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REV: 07-22-2021 MI Daily Investment Procedures The Consultant portfolio management team will review the City’s portfolio on a daily basis. The team will discuss market developments, product offerings, new issues, and the potential impact of pending economic announcements will affect the portfolio. The team will also review portfolio holdings, upcoming maturities, cash flows, and any other specific directives. If a trade is identified, the trade process starts with a review of market conditions and relative value relationships. In strict compliance with the City’s Investment Policy, Consultant will decide what sector and maturity to purchase—the one with the best available combination of return and risk characteristics and which fulfills a need within the portfolio. Once executed, full details of all trades, including competitive bids and offers, will be provided to the City’s staff on the same day as execution. The City will also have access to all trading activity through Consultant’s internet reporting site, Easy Online Network (“EON”), the day after the trade and will receive a complete reconciled reporting of transactions and holdings on a monthly basis. In addition, members of Consultant‘s engagement team will be available to answer any of the City’s questions as needed. Reporting Consultant will use a sophisticated portfolio management, reporting, and investment accounting system, CAMRA, (or its equivalent) to provide accurate and timely reports on security transactions and portfolio positions and to track credit quality on issuers and securities. Report include fair value, original and amortized cost, interest accruals, purchases and sales of accrued interest, and more. CAMRA also provides the data used for making decisions on investments. It interacts with Charles River, Consultant’s compliance software used to ensure adherence with investment policies and to measure portfolio performance. Daily Holdings (Internet only) Daily Transactions (Internet only) Daily Accounting Statement (Internet and by mail) Monthly (Available online by the 3rd business day and mailed by the 5th business day) Market Commentary (Internet) Monthly Performance Report (In-person meeting, Internet, and by mail) Quarterly (Available 30-40 days after quarter-end, depending on required exhibits) City will be able to log in through the Consultant portfolio-reporting website, to view past monthly portfolio statements, holdings as of the prior trading day, and the current month’s transactions through the prior trading day. Monthly statements will typically be available ATTY/AGR.2021.129/PFM Asset Management LLC (Investment Advisory Services) (Page 15 of 17)