1. Presented by, Sara LaFever Sagient Research Systems

3.  Only 1 ATM in 2006  Popularity rose 2009 *Based on Closing dates  Exploded in 2010  Continues to expand

4.  Healthcare includes Biotech & Pharma  Energy includes Oil & Gas, Pipelines  Financial includes Banks, Closed-end Funds, Diversified Financial Services, Investment Companies * Data from 2009-present  Industrial includes Electronics, Transportation, Engineering  Other includes Utilities, Technology, Mining, Communications

5. *Data from 2009-present

6.  Most ATM issuers are in $100M-$500M range

7.  ATMs YTD:102  CMPOs YTD: 89  CMPOs tend to be popular in the healthcare sector *Data from 2009-present

8. Average Placement Agent Fees Average Sum of Gross Proceeds Average Commitment Amount ATM2.54%$46,741,445.65$140,109,207 CMPO5.65%$48,575,205.68N/A

9. RankingPlacement Agent NameDeal Count 1.Bank of America Merrill Lynch 50 2.Cantor Fitzgerald & Company 47 3.MLV & Co. LLC 38 4.Wells Fargo Securities, LLC 34 5.Deutsche Bank Securities, Inc. 25 6.Citigroup Global Markets, Inc. 24 7.J.P. Morgan Chase & Co. 21 8.Morgan Stanley 20 9.KeyBanc Capital Markets 19 10.UBS Securities LLC 17 *Data from 2009-present