BYLAWS OF THE FEDERAL HOME LOAN MORTGAGE CORPORATION As amended and restated July 7, 2016

FREDDIE MAC BYLAWS TABLE OF CONTENTS Page ARTICLE 1

OFFICES ............................................................................................. 1

Section 1.1 ARTICLE 2

Offices. ..................................................................................... 1

CAPITAL STOCK ................................................................................ 1

Section 2.1

Issuance. .................................................................................. 1

Section 2.2

Common Stock. ........................................................................ 1

Section 2.3

Preferred Stock ......................................................................... 1

Section 2.4

Consideration............................................................................ 1

Section 2.5

Shares Owned by the Corporation............................................ 1

Section 2.6

Fractional Shares...................................................................... 2

Section 2.7

Certificates. ............................................................................... 2

Section 2.8

Transfer of Shares .................................................................... 2

Section 2.9

Lost, Destroyed and Mutilated Certificates ............................... 3

Section 2.10

Fixing a Record Date ................................................................ 3

Section 2.11

Record of Stockholders ............................................................ 4

Section 2.12

Ownership of Shares ................................................................ 4

Section 2.13

Share Options and Other Instruments ...................................... 4

ARTICLE 3

MEETINGS OF THE STOCKHOLDERS ............................................. 4

Section 3.1

Annual Meetings ....................................................................... 4

Section 3.2

Special Meetings. ..................................................................... 5

Section 3.3

Notice of Meetings .................................................................... 6

Section 3.4

Quorum ..................................................................................... 8

Section 3.5

Organization ............................................................................. 8

Section 3.6

Conduct of Business ................................................................. 8

Section 3.7

Voting ..................................................................................... 10

Section 3.8

Voting Entitlement of Shares .................................................. 11

Section 3.9

Proxies .................................................................................... 12

Section 3.10

Stockholders’ List.................................................................... 12

ARTICLE 4

BOARD OF DIRECTORS .................................................................. 13

Section 4.1

General Powers. ..................................................................... 13

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TABLE OF CONTENTS (continued) Page Section 4.2

Number, Qualification and Term of Office. .............................. 13

Section 4.3

Nominations .............................................................