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THIS CERTIFIES THAT   is the owner of   DATED   COUNTERSIGNED AND REGISTERED:   COMPUTERSHARE TRUST COMPANY, N.A.   TRANSFER AGENT AND REGISTRAR,   FULLY-PAID AND NON-ASSESSABLE SHARES OF THE 7.750% SERIES B CUMULATIVE   REDEEMABLE PREFERRED STOCK, LIQUIDATION PREFERENCE $25,000 PER SHARE, OF   American Capital Agency Corp. transferable on the books of the Corporation in person or by duly authorized   Attorney upon surrender of this certificate properly endorsed. This certificate shall not be valid until countersigned   and registered by the Transfer Agent and Registrar.   Witness the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers.   7.750% SERIES B CUMULATIVE   REDEEMABLE PREFERRED STOCK   PAR VALUE $0.01   7.750% SERIES B CUMULATIVE   REDEEMABLE PREFERRED STOCK   THIS CERTIFICATE IS TRANSFERABLE IN   CANTON, MA AND NEW YORK, NY   Certificate   Number   Shares   .   AMERICAN CAPITAL AGENCY CORP.   INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE   Chair of the Board & CEO   Executive Vice President & Secretary   By   AUTHORIZED SIGNATURE   016570|  003590|127C|RESTRICTED||4|057-423   <<Month Day, Year>>   * * 0 0 0 0 0 0 * * * * * *   * * * 0 0 0 0 0 0 * * * * *   * * * * 0 0 0 0 0 0 * * * *   * * * * * 0 0 0 0 0 0 * * *   * * * * * * 0 0 0 0 0 0 * *   ** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample   **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David   Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander   David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.   Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****   Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample   **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David   Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander   David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.   Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample ****   Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample **** Mr. Sample   **000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares***   *000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****   000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0   00000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00   0000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000   000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****0000   00**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****00000   0**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000   **Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000*   *Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**   Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**Shares****000000**S   ***ZERO HUNDRED THOUSAND   ZERO HUNDRED AND ZERO***   MR. SAMPLE & MRS. SAMPLE &   MR. SAMPLE & MRS. SAMPLE   NNNNN   ZQ 000000   Certificate   Number   s   1234567890/123456789   0   1234567890/123456789   0   1234567890/123456789   0   1234567890/123456789   0   1234567890/123456789   0   1234567890/123456789   0   Total   Transactio   n   Num/No   .   123456   Denom   .   123456   Tota   l   1234567   MR   A SAMPL   E   DESIGN   ATION (IF ANY   )   ADD   1   ADD   2   ADD   3   ADD   4   PO    B   O   X 43004, Providence, R   I 02940-3004   Holder   ID   XXXXXXXXX   X   Insurance   Value      1,000,000.0   0   Number   of   Share   s   12345   6   DT   C   12345678      12345678901234   5    





 







The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full   according to applicable laws or regulations:   TEN COM - as tenants in common UNIF GIFT MIN ACT-  . . . . . . . . . .Custodian . . . . . . . . . . . . . . .   TEN ENT - as tenants by the entireties under Uniform Gifts to Minors Act  . . . . . . . . . . . . .   JT TEN - as joint tenants with right of survivorship     UNIF TRF MIN ACT  . . . . . . . . . . . . . . .Custodian (until age. . . ). . . . . . . . . . .   and not as tenants in common                                                           (Cust)                                                          (Minor)   under Uniform Transfers to Minors Act. . . . . . . . . .   (State)   Additional abbreviations may also be used though not in the above list.   For value received, ____________________________hereby sell, assign and transfer unto   ________________________________________________________________________________________________________________________________   ________________________________________________________________________________________________________________________________   ________________________________________________________________________________________________________________________________   _______________________________________________________________________________________________________________________ Shares   _______________________________________________________________________________________________________________________ Attorney   Dated: __________________________________________20__________________   Signature: ____________________________________________________________   Signature: ____________________________________________________________   Notice: The signature to this assignment must correspond with the name   as written upon the face of the certificate, in every particular,   without alteration or enlargement, or any change whatever.   (Cust) (Minor)   (State)   PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE   (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE)   of the Preferred Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint   to transfer the said stock on the books of the within-named Corporation with full power of substitution in the premises.   .   AMERICAN CAPITAL AGENCY CORP.   The Corporation will furnish without charge to each stockholder who so requests, a statement of the powers, designations, preferences and relative, participating,   optional, or other special rights of each class of stock or series thereof which the Corporation is authorized to issue and the qualifications, limitations or restrictions   of such preferences and/or rights. Any such request should be addressed to the Secretary of the Corporation at the principal office.   The shares of the Corporation's 0.000% Series B Cumulative Redeemable Preferred Stock (the “Preferred Stock”) represented by this certificate are subject to   restrictions on Beneficial Ownership, Constructive Ownership and Transfer (as each such capitalized term is defined in the Corporation’s Certificate of   Incorporation, as the same may be amended from time to time (the “Certificate of Incorporation”)) for the purpose of the Corporation's maintenance of its status   as a real estate investment trust (a “REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). Subject to certain further restrictions and except   as expressly provided in the Certificate of Incorporation, (i) no Person (as defined in the Certificate of Incorporation) may Beneficially Own or Constructively Own   shares of the Corporation’s Common Stock (the “Common Stock”) in excess of 9.8% (in value or number of shares, whichever is more restrictive) of the total   outstanding shares of Preferred Stock unless such Person is an Excepted Holder (as defined in the Certificate of Incorporation), in which case the Excepted Holder   Limit (as defined in the Certificate of Incorporation) shall be applicable; (ii) no Person may Beneficially Own or Constructively Own shares of any class or series   of the Corporation’s stock (the “Capital Stock”) in excess of 9.8% (in value or number of shares, whichever is more restrictive) of the total outstanding shares of   Capital Stock, unless such Person is an Excepted Holder, in which case the Excepted Holder Limit shall be applicable; (iii) no Person may Beneficially Own or   Constructively Own shares of Capital Stock that would result in the Corporation being “closely held” under Section 856(h) of the Code or otherwise cause the   Corporation to fail to qualify as a REIT; and (iv) no Person may Transfer shares of Capital Stock if such Transfer would result in the Capital Stock of the Corporation   being owned by fewer than 100 Persons. Ownership of the Preferred Stock will be counted as Common Stock (on an as-converted basis), in addition to being   counted as Capital Stock, for purposes of such limitations. Any Person who Beneficially Owns or Constructively Owns, or attempts to Beneficially Own or   Constructively Own shares of Capital Stock which causes or will cause a Person to Beneficially Own or Constructively Own shares of Capital Stock in excess or   in violation of the above limitations must immediately notify the Corporation. If any of the above restrictions on Beneficial Ownership, Constructive Ownership or   Transfer are violated, the shares of Preferred Stock represented hereby will be automatically transferred to a Trust (as defined in the Certificate of Incorporation)   for the benefit of one or more Charitable Beneficiaries (as defined in the Certificate of Incorporation). In addition, the Board of Directors shall take such action as   it deems advisable to refuse to give effect to or to prevent such Transfer or other event, including, without limitation, causing the Corporation to redeem shares of   Capital Stock; provided, however, that any Transfer or attempted Transfer or other event in violation of the above restrictions on Beneficial Ownership, Constructive   Ownership and Transfer shall automatically result in the above transfer to the Trust and, where applicable, such Transfer (or other event) shall be void ab initio as   provided above irrespective of any action (or non-action) by the Board of Directors. The Board of Directors may, pursuant to Section 8.2.8 of the Certificate of   Incorporation, increase or decrease the percentage of Preferred Stock or Capital Stock that a person may Beneficially Own or Constructively Own.   A copy of the Certificate of Incorporation, including the above restrictions on Beneficial Ownership, Constructive Ownership and Transfer, will be furnished to each   holder of Capital Stock on request and without charge. Requests for such a copy may be directed to the Secretary of the Corporation at its principal office.   Signature(s) Guaranteed: Medallion Guarantee Stamp   THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks,   Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED   SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15.