Money Market Funds Summary

Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than quoted. For current month-end performance information, call 800.677.3863. Performance assumes the reinvestment of dividends and capital gains.

The 7-day current yield is calculated in accordance with regulatory requirements and does not include capital gains.

Subsidized yields reflect fee waivers in effect. Without such waivers, yields would be reduced. Unsubsidized yields do not reflect fee waivers in effect.

Fund Name	Ticker Symbol	CUSIP	Transaction NAV	7-Day Subsidized	7-Day UnSubsidized	1 mth	3 mth	YTD	1 yr	3 yr	5 yr	10 yr	Since Incept.	Inception Date
Share Class Class A Class D Class P Class T Class U Class V Class X Class Y Class Z
Stable NAV Funds			Information as of 1/17/2020			Cumulative Return as of 12/31/2019			Average Annualized Total Returns as of 12/31/2019
Government Obligations	FGXXX	31846V336	$1.00	1.50%	1.41%	0.13	0.41	2.12	2.12	1.55	--	--	1.30	4/5/2016
Retail Prime Obligations	FXRXX	31846V245	$1.00	1.73%	1.62%	0.15	0.46	2.28	2.28	1.78	--	--	1.67	9/8/2016
Treasury Obligations	FXFXX	31846V328	$1.00	1.50%	1.41%	0.13	0.41	2.11	2.11	1.55	--	--	1.29	4/5/2016

For 1-day Subsidized and Unsubsidized Yields, click on any fund and view the "Fund Performance and Portfolio Holdings" tab.

† First American Funds, Inc. began offering shares to the public on April 9, 1982.

Mutual Fund Investing Involves Risk. This material must be preceded or accompanied by a current prospectus. It contains more information that investors should carefully consider about each fund, including risks, charges and expenses: click here to view prospectuses. Please read it carefully before investing.

For U.S Treasury, Treasury Obligations and Government Obligations Funds: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Company or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund and you should not expect that the sponsor will provide financial support to the Fund at any time.

For Retail Prime Obligations and Retail Tax-Free Obligations Funds: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Company or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund and you should not expect that the sponsor will provide financial support to the Fund at any time.

For Institutional Prime Obligations Fund: You could lose money by investing in the Fund. Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Company or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund and you should not expect that the sponsor will provide financial support to the Fund at any time.

Income from tax exempt funds may be subject to state and local taxes and a portion of income may be subject to the federal and / or state alternative minimum tax for certain investors. Federal and / or state income tax rules will apply to any capital gains distribution.

U.S. Bancorp Asset Management, Inc. serves as investment advisor to First American Funds. The Funds are distributed by Quasar Distributors, LLC, an affiliate of the investment advisor.

The funds referred to in this website may be offered only to persons in the United States. This website should not be considered a solicitation or offering of shares of the funds outside the United States.

¦ NOT FDIC INSURED ¦ NO BANK GUARANTEE ¦ MAY LOSE VALUE ¦