Richard Davis, Jr.
Canaccord Genuity, Inc.

Steve Koenig
Wedbush Securities

Raghavan Sarathy
Dougherty & Company, LLC

Mark W. Schappel
The Benchmark Company, LLC

Pegasystems is followed by the analyst[s] listed above. This list is subject to change as firms add or delete coverage. Please note that any opinions, estimates or forecasts regarding the Company made by analysts are theirs alone and may not represent the opinions, estimates or forecasts of the Company or its management. The Company is providing this listing as a service to its stockholders and is not by this listing implying its endorsement of or concurrence with such analyst reports. Interested persons must obtain copies of analysts' reports on their own; the Company does not distribute these reports.