Reso 2026-061 2025 Q4 OPEB Trust & Pension Trust Investment Report

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QUARTERLY MARKET SUMMARY For the Quarter Ended December 31, 2025 Multi-Asset Class Management Index or Average Name QTD YTD One Year Three Year Five Year Seven Year Ten Year DOMESTIC EQUITY S&P 500 (TR)2.66% 17.88% 17.88% 22.98% 14.42% 17.28% 14.81% Russell 3000 2.40% 17.15% 17.15% 22.22% 13.14% 16.63% 14.27% Russell 1000 Growth 1.12% 18.56% 18.56% 31.12% 15.31% 21.23% 18.11% Russell 1000 2.41% 17.37% 17.37% 22.72% 13.58% 17.01% 14.58% Russell 1000 Value 3.81% 15.91% 15.91% 13.88% 11.32% 12.09% 10.52% Russell Midcap 0.16% 10.60% 10.60% 14.34% 8.67% 12.74% 11.00% Russell Midcap Growth -3.70% 8.66% 8.66% 18.62% 6.64% 14.19% 12.48% Russell Midcap Value 1.42% 11.05% 11.05% 12.26% 9.82% 11.40% 9.77% Russell 2000 Growth 1.22% 13.01% 13.01% 15.57% 3.18% 10.58% 9.57% Russell 2000 2.19% 12.81% 12.81% 13.72% 6.09% 10.59% 9.61% Russell 2000 Value 3.26% 12.59% 12.59% 11.72% 8.87% 10.08% 9.26% INTERNATIONAL EQUITY MSCI EAFE 4.86% 31.22% 31.22% 17.21% 8.92% 10.53% 8.18% MSCI AC World 3.29% 22.34% 22.34% 20.63% 11.19% 13.98% 11.71% MSCI AC World ex USA 5.05% 32.39% 32.39% 17.32% 7.90% 10.14% 8.41% MSCI AC World ex USA Small Cap 2.96% 29.26% 29.26% 15.59% 6.90% 10.03% 8.12% MSCI EM (Emerging Markets)4.73% 33.57% 33.57% 16.38% 4.19% 8.05% 8.41% ALTERNATIVES FTSE Nareit/Equity REITs - INV -1.56% 2.88% 2.88% 8.35% 6.62% 6.92% 5.69% MSCI U.S. REIT INDEX -1.69% 2.95% 2.95% 8.38% 6.58% 6.93% 5.70% MSCI World Core Infrastructure 0.32% 15.85% 15.85% 8.40% 6.56% 8.10% 8.31% FIXED INCOME Bloomberg U.S. Aggregate 1.10% 7.30% 7.30% 4.66% -0.36% 1.99% 2.01% Bloomberg U.S. Government/Credit 0.90% 6.88% 6.88% 4.56% -0.59% 2.14% 2.16% Bloomberg U.S. Intermediate Government/Credit 1.20% 6.97% 6.97% 5.05% 0.96% 2.54% 2.29% Bloomberg U.S. Treasury (1-3 Y) 1.14% 5.17% 5.17% 4.49% 1.75% 2.21% 1.83% ICE BofA U.S. High Yield 1.35% 8.50% 8.50% 10.02% 4.49% 6.09% 6.44% Bloomberg Global Aggregate 0.24% 8.17% 8.17% 3.98% -2.14% 0.65% 1.26% CASH EQUIVALENT Bloomberg 3 Month T-Bill 0.99% 4.23% 4.23% 4.89% 3.22% 2.72% 2.21% Source: Investment Metrics. Returns are expressed as percentages. Please refer to the last page of this document for important disclosures relating to this material. 2.1 Exhibit A Resolution No. 2026-061