AMERICAN AIRLS GROUP INC

Ticker: AAL CUSIP: 02376R102 Class: COM

BW Gestao de Investimentos Ltda.'s Holding History (CIK: 0001568280)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 605,000 Value ($000) $9,275 Avg Close $13.49 Range $11.16 - $16.35

Q4 2024

Shares 127,500 Value ($000) $2,222 Avg Close $14.38 Range $10.57 - $18.20

Q3 2024

Shares 85,000 Value ($000) $955 Avg Close $10.58 Range $9.07 - $11.98

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	605,000	$9,275	$13.49	$11.16 - $16.35
Q4 2024	127,500	$2,222	$14.38	$10.57 - $18.20
Q3 2024	85,000	$955	$10.58	$9.07 - $11.98