$23,000,000* SCOTTS VALLEY UNIFIED SCHOOL DISTRICT (Santa Cruz County, California) General Obligation Bonds 2024 Election, Series A-1 (Tax-Exempt) $7,000,000* SCOTTS VALLEY UNIFIED SCHOOL DISTRICT (Santa Cruz County, California) General Obligation Bonds 2024 Election, Series A-2 (Federally Taxable) $11,000,000* SCOTTS VALLEY UNIFIED SCHOOL DISTRICT (Santa Cruz County, California) 2025 Refunding General Obligation Bonds (Tax-Exempt) POS POSTED 4-17-25

$23,000,000* SCOTTS VALLEY UNIFIED SCHOOL DISTRICT (Santa Cruz County, California) General Obligation Bonds 2024 Election, Series A-1 (Tax-Exempt) $7,000,000* SCOTTS VALLEY UNIFIED SCHOOL DISTRICT (Santa Cruz County, California) General Obligation Bonds 2024 Election, Series A-2 (Federally Taxable) $11,000,000* SCOTTS VALLEY UNIFIED SCHOOL DISTRICT (Santa Cruz County, California) 2025 Refunding General Obligation Bonds (Tax-Exempt) POS POSTED 4-17-25

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$965,475,000* AGGREGATE PRINCIPAL AMOUNT $415,990,000* LOS ANGELES UNIFIED SCHOOL DISTRICT (County of Los Angeles, California) Election of 2024, General Obligation Bonds, US Series A-1 (2025) Federally Tax-Exempt (Dedicated Unlimited Ad Valorem Property Tax Bonds) $44,440,000* LOS ANGELES UNIFIED SCHOOL DISTRICT (County of Los Angeles, California) Election of 2024, General Obligation Bonds, US Series A-2 (2025) Federally Taxable (Dedicated Unlimited Ad Valorem Property Tax Bonds) $239,570,000* LOS ANGELES UNIFIED SCHOOL DISTRICT (County of Los Angeles, California) Election of 2024, General Obligation Bonds, US Series B (2025) Federally Taxable (Dedicated Unlimited Ad Valorem Property Tax Bonds) $265,475,000* LOS ANGELES UNIFIED SCHOOL DISTRICT (County of Los Angeles, California) 2025 General Obligation Refunding Bonds, Series A (Dedicated Unlimited Ad Valorem Property Tax Bonds) POS + INVESTOR PRESENTATION POSTED 4-14-25

$965,475,000* AGGREGATE PRINCIPAL AMOUNT $415,990,000* LOS ANGELES UNIFIED SCHOOL DISTRICT (County of Los Angeles, California) Election of 2024, General Obligation Bonds, US Series A-1 (2025) Federally Tax-Exempt (Dedicated Unlimited Ad Valorem Property Tax Bonds) $44,440,000* LOS ANGELES UNIFIED SCHOOL DISTRICT (County of Los Angeles, California) Election of 2024, General Obligation Bonds, US Series A-2 (2025) Federally Taxable (Dedicated Unlimited Ad Valorem Property Tax Bonds) $239,570,000* LOS ANGELES UNIFIED SCHOOL DISTRICT (County of Los Angeles, California) Election of 2024, General Obligation Bonds, US Series B (2025) Federally Taxable (Dedicated Unlimited Ad Valorem Property Tax Bonds) $265,475,000* LOS ANGELES UNIFIED SCHOOL DISTRICT (County of Los Angeles, California) 2025 General Obligation Refunding Bonds, Series A (Dedicated Unlimited Ad Valorem Property Tax Bonds) POS + INVESTOR PRESENTATION POSTED 4-14-25

PRELIMINARY OFFICIAL STATEMENT INVESTOR PRESENTATION

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