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Note: Formal results of the Annual Meeting cannot be displayed until each member is verified. via email within the next two business days. AAFMAA Board as of 9 June 2020

DENNIS J. REIMER JOHN A. DUBIA WILLIAM M. MATZ, JR. MICHAEL J. MEESE MG, USA, Retired

Executive Committee Executive GEN, USA, Retired LTG, USA, Retired BG, USA, Retired Chairman, Board of Directors Chairman, Membership Committee Chairman, Finance Committee President

WILLIAM M. MATZ, JR. DENNIS D. PORTER JOHN T. RIDGE MACK C. HILL ELISABETH J. STRINES

Finance Committee Finance MG, USA, Retired COL, USA, Retired CMSgt, USAF, Retired BG, USA, Retired COL, USAF, Retired Chairman, Finance Committee Vice Chair, Finance Committee Chairman, Audit Sub-Committee

JOHN A. DUBIA JANICE M. HAMBY LEWIS E. MONROE, III WILSON A. (BUD) SHATZER, JR. JONATHAN D. GEORGE ROBIN H. BOUDIETTE, JR. GEORGE L. HORVATH DAVID G. REIST LTG, USA, Retired RADM, USN, Retired CMSgt, USAF, Retired COL, USA, Retired Brig Gen, USAF, Retired CW3, USA Retired CSM, USA, Retired BGen. USMC, Ret.

Membership Committee Membership Chairman, Membership Committee Vice Chair, Membership Committee AAFMAA’s Mission To be the premier provider of insurance, financial and survivor services to the American Armed Forces community. AAFMAA Membership 85,315 Members Active Duty 35%

Retired 59%

Veterans 6% AAFMAA

● Value Added Whole Life Solid in Existing ● Level Term 1 (less than SGLI) Basis Policies ● Level Term 2 (less than VGLI) ● Generations Plus

● ANNUITYLife® – Immediate Annuitization New Products ● Wealth Builder Life Insurance: Growth and Future Annuitization Developed or ● Veteran Survivor Plan Improved Sales NEAL PELLETIER NEAL Manager, Sales

Member Benefits LTC JerryQuinn, Chief Operating Officer Operating Chief Manager, Member and Membership Coordinator and Secretary and Survivor BenefitsSurvivor LYNE BABIN SANDY BONINA USAR Why AAFMAA Life Insurance? Life AAFMAAWhy Te JENNY CAMPBELL Membership Coordinator am Leader, Member JAMIE COLE COLE JAMIE Benefits

Survivor Assistance Services TeamVA Leader, Benefits JODEE NEUMANN Membership Coordinator MICHAEL CUMMINGS Team Survivor Leader, Coordinator PAUL HAWES Benefits Membership Member and Survivor Survivor Member and Benefits Coordinator RONAN GRIFFIN DALE M.HAWLEY DEBORAH LOGAN Survivor BenefitsSurvivor Representative Coordinator Membership Coordinator AMY MAROTTO Member Representative RICK MOSBY Benefits AMANDA MULLEN Survivor BenefitsSurvivor Representative Veterans AffairsCoordinator VERONIKA PETROVA VERONIKA Membership Coordinator HOLLY SHOCKEY Membership Coordinator KAREN WHITEHEAD AAFMAA Wealth Management & Trust LLC (AWM&T) LTC Steve Mannell, USA, Ret., CTFA

AWM&T Relationships Member Assets Under Management

166 $74 M 139

110 $48 M $44 M 86 65 $32 M 40 $23 M $14 M 12 2 $2 M $4 M

2012 2013 2014 2015 2016 2017 2018 2019 2012 2013 2014 2015 2016 2017 2018 2019 Why AAFMAA AAFMAA Why

Relationship Managers DANIELLE NUXOLL GARY BROWN AWM&T Relationship Managers

Senior Relationship

Managers Wealth CHRISTINA DELL’AQUILA,CTFA SARAH BUMGARDNER TONY OLIVER OLIVER TONY Tennessee Georgia North Carolina Management & Trust (AWM&T)? Trust & Management JOE FARELLA, JOE Washington, D.C. Metro Area D.C. Metro Washington, Washington, D.C. Metro Area D.C. Metro Washington, JOHN SLEDGIANOWSKI STEVE GALING STEVE Colorado CFP®,CLU®, CWS® Washington, D.C. Metro Area D.C. Metro Washington, GARRETT N. SORENSEN KATIE GUSHEN YOUNG PARK Michigan Tennessee MATTHEW J.HICKS CINTHIA WILKINSON Connecticut Colorado AAFMAA Mortgage Services (AMS) LLC Jeff Havener

AMS Licensed States Annual Mortgage Loan Volume

$113 M

$42 M

$17 M $4 M

2016 2017 2018 2019 Reston, VA B NMLS: 181846 LAWRIE VICK ranch Manager

Fayetteville, NC BRIAN SHOTWELL B NMLS: 457598 RICK MAINES ranch Manager N MLS: 131920 Wilmington, NC Why AAFMAA AAFMAA Why AMS Military Mortgage Advisors Mortgage Military AMS KEVIN R. CROOKS,JR. B NMLS: 119281 ranch Manager AMANDA LUCAS NMLS: 1324402 N KEVIN IUPPA KEVIN MLS: 915902 NMLS BOB KERLIN SAMUEL GETACHEW N ARBIE ADKINS MLS: 1950458 NMLS: 1108450 : 1748176 Mortgage Mortgage CLARA DOMINGUEZ NMLS: COREY K. RIGGS N MLS: 146741 929671 NMLS: 276425 SUZY KREBS DONALD RIVERS NMLS: NMLS: 1743005 RICK CRATER 1733185 Services? Virginia Beach, VA EDUARDO FLOTA NMLS: FAY SILVERMAN FAY B NMLS: 144133 ranch Manager 455420 NMLS: 1832264 SCOTT BETZ SCOTT TYLER GOURLEY TYLER NMLS: 1528626 N MLS: 924809 DALE POE DALE JOHN LAVELLE JOHN N MLS: MLS: 298076 Related Party Accrued Investment Receivables Property & Cash & Cash Income Equipment Equivalents

Other Assets Policy Holder Loans

Summary of Assets: 2019 Equity Securities 3.7% Net Yield on Assets for 2019 Corporate Bonds

Investement in Subsidiaries

US & Foreign Govt Obligations

Real Estate Mortgages AAFMAA Crediting Rates for 2020

Industry Leading Crediting Rates For Our Members

PRODUCT CREDITING RATE Value Added Whole Life 5.50% ANNUITYLife®; Wealth Builder Life Insurance issued 5.50% prior to 2020

Wealth Builder Life Insurance 5.25%

ANNUITYLife® 5.00% 2019 Summary Statement of Income INCOME

Premiums, Dues, Supplemental Contracts...... $ 54,227,212 Net Investment Income and Capital Gains...... 53,703,221 Amortization of Interest Maintenance Reserve...... 6,214,045 TOTAL INCOME ...... $ 114,144,478 BENEFITS AND EXPENSES Death Benefit Claims ...... $ 82,489,193 Less War Claims ...... (1,600,000) Plus Actuarial Adjustment ...... 279,202 Net Death Benefit Claims ...... $ 81,168,395 Surrender Benefits ...... 9,931,567 Supplemental Contracts Payments ...... 2,024,052 Insurance Expense ...... (2,375,503) General Administrative and Operation Expenses ...... 15,842,883

TOTAL BENEFITS AND EXPENSES...... (106,591,394) Excess Interest Credited to Policies ...... (6,536,793)

NET INCOME...... $ 1,016,291

15 LTG JOHN A. DUBIA, USA, Ret. Chairman, Membership Committee

AAFMAA Board BGEN DAVID G. REIST, USMC, RET. Members for Election/Reelection

COL WILSON A. (BUD) SHATZER, USA, RET.