Regression: AMMD = 67.5% • AUST et O O 1:1 movement O O Historical O Regression OO 0.2% 0.4% 0.6% O MoM change in 30y UST I 30y UST — MMD Spread 0.5% 0.0% /3 -0.5% -1.0% -1.5% -2.0% etle. de. o 2.0% 3.0% 4.0% 50% 6.0% 70% 8.0% 30y UST Yields Historical Statistics using UST Sell-