2.  This and/or the accompanying statistical information was prepared by or obtained from sources that Magellan Financial, Inc (Magellan Financial, Inc is a separate entity from WFAFN) believes to be reliable, but its accuracy is not guaranteed. The report herein is not a complete analysis of every material fact in respect to any company, industry or security. The opinions expressed here reflect the judgment of the author as of the date of the report and are subject to change without notice. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Chart of the S&P 500

3.  This and/or the accompanying statistical information was prepared by or obtained from sources that Magellan Financial, Inc (Magellan Financial, Inc is a separate entity from WFAFN) believes to be reliable, but its accuracy is not guaranteed. The report herein is not a complete analysis of every material fact in respect to any company, industry or security. The opinions expressed here reflect the judgment of the author as of the date of the report and are subject to change without notice. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy. Chart of 10 Year Treasury Note Yield

4. 2012 year end 2013 latest 2013 year end forecast Inflation- adjusted GDP Rolling four quarters2.0%1.6%2.5% Inflation adjusted GDP Latest quarter percent change and annual rate 1.8% UnemploymentEnd of period/latest8.5%7.6%7.2% CPI inflation12-month average3.2%1.8%2.5% Federal deficitRolling 12 months$1.2 trillion$0.9 trillion$0.8 trillion Existing home sales (SAAR*) End of period/latest4.4 million5.1 million5.5 million Total Vehicle sales (SAAR*) End of period/latest13.5 million15.9 million15.5 million SAAR = Seasonally adjusted annual rate Sources: Bloomberg, Wells Fargo Advisors

5. 2012 year- end 2013 latest 2013 year end forecast S&P 500 index Latest as of 7/17/2013 1426.191680.911650-1700 S&P operating earnings Trailing four quarters $96.88/Shar e $98.35/shar e 108/share S&P price/earnin gs Trailing four quarters operating earnings 14.7217.0915.51

7.  Past performance is no guarantee of future results. Dividends are subject to change or elimination and are not guaranteed.  Stocks offer long term growth potential, but may fluctuate more and provide less current income than other investments. An investment in the stock market should be made with an understanding of the risks associated with common stocks, including market fluctuations.  Investments that are concentrated in a specific sector or industry may be subject to a higher degree of market risk than investments that are more diversified.  Investing in foreign securities presents certain risks not associated with domestic investments, such as currency fluctuation, political and economic instability, and different accounting standards. This may result in greater share price volatility. These risks are heightened in emerging markets.  The FDIC standard maximum deposit insurance amount per depositor per insured depository institution for each account ownership category is $250,000.  This and/or the accompanying statistical information was prepared by or obtained from sources that Magellan Financial, Inc (Magellan Financial, Inc is a separate entity from WFAFN) believes to be reliable, but its accuracy is not guaranteed. The report herein is not a complete analysis of every material fact in respect to any company, industry or security. The opinions expressed here reflect the judgment of the author as of the date of the report and are subject to change without notice. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.  Additional Information is available upon request.