Caterpillar Inc. (“Caterpillar”, “we” or “our”) is furnishing supplemental information concerning (i) retail sales of machines to end users and (ii) retail sales of power systems (including reciprocating and turbine engines and locomotives) to end users and Original Equipment Manufacturers (“OEMs”). Caterpillar sells the majority of its machinery and power systems to independently owned and operated dealers and OEMs to meet the demands of their customers, the end users. Caterpillar believes that this supplemental information may help readers better understand Caterpillar’s business and the industries it serves, particularly in light of the time delay between Caterpillar’s sales to dealers and dealers’ sales to end users.

In this report we are providing information by geographic region for retail sales of machines in each of our Resource Industries and Construction Industries reportable segments, as well as information regarding total retail sales of our machines globally. For our Energy & Transportation reportable segment, we are providing retail sales information by major end use.

The information presented in this report is primarily based on unaudited reports that are voluntarily provided to Caterpillar by its independent dealers and which are not subject to Caterpillar’s internal controls over financial reporting. Accordingly, the data collected from such third parties may not be accurate and/or complete. As such, the information presented in this report is intended solely to convey an approximate indication of the trends, direction and magnitude of retail sales and is not intended to be an estimate, approximation or prediction of, or substitute for, Caterpillar’s audited financial statements filed with the U.S. Securities and Exchange Commission. This information is furnished under this report with the U.S. Securities and Exchange Commission. Caterpillar does not undertake to update or adjust prior period information.

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Analyst Coverage

Analyst reports are proprietary to the securities firm and its clients, and Caterpillar may not distribute these reports to investors. Following is contact information for all sell-side research analysts that actively cover Caterpillar.

Firm Analyst Phone Number Email Address
Argus Research John Eade 646-747-5445 jeade@argusresearch.com
Atlantic Equities Richard Radbourne 44 20 7382 2913 r.radbourne@atlantic-equities.com
Bank of America Merrill Lynch Ross Gilardi 646-855-2454 ross.gilardi@baml.com
Barclays Adam Seiden 212-526-2212 adam.seiden@barclays.com
BMO Capital Markets Joel Tiss 212-883-5112 joel.tiss@bmo.com
Citigroup Timothy Thein 212-816-6706 timothy.thein@citi.com
Cleveland Research Company Adam Uhlman 216-649-7241 auhlman@cleveland-research.com
Credit Suisse Securities Jamie Cook 212-538-6098 jamie.cook@credit-suisse.com
Daiwa Capital Markets  Jairam Nathan  212-612-6181  Jairam.Nathan@us.daiwacm.com
Deutsche Bank Nicole DeBlase 212-250-5916 nicole.deblase@db.com
Evercore ISI Institutional Equities David Raso 212-446-5647 david.raso@evercoreisi.com
Goldman Sachs Jerry Revich 212-902-4116 Jerry.Revich@gs.com
Jefferies & Company Steve Volkmann 212-284-2031 svolkmann@Jefferies.com
JP Morgan Securities Ann Duignan 212-622-0381 ann.duignan@jpmorgan.com
Melius Research Rob Wertheimer 212-503-6202 Rob.Wertheimer@meliusresearch.com
Morgan Stanley Courtney Yakavonis 617-856-8037 Courtney.Yakavonis@morganstanley.com
Oppenheimer & Co. Inc. Noah Kaye 212-667-7936 Noah.Kaye@opco.com
RBC Capital Markets Seth Weber 212-618-7545 seth.weber@rbccm.com
Robert W. Baird Mircea Dobre 414-298-6138 mdobre@rwbaird.com
Stifel Stanley Elliott 804-727-6364 elliotts@stifel.com
Tigress Financial Partners LLC Ivan Feinseth 646-780-8901 ifeinseth@tigressfp.com
UBS Securities Steve Fisher 212-713-8634 steven.fisher@ubs.com
Vertical Research Partners Joe O'Dea 212-257-6182 jo@verticalresearchpartners.com
Wells Fargo Securities Andrew Casey 617-603-4265 andrew.casey@wellsfargo.com
William Blair Larry DeMaria 212-237-2753 LDeMaria@williamblair.com