Raymond James Has Been Minimally Impacted by the Financial Crisis

Source: Bloomberg. Data as of 2/2/2009. Writedowns, job cuts and capital raised since 3Q07. 1. Acquired by JPMorgan Chase & Co. on May 30, 2008 for $9.35/share.2. Filed for Chapter 11 bankruptcy protection on September 15, 2008. 3. Acquired by Bank of America Corp. on December 31, 2008 for $12.10/share.4. Acquired by Wells Fargo & Co. on December 31, 2008 for $5.87/share. Past performance is not indicative of future results.

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10%

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30%

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50%

60%

70%

-100%

-80%

-60%

-40%

-20%

0%

Change in 52-Week Stock Price Capital Raised to Current Market Capitalization

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$20

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$120

NA NA NA NA0%

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Percent of Workforce Laid Off Writedowns & Credit Losses ($B)

Raymond James Has Exhibited Strong Performance Relative to Our Peers

Earnings Per Share – Trailing 10 Years

Source: Bloomberg. Data as of 2/2/2009. Each graph displays quarterly basic earnings per share (EPS) for the past 10 years where available. 1. Acquired by JPMorgan Chase & Co. on May 30, 2008. The data provided is for informational purposes only and is not a solicitation to buy or sell Raymond James Financial stock. Past performance is not indicative of future results.

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$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

$0.70

$(3.00)

$(2.00)

$(1.00)

$-

$1.00

$2.00

$3.00

$4.00

$(8.00)

$(6.00)

$(4.00)

$(2.00)

$-

$2.00

$4.00

$6.00

$(2.00)

$(1.00)

$-

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$(2.50)

$(2.00)

$(1.50)

$(1.00)

$(0.50)

$-

$0.50

$1.00

$1.50

$2.00

$(6.00)

$(4.00)

$(2.00)

$-

$2.00

$4.00

$6.00

$8.00

$10.00

Raymond James Bear Stearns (1) Citigroup

Credit Suisse Deutsche Bank Goldman Sachs

82 consecutive profitable quarters

Raymond James Has Exhibited Strong Performance Relative to Our Peers

Earnings Per Share – Trailing 10 Years

Source: Bloomberg. Data as of 2/2/2009. Each graph displays quarterly basic earnings per share (EPS) for the past 10 years where available. 1. Filed for Chapter 11 bankruptcyprotection on September 15, 2008. 2. Acquired by Bank of America Corp. on December 31, 2008. 3. Acquired by Wells Fargo & Co. on December 31, 2008.The data provided is for informational purposes only and is not a solicitation to buy or sell Raymond James Financial stock. Past performance is not indicative of future results.

$(0.40)

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$-

$0.20

$0.40

$0.60

$0.80

$1.00

$1.20

$1.40

$1.60

$(4.00)

$(3.00)

$(2.00)

$(1.00)

$-

$1.00

$2.00

$3.00

$(8.00)

$(6.00)

$(4.00)

$(2.00)

$-

$2.00

$4.00

$6.00

$(6.00)

$(5.00)

$(4.00)

$(3.00)

$(2.00)

$(1.00)

$-

$1.00

$2.00

$3.00

$(14.00)

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$(2.00)

$-

$2.00

$4.00

$6.00

$(12.00)

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$(8.00)

$(6.00)

$(4.00)

$(2.00)

$-

$2.00

JPMorgan Chase Lehman Brothers (1) Merrill Lynch (2)

Morgan Stanley UBS Wachovia (3)

© 2009 Raymond James & Associates, Inc., member New York Stock Exchange/SIPC© 2009 Raymond James Financial Services, Inc., member FINRA/SIPC