Investment Report for the Quarter Ending September 30, 2026

CITY OF CHANDLER
HEALTH CARE BENEFITS TRUST
Investment Performance Review
For the Quarter Ended September 30, 2026
PFM Asset Management
Client Management Team A division of U.S. Bancorp Asset Management, Inc
Luke Schneider, CFA, Managing Director 1101 W. Washington Street 213 Market Street
Annette Gaston, Director Tempe, AZ 85288 Harrisburg, PA 17101-2141
480-271-0432 717-232-2723
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public

• Market Summary
• Account Summary
• Portfolio Review
PFM Asset Management | pfmam.com 1

Market Summary
PFM Asset Management | pfmam.com 2

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Fixed Income Management
Summary Interest Rates
• Persistent inflation, resilient consumer activity, and escalating geopolitical • Persistent inflation, resilient economic activity, and a more hawkish Fed led
risks shaped Q3. Oil prices rose sharply in July while renewed conflict-related markets to price a higher policy path pushing U.S. Treasury yields higher. The
uncertainty contributed to higher bond market volatility. Despite these risks, September rate hike accelerated the increase, with intermediate- and longer-term
domestic demand remained firm, supported by consumer spending and yields reaching their highest levels in decades.
continued investment in technology, software, and AI infrastructure. • The 3-month Treasury ended the quarter at 4.11%, an increase of 30 basis points
• The quarter marked an important shift in Federal Reserve (Fed) policy. The (bps). The 2-, 5-, 10-, and 30-year Treasuries ended at 4.89%, 5.09%, 5.28%, and
Federal Open Market Committee (FOMC) held rates unchanged in July despite 5.63%, representing increases of 72, 86, 81, and 68 bps, respectively.
divided views among members. Still, limited progress on inflation strengthened • Rising yields weighed heavily on longer-duration securities. The ICE BofA 3-
the case for tightening. In September, the FOMC unanimously raised its target month, 2-, 5-, and 10-year U.S. Treasury indices returned +0.89%, -0.24%,
range by 25 basis points to 3.75% to 4.00%, its first increase since July 2023. -2.70%, and
• Our base case now includes at least one additional hike in 2026, with risks -5.17%, respectively. Income cushioned the impact, but shorter-maturity securities
skewed toward further tightening. However, markets reflect a more aggressive outperformed as the yield curve shifted higher.
path than our expectations, creating opportunities in shorter-duration securities.
We remain neutral on the long end amid heavy Treasury issuance, expanding Sector Performance
fiscal deficits, and rising term premia. • Spread sector performance was mixed as strong fundamentals and investor
demand competed with higher rates, increased volatility, and rich valuations.
Economic Snapshot Sector and security selection took on increasing importance in Q3.
• Inflation remained the central challenge with limited progress toward the Fed’s • Federal agency and supranational issuance remained limited, keeping spreads
2% target. Higher energy prices continue to impact headline inflation while near historically tight levels and constraining excess-return opportunities.
elevated core measures and rising business costs increased the risk pressures • Investment-grade (IG) corporate bonds were supported by healthy fundamentals
could broaden. Resilient growth and a labor market broadly consistent with full and strong demand, although elevated issuance and rich valuations limited
employment gave policymakers confidence the economy could withstand tighter further spread compression. September’s wider spreads improved entry points,
policy, allowing the Fed to firmly focus on price stability. but we remain cautious and selective.
• Economic growth remained resilient and was increasingly supported by business • AAA-rated asset-backed securities benefited from resilient consumer
investment. Q2 real GDP growth was revised higher to 2.2%, with technology fundamentals and favorable collateral performance. However, stretched
investment contributing approximately 0.4 percentage points as firms invested in valuations support selectivity and allow allocations to decline through natural
information-processing equipment, software, and related infrastructure. This paydowns.
spending supported domestic demand and potential productivity growth. At the • Agency MBS came under pressure as higher mortgage rates and interest-rate
same time, related financing and infrastructure needs contributed to heavier
corporate issuance and inflationary pressures in select areas. volatility weighed on the sector, particularly in September. Although valuations
improved, near-term risks remain skewed to the downside. We remain defensive
• Consumer spending remained strong, although its durability became less while preserving flexibility to pursue future opportunities.
certain. Slower job creation, and moderating wage and income growth may • Agency CMBS was more resilient earlier in the quarter but weakened as rates
weigh on purchasing power. With consumer spending outpacing income growth, and volatility rose at the end of the quarter. Favorable structures and limited
the savings rate continues to fall. Higher energy costs also add another source extension risk provide support, although rate uncertainty warrants selectivity.
of pressure.
• The labor market remained stable as the “low hire, low fire” theme continued. • Market pricing appears to reflect more aggressive Fed tightening than our base
The unemployment rate remained near historic lows at 4.2%, and the three- case, which we believe continues to present attractive buying opportunities
month average of 51,000 new jobs remained broadly consistent with the for shorter-duration securities. We remain neutral on the long end of the curve as
breakeven rate needed to keep the unemployment rate unchanged. expanding fiscal deficits, heavy issuance, and rising term premia present
increased risks.
PFM Asset Management | pfmam.com 3

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Fixed Income Management
Economic Snapshot
Labor Market Latest Mar-26 Jun-25
Unemployment Rate (left) vs. Change in Non-Farm Payrolls (right)
Unemployment Rate Sep-26 4.2% 4.2% 4.4% Change In Non-Farm Payrolls Unemployment Rate
5.0% 300K
Change In Non-Farm Payrolls Sep-26 29,000 31,000 76,000 4.0% 250K 200K
150K
Average Hourly Earnings (YoY) Sep-26 3.0% 3.4% 3.8% 3.0% 100K 50K 0
2.0%
Personal Income (YoY) Aug-26 4.3% 4.7% 5.4% 1.0% -50K -100K
-150K
Initial Jobless Claims (week) 10/3/26 197,000 217,000 225,000 0.0% -200K
Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Apr-26
Growth
Real GDP (QoQ SAAR) 2026Q2 2.2% 2.5% 1 4.0% 2 Real GDP (QoQ)
5%
GDP Personal Consumption (QoQ SAAR) 2026Q2 3.8% 0.7% 1 2.1% 2 4%
3%
Retail Sales (YoY) Aug-26 5.4% 5.9% 3.8%
2%
ISM Manufacturing Survey (month) Sep-26 54.5 53.3 48.9 1%
0%
Existing Home Sales SAAR (month) Aug-26 3.98 mil. 4.13 mil. 4.08 mil. Jun-23 Dec-23 Jun-24 Dec-24 Jun-25 Dec-25 Jun-26
Inflation/Prices
Personal Consumption Expenditures (YoY) Aug-26 3.4% 3.5% 2.8% Consumer Price Index
CPI (YoY) Core CPI (YoY)
Consumer Price Index (YoY) Aug-26 3.4% 3.5% 3.0% 5%
4%
Consumer Price Index Core (YoY) Aug-26 2.4% 2.6% 3.0% 3%
2%
Crude Oil Futures (WTI, per barrel) Sep 30 $90.42 $69.50 $62.37 1%
0%
Gold Futures (oz.) Sep 30 $4,156 $4,039 $3,841 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Mar-26
1. Data as of First Quarter 2025.
2. Data as of Fourth Quarter 2025.
Note: YoY = year-over-year, QoQ = quarter-over-quarter, SAAR = seasonally adjusted annual rate, WTI = West Texas Intermediate crude oil.
Source: Bloomberg Finance L.P.
PFM Asset Management | pfmam.com 4

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Fixed Income Management
Interest Rate Overview
U.S. Treasury Note Yields U.S. Treasury Yield Curve
6%
6.0%
5%
5.0%
4%
4.0%
3%
Yield 3.0% Yield 2%
2.0% 1%
1.0% 0%
3-mo 1-yr 2-yr 3-yr 5-yr 7-yr 10-yr 20-yr 30-yr
0.0%
9/30/25 12/31/25 3/31/26 6/30/26 9/30/26 Maturity
2-Year 5-Year 10-Year September 30, 2026 June 30, 2026 September 30, 2025
U.S. Treasury Yields Yield Curves as of September 30, 2026
Maturity Sep-26 Jun-26 Change over Sep-25 Change over 7%
Quarter Year
6%
3-Month 4.11% 3.81% 0.30% 3.93% 0.18%
5%
1-Year 4.54% 3.97% 0.57% 3.61% 0.93% 4%
2-Year 4.89% 4.17% 0.72% 3.61% 1.28% Yield 3%
2%
5-Year 5.09% 4.23% 0.86% 3.74% 1.35%
1%
10-Year 5.28% 4.47% 0.81% 4.15% 1.13% 0%
mo 3- 1-yr 2-yr 3-yr 5-yr 0 yr 7- 10-yr 25-yr 30-yr
30-Year 5.63% 4.95% 0.68% 4.73% 0.90% Maturity
U.S. Treasury Federal Agency Corporates, A Rated
Source: Bloomberg Finance L.P.
PFM Asset Management | pfmam.com 5

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Fixed Income Management
ICE BofA Index Returns
As of 09/30/2026 Returns for Periods ended 09/30/2026
September 30, 2026 Duration Yield 3 Month 1 Year 3 Years
1-3 Year Indices
U.S. Treasury 1.80 4.84% (0.13%) 1.67% 4.07%
Federal Agency 1.71 4.87% (0.11%) 1.87% 4.17%
U.S. Corporates, A-AAA rated 1.86 5.27% (0.20%) 2.07% 4.92%
Agency MBS (0 to 3 years) 1.85 5.40% (0.49%) 2.09% 4.67%
Taxable Municipals 1.70 5.16% (0.25%) 2.12% 4.65%
1-5 Year Indices
U.S. Treasury 2.50 4.92% (0.82%) 0.72% 3.94%
Federal Agency 2.41 4.96% (0.82%) 0.93% 4.00%
U.S. Corporates, A-AAA rated 2.66 5.43% (1.04%) 1.00% 5.00%
Agency MBS (0 to 5 years) 3.34 5.55% (1.96%) 0.49% 4.99%
Taxable Municipals 2.39 5.31% (1.04%) 1.24% 4.47%
Master Indices (Maturities 1 Year or Greater)
U.S. Treasury 5.73 5.14% (3.15%) (2.01%) 3.15%
Federal Agency 3.39 5.06% (1.67%) 0.15% 4.04%
U.S. Corporates, A-AAA rated 6.30 5.87% (3.87%) (2.36%) 4.60%
Agency MBS (0 to 30 years) 5.93 5.89% (4.14%) (1.48%) 4.55%
Taxable Municipals 8.34 6.08% (5.28%) (2.98%) 4.03%
Returns for periods greater than one year are annualized.
Source: ICE BofA Indices.
PFM Asset Management | pfmam.com 6

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Fixed Income Management
Disclosures
Indices shown are not available for investment. The index data reference herein is the property of the index provider and/or its licensors. The index provider assumes no
liability in connections with its use and does not sponsor, endorse or recommend the products or services contained herein. Index returns do not reflect payment of any
sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to
be lower than the performance shown.
The views expressed within this material constitute the perspective and judgment of U.S. Bancorp Asset Management, Inc. at the time of distribution and are subject to
change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon current opinion as of the
date of issue and are also subject to change. Opinions and data presented are not necessarily indicative of future events or expected performance. Information contained
herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. No representation is
made as to its accuracy or completeness.
PFM Asset Management serves clients in the public sector and is a division of U.S. Bancorp Asset Management, Inc., which is the legal entity providing investment
advisory services. U.S. Bancorp Asset Management, Inc. is a registered investment adviser, a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S.
Bancorp. U.S. Bank N.A. is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Asset Management, Inc.
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
Further distribution is not permitted without prior written consent.
PFM Asset Management | pfmam.com 7

Account Summary
PFM Asset Management | pfmam.com 8

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Account Summary
Account Summary
CHANDLER HEALTH CARE BENEFITS TRUST
Portfolio Values September 30, 2026 Analytics¹ September 30, 2026
PFMAM Managed Account $24,602,080 Yield at Market 4.92%
Amortized Cost $24,976,171 Yield on Cost 4.11%
Market Value $24,602,080 Portfolio Duration 1.74
Accrued Interest $240,500
Cash $113,080
1. Yield at market, yield on cost, and portfolio duration only include investments held within the separately managed account(s), excludes balances invested in overnight funds.
PFM Asset Management | pfmam.com 9

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Account Summary
Sector Allocation Analytics
U.S. Treasury - $18,510,168 74.5%
Corporate - $6,332,412 25.5%
0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
Portfolio Allocation Sector Limit for Analysis*
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest.
*Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided.
PFM Asset Management | pfmam.com 10

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Account Summary
Issuer Diversification
Security Type / Issuer Market Value (%) S&P / Moody's / Fitch Security Type / Issuer Market Value (%) S&P / Moody's / Fitch
U.S. Treasury 74.5% Corporate 25.5%
United States Treasury 74.5% AA / Aa / AA Salesforce Inc 0.6% A / A / NR
Corporate 25.5% ServiceNow Inc 0.6% A / A / NR
Advanced Micro Devices Inc 0.4% A / A / NR State Street Corp 1.1% A / Aa / AA
Alphabet Inc 1.0% AA / Aa / NR Total 100.0%
Amazon.com Inc 1.2% AA / A / AA
American Express Co 0.8% A / A / A
Bank of America Corp 1.1% A / A / AA
Bank of New York Mellon Corp 1.4% A / Aa / AA
BlackRock Inc 0.4% AA / Aa / NR
Caterpillar Inc 0.7% A / A / A
Charles Schwab Corp 0.6% A / A / A
Chevron Corp 0.8% AA / Aa / NR
Cisco Systems Inc 1.3% AA / A / NR
Citigroup Inc 1.6% A / A / A
Depository Trust & Clearing Corp 1.6% AA / Aa / NR
Eli Lilly & Co 0.8% AA / Aa / NR
Goldman Sachs Group Inc 1.6% A / A / AA
Johnson & Johnson 0.2% AAA / Aaa / NR
JPMorgan Chase & Co 0.9% A / A / AA
Kenvue Inc 0.5% A / A / NR
Mastercard Inc 1.6% A / Aa / NR
Morgan Stanley 0.8% A / Aa / AA
National Rural Utilities Cooperative Fi 0.4% NR / A / A
Novartis AG 1.3% AA / Aa / NR
NVIDIA Corp 1.7% AA / Aa / NR
PepsiCo Inc 0.6% A / A / NR
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings,
excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances
invested in overnight funds.
PFM Asset Management | pfmam.com 11

Portfolio Review:
CHANDLER HEALTH CARE BENEFITS TRUST
PFM Asset Management | pfmam.com 12

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Snapshot
Portfolio Snapshot - CHANDLER HEALTH CARE BENEFITS TRUST¹
Portfolio Statistics Sector Allocation
Total Market Value $24,955,660.10
Securities Sub-Total $24,602,079.94
Accrued Interest $240,499.86
Cash $113,080.30
Portfolio Effective Duration 1.74 years U.S. Treasury | 75%
Corporate | 26%
Benchmark Effective Duration 1.74 years
Yield At Cost 4.11%
Yield At Market 4.91%
Portfolio Credit Quality AA
Credit Quality - S&P2 Duration Distribution
Portfolio Benchmar3
AAA | <1% 58% 58%
60%
AA+ | 76%
AA | 4%
AA- | 5% 40% 38% 34%
A+ | 6%
A | 6%
A- | 3% 20%
BBB+ | 1% 8%
Not Rated | <1% 4%
0%
0-1 Yr 1-2 Yrs 2-3 Yrs
1. Yield and duration calculations exclude cash and cash equivalents. Sector allocation includes market values and accrued interest.
2. An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio.
3. The portfolio’s benchmark is currently the ICE BofA 1-3 Year U.S Treasury Index. Prior to 3/31/17 it was the ICE BofA 0-3 Year U.S Treasury Index. Prior to 9/30/12 it was the ICE BofA 0-6
Month U.S Treasury Index. Source: Bloomberg Financial LP.
PFM Asset Management | pfmam.com 13

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Characteristics
Liquidity Vehicle Quarter-End Yield
Allspring Treasury Plus Money
3.62%
Market A Fund1
First American Funds2 3.61%
1. Allspring Treasury Plus Money Market A Fund ticker symbol PISXX. Account yield is the 30-day current yield from Fund website as of 9/30/2026.
2. First American Funds ticker symbol FGZXX; Account yield is the Net Annualized Monthly Average Yield as of September 30, 2026. For U.S. Treasury, Treasury Obligations and Government Obligations
–You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not
insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not
expect that the sponsor will provide financial support to the Fund at any time.
PFM Asset Management | pfmam.com 14

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Characteristics
Sector Allocation Review - CHANDLER HEALTH CARE BENEFITS TRUST
Security Type Dec-25 % of Total Mar-26 % of Total Jun-26 % of Total Sep-26 % of Total
U.S. Treasury $16.8 77.6% $13.9 72.3% $13.9 71.5% $18.3 74.5%
Corporate $4.8 22.4% $5.3 27.7% $5.5 28.5% $6.3 25.5%
Total $21.6 100.0% $19.3 100.0% $19.4 100.0% $24.6 100.0%
U.S. Treasury Corporate
$25.0
$20.0
$15.0
Millions
$10.0
$5.0
$0.0
December 2025 March 2026 June 2026 September 2026
Market values, excluding accrued interest. Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. Detail may not add to total due to rounding.
PFM Asset Management | pfmam.com 15

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Activity
Portfolio Activity - CHANDLER HEALTH CARE BENEFITS TRUST
Net Activity by Sector
($ millions)
Sector Net Activity
U.S. Treasury $4,692,502
Corporate $841,597
Total Net Activity $5,534,099
U.S. Treasury U.S. Treasury
Corporate Corporate
($2.0) $0.0 $2.0 $4.0 $6.0 $8.0
Sales/Maturities Purchases
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding.
PFM Asset Management | pfmam.com 16

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Performance
Portfolio Performance
Portfolio Benchmark
5.0%
4.0%
3.0%
Return 2.0%
1.0%
0.0%
-1.0%
3 Months 1 Year 3 Years 5 Years 10 Years
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 Years¹
Interest Earned² $263,052 $866,131 $2,407,380 $3,039,321 $4,142,215
Change in Market Value ($286,030) ($469,434) $272,854 ($185,565) $49,208
Total Dollar Return ($22,978) $396,697 $2,680,234 $2,853,756 $4,191,423
Total Return³
Portfolio -0.10% 1.79% 4.19% 2.63% 2.23%
Benchmark⁴ -0.13% 1.67% 4.07% 1.90% 1.78%
1. The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is December 31, 2010.
2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.
3. Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.
4. The portfolio’s benchmark is currently the ICE BofA 1-3 Year U.S Treasury Index. Prior to 3/31/17 it was the ICE BofA 0-3 Year U.S Treasury Index. Prior to 9/30/12 it was the ICE BofA 0-6 Month U.S
Treasury Index. Source: Bloomberg Financial LP.
PFM Asset Management | pfmam.com 17

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Performance
Accrual Basis Earnings - CHANDLER HEALTH CARE BENEFITS TRUST
Accrual Basis Earnings 3 Months 1 Year 3 Years 5 Year 10 Year¹
Interest Earned² $263,052 $866,131 $2,407,380 $3,039,321 $4,142,215
Realized Gains / (Losses)³ ($11,329) $48,941 $23,979 $11,883 $128,035
Change in Amortized Cost $9,148 $35,131 $239,519 $254,758 $307,094
Total Earnings $260,871 $950,203 $2,670,879 $3,305,963 $4,577,343
1. The lesser of 10 years or since inception is shown. Performance inception date is December 31, 2010.
2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.
3. Realized gains / (losses) are shown on an amortized cost basis.
PFM Asset Management | pfmam.com 18

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Composition
Issuer Distribution
As of September 30, 2026
Issuer Market Value ($) % of Portfolio
UNITED STATES TREASURY 18,331,987 74.50 %
NVIDIA CORP 414,788 1.69 %
CITIGROUP INC 405,626 1.65 %
GOLDMAN SACHS GROUP INC 394,994 1.61 %
MASTERCARD INC 393,813 1.60 %
DEPOSITORY TRUST & CLEARING CORP 379,323 1.54 %
BANK OF NEW YORK MELLON CORP 338,178 1.37 %
CISCO SYSTEMS INC 322,504 1.31 %
NOVARTIS AG 317,553 1.29 %
AMAZON.COM INC 291,369 1.18 %
BANK OF AMERICA CORP 279,416 1.14 %
STATE STREET CORP 268,281 1.09 %
ALPHABET INC 250,817 1.02 %
JPMORGAN CHASE & CO 219,506 0.89 %
MORGAN STANLEY 189,530 0.77 %
ELI LILLY & CO 189,228 0.77 %
CHEVRON CORP 188,795 0.77 %
AMERICAN EXPRESS CO 188,562 0.77 %
CATERPILLAR INC 169,187 0.69 %
PEPSICO INC 158,872 0.65 %
CHARLES SCHWAB CORP 148,009 0.60 %
SERVICENOW INC 147,847 0.60 %
SALESFORCE INC 147,178 0.60 %
KENVUE INC 134,697 0.55 %
PFM Asset Management | pfmam.com 19

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Composition
Issuer Market Value ($) % of Portfolio
BLACKROCK INC 104,909 0.43 %
ADVANCED MICRO DEVICES INC 94,027 0.38 %
NATIONAL RURAL UTILITIES COOPERATIVE FI 88,285 0.36 %
JOHNSON & JOHNSON 44,801 0.18 %
Grand Total 24,602,080 100.00 %
PFM Asset Management | pfmam.com 20

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Holdings
Managed Account Detail of Securities Held
Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value
U.S. Treasury
US TREASURY N/B 91282CLQ2 230,000.00 AA+ Aa1 11/1/2024 11/4/2024 228,176.17 4.16 4,115.33 229,331.83 228,292.25
DTD 10/15/2024 3.875% 10/15/2027
US TREASURY N/B 91282CLX7 975,000.00 AA+ Aa1 12/5/2024 12/6/2024 975,152.34 4.12 15,191.32 975,060.30 969,249.45
DTD 11/15/2024 4.125% 11/15/2027
US TREASURY N/B 91282CFZ9 1,100,000.00 AA+ Aa1 3/14/2024 3/15/2024 1,079,976.56 4.41 14,324.80 1,093,719.59 1,089,944.90
DTD 11/30/2022 3.875% 11/30/2027
US TREASURY N/B 91282CMB4 1,050,000.00 AA+ Aa1 7/7/2026 7/8/2026 1,048,031.25 4.13 12,393.44 1,048,343.57 1,041,509.70
DTD 12/16/2024 4.000% 12/15/2027
US TREASURY N/B 91282CMB4 1,040,000.00 AA+ Aa1 1/3/2025 1/6/2025 1,031,996.88 4.28 12,275.41 1,036,602.02 1,031,590.56
DTD 12/16/2024 4.000% 12/15/2027
US TREASURY N/B 91282CGP0 560,000.00 AA+ Aa1 3/14/2024 3/15/2024 552,256.25 4.38 1,918.23 557,236.67 554,202.88
DTD 02/28/2023 4.000% 02/29/2028
US TREASURY N/B 91282CMS7 985,000.00 AA+ Aa1 4/1/2025 4/2/2025 986,385.16 3.82 1,687.02 985,703.24 972,572.26
DTD 03/17/2025 3.875% 03/15/2028
US TREASURY N/B 91282CND9 945,000.00 AA+ Aa1 6/2/2025 6/3/2025 940,754.88 3.91 13,385.36 942,605.65 929,385.77
DTD 05/15/2025 3.750% 05/15/2028
US TREASURY N/B 91282CNH0 1,100,000.00 AA+ Aa1 7/1/2025 7/2/2025 1,103,652.34 3.75 12,577.87 1,102,157.21 1,082,769.60
DTD 06/16/2025 3.875% 06/15/2028
US TREASURY N/B 91282CQY0 1,000,000.00 AA+ Aa1 7/7/2026 7/8/2026 999,804.69 4.13 10,424.59 999,828.21 988,008.00
DTD 06/30/2026 4.125% 06/30/2028
US TREASURY N/B 91282CNU1 875,000.00 AA+ Aa1 8/13/2025 8/15/2025 874,282.23 3.65 4,051.04 874,543.44 855,791.13
DTD 08/15/2025 3.625% 08/15/2028
US TREASURY N/B 91282CNU1 385,000.00 AA+ Aa1 8/27/2025 8/28/2025 385,015.04 3.62 1,782.46 385,010.36 376,548.10
DTD 08/15/2025 3.625% 08/15/2028
US TREASURY N/B 91282CNY3 400,000.00 AA+ Aa1 10/1/2025 10/2/2025 397,765.63 3.58 596.69 398,494.49 388,906.40
DTD 09/15/2025 3.375% 09/15/2028
US TREASURY N/B 91282CPC9 240,000.00 AA+ Aa1 11/3/2025 11/4/2025 239,296.88 3.61 3,878.69 239,505.83 233,596.80
DTD 10/15/2025 3.500% 10/15/2028
US TREASURY N/B 91282CPP0 1,750,000.00 AA+ Aa1 7/7/2026 7/8/2026 1,723,408.20 4.16 18,073.77 1,725,838.12 1,698,935.00
DTD 12/15/2025 3.500% 12/15/2028
PFM Asset Management | pfmam.com 21

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Holdings
Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value
U.S. Treasury
US TREASURY N/B 91282CPP0 460,000.00 AA+ Aa1 1/2/2026 1/5/2026 459,460.94 3.54 4,750.82 459,591.92 446,577.20
DTD 12/15/2025 3.500% 12/15/2028
US TREASURY N/B 91282CJR3 375,000.00 AA+ Aa1 1/26/2024 1/29/2024 369,829.10 4.06 3,553.84 372,512.50 365,771.63
DTD 01/02/2024 3.750% 12/31/2028
US TREASURY N/B 91282CPT2 1,265,000.00 AA+ Aa1 2/4/2026 2/5/2026 1,260,108.01 3.64 9,384.38 1,261,152.84 1,226,259.38
DTD 01/15/2026 3.500% 01/15/2029
US TREASURY N/B 91282CQA2 595,000.00 AA+ Aa1 3/2/2026 3/3/2026 595,255.67 3.48 2,659.71 595,208.18 576,034.38
DTD 02/17/2026 3.500% 02/15/2029
US TREASURY N/B 91282CQE4 425,000.00 AA+ Aa1 3/13/2026 3/16/2026 422,044.92 3.75 657.46 422,555.26 411,037.90
DTD 03/16/2026 3.500% 03/15/2029
US TREASURY N/B 91282CQR5 700,000.00 AA+ Aa1 5/27/2026 5/28/2026 696,007.81 4.08 10,245.58 696,445.95 681,625.00
DTD 05/15/2026 3.875% 05/15/2029
US TREASURY N/B 91282CQV6 815,000.00 AA+ Aa1 7/7/2026 7/8/2026 814,140.43 4.16 9,920.29 814,205.45 797,808.39
DTD 06/15/2026 4.125% 06/15/2029
US TREASURY N/B 91282CQZ7 800,000.00 AA+ Aa1 8/3/2026 8/4/2026 795,843.75 4.31 6,994.57 796,055.11 782,437.60
DTD 07/15/2026 4.125% 07/15/2029
US TREASURY N/B 91282CRG8 615,000.00 AA+ Aa1 9/1/2026 9/2/2026 611,660.74 4.45 3,338.21 611,746.59 603,132.35
DTD 08/17/2026 4.250% 08/15/2029
Security Type Sub-Total 18,685,000.00 18,590,305.87 4.01 178,180.88 18,623,454.33 18,331,986.63
Corporate
BLACKROCK INC (CALLABLE) 09290DAH4 105,000.00 AA- Aa3 7/17/2024 7/26/2024 104,996.85 4.60 872.08 104,999.17 104,908.65
DTD 07/26/2024 4.600% 07/26/2027
CATERPILLAR FINL SERVICE 14913UAR1 170,000.00 A A1 8/12/2024 8/16/2024 169,915.00 4.42 3,449.11 169,970.81 169,186.55
DTD 08/16/2024 4.400% 10/15/2027
MASTERCARD INC (CALLABLE) 57636QBA1 90,000.00 A+ Aa3 9/3/2024 9/5/2024 89,950.50 4.12 779.00 89,980.33 89,089.02
DTD 09/05/2024 4.100% 01/15/2028
BANK OF NY MELLON CORP 06406RAB3 340,000.00 A Aa3 8/6/2024 8/7/2024 330,323.60 4.33 1,755.42 336,098.26 338,177.94
(CALLABLE)
DTD 02/07/2017 3.442% 02/07/2028
PEPSICO INC (CALLABLE) 713448GA0 160,000.00 A+ A1 2/5/2025 2/7/2025 159,932.80 4.47 1,068.00 159,968.71 158,871.52
DTD 02/07/2025 4.450% 02/07/2028
PFM Asset Management | pfmam.com 22

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Holdings
Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value
Corporate
ELI LILLY & CO (CALLABLE) 532457CU0 190,000.00 AA- Aa3 6/26/2025 6/27/2025 192,306.60 4.06 1,176.68 191,191.39 189,227.65
DTD 02/12/2025 4.550% 02/12/2028
JPMORGAN CHASE & CO 46647PCW4 110,000.00 A A1 9/14/2023 9/18/2023 100,580.70 5.13 333.17 107,031.39 109,130.67
(CALLABLE)
DTD 02/24/2022 2.947% 02/24/2028
CISCO SYSTEMS INC (CALLABLE) 17275RBW1 40,000.00 AA- A1 2/19/2025 2/24/2025 39,956.80 4.59 187.06 39,979.19 39,765.52
DTD 02/24/2025 4.550% 02/24/2028
CHEVRON USA INC (CALLABLE) 166756BB1 190,000.00 AA- Aa2 2/24/2025 2/26/2025 190,000.00 4.48 826.63 190,000.00 188,795.02
DTD 02/26/2025 4.475% 02/26/2028
STATE STREET CORP (CALLABLE) 857477CU5 270,000.00 A Aa3 2/25/2025 2/28/2025 270,000.00 4.54 1,122.66 270,000.00 268,280.64
DTD 02/28/2025 4.536% 02/28/2028
JOHNSON & JOHNSON (CALLABLE) 478160DH4 45,000.00 AAA Aaa 2/18/2025 2/20/2025 44,973.90 4.57 170.63 44,987.37 44,800.52
DTD 02/20/2025 4.550% 03/01/2028
MASTERCARD INC (CALLABLE) 57636QBF0 70,000.00 A+ Aa3 2/18/2025 2/27/2025 69,946.80 4.58 141.56 69,973.78 69,591.13
DTD 02/27/2025 4.550% 03/15/2028
KENVUE INC (CALLABLE) 49177JAF9 135,000.00 A A2 6/27/2025 6/30/2025 138,187.35 4.12 170.44 136,720.90 134,696.79
DTD 10/17/2023 5.050% 03/22/2028
ADVANCED MICRO DEVICES 007903BJ5 95,000.00 A A1 3/10/2025 3/24/2025 95,000.00 4.32 79.78 95,000.00 94,027.49
(CALLABLE)
DTD 03/24/2025 4.319% 03/24/2028
JPMORGAN CHASE & CO 46647PEE2 110,000.00 A A1 6/3/2024 6/4/2024 110,733.70 5.38 2,706.58 110,150.77 110,375.76
(CALLABLE)
DTD 04/22/2024 5.571% 04/22/2028
SERVICENOW INC 81762PAF9 10,000.00 A A2 5/12/2026 5/15/2026 9,963.80 4.44 160.56 9,970.42 9,856.49
DTD 05/15/2026 4.250% 05/15/2028
SERVICENOW INC 81762PAF9 140,000.00 A A2 5/13/2026 5/15/2026 139,825.00 4.32 2,247.78 139,857.02 137,990.86
DTD 05/15/2026 4.250% 05/15/2028
NATIONAL SECS CLEARING 637639AK1 380,000.00 AA Aa1 7/18/2025 7/21/2025 386,703.20 4.34 6,386.11 383,914.85 379,323.22
(CALLABLE)
DTD 05/30/2023 5.000% 05/30/2028
NATIONAL RURAL UTIL COOP 63743HFZ0 90,000.00 NR A2 8/19/2025 8/25/2025 89,899.20 4.19 373.50 89,934.77 88,284.96
(CALLABLE)
DTD 08/25/2025 4.150% 08/25/2028
NOVARTIS CAPITAL CORP 66989HAX6 325,000.00 AA- Aa3 11/6/2025 11/7/2025 325,601.25 3.83 5,140.42 325,422.61 317,553.27
(CALLABLE)
DTD 11/05/2025 3.900% 11/05/2028
PFM Asset Management | pfmam.com 23

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Holdings
Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value
Corporate
ALPHABET INC (CALLABLE) 02079KAV9 25,000.00 AA+ Aa2 11/3/2025 11/6/2025 24,978.50 3.91 365.97 24,984.67 24,426.73
DTD 11/06/2025 3.875% 11/15/2028
MORGAN STANLEY BANK NA 61690DK72 190,000.00 A+ Aa3 6/20/2025 6/23/2025 192,276.20 4.65 2,091.39 191,173.42 189,529.94
(CALLABLE)
DTD 01/21/2025 5.016% 01/12/2029
CISCO SYSTEMS INC (CALLABLE) 17275RBR2 285,000.00 AA- A1 11/7/2025 11/10/2025 292,552.50 3.98 1,343.85 290,550.76 282,738.53
DTD 02/26/2024 4.850% 02/26/2029
CITIGROUP INC (CALLABLE) 17327CAW3 160,000.00 BBB+ A3 2/25/2025 3/4/2025 160,000.00 4.79 574.32 160,000.00 158,948.48
DTD 03/04/2025 4.786% 03/04/2029
AMAZON.COM INC (CALLABLE) 023135DC7 300,000.00 AA A1 3/18/2026 3/19/2026 299,130.00 4.10 600.00 299,278.52 291,369.30
DTD 03/13/2026 4.000% 03/13/2029
SALESFORCE INC (CALLABLE) 79466LAR5 150,000.00 A+ A2 3/11/2026 3/13/2026 149,967.00 4.66 310.00 149,972.81 147,177.60
DTD 03/13/2026 4.650% 03/15/2029
AMERICAN EXPRESS CO (CALLABLE) 025816ED7 190,000.00 A- A2 5/19/2026 5/21/2026 190,452.20 4.64 3,895.19 190,370.54 188,562.08
DTD 04/25/2025 4.731% 04/25/2029
GOLDMAN SACHS BANK USA 38151LAJ9 400,000.00 A+ A1 7/7/2026 7/8/2026 400,532.00 4.60 6,104.53 400,470.33 394,994.00
(CALLABLE)
DTD 06/03/2026 4.656% 06/03/2029
MASTERCARD INC (CALLABLE) 57636QBK9 240,000.00 A+ Aa3 7/7/2026 7/8/2026 239,745.60 4.46 3,333.50 239,765.03 235,132.56
DTD 06/08/2026 4.425% 06/08/2029
NVIDIA CORP (CALLABLE) 67066GAQ7 425,000.00 AA Aa1 7/7/2026 7/8/2026 423,695.25 4.46 5,289.48 423,792.45 414,788.10
DTD 06/18/2026 4.350% 06/15/2029
CITIBANK NA (CALLABLE) 17325FBT4 250,000.00 A+ Aa3 7/7/2026 7/8/2026 249,860.00 4.57 3,257.38 249,870.65 246,677.25
DTD 06/18/2026 4.554% 06/18/2029
BANK OF AMERICA CORP 06051GHM4 285,000.00 A- A1 3/18/2026 3/19/2026 284,244.75 4.36 2,299.22 284,358.34 279,416.28
(CALLABLE)
DTD 07/23/2018 4.271% 07/23/2029
ALPHABET INC (CALLABLE) 02079KCN5 230,000.00 AA+ Aa2 8/19/2026 8/20/2026 230,041.40 4.62 1,506.98 230,040.30 226,390.15
DTD 08/10/2026 4.625% 08/10/2029
PFM Asset Management | pfmam.com 24

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Holdings
Security Type/Description S&P Moody's Trade Settle Original YTM Accrued Amortized Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Date Cost at Cost Interest Cost Value
Corporate
CHARLES SCHWAB CORP 808513BX2 160,000.00 A- A2 4/6/2026 4/7/2026 151,881.60 4.33 2,200.00 152,936.93 148,008.64
(CALLABLE)
DTD 09/24/2021 2.750% 10/01/2029
Security Type Sub-Total 6,355,000.00 6,348,154.05 4.41 62,318.98 6,352,716.49 6,270,093.31
Managed Account Sub Total 25,040,000.00 24,938,459.92 4.11 240,499.86 24,976,170.82 24,602,079.94
Securities Sub Total $25,040,000.00 $24,938,459.92 4.11% $240,499.86 $24,976,170.82 $24,602,079.94
Accrued Interest $240,499.86
Total Investments $24,842,579.80
PFM Asset Management | pfmam.com 25

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)
BUY
7/7/2026 7/8/2026 815,000.00 91282CQV6 US TREASURY N/B 4.12% 6/15/2029 816,253.08 4.16%
7/7/2026 7/8/2026 1,750,000.00 91282CPP0 US TREASURY N/B 3.50% 12/15/2028 1,727,257.24 4.16%
7/7/2026 7/8/2026 250,000.00 17325FBT4 CITIBANK NA (CALLABLE) 4.55% 6/18/2029 250,492.50 4.57%
7/7/2026 7/8/2026 400,000.00 38151LAJ9 GOLDMAN SACHS BANK USA (CALLABLE) 4.65% 6/3/2029 402,342.67 4.60%
7/7/2026 7/8/2026 1,050,000.00 91282CMB4 US TREASURY N/B 4.00% 12/15/2027 1,050,670.59 4.13%
7/7/2026 7/8/2026 240,000.00 57636QBK9 MASTERCARD INC (CALLABLE) 4.42% 6/8/2029 240,630.60 4.46%
7/7/2026 7/8/2026 1,000,000.00 91282CQY0 US TREASURY N/B 4.12% 6/30/2028 1,000,701.43 4.13%
7/7/2026 7/8/2026 425,000.00 67066GAQ7 NVIDIA CORP (CALLABLE) 4.35% 6/15/2029 424,722.33 4.46%
8/3/2026 8/4/2026 800,000.00 91282CQZ7 US TREASURY N/B 4.12% 7/15/2029 797,637.23 4.31%
8/19/2026 8/20/2026 230,000.00 02079KCN5 ALPHABET INC (CALLABLE) 4.62% 8/10/2029 230,336.89 4.62%
9/1/2026 9/2/2026 615,000.00 91282CRG8 US TREASURY N/B 4.25% 8/15/2029 612,939.20 4.45%
Total BUY 7,575,000.00 7,553,983.76 0.00
INTEREST
7/1/2026 7/1/2026 MONEY0002 MONEY MARKET FUND 0.00% 15,310.13
7/12/2026 7/12/2026 61690DK72 MORGAN STANLEY BANK NA (CALLABLE) 5.01% 1/12/2029 4,765.20
7/15/2026 7/15/2026 91282CPT2 US TREASURY N/B 3.50% 1/15/2029 22,137.50
7/15/2026 7/15/2026 91282CKZ3 US TREASURY N/B 4.37% 7/15/2027 8,750.00
PFM Asset Management | pfmam.com 26

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)
INTEREST
7/15/2026 7/15/2026 57636QBA1 MASTERCARD INC (CALLABLE) 4.10% 1/15/2028 1,845.00
7/23/2026 7/23/2026 06051GHM4 BANK OF AMERICA CORP (CALLABLE) 4.27% 7/23/2029 6,086.18
7/26/2026 7/26/2026 09290DAH4 BLACKROCK INC (CALLABLE) 4.60% 7/26/2027 2,415.00
8/3/2026 8/3/2026 MONEY0002 MONEY MARKET FUND 0.00% 3,824.08
8/7/2026 8/7/2026 06406RAB3 BANK OF NY MELLON CORP (CALLABLE) 3.44% 2/7/2028 5,851.40
8/7/2026 8/7/2026 713448GA0 PEPSICO INC (CALLABLE) 4.45% 2/7/2028 3,560.00
8/12/2026 8/12/2026 532457CU0 ELI LILLY & CO (CALLABLE) 4.55% 2/12/2028 4,322.50
8/14/2026 8/14/2026 89236TKX2 TOYOTA MOTOR CREDIT CORP 5.00% 8/14/2026 3,375.00
8/15/2026 8/15/2026 9128282R0 US TREASURY N/B 2.25% 8/15/2027 2,025.00
8/15/2026 8/15/2026 91282CQA2 US TREASURY N/B 3.50% 2/15/2029 10,412.50
8/15/2026 8/15/2026 91282CNU1 US TREASURY N/B 3.62% 8/15/2028 22,837.50
8/15/2026 8/15/2026 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 4,395.81
8/24/2026 8/24/2026 46647PCW4 JPMORGAN CHASE & CO (CALLABLE) 2.94% 2/24/2028 1,620.85
8/24/2026 8/24/2026 17275RBW1 CISCO SYSTEMS INC (CALLABLE) 4.55% 2/24/2028 910.00
8/25/2026 8/25/2026 63743HFZ0 NATIONAL RURAL UTIL COOP (CALLABLE) 4.15% 8/25/2028 1,867.50
8/26/2026 8/26/2026 17275RBR2 CISCO SYSTEMS INC (CALLABLE) 4.85% 2/26/2029 6,911.25
8/26/2026 8/26/2026 166756BB1 CHEVRON USA INC (CALLABLE) 4.47% 2/26/2028 4,251.25
PFM Asset Management | pfmam.com 27

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)
INTEREST
8/28/2026 8/28/2026 857477CU5 STATE STREET CORP (CALLABLE) 4.53% 2/28/2028 6,123.60
8/31/2026 8/31/2026 91282CGP0 US TREASURY N/B 4.00% 2/29/2028 11,200.00
9/1/2026 9/1/2026 MONEY0002 MONEY MARKET FUND 0.00% 340.17
9/1/2026 9/1/2026 478160DH4 JOHNSON & JOHNSON (CALLABLE) 4.55% 3/1/2028 1,023.75
9/4/2026 9/4/2026 17327CAW3 CITIGROUP INC (CALLABLE) 4.78% 3/4/2029 3,828.80
9/13/2026 9/13/2026 023135DC7 AMAZON.COM INC (CALLABLE) 4.00% 3/13/2029 6,000.00
9/15/2026 9/15/2026 91282CQE4 US TREASURY N/B 3.50% 3/15/2029 7,437.50
9/15/2026 9/15/2026 79466LAR5 SALESFORCE INC (CALLABLE) 4.65% 3/15/2029 3,526.25
9/15/2026 9/15/2026 91282CNY3 US TREASURY N/B 3.37% 9/15/2028 6,750.00
9/15/2026 9/15/2026 91282CMS7 US TREASURY N/B 3.87% 3/15/2028 19,084.38
9/15/2026 9/15/2026 57636QBF0 MASTERCARD INC (CALLABLE) 4.55% 3/15/2028 1,592.50
9/22/2026 9/22/2026 49177JAF9 KENVUE INC (CALLABLE) 5.05% 3/22/2028 3,408.75
9/24/2026 9/24/2026 007903BJ5 ADVANCED MICRO DEVICES (CALLABLE) 4.31% 3/24/2028 2,051.53
Total INTEREST 0.00 209,840.88 0.00
MATURITY
8/14/2026 8/14/2026 135,000.00 89236TKX2 TOYOTA MOTOR CREDIT CORP 5.00% 8/14/2026 135,000.00
Total MATURITY 135,000.00 135,000.00 0.00
PFM Asset Management | pfmam.com 28

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Activity
Quarterly Portfolio Transactions
Trade Settle Maturity Transact Yield Realized
Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)
SELL
8/3/2026 8/4/2026 730,000.00 91282CLL3 US TREASURY N/B 3.37% 9/15/2027 733,090.84 -5,573.37
8/19/2026 8/20/2026 25,000.00 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 24,544.35 -392.71
8/19/2026 8/20/2026 25,000.00 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 24,544.35 -446.20
8/19/2026 8/20/2026 160,000.00 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 157,083.81 -2,862.48
8/19/2026 8/20/2026 25,000.00 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 24,544.35 -447.85
8/19/2026 8/20/2026 400,000.00 91282CKZ3 US TREASURY N/B 4.37% 7/15/2027 402,930.71 -78.10
9/1/2026 9/2/2026 340,000.00 931142ER0 WALMART INC (CALLABLE) 1.05% 9/17/2026 341,211.25 -12.59
9/1/2026 9/2/2026 180,000.00 9128282R0 US TREASURY N/B 2.25% 8/15/2027 176,935.60 -1,515.90
Total SELL 1,885,000.00 1,884,885.26 -11,329.20
PFM Asset Management | pfmam.com 29

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Activity
Quarterly Portfolio Transactions
Tran. Trade Settle Maturity Transact Yield Realized
Type Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)
BUY 7/7/2026 7/8/2026 815,000.00 91282CQV6 US TREASURY N/B 4.12% 6/15/2029 816,253.08 4.16%
BUY 7/7/2026 7/8/2026 1,750,000.00 91282CPP0 US TREASURY N/B 3.50% 12/15/2028 1,727,257.24 4.16%
BUY 7/7/2026 7/8/2026 250,000.00 17325FBT4 CITIBANK NA (CALLABLE) 4.55% 6/18/2029 250,492.50 4.57%
BUY 7/7/2026 7/8/2026 400,000.00 38151LAJ9 GOLDMAN SACHS BANK USA 4.65% 6/3/2029 402,342.67 4.60%
BUY 7/7/2026 7/8/2026 1,050,000.00 91282CMB4 US TREASURY N/B 4.00% 12/15/2027 1,050,670.59 4.13%
BUY 7/7/2026 7/8/2026 240,000.00 57636QBK9 MASTERCARD INC (CALLABLE) 4.42% 6/8/2029 240,630.60 4.46%
BUY 7/7/2026 7/8/2026 1,000,000.00 91282CQY0 US TREASURY N/B 4.12% 6/30/2028 1,000,701.43 4.13%
BUY 7/7/2026 7/8/2026 425,000.00 67066GAQ7 NVIDIA CORP (CALLABLE) 4.35% 6/15/2029 424,722.33 4.46%
BUY 8/3/2026 8/4/2026 800,000.00 91282CQZ7 US TREASURY N/B 4.12% 7/15/2029 797,637.23 4.31%
BUY 8/19/2026 8/20/2026 230,000.00 02079KCN5 ALPHABET INC (CALLABLE) 4.62% 8/10/2029 230,336.89 4.62%
BUY 9/1/2026 9/2/2026 615,000.00 91282CRG8 US TREASURY N/B 4.25% 8/15/2029 612,939.20 4.45%
INTEREST 7/1/2026 7/1/2026 MONEY0002 MONEY MARKET FUND 0.00% 15,310.13
INTEREST 7/12/2026 7/12/2026 61690DK72 MORGAN STANLEY BANK NA 5.01% 1/12/2029 4,765.20
INTEREST 7/15/2026 7/15/2026 91282CPT2 US TREASURY N/B 3.50% 1/15/2029 22,137.50
INTEREST 7/15/2026 7/15/2026 91282CKZ3 US TREASURY N/B 4.37% 7/15/2027 8,750.00
INTEREST 7/15/2026 7/15/2026 57636QBA1 MASTERCARD INC (CALLABLE) 4.10% 1/15/2028 1,845.00
INTEREST 7/23/2026 7/23/2026 06051GHM4 BANK OF AMERICA CORP (CALLABLE) 4.27% 7/23/2029 6,086.18
INTEREST 7/26/2026 7/26/2026 09290DAH4 BLACKROCK INC (CALLABLE) 4.60% 7/26/2027 2,415.00
PFM Asset Management | pfmam.com 30

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Activity
Quarterly Portfolio Transactions
Tran. Trade Settle Maturity Transact Yield Realized
Type Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)
INTEREST 8/3/2026 8/3/2026 MONEY0002 MONEY MARKET FUND 0.00% 3,824.08
INTEREST 8/7/2026 8/7/2026 06406RAB3 BANK OF NY MELLON CORP 3.44% 2/7/2028 5,851.40
INTEREST 8/7/2026 8/7/2026 713448GA0 PEPSICO INC (CALLABLE) 4.45% 2/7/2028 3,560.00
INTEREST 8/12/2026 8/12/2026 532457CU0 ELI LILLY & CO (CALLABLE) 4.55% 2/12/2028 4,322.50
INTEREST 8/14/2026 8/14/2026 89236TKX2 TOYOTA MOTOR CREDIT CORP 5.00% 8/14/2026 3,375.00
INTEREST 8/15/2026 8/15/2026 9128282R0 US TREASURY N/B 2.25% 8/15/2027 2,025.00
INTEREST 8/15/2026 8/15/2026 91282CQA2 US TREASURY N/B 3.50% 2/15/2029 10,412.50
INTEREST 8/15/2026 8/15/2026 91282CNU1 US TREASURY N/B 3.62% 8/15/2028 22,837.50
INTEREST 8/15/2026 8/15/2026 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 4,395.81
INTEREST 8/24/2026 8/24/2026 46647PCW4 JPMORGAN CHASE & CO (CALLABLE) 2.94% 2/24/2028 1,620.85
INTEREST 8/24/2026 8/24/2026 17275RBW1 CISCO SYSTEMS INC (CALLABLE) 4.55% 2/24/2028 910.00
INTEREST 8/25/2026 8/25/2026 63743HFZ0 NATIONAL RURAL UTIL COOP 4.15% 8/25/2028 1,867.50
INTEREST 8/26/2026 8/26/2026 17275RBR2 CISCO SYSTEMS INC (CALLABLE) 4.85% 2/26/2029 6,911.25
INTEREST 8/26/2026 8/26/2026 166756BB1 CHEVRON USA INC (CALLABLE) 4.47% 2/26/2028 4,251.25
INTEREST 8/28/2026 8/28/2026 857477CU5 STATE STREET CORP (CALLABLE) 4.53% 2/28/2028 6,123.60
INTEREST 8/31/2026 8/31/2026 91282CGP0 US TREASURY N/B 4.00% 2/29/2028 11,200.00
INTEREST 9/1/2026 9/1/2026 MONEY0002 MONEY MARKET FUND 0.00% 340.17
INTEREST 9/1/2026 9/1/2026 478160DH4 JOHNSON & JOHNSON (CALLABLE) 4.55% 3/1/2028 1,023.75
PFM Asset Management | pfmam.com 31

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Activity
Quarterly Portfolio Transactions
Tran. Trade Settle Maturity Transact Yield Realized
Type Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)
INTEREST 9/4/2026 9/4/2026 17327CAW3 CITIGROUP INC (CALLABLE) 4.78% 3/4/2029 3,828.80
INTEREST 9/13/2026 9/13/2026 023135DC7 AMAZON.COM INC (CALLABLE) 4.00% 3/13/2029 6,000.00
INTEREST 9/15/2026 9/15/2026 91282CQE4 US TREASURY N/B 3.50% 3/15/2029 7,437.50
INTEREST 9/15/2026 9/15/2026 79466LAR5 SALESFORCE INC (CALLABLE) 4.65% 3/15/2029 3,526.25
INTEREST 9/15/2026 9/15/2026 91282CNY3 US TREASURY N/B 3.37% 9/15/2028 6,750.00
INTEREST 9/15/2026 9/15/2026 91282CMS7 US TREASURY N/B 3.87% 3/15/2028 19,084.38
INTEREST 9/15/2026 9/15/2026 57636QBF0 MASTERCARD INC (CALLABLE) 4.55% 3/15/2028 1,592.50
INTEREST 9/22/2026 9/22/2026 49177JAF9 KENVUE INC (CALLABLE) 5.05% 3/22/2028 3,408.75
INTEREST 9/24/2026 9/24/2026 007903BJ5 ADVANCED MICRO DEVICES 4.31% 3/24/2028 2,051.53
MATURITY 8/14/2026 8/14/2026 135,000.00 89236TKX2 TOYOTA MOTOR CREDIT CORP 5.00% 8/14/2026 135,000.00
SELL 8/3/2026 8/4/2026 730,000.00 91282CLL3 US TREASURY N/B 3.37% 9/15/2027 733,090.84 -5,573.37
SELL 8/19/2026 8/20/2026 25,000.00 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 24,544.35 -392.71
SELL 8/19/2026 8/20/2026 25,000.00 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 24,544.35 -446.20
SELL 8/19/2026 8/20/2026 160,000.00 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 157,083.81 -2,862.48
SELL 8/19/2026 8/20/2026 25,000.00 02079KBJ5 ALPHABET INC (CALLABLE) 3.70% 2/15/2029 24,544.35 -447.85
SELL 8/19/2026 8/20/2026 400,000.00 91282CKZ3 US TREASURY N/B 4.37% 7/15/2027 402,930.71 -78.10
SELL 9/1/2026 9/2/2026 340,000.00 931142ER0 WALMART INC (CALLABLE) 1.05% 9/17/2026 341,211.25 -12.59
PFM Asset Management | pfmam.com 32

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Portfolio Activity
Quarterly Portfolio Transactions
Tran. Trade Settle Maturity Transact Yield Realized
Type Date Date Par ($) CUSIP Security Description Coupon Date Amount ($) at Market G/L (BV)
SELL 9/1/2026 9/2/2026 180,000.00 9128282R0 US TREASURY N/B 2.25% 8/15/2027 176,935.60 -1,515.90
TOTALS 9,595,000.00 9,783,709.90 -11,329.20
PFM Asset Management | pfmam.com 33

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Appendix
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard
to any specific objectives or financial circumstances.
PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sources
external to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We
rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements.
While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to
particular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index
characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit
tiers on the portion of the strategy rated by a NRSRO.
It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.
Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any
sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment
performance to be lower than the performance shown.
The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast,
projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion
as of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as
actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and
data presented are not necessarily indicative of future events or expected performance.
PFM Asset Management serves clients in the public sector and is a division of U.S. Bancorp Asset Management, Inc., which is the legal entity providing investment
advisory services. U.S. Bancorp Asset Management, Inc. is a registered investment adviser, a direct subsidiary of U.S. Bank N.A. and an indirect subsidiary of U.S.
Bancorp. U.S. Bank N.A. is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Asset Management, Inc. The
information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.
For more information regarding PFMAM's services or entities, please visit www.pfmam.com.
Further distribution is not permitted without prior written consent.
PFM Asset Management | pfmam.com 34

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Appendix
Important Disclosures
Generally, PFMAM’s market prices are derived from closing bid prices as of the last business day of the month as supplied by ICE Data Services. There may be
differences in the values shown for investments due to accrued but uncollected income and the use of differing valuation sources and methods. Non-negotiable
FDIC-insured bank certificates of deposit are priced at par. Although PFMAM believes the prices to be reliable, the values of the securities may not represent the
prices at which the securities could have been bought or sold. Explanation of the valuation methods for a registered investment company or local government
investment program is contained in the appropriate fund offering documentation or information statement.
In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly
balances, and forward settling sales are excluded.
Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown
gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past
performance is not indicative of future returns.
ICE Bank of America Indices provided by Bloomberg Financial Markets.
Money market fund/cash balances are included in performance and duration computations.
Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.
Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.
MBS maturities are represented by expected average life.
PFM Asset Management | pfmam.com 35

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Appendix
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.
Agencies: Federal agency securities and/or Government-sponsored enterprises.
Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase
date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized
on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.
Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans,
leases, credit card balances, and receivables.
Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.
Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.
Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector added
or subtracted from the overall portfolio performance.
Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.
Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding
on investment returns, while nominal yield does not.
FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.
Interest Rate: Interest per year divided by principal amount and expressed as a percentage.
Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.
Maturity: The date upon which the principal or stated value of an investment becomes due and payable.
Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.
Par Value: The nominal dollar face amount of a security.
Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the
mortgage-backed security.
PFM Asset Management | pfmam.com 36

For the Quarter Ended September 30, 2026
CITY OF CHANDLER Appendix
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.
Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and
maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.
Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose
decisions are binding on its members.
Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.
Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.
U.S. Treasury: The department of the U.S. government that issues Treasury securities.
Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a
percentage on an annualized basis.
YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period
from purchase date to maturity, stated as a percentage on an annualized basis.
YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time
period remaining until maturity, stated as a percentage on an annualized basis.
PFM Asset Management | pfmam.com 37