This announcement shall not constitute an offer to sell, nor a solicitation of an offer to buy, nor shall there be any sale of these securities, by any persons in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Before deciding to purchase any 2026 Port Revenue Bonds, Series A (AMT) (the "2026 Series A Bonds"), investors should consult their tax advisors to determine the applicable federal, state and local tax consequences of owning the 2026 Series A Bonds. PROPOSED TAX-EXEMPT OFFERING $365,500,000 Municipality of Anchorage, Alaska 2026 Port Revenue Bonds, Series A (AMT) Sale Date: Monday, July 20, 2026* Sale Date is subject to acceleration Ratings: S&P "A-" / Kroll "A" Maturities range from 2028 to 2067* Bonds will be available in $5,000 denominations Bonds are expected to be delivered July 28, 2026* The Preliminary Official Statement may be obtained from: Municipality of Anchorage, Alaska | MuniOS Jefferies J.P. Morgan Securities, LLC Merrill (800) 567-8567 (212) 834-7155 (907) 564-6681 Ramirez & Co., Inc. Truist Services Wells Fargo Bank, N.A. (212) 248-3870 (980) 333-6604 Municipal Finance Group (704) 410-4043 In the opinion of Orrick, Herrington & Sutcliffe LLP, Bond Counsel ("Bond Counsel") to the Municipality of Anchorage, Alaska (the "Municipality"), based upon an analysis of existing laws, regulations, rulings and court decisions and assuming, among other matters, the accuracy of certain representations and compliance with certain covenants, interest on the 2026 Series A Bonds is excluded from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986 (the "Code"), except that no opinion is expressed as to the status of interest on any 2026 Series A Bond for any period that such 2026 Series A Bond is held by a "substantial user" of the facilities financed or refinanced by the 2026 Series A Bonds or by a "related person" within the meaning of Section 147(a) of the Code. Bond Counsel observes, however, that interest on the 2026 Series A Bonds is a specific preference item for purposes of the federal individual alternative minimum tax and interest on the 2026 Series A Bonds included in adjusted financial statement income of certain corporations is not excluded from the federal corporate alternative minimum tax. Bond Counsel also is of the opinion based upon existing laws of the State of Alaska that interest on the 2026 Series A Bonds is exempt from taxation by the State of Alaska except for transfer, inheritance, and estate taxes. Bond Counsel expresses no opinion regarding any other tax consequences related to the ownership or disposition of, or the amount, accrual or receipt of interest on, the 2026 Series A Bonds. See "TAX MATTERS" in the Preliminary Official Statement for a discussion of the opinion of Bond Counsel. The 2026 Series A Bonds are expected to be made available to Alaska residents on a priority basis during the order period beginning on July 14, 2026. The 2026 Series A Bonds will be offered only by means of the Preliminary Official Statement which should be read in its entirety. To access the Preliminary Official Statement, please visit Municipality of Anchorage, Alaska | MuniOS. For further information relating to the proposed new issuance of the 2026 Series A Bonds, contact any one of the above broker-dealers listed or any other registered investment broker in the State of Alaska. ____________________________ * Preliminary, subject to change.