ARMOUR Residential REIT Inc. Watch

from S-3ASR 48 pages ARMOUR Residential REIT, Inc. and , Trustee Indenture Dated as of , ___ Providing for Issuance of Subordinated Debt Securities in Series

from S-3ASR 47 pages ARMOUR Residential REIT, Inc. and , Trustee Indenture Dated as of , ___ Providing for Issuance of Senior Debt Securities in Series

from 10-K 10 pages Description of ARMOUR Residential REIT, Inc.’s Securities Registered Pursuant to Section 12 of the Securities and Exchange Act of 1934

from 10-K 10 pages Description of ARMOUR Residential REIT, Inc.’s Securities Registered Pursuant to Section 12 of the Securities and Exchange Act of 1934

from 10-K 10 pages Description of ARMOUR Residential REIT, Inc.’s Securities Registered Pursuant to Section 12 of the Securities and Exchange Act of 1934

from S-3ASR 48 pages ARMOUR Residential REIT, Inc. and , Trustee Indenture Dated as of , ___ Providing for Issuance of Subordinated Debt Securities in Series

from S-3ASR 46 pages ARMOUR Residential REIT, Inc. and , Trustee Indenture Dated as of , ___ Providing for Issuance of Senior Debt Securities in Series

from 10-K 10 pages Description of ARMOUR Residential REIT, Inc.’s Securities Registered Pursuant to Section 12 of the Securities and Exchange Act of 1934

from 10-K 10 pages Description of ARMOUR Residential REIT, Inc.’s Securities Registered Pursuant to Section 12 of the Securities and Exchange Act of 1934

from 8-A12B 3 pages See Reverse for Important Notice Regarding Ownership and Transfer Restrictions and Certain Other Information Pc Incorporated Under the Laws of the State of Maryland 7.00% Series C Cumulative Redeemable Preferred Stock Liquidation Preference $25.00 Per Share, $0.001 Par Value Cusip 042315 60 6 See Reverse for Certain Definitions Fully Paid and Non-Assessable Shares of 7.00% Series C Cumulative Redeemable Preferred Stock Liquidation Preference $25.00 Per Share, $0.001 Par Value, ARMOUR Residential REIT Inc. Transferable on the Books of the Corporation by the Holder Hereof in Person or by Duly Authorized Attorney Upon Surrender of This Certificate Property Endorsed. This Certificate and the Shares Represented Hereby Are Issued and Shall Be Held Subject to All the Provisions of the Articles of Incorporation,as Amended, and Bylaws of the Corporation, as Amended(copies of Which Are on File at the Office of the Transfer Agent), to All of Which the Holder of This Certificate by Acceptance Hereof Assents. This Certificate Is Not Valid Until Countersigned by the Transfer Agent and the Registered by the Registrar. Witness the Facsimile Seal of the Corporation and the Facsimile Signatures of Its Duly Authorized Officers. Ident Dated: Es Ial R R R E I U T , O I N M C R . a 2009 M a D Rylan 0000001 Secretary President

from S-3ASR 48 pages ARMOUR Residential REIT, Inc. and , Trustee Indenture Dated as of , ___ Providing for Issuance of Subordinated Debt Securities in Series

from S-3ASR 45 pages ARMOUR Residential REIT, Inc. and , Trustee Indenture Dated as of , ___ Providing for Issuance of Senior Debt Securities in Series

from S-3ASR 57 pages ARMOUR Residential REIT, Inc. and , Trustee Indenture Dated as of , ___ Providing for Issuance of Subordinated Debt Securities in Series

from S-3ASR 53 pages ARMOUR Residential REIT, Inc. and , Trustee Indenture Dated as of , ___ Providing for Issuance of Senior Debt Securities in Series

from 8-A12B 2 pages Indenture or similar

from 8-A12B 2 pages Indenture or similar

from S-3 57 pages ARMOUR Residential REIT, Inc. and , Trustee Indenture Dated as of , ___ Providing for Issuance of Subordinated Debt Securities in Series

from S-3 53 pages ARMOUR Residential REIT, Inc. and , Trustee Indenture Dated as of , ___ Providing for Issuance of Senior Debt Securities in Series

from 8-K 3 pages Supplement & Amendment to Warrant Agreement

from S-4/A 3 pages Number ARR.W (See Reverse Side for Legend) This Warrant Will Be Void if Not Exercised Prior to 5:00 P.M. New York City Time, November 7, 2013 Warrants ARMOUR Residential REIT, Inc