Company: AGM-PH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000845877-25-000143
Chunk: 99

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 99
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, among other things, received from PricewaterhouseCoopers LLP the written disclosures as required by applicable requirements of the PCAOB regarding the independent accountants' communications with the Audit Committee concerning independence, and discussed with them their independence from Farmer Mac and its management. The Audit Committee has reviewed and pre-approved the audit fees of the independent auditor. It also has approved non-audit services and reviewed fees for services to assure compliance with applicable provisions of the Exchange Act and applicable rules and regulations to assure compliance with the auditor independence requirements that prohibit independent auditors from performing specified services that might impair their independence, as well as compliance with Farmer Mac's and the Audit Committee's policies. The Audit Committee discussed with Farmer Mac's independent auditor the overall scope of and plans for its audit. Finally, the Audit Committee continued to monitor the scope and adequacy of Farmer Mac's internal auditing program, including proposals for adequate staffing and to strengthen internal procedures and controls where appropriate. In reliance upon these reviews and discussions, the Audit Committee recommended to the Board of Directors that the Board approve the inclusion of Farmer Mac's audited consolidated financial statements in Farmer Mac's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 for filing with the Securities and Exchange Commission, as filed on February 21, 2025. Audit Committee

| Charles A. Stones, Chair |     |                   |
| James R. Engebretsen     |     | Eric T. McKissack |
| Jeffrey L. Plagge        |     | Robert G. Sexton  |

| 62 |

| AUDIT MATTERS |

### AUDIT MATTERS
| Audit Fees |

Farmer Mac incurred an aggregate of $2,160,000 in fees for 2024 and $1,915,000 in fees for 2023 for professional services rendered by PricewaterhouseCoopers LLP for the audit of Farmer Mac's 2024 and 2023 annual financial statements included in Farmer Mac's annual reports on Form 10-K, the audit of management's assessment of the effectiveness of internal control over financial reporting under Section 404 of the Sarbanes-Oxley Act of 2002, and the review of the financial statements included in Farmer Mac's quarterly reports on Form 10-Q during 2024 and 2023. Farmer Mac incurred an aggregate of $16,000 for out-of-pocket expenses billed by PricewaterhouseCoopers LLP for 2024, and $8,000 for 2023,