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Investor Presentaiton

Components of Investment Income Investment income volatility is not only due to net capital gains as both taxable interest and dividends have had large swings. 1.00 0.80 0.60 0.40 0.20 0.00 -0.20 -0.40 -0.60 -0.80 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 RI Coincident Index Taxable Interest Dividends Net Capital Gains September 30, 2013 FTA Revenue Estimation and Tax Research Conference 11

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