Federated California Municipal Cash Trust (SS) CACXX

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Federated California Municipal Cash Trust (SS) CACXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CAP CII CS IV SS WS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 Federal Regular Income Tax Information The fund paid exempt-interest dividends, as well as taxable Short and Long Term Capital Gain dividends, all of which are Form 1099-DIV reportable. Short-term capital gain distributions are fully taxable and are included in ordinary dividends. Final for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Short-Term Long-Term Total Annually 12-10-2015 12-11-2015 12-14-2015 Annually 0.0005203400 0.0001534500 0.0006737900 Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008494 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000822 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008494 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000822 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008486 Federal Alternative Minimum Tax Information All dividends are exempt from federal alternative minimum tax.

State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State The fund earned 92.51% of its income from municipal bonds in California. Additional tax-free income of 7.49% cannot be allocated to any particular state. In addition, dividends are tax-exempt if 50% or more of the fund's assets, at the end of each quarter, is invested in California or U.S. obligations. Based on this requirement, the fund paid exempt dividends. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated California Municipal Cash Trust (WS) CAIXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CAP CII CS IV SS WS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 Federal Regular Income Tax Information The fund paid exempt-interest dividends, as well as taxable Short and Long Term Capital Gain dividends, all of which are Form 1099-DIV reportable. Short-term capital gain distributions are fully taxable and are included in ordinary dividends. Final for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Short-Term Long-Term Total Annually 12-10-2015 12-11-2015 12-14-2015 Annually 0.0005203400 0.0001534500 0.0006737900 Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008494 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000822 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008494 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000822 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008486 Federal Alternative Minimum Tax Information All dividends are exempt from federal alternative minimum tax.

State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State The fund earned 92.51% of its income from municipal bonds in California. Additional tax-free income of 7.49% cannot be allocated to any particular state. In addition, dividends are tax-exempt if 50% or more of the fund's assets, at the end of each quarter, is invested in California or U.S. obligations. Based on this requirement, the fund paid exempt dividends. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Connecticut Municipal Cash Trust (SS) FCTXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CS SS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 Federal Regular Income Tax Information The fund paid exempt-interest dividends, as well as taxable Short and Long Term Capital Gain dividends, all of which are Form 1099-DIV reportable. Short-term capital gain distributions are fully taxable and are included in ordinary dividends. Final for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Short-Term Long-Term Total Annually 12-10-2015 12-11-2015 12-14-2015 Annually 0.0004570100 0.0000564500 0.0005134600 Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008494 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000822 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008494 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000822 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008486 Federal Alternative Minimum Tax Information A portion of the fund's income results from investments in private activity municipal bonds (as described in the prospectus).

While these bonds generally offer higher yields than traditional municipal bonds, the income they generate will be a preference item for purposes of calculating the Alternative Minimum Tax (AMT). Fund holdings of AMT securities will vary throughout the year. The table below lists the actual percentage of the each distribution paid by the fund which relates to AMT. Please note that the Alternative Minimum Tax percentage does not apply to Short-Term or Long-Term Capital Gain distributions. Your tax advisor can provide you with more information about this tax and your reporting of the fund distributions. Distribution Date Monthly AMT % 01-31-2015 5.38 02-28-2015 4.04 03-31-2015 3.58 04-30-2015 4.02 05-31-2015 4.81 06-30-2015 4.39 07-31-2015 4.17 08-31-2015 3.17 09-30-2015 3.12 10-31-2015 2.99 11-30-2015 2.61 12-14-2015 N/A 12-31-2015 2.45 State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State The fund earned 95.70% of its income from municipal bonds in Connecticut. Additional tax-free income of 4.30% cannot be allocated to any particular state. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Florida Municipal Cash Trust (WS) FLMXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CII CS WS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 Federal Regular Income Tax Information The fund paid exempt-interest dividends, as well as a taxable Long Term Capital Gain dividend, all of which are Form 1099-DIV reportable. Final for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Short-Term Long-Term Total Annually 12-10-2015 12-11-2015 12-14-2015 Annually 0.0000000000 0.0003260100 0.0003260100 Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008494 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000822 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008494 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000822 Daily Daily 12-31-2015 12-31-2015 Monthly 0.00000849 Federal Alternative Minimum Tax Information A portion of the fund's income results from investments in private activity municipal bonds (as described in the prospectus). While these bonds generally offer higher yields than traditional municipal bonds, the income they generate will be a

preference item for purposes of calculating the Alternative Minimum Tax (AMT). Fund holdings of AMT securities will vary throughout the year. The table below lists the actual percentage of the each distribution paid by the fund which relates to AMT. Please note that the Alternative Minimum Tax percentage does not apply to Short-Term or Long-Term Capital Gain distributions. Your tax advisor can provide you with more information about this tax and your reporting of the fund distributions. Distribution Date Monthly AMT % 01-31-2015 26.41 02-28-2015 24.40 03-31-2015 24.58 04-30-2015 27.91 05-31-2015 29.15 06-30-2015 24.25 07-31-2015 20.27 08-31-2015 17.87 09-30-2015 17.55 10-31-2015 11.22 11-30-2015 8.74 12-14-2015 N/A 12-31-2015 7.21 State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State Some states may exempt from tax the portion of dividends generated by its own municipal obligations. Because of this, a percentage of your dividends may be exempt from state or local taxes. State tax laws vary, please consult your tax advisor to determine if your state allows this exemption. State Year-to-Date % State Year-to-Date % Alabama 0.43 Montana 0.00 Alaska 0.00 Nebraska 0.00 Arizona 0.00 Nevada 0.00 Arkansas 0.00 New Hampshire 0.00 California 0.00 New Jersey 34.43 Colorado 0.00 New Mexico 0.00 Connecticut 0.00 New York 1.58 Delaware 0.00 North Carolina 0.00 District Of Columbia 0.00 North Dakota 0.00 Florida 56.74 Ohio 0.00

Georgia 0.00 Oklahoma 0.00 Hawaii 0.00 Oregon 0.00 Idaho 0.00 Pennsylvania 0.00 Illinois 1.17 Puerto Rico 0.00 Indiana 2.79 Rhode Island 0.00 Iowa 0.00 South Carolina 0.00 Kansas 0.00 South Dakota 0.00 Kentucky 0.00 Tennessee 0.00 Louisiana 0.00 Texas 0.04 Maine 0.00 Utah 0.00 Maryland 0.00 Vermont 0.00 Massachusetts 0.00 Virginia 0.00 Michigan 0.02 Washington 0.00 Minnesota 0.00 West Virginia 0.00 Mississippi 0.00 Wisconsin 0.09 Missouri 0.00 Wyoming 0.00 Additional tax-free income of 2.71% cannot be allocated to any particular state. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated New York Municipal Cash Trust (SS) FNTXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CII CS SS WS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 On October 22, 2010, Federated changed the fund number on all accounts in fund number 861 to fund number 12. This was a result of an internal system upgrade. This was a non taxable event and does not reflect change in investment or ownership. Federal Regular Income Tax Information The fund paid exempt-interest dividends, as well as taxable Short and Long Term Capital Gain dividends, all of which are Form 1099-DIV reportable. Short-term capital gain distributions are fully taxable and are included in ordinary dividends. Final for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Short-Term Long-Term Total Annually 12-10-2015 12-11-2015 12-14-2015 Annually 0.0000578300 0.0000004400 0.0000582700 Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008494 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000822 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008494 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000822

Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008486 Federal Alternative Minimum Tax Information All dividends are exempt from federal alternative minimum tax. State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State The fund earned 99.60% of its income from municipal bonds in New York. Additional tax-free income of 0.40% cannot be allocated to any particular state. In addition, dividends are tax-exempt if 50% or more of the fund's assets, at the end of each quarter, is invested in New York or U.S. obligations. Based on this requirement, the fund paid exempt dividends. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Government Obligations Fund (IS) GOIXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CAP CII CS IS PRM SS TR Mutual Fund Money Market Money Market Taxable Distributions and Tax Info as of 2015 Federal Regular Income Tax Information For federal income tax purposes, the fund paid fully taxable dividends. Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008954 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000819 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008464 Daily Daily 11-30-2015 11-30-2015 Monthly 0.000010576 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000048896 State Tax Information Percentage of Income Earned by Issuer For state income tax purposes, short-term capital gains may be taxed differently than dividends. Your tax advisor can determine the appropriate tax treatment in your state. If you are required to report the short-term capital gains separately, multiply the ordinary dividends figure reported on your account statement by the associated percentage listed in the chart below. Pay Date Taxable Short-Term Cap Gain % 08-31-2015 4.48 11-30-2015 20.31

The next chart lists the percentages of income earned by direct and indirect obligations, and repurchase agreement income. Since some states define income from U.S. government obligations differently, a tax advisor is best suited to determine the portion of your dividends, if any, that are subject to state tax. The Direct Federal Obligations section provides a break down of the percentage of income earned by the fund from Exempt Federal Securities by the specific direct government agencies listed. The Indirect Federal Obligations section provides a break down of the percentage of income earned by the fund from indirect U.S. Government Obligations, such as the specific agencies listed. The Repurchase Agreement Income section provides the percentage of income generated by the fund from repurchase agreements. Issuer Total Income % Direct Federal Obligations U.S Treasury 4.92 Federal Farm Credit Banks 8.14 Federal Home Loan Banks 36.73 Student Loan Marketing Association 0.00 Tennessee Valley 0.02 Other 0.00 Sub-total 49.81 Indirect Federal Obligations GNMA 0.00 FNMA 9.10 Federal Home Loan Mortgage Corp 2.60 Other 5.49 Sub-total 17.19 Repurchase Agreement Income 32.31 Total Income from Other Issuers 0.69 Grand Total 100.00 Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Government Obligations Tax-Managed Fund (IS) GOTXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY AS IS SS Mutual Fund Money Market Money Market Taxable Distributions and Tax Info as of 2015 Federal Regular Income Tax Information For federal income tax purposes, the fund paid fully taxable dividends. Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000012246 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00001224 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000012648 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00001224 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000033304 State Tax Information Percentage of Income Earned by Issuer For state income tax purposes, short-term capital gains may be taxed differently than dividends. Your tax advisor can determine the appropriate tax treatment in your state. If you are required to report the short-term capital gains separately, multiply the ordinary dividends figure reported on your account statement by the associated percentage listed in the chart below. Pay Date Taxable Short-Term Cap Gain % 08-31-2015 30.64

09-30-2015 32.90 10-31-2015 32.92 11-30-2015 32.84 12-31-2015 12.60 The next chart lists the percentages of income earned by direct and indirect obligations, and repurchase agreement income. Since some states define income from U.S. government obligations differently, a tax advisor is best suited to determine the portion of your dividends, if any, that are subject to state tax. The Direct Federal Obligations section provides a break down of the percentage of income earned by the fund from Exempt Federal Securities by the specific direct government agencies listed. The Indirect Federal Obligations section provides a break down of the percentage of income earned by the fund from indirect U.S. Government Obligations, such as the specific agencies listed. The Repurchase Agreement Income section provides the percentage of income generated by the fund from repurchase agreements. Issuer Total Income % Direct Federal Obligations U.S Treasury 19.93 Federal Farm Credit Banks 38.41 Federal Home Loan Banks 41.17 Student Loan Marketing Association 0.00 Tennessee Valley 0.49 Other 0.00 Sub-total 100.00 Indirect Federal Obligations GNMA 0.00 FNMA 0.00 Federal Home Loan Mortgage Corp 0.00 Other 0.00 Sub-total 0.00 Repurchase Agreement Income 0.00 Total Income from Other Issuers 0.00 Grand Total 100.00 Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc.

Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Government Obligations Tax-Managed Fund (SS) GTSXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY AS IS SS Mutual Fund Money Market Money Market Taxable Distributions and Tax Info as of 2015 Federal Regular Income Tax Information For federal income tax purposes, the fund paid fully taxable dividends. Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000012246 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00001224 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000012648 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00001224 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000010802 State Tax Information Percentage of Income Earned by Issuer For state income tax purposes, short-term capital gains may be taxed differently than dividends. Your tax advisor can determine the appropriate tax treatment in your state. If you are required to report the short-term capital gains separately, multiply the ordinary dividends figure reported on your account statement by the associated percentage listed in the chart below. Pay Date Taxable Short-Term Cap Gain % 08-31-2015 30.64

09-30-2015 32.90 10-31-2015 32.92 11-30-2015 32.84 12-31-2015 12.60 The next chart lists the percentages of income earned by direct and indirect obligations, and repurchase agreement income. Since some states define income from U.S. government obligations differently, a tax advisor is best suited to determine the portion of your dividends, if any, that are subject to state tax. The Direct Federal Obligations section provides a break down of the percentage of income earned by the fund from Exempt Federal Securities by the specific direct government agencies listed. The Indirect Federal Obligations section provides a break down of the percentage of income earned by the fund from indirect U.S. Government Obligations, such as the specific agencies listed. The Repurchase Agreement Income section provides the percentage of income generated by the fund from repurchase agreements. Issuer Total Income % Direct Federal Obligations U.S Treasury 19.93 Federal Farm Credit Banks 38.41 Federal Home Loan Banks 41.17 Student Loan Marketing Association 0.00 Tennessee Valley 0.49 Other 0.00 Sub-total 100.00 Indirect Federal Obligations GNMA 0.00 FNMA 0.00 Federal Home Loan Mortgage Corp 0.00 Other 0.00 Sub-total 0.00 Repurchase Agreement Income 0.00 Total Income from Other Issuers 0.00 Grand Total 100.00 Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc.

Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Michigan Municipal Cash Trust (SS) MIMXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY SS WS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 Federal Regular Income Tax Information The fund paid exempt-interest dividends, as well as a taxable Long Term Capital Gain dividend, all of which are Form 1099-DIV reportable. Final for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Short-Term Long-Term Total Annually 12-10-2015 12-11-2015 12-14-2015 Annually 0.0000000000 0.0003598000 0.0003598000 Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008494 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000822 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008494 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000822 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008486 Federal Alternative Minimum Tax Information A portion of the fund's income results from investments in private activity municipal bonds (as described in the prospectus). While these bonds generally offer higher yields than traditional municipal bonds, the income they generate will be a

preference item for purposes of calculating the Alternative Minimum Tax (AMT). Fund holdings of AMT securities will vary throughout the year. The table below lists the actual percentage of the each distribution paid by the fund which relates to AMT. Please note that the Alternative Minimum Tax percentage does not apply to Short-Term or Long-Term Capital Gain distributions. Your tax advisor can provide you with more information about this tax and your reporting of the fund distributions. Distribution Date Monthly AMT % 01-31-2015 23.10 02-28-2015 19.63 03-31-2015 19.03 04-30-2015 17.34 05-31-2015 15.70 06-30-2015 15.95 07-31-2015 15.65 08-31-2015 8.84 09-30-2015 10.15 10-31-2015 14.08 11-30-2015 14.19 12-14-2015 N/A 12-31-2015 14.41 State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State The fund earned 99.53% of its income from municipal bonds in Michigan. Additional tax-free income of 0.47% cannot be allocated to any particular state. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Massachusetts Municipal Cash Trust (SS) MMCXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CS SS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 On October 22, 2010, Federated changed the fund number on all accounts in fund number 902 to fund number 87. This was a result of an internal system upgrade. This was a non taxable event and does not reflect change in investment or ownership. Federal Regular Income Tax Information The fund paid exempt-interest dividends, as well as taxable Short and Long Term Capital Gain dividends, all of which are Form 1099-DIV reportable. Short-term capital gain distributions are fully taxable and are included in ordinary dividends. Final for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Short-Term Long-Term Total Annually 12-10-2015 12-11-2015 12-14-2015 Annually 0.0000935400 0.0002495800 0.0003431200 Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008494 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000822 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008494 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000822

Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008486 Federal Alternative Minimum Tax Information All dividends are exempt from federal alternative minimum tax. State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State The fund earned 95.39% of its income from municipal bonds in Massachusetts. Additional tax-free income of 4.61% cannot be allocated to any particular state. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Money Market Management (IS) MMPXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CAP EAG IS SS Mutual Fund Money Market Money Market Taxable Distributions and Tax Info as of 2015 Federal Regular Income Tax Information For federal income tax purposes, the fund paid fully taxable dividends. Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000087428 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000084349 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000099924 Daily Daily 04-30-2015 04-30-2015 Monthly 0.000106251 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000112466 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00011167 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000122462 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000143467 Daily Daily 09-30-2015 09-30-2015 Monthly 0.000147761 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000148165 Daily Daily 11-30-2015 11-30-2015 Monthly 0.000147252 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000231649 State Tax Information Percentage of Income Earned by Issuer For state income tax purposes, short-term capital gains may be taxed differently than dividends. Your tax advisor can determine the appropriate tax treatment in your state. If you are required to report the short-term capital gains separately, multiply the ordinary dividends figure reported on your account statement by the associated percentage listed in the chart below. Pay Date Taxable Short-Term Cap Gain % 08-31-2015 10.85 11-30-2015 2.81

The next chart lists the percentages of income earned by direct and indirect obligations, and repurchase agreement income. Since some states define income from U.S. government obligations differently, a tax advisor is best suited to determine the portion of your dividends, if any, that are subject to state tax. The Direct Federal Obligations section provides a break down of the percentage of income earned by the fund from Exempt Federal Securities by the specific direct government agencies listed. The Indirect Federal Obligations section provides a break down of the percentage of income earned by the fund from indirect U.S. Government Obligations, such as the specific agencies listed. The Repurchase Agreement Income section provides the percentage of income generated by the fund from repurchase agreements. Issuer Total Income % Direct Federal Obligations U.S Treasury 0.00 Federal Farm Credit Banks 0.00 Federal Home Loan Banks 0.00 Student Loan Marketing Association 0.00 Tennessee Valley 0.00 Other 0.00 Sub-total 0.00 Indirect Federal Obligations GNMA 0.00 FNMA 0.00 Federal Home Loan Mortgage Corp 0.00 Other 0.00 Sub-total 0.00 Repurchase Agreement Income 28.05 Total Income from Other Issuers 71.95 Grand Total 100.00 Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Minnesota Municipal Cash Trust (CS) MNMXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CS WS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 Federal Regular Income Tax Information The fund paid exempt-interest dividends which are Form 1099-DIV reportable. Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008494 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000822 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008494 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000822 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008486 Federal Alternative Minimum Tax Information A portion of the fund's income results from investments in private activity municipal bonds (as described in the prospectus). While these bonds generally offer higher yields than traditional municipal bonds, the income they generate will be a preference item for purposes of calculating the Alternative Minimum Tax (AMT). Fund holdings of AMT securities will vary throughout the year. The table below lists the actual percentage of the each distribution paid by the fund which relates to AMT. Please note that the Alternative Minimum Tax percentage does not apply to Short-Term or Long-Term Capital Gain distributions. Your tax advisor can provide you with more information about this tax and your reporting of the fund distributions. Distribution Date Monthly AMT % 01-31-2015 46.43 02-28-2015 41.18

03-31-2015 39.81 04-30-2015 41.03 05-31-2015 40.51 06-30-2015 41.30 07-31-2015 36.29 08-31-2015 34.28 09-30-2015 33.15 10-31-2015 34.10 11-30-2015 29.30 12-31-2015 30.33 State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State The fund earned 98.72% of its income from municipal bonds in Minnesota. Additional tax-free income of 1.28% cannot be allocated to any particular state. In addition, dividends are tax-exempt if 95% or more of the fund's income is earned from Minnesota obligations. If it is, only the portion of income derived from non-minnesota obligations is taxable. Based on this requirement, 100% of your dividends is exempt from state income tax. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Municipal Obligations Fund (WS) MOFXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CAP CII CS IV SS TR WS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 Federal Regular Income Tax Information The fund paid exempt-interest dividends, as well as taxable Short and Long Term Capital Gain dividends, all of which are Form 1099-DIV reportable. Short-term capital gain distributions are fully taxable and are included in ordinary dividends. Final for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Short-Term Long-Term Total Annually 12-10-2015 12-11-2015 12-14-2015 Annually 0.0001648300 0.0003174100 0.0004822400 Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008677 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008465 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000819 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008463 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000819 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008463 Federal Alternative Minimum Tax Information A portion of the fund's income results from investments in private activity municipal bonds (as described in the prospectus).

While these bonds generally offer higher yields than traditional municipal bonds, the income they generate will be a preference item for purposes of calculating the Alternative Minimum Tax (AMT). Fund holdings of AMT securities will vary throughout the year. The table below lists the actual percentage of the each distribution paid by the fund which relates to AMT. Please note that the Alternative Minimum Tax percentage does not apply to Short-Term or Long-Term Capital Gain distributions. Your tax advisor can provide you with more information about this tax and your reporting of the fund distributions. Distribution Date Monthly AMT % 01-31-2015 44.94 02-28-2015 44.66 03-31-2015 42.80 04-30-2015 41.46 05-31-2015 44.11 06-30-2015 39.15 07-31-2015 34.51 08-31-2015 31.00 09-30-2015 30.01 10-31-2015 26.70 11-30-2015 20.98 12-14-2015 N/A 12-31-2015 17.98 State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State Some states may exempt from tax the portion of dividends generated by its own municipal obligations. Because of this, a percentage of your dividends may be exempt from state or local taxes. State tax laws vary, please consult your tax advisor to determine if your state allows this exemption. State Year-to-Date % State Year-to-Date % Alabama 2.55 Montana 0.00 Alaska 0.00 Nebraska 0.01 Arizona 0.20 Nevada 1.35 Arkansas 0.00 New Hampshire 0.11 California 5.81 New Jersey 11.67 Colorado 2.60 New Mexico 0.20 Connecticut 0.59 New York 17.23 Delaware 0.00 North Carolina 1.28 District Of Columbia 0.15 North Dakota 0.71 Florida 4.71 Ohio 0.00

Georgia 2.92 Oklahoma 0.22 Hawaii 0.44 Oregon 0.97 Idaho 0.41 Pennsylvania 0.85 Illinois 2.01 Puerto Rico 0.00 Indiana 8.43 Rhode Island 0.00 Iowa 0.57 South Carolina 1.07 Kansas 1.01 South Dakota 0.09 Kentucky 0.29 Tennessee 2.09 Louisiana 1.36 Texas 2.25 Maine 0.00 Utah 0.06 Maryland 0.22 Vermont 0.08 Massachusetts 5.38 Virginia 0.32 Michigan 3.65 Washington 1.75 Minnesota 0.21 West Virginia 0.00 Mississippi 0.92 Wisconsin 0.83 Missouri 0.74 Wyoming 0.12 Additional tax-free income of 11.57% cannot be allocated to any particular state. In addition, dividends are tax-exempt if 95% or more of the fund's income is earned from Minnesota obligations. If it is, only the portion of income derived from non-minnesota obligations is taxable. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated Municipal Obligations Fund (SS) MOSXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CAP CII CS IV SS TR WS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 Federal Regular Income Tax Information The fund paid exempt-interest dividends, as well as taxable Short and Long Term Capital Gain dividends, all of which are Form 1099-DIV reportable. Short-term capital gain distributions are fully taxable and are included in ordinary dividends. Final for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Short-Term Long-Term Total Annually 12-10-2015 12-11-2015 12-14-2015 Annually 0.0001648300 0.0003174100 0.0004822400 Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008465 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000819 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008463 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000819 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008463 Federal Alternative Minimum Tax Information A portion of the fund's income results from investments in private activity municipal bonds (as described in the prospectus).

While these bonds generally offer higher yields than traditional municipal bonds, the income they generate will be a preference item for purposes of calculating the Alternative Minimum Tax (AMT). Fund holdings of AMT securities will vary throughout the year. The table below lists the actual percentage of the each distribution paid by the fund which relates to AMT. Please note that the Alternative Minimum Tax percentage does not apply to Short-Term or Long-Term Capital Gain distributions. Your tax advisor can provide you with more information about this tax and your reporting of the fund distributions. Distribution Date Monthly AMT % 01-31-2015 44.94 02-28-2015 44.66 03-31-2015 42.80 04-30-2015 41.46 05-31-2015 44.11 06-30-2015 39.15 07-31-2015 34.51 08-31-2015 31.00 09-30-2015 30.01 10-31-2015 26.70 11-30-2015 20.98 12-14-2015 N/A 12-31-2015 17.98 State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State Some states may exempt from tax the portion of dividends generated by its own municipal obligations. Because of this, a percentage of your dividends may be exempt from state or local taxes. State tax laws vary, please consult your tax advisor to determine if your state allows this exemption. State Year-to-Date % State Year-to-Date % Alabama 2.55 Montana 0.00 Alaska 0.00 Nebraska 0.01 Arizona 0.20 Nevada 1.35 Arkansas 0.00 New Hampshire 0.11 California 5.81 New Jersey 11.67 Colorado 2.60 New Mexico 0.20 Connecticut 0.59 New York 17.23 Delaware 0.00 North Carolina 1.28 District Of Columbia 0.15 North Dakota 0.71 Florida 4.71 Ohio 0.00

Georgia 2.92 Oklahoma 0.22 Hawaii 0.44 Oregon 0.97 Idaho 0.41 Pennsylvania 0.85 Illinois 2.01 Puerto Rico 0.00 Indiana 8.43 Rhode Island 0.00 Iowa 0.57 South Carolina 1.07 Kansas 1.01 South Dakota 0.09 Kentucky 0.29 Tennessee 2.09 Louisiana 1.36 Texas 2.25 Maine 0.00 Utah 0.06 Maryland 0.22 Vermont 0.08 Massachusetts 5.38 Virginia 0.32 Michigan 3.65 Washington 1.75 Minnesota 0.21 West Virginia 0.00 Mississippi 0.92 Wisconsin 0.83 Missouri 0.74 Wyoming 0.12 Additional tax-free income of 11.57% cannot be allocated to any particular state. In addition, dividends are tax-exempt if 95% or more of the fund's income is earned from Minnesota obligations. If it is, only the portion of income derived from non-minnesota obligations is taxable. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated North Carolina Municipal Cash Trust NCMXX PRODUCT TYPE ASSET CLASS CATEGORY Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 Federal Regular Income Tax Information The fund paid exempt-interest dividends which are Form 1099-DIV reportable. Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008494 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000822 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008494 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000822 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008486 Federal Alternative Minimum Tax Information A portion of the fund's income results from investments in private activity municipal bonds (as described in the prospectus). While these bonds generally offer higher yields than traditional municipal bonds, the income they generate will be a preference item for purposes of calculating the Alternative Minimum Tax (AMT). Fund holdings of AMT securities will vary throughout the year. The table below lists the actual percentage of the each distribution paid by the fund which relates to AMT. Please note that the Alternative Minimum Tax percentage does not apply to Short-Term or Long-Term Capital Gain distributions. Your tax advisor can provide you with more information about this tax and your reporting of the fund distributions. Distribution Date Monthly AMT % 01-31-2015 22.23 02-28-2015 20.50

03-31-2015 20.44 04-30-2015 23.92 05-31-2015 24.78 06-30-2015 24.97 07-31-2015 13.10 08-31-2015 12.66 09-30-2015 12.67 10-31-2015 11.90 11-30-2015 10.82 12-31-2015 10.98 State Tax Information California Residents: Any distributions earned on bonds issued by a state other than California are reported to the California Franchise Tax Board, pursuant to California Revenue and Taxation Code Section 18639. Percentage of Income Earned by State The fund earned 94.71% of its income from municipal bonds in North Carolina. Additional tax-free income of 5.29% cannot be allocated to any particular state. Performance quoted represents past performance, which is no guarantee of future results. Investment return will vary. An investor's shares, when redeemed, may be worth more or less than the original cost. Federated Securities Corp., Distributor Copyright 2016 Federated Investors, Inc. Federated Investors Tower 1001 Liberty Avenue Pittsburgh, PA 15222-3779 Telephone: 412-288-1900

Federated New Jersey Municipal Cash Trust (SS) NJSXX SHARE CLASSES PRODUCT TYPE ASSET CLASS CATEGORY CS SS WS Mutual Fund Money Market Money Market Tax-Free Distributions and Tax Info as of 2015 Federal Regular Income Tax Information The fund paid exempt-interest dividends, as well as taxable Short and Long Term Capital Gain dividends, all of which are Form 1099-DIV reportable. Short-term capital gain distributions are fully taxable and are included in ordinary dividends. Final for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Short-Term Long-Term Total Annually 12-10-2015 12-11-2015 12-14-2015 Annually 0.0000872700 0.0000655200 0.0001527900 Dividends for 2015 Declared Date Record Date Ex-Date Pay Date Frequency of Distribution Income Dividend Daily Daily 01-31-2015 01-31-2015 Monthly 0.000008494 Daily Daily 02-28-2015 02-28-2015 Monthly 0.000007672 Daily Daily 03-31-2015 03-31-2015 Monthly 0.000008494 Daily Daily 04-30-2015 04-30-2015 Monthly 0.00000822 Daily Daily 05-31-2015 05-31-2015 Monthly 0.000008494 Daily Daily 06-30-2015 06-30-2015 Monthly 0.00000822 Daily Daily 07-31-2015 07-31-2015 Monthly 0.000008494 Daily Daily 08-31-2015 08-31-2015 Monthly 0.000008494 Daily Daily 09-30-2015 09-30-2015 Monthly 0.00000822 Daily Daily 10-31-2015 10-31-2015 Monthly 0.000008494 Daily Daily 11-30-2015 11-30-2015 Monthly 0.00000822 Daily Daily 12-31-2015 12-31-2015 Monthly 0.000008486 Federal Alternative Minimum Tax Information A portion of the fund's income results from investments in private activity municipal bonds (as described in the prospectus).