NOTICE OF BOND SALE Time and Place of Sealed Bids: Bids for the sale of Bonds of the City of Des Moines, State of Iowa, hereafter described, must be received at the office of the Finance Director/Treasurer, 400 Robert D. Ray Drive, Des Moines, Iowa (the "Issuer") before 10:00 A.M., on the 8th day of October, 2025. The bids will then be publicly opened and referred for action to the meeting of the City Council in conformity with the TERMS OF OFFERING. The Bonds: The Bonds to be offered are the following: GENERAL OBLIGATION BONDS, SERIES 2025A, in the amount of $69,980,000*, to be dated November 12, 2025 TAXABLE GENERAL OBLIGATION BONDS, SERIES 2025B, in the amount of $6,035,000*, to be dated November 12, 2025 (collectively the "Bonds") *Subject to principal adjustment pursuant to official Terms of Offering. Manner of Bidding: Open bids will not be received. Bids will be received in any of the following methods: Sealed Bidding: Sealed bids may be submitted and will be received at the office of the Finance Director/Treasurer at City Hall, 400 Robert D. Ray Drive, Des Moines, Iowa 50309. Electronic Internet Bidding: Electronic internet bids will be received at the office of the Finance Director/Treasurer at 400 Robert D. Ray Drive, Des Moines, Iowa, 50309, and/or City's Municipal Advisor, PFM Advisors LLC, 801 Grand Avenue, Suite 3300, Des Moines, Iowa 50309. The bids must be submitted through the PARITY® competitive bidding system. Consideration of Bids: After the time for receipt of bids has passed, the close of sealed bids will be announced. Sealed bids will then be publicly opened and announced. Finally, electronic internet bids will be accessed and announced. Sale and Award: The sale and award of the Bonds will be held at the Council Chambers, City Hall, Des Moines, Iowa at a meeting of the City Council on the above date at 4:30 P.M. Official Statement: The Issuer has issued an Official Statement of information pertaining to the Bonds to be offered, including a statement of the Terms of Offering and an Official Bid Form, which is incorporated by reference as a part of this notice. The Official Statement may be obtained by request addressed to the City's Finance Director/Treasurer, 400 Robert D. Ray Drive, Des Moines, Iowa 50309, telephone 515-283-4540 or the Issuer's Municipal Advisor, PFM Financial Advisors LLC, 801 Grand Avenue, Suite 3300, Des Moines, Iowa, 50309, telephone 515-724-5724. Terms of Offering: All bids shall be in conformity with and the sale shall be in accordance with the Terms of Offering as set forth in the Official Statement. Legal Opinion: The Bonds will be sold subject to the opinion of Ahlers & Cooney, P.C., Attorneys of Des Moines, Iowa, as to the legality and their opinion will be furnished together with the printed Bonds without cost to the purchaser and all bids will be so conditioned. Except to the extent necessary to issue their opinion as to the legality of the Bonds, the attorneys will not examine or review or express any opinion with respect to the accuracy or completeness of documents, materials or statements made or furnished in connection with the sale, issuance or marketing of the Bonds. Rights Reserved: The right is reserved to reject any or all bids, and to waive any irregularities as deemed to be in the best interests of the public. By order of the City Council of the City of Des Moines, State of Iowa. Laura Baumgartner City Clerk, City of Des Moines, State of Iowa October 1 2025 LIOW0377427