Stock Performance Graph page 78 Period Ending Index 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 Auburn National Bancorporation, Inc. 100.00 78.02 73.81 74.77 79.29 76.23 NASDAQ Composite 110.66 66.42 96.54 114.06 113.16 SNL Southeast Bank 100.00 75.33 30.50 30.62 29.73 17.39 The following performance graph compares the cumulative, total return on the Company’s Common Stock from  December 31, 2006 to December 31, 2011, with that of the Nasdaq Composite Index and SNL Southeast Bank Index  (assuming a $100 investment on December 31, 2006). Cumulative total return represents the change in stock price and the  amount of dividends received over the indicated period, assuming the reinvestment of dividends.  STOCK PERFORMANCE GRAPH