Co-Manager and Selling Group Members Policy

Nebraska Investment Finance Authority Single Family Housing Revenue Bonds Co-Managers and Selling Group Members Policy

Effective July 1, 2026

The Nebraska Investment Finance Authority (“NIFA”) has established a Co-Manager and Selling Group Syndicate Policy (the “Policy”), effective July 1, 2026, to govern the composition and participation of underwriting syndicates for issuances under its Single Family Housing Revenue Bond program.  The Policy is intended to promote transparency, efficiency, and consistent participation across underwriting firms supporting NIFA’s Single Family Housing Revenue Bond program.  The Policy will be in effect until June 30, 2028, however, NIFA reserves the right to amend or cancel the Policy at its discretion at any time.

Under this Policy, NIFA:

• Designates a group of Continuous Co-Managers; and
• Establishes two rotating syndicate groups comprised of Designated Co-Managers and Selling Group Members
• In a nod to unique Nebraska features, the two rotating syndicate groups will be identified as the “Sandhills Team” and the “Prairie Team.”

While this policy is in effect, for each bond issuance pursuant to the Single Family Housing Revenue Bonds Indenture, the underwriting syndicate will consist of:

• The Senior Manager;
• The Continuous Co-Managers; and
• Either the Sandhills Team or the Prairie Team, as determined by NIFA

Continuous Co-Managers

• Ameritas Investment Services

• D.A. Davidson

• Fidelity

• Northland Securities

Designated Co-Managers and Selling Group Members

Sandhills Team	Prairie Team
Designated Co-Managers:	Designated Co-Managers:
-BofA Securities	-Raymond James & Associates, Inc
-RBC Capital Markets	-Wells Fargo
Selling Group Members:	Selling Group Members:
-Baird (Robert W. Baird & Co.)	-Oppenheimer & Co. Inc.
-Piper Sandler & Co	-Stifel, Nicolaus & Company, Inc.

NIFA’s current intention is to rotate participation between the Sandhills Team and the Prairie Team across successive financings.  In addition, NIFA intends to review composition of the Continuous Co-Managers, the Sandhills Team, and the Prairie Team on a periodic basis, but not less frequently than once per fiscal year.

Amendments and Termination

NIFA reserves the right, in its sole discretion, to amend, revise, suspend, or terminate this Policy, in whole or in part, at any time, without prior notice.

If you have any questions, please direct them to finance@nifa.org