Premiere CC Doesn't Correctly Export Audio Track FX

I'm using the latest version of Premiere on Sierra. I have a project with the Mastering effect applied to A1, and I'm discovering that when I export my project through AME, the volume is all wrong compared to how it plays back inside Premiere. What's worse, if I export directly from Premiere and bypass AME, the audio sounds fine. It would appear through AME it is not paying attention to my audio effects.

I have two MP4 files, the exact same source material exported through these two different methods, and they are noticeably different from each other.

What's going on and how to do I fix this problem? I've noticed this happening in a variety of different projects over the last couple months but this is the first time I've narrowed it down to AME being the culprit.