Analyst Coverage

Firm	Analyst
Bank of America Merrill Lynch	Lucy Yu
BOCI	Tina Li
BOCOM International	Connie Gu
Changjiang	Gang Zhao
China Galaxy	Lei Yang
China Industrial	Jian Song
China Merchants	Xiaoyan Xie
China Merchants International	Crystal Li
China Renaissance	Yiwen Zhang
China Securities	Le Ye
CICC	Brenda Zhao
CITI	Alice Cai
CITIC	Ya Jiang
CLSA	Jeffrey Chan
Daiwa	Candis Chan
First Shanghai	Tracy Dan
Goldman Sachs	Timothy Zhao
Guosen	Guang Zeng
Guotai Junan	Yuenan Liu
Haitong International	Daisy Chen
Huatai	Jonos Xia
J. P. Morgan	DS Kim
Macquarie	Linda Huang
Minsheng	Yongjian Yi
Morgan Stanley	Eddy Wang
Morning Star	Cheng Wang
Northeast	Hui Li
Orient	Wenqian Xiang
Soochow	Jincao Wu
T.H. Capital	Tian X. Hou
TF Securities	Haiyang Sun
UBS	Felix Liu
ZheShang	Lian Duan

TAL Education Group – IR Site is followed by the analysts listed. Please note that any opinions, estimates or forecasts regarding TAL Education Group – IR Site's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of TAL Education Group – IR Site or its management. TAL Education Group – IR Site does not by its reference or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.