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Thomson Reuters Analyst Awards | 18 Awards Top Ten For Last 12 Consecutive Years 2016 2017 2018 #1 011 2012 2013 2014 2015 2 #3 #1 009 20102011 45 #3 #3 #4 #2 #7 #2 Figures include Keefe, Bruyette & Woods (KBW.o wholly owned Subsidiory of Sofel Financial Corp. and other firms ocquired by Sofel SiyeWKBW ranked No.3 omong 152 quolifying U.S firms. For more information about the Thomson Reuters Analyst Awards, see www.safel.com/research. Brad Braunberger Senior Vice President/Investments 25 First Avenue West | Dickinson, North Dakota 58601 Stifel, Nicolaus & Company, Incorporated | Member SIPC& NYSE|www.stifel.com (701) 225-9101 | (800) 365-9964