The Rate Rundown: Max Offered Rates Trending Stable to Modestly Lower in May

Research evidence excerpt

The Rate Rundown: Max Offered Rates Trending Stable to Modestly Lower in May

ect security(ies) and subject

company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed

in this research report.

I, Max Asteris, CFA, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject

As is the case with all Jefferies employees, the analyst(s) responsible for the coverage of the financial instruments discussed in this report receives compensation

based in part on the overall performance of the firm, including investment banking income. We seek to update our research as appropriate, but various regulations

may prevent us from doing so. Aside from certain industry reports published on a periodic basis, the large majority of reports are published at irregular intervals

as appropriate in the analyst's judgement.

Investment Recommendation Record

(Article 3(1)e and Article 7 of MAR)

Recommendation Published May 11, 2026 20:07 P.M.

Recommendation Distributed May 12, 2026 0:01 A.M.

Company Specific Disclosures

Steven DeSanctis owns shares of Bank of America common shares.

Steven DeSanctis owns shares of JPMorgan Chase common stock.

Jefferies Financial Group Inc., its affiliates or subsidiaries make a market in the securities or ADRs of Fifth Third Bancorp.

Jefferies Financial Group Inc., its affiliates or subsidiaries make a market in the securities or ADRs of Huntington Bancshares Inc/OH.

Jefferies Financial Group Inc., its affiliates or subsidiaries make a market in the securities or ADRs of Old National Bancorp.

Within the past twelve months, Jefferies Financial Group Inc.