Analyst Coverage

Douglas Tsao Barclays
John Sonnier William Blair & Company
Jason Butler, Ph.D.  JMP Securities
Peter Lawson Mizuho Securities

Please note that any opinions, estimates or forecasts regarding Pfenex, Inc.'s performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Pfenex, Inc. or its management. Pfenex, Inc. does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.