Proton Energy Systems, Inc.

DateInflation Amount Per Share*
9/29/2000**$12.8218***
10/2/2000$12.8218
10/3/2000$12.8218
10/4/2000$12.8218
10/5/2000$12.8218
10/6/2000$12.5893
10/9/2000$10.6969
10/10/2000$11.2059
10/11/2000$11.8975
10/12/2000$12.7672
10/13/2000$11.0016
10/16/2000$10.6914
10/17/2000$9.0123
10/18/2000$7.5157
10/19/2000$9.7776
10/20/2000$10.7078
10/23/2000$10.9824
10/24/2000$11.2312
10/25/2000$10.5962
10/26/2000$11.1153
10/27/2000$11.7087
10/30/2000$12.5234
10/31/2000$12.1977
11/1/2000$12.763
11/2/2000$12.8144
11/3/2000$12.6551
11/6/2000$11.3577
11/7/2000$9.9761
11/8/2000$9.9771
11/9/2000$8.1582
11/10/2000$4.4809
11/13/2000$6.0528
11/14/2000$5.6849
11/15/2000$7.6397
11/16/2000$6.9335
11/17/2000$5.9041
11/20/2000$5.2438
11/21/2000$4.7158
11/22/2000$3.4612
11/24/2000$2.3518
11/27/2000$2.7083
11/28/2000$0.7424
11/29/2000$0
11/30/2000$0
12/1/2000$0
12/4/2000$0
12/5/2000$0
12/6/2000$0

* Data shown are adjusted forward for all stock splits between the IPO and 12/6/00.

** Purchases on a date not listed in the chart above have no artificial inflation.

*** Purchases in the IPO itself at $17.00 per share have no artificial inflation.