|Craig-Hallum Capital Group||Eric Stine|
|B. Riley FBR, Inc.||Carter Driscoll|
|Northland Capital Markets||Jeff Grampp|
|Oppenheimer & Co.||Colin Rusch|
|Rodman & Renshaw||Amit Dayal|
|Roth Capital Partners||Craig Irwin|
Ideal Power Inc. is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Ideal Power Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Ideal Power Inc. or its management. Ideal Power Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.