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Equity Analysts

FirmAnalyst
Argus Research Co. Gary  Hovis
Barclays CapitalDaniel Ford,  Gregg Orrill
BMO Capital MarketsMichael  Worms
Deutsche BankJonathan Arnold, Keith Stanley
Goldman SachsNeil Mehta
ISI GroupJon Cohen
Jefferies & Co., Inc.Paul  Fremont
Macquarie ResearchAngie  Storozynski
Morgan StanleyStephen Byrd
MorningstarAndrew Bischof
RBC Capital MarketsShelby Tucker
SunTrust Robinson HumphreyAli  Agha
Tudor Pickering Holt & Co.Brandon  Blossman
UBS Investment ResearchJulien Dumoulin-Smith
Wolfe TrahanSteve Fleishman
Wunderlich SecuritiesJames Dobson
Calpine Corporation is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Calpine Corporation's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Calpine Corporation or its management. Calpine Corporation does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

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