Extreme Value Distributions (EVDs) are statistical models used to analyze the behavior of the maximum or minimum values in a dataset. They help in understanding rare events, such as the highest flood levels or the lowest temperatures, by providing a framework to predict their likelihood. EVDs are particularly useful in fields like meteorology, finance, and engineering. There are three main types of Extreme Value Distributions: the Gumbel, Fréchet, and Weibull distributions. Each type is suited for different kinds of data and helps researchers and analysts make informed decisions based on the probability of extreme outcomes.