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SCOPE APPENDIX to Engagement Letter dated: February 14, 2024 Between the City of Elk River, Minnesotaand Baker Tilly US, LLP Client agrees to timely provide BTMA with accurate information concerning cash and investment activity within all funds relative to the subject Debt Obligations. The information to be provided shall include: 1.Deposits and withdrawals of proceeds or money from other sources within any funds subject to the IRS arbitrage rules; 2.Payments of principal and interest on the Debt Obligations; and 3.All investment activity including: a.Date of purchase or acquisition; b.Purchase price of investments including any accrued interest; c.Face amount and maturity date; d.Stated rate of interest; e.Interest payment dates; f.Date of sale, transfer, or other disposition; g.Sale or disposition price; and h.Accrued interest due on the date of sale or disposition. 4.The Client will provide copies of Debt Obligation offering or legal documents, including, but not limited to, the official statement, the information return filed upon issuance (Form 8038 or 8038-G), thearbitrage certificate, verification report and the bond ordinance/trust indenture. 5.Any other information necessary for BTMA to make the calculations required for the specified Debt Obligation. The Client is responsible for annually confirming the Authorization Listing and for notifying BTMA of any of the following: >additional or subsequent Debt Obligations that would require arbitrage monitoring services; >redemptions/refundingsof Debt Obligations that would affect the reporting period designated in the most recent Authorization Listing. Our engagement will not include verifying that: proceeds were used for purpose expenditures; investments were purchased at market price; no amounts were paid to any party in order to reduce the yield on any investment; the Debt Obligation was appropriatelystructured or qualified as a tax-exempt offering; or information provided to us is complete and accurate. During the performance of these procedures, it may become necessary for us to consult with your bond counsel and/or obtain information from them concerning interpretations of the above information as affected by applicable sections of the Internal Revenue Code. We will consult with you before any such action is initiated. Subsequent changes in official interpretations of the tax law may require or permit revision of calculations by requiring or permitting a different methodology for the calculation of arbitrage rebate and yield reduction. We will be under no obligation to update our report for any events occurring, or data or information coming to our attention, subsequent to the issuance of our report. Calculation and payment of any arbitrage rebate liability and yield reduction payment due is the responsibility of the Client. As such, management has the primary responsibility for the arbitrage rebate and/or yield reduction payment return which the Client may be required to file. You should review the report and calculations carefully upon receipt. Page SA-10| 18 (Scopev20230309)