.680 <br />UAL Payment - 350,698.072 - 3S0,698.072 <br />City Council <br />23 — 137 <br />5/18/2021 <br />BofA Securities - Preliminary Analysis 3/10/2021 Page 2 of 18 <br />