BOSTON BEER INC

Ticker: SAM CUSIP: 100557107 Class: CL A

VIRGINIA RETIREMENT SYSTEMS ET AL's Holding History (CIK: 0001005354)

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

Q4 2025

Shares 2,988 Value ($000) $583 Avg Close $206.20 Range $189.92 - $243.73

Q3 2025

Shares 3,388 Value ($000) $716 Avg Close $212.75 Range $187.00 - $232.00

Q2 2025

Shares 2,188 Value ($000) $417 Avg Close $230.18 Range $185.34 - $260.00

Q1 2025

Shares 1,888 Value ($000) $451 Avg Close $243.60 Range $215.10 - $302.68

Q3 2023

Shares 3,000 Value ($000) $1,169 Avg Close $350.39 Range $296.27 - $392.94

Q2 2023

Shares 1,500 Value ($000) $463 Avg Close $321.59 Range $300.68 - $344.03

Q1 2022

Shares 700 Value ($000) $272 Avg Close $416.96 Range $342.74 - $535.00

Q4 2021

Shares 800 Value ($000) $404 Avg Close $499.43 Range $435.12 - $556.68

Q2 2021

Shares 3,500 Value ($000) $3,573 Avg Close $1122.26 Range $963.71 - $1349.98

Q1 2021

Shares 2,300 Value ($000) $2,774 Avg Close $1048.96 Range $885.35 - $1256.04

Q4 2020

Shares 1,800 Value ($000) $1,790 Avg Close $959.73 Range $865.85 - $1092.80

Q3 2020

Shares 1,500 Value ($000) $1,325 Avg Close $789.85 Range $534.63 - $935.52

Q2 2020

Shares 500 Value ($000) $268 Avg Close $484.26 Range $349.11 - $587.85

Q1 2020

Shares 1,700 Value ($000) $625 Avg Close $370.86 Range $290.02 - $433.62

Q3 2019

Shares 2,300 Value ($000) $837 Avg Close $393.06 Range $336.06 - $444.65

Q2 2019

Shares 700 Value ($000) $264 Avg Close $316.66 Range $258.34 - $379.35

Q2 2018

Shares 1,200 Value ($000) $360 Avg Close $243.65 Range $185.95 - $307.00

Q3 2016

Shares 1,600 Value ($000) $248 Avg Close $174.40 Range $146.87 - $195.35

Q4 2015

Shares 4,500 Value ($000) $909 Avg Close $219.24 Range $198.68 - $260.51

Q3 2015

Shares 4,700 Value ($000) $990 Avg Close $221.14 Range $195.04 - $238.72

Q3 2014

Shares 1,979 Value ($000) $439 Avg Close $223.81 Range $213.37 - $233.93

Q2 2014

Shares 1,979 Value ($000) $442 Avg Close $227.88 Range $208.82 - $248.00

Q1 2014

Shares 2,379 Value ($000) $582 Avg Close $227.93 Range $202.78 - $249.81

Q4 2013

Shares 2,379 Value ($000) $575 Avg Close $240.06 Range $223.00 - $265.53

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	2,988	$583	$206.20	$189.92 - $243.73
Q3 2025	3,388	$716	$212.75	$187.00 - $232.00
Q2 2025	2,188	$417	$230.18	$185.34 - $260.00
Q1 2025	1,888	$451	$243.60	$215.10 - $302.68
Q3 2023	3,000	$1,169	$350.39	$296.27 - $392.94
Q2 2023	1,500	$463	$321.59	$300.68 - $344.03
Q1 2022	700	$272	$416.96	$342.74 - $535.00
Q4 2021	800	$404	$499.43	$435.12 - $556.68
Q2 2021	3,500	$3,573	$1122.26	$963.71 - $1349.98
Q1 2021	2,300	$2,774	$1048.96	$885.35 - $1256.04
Q4 2020	1,800	$1,790	$959.73	$865.85 - $1092.80
Q3 2020	1,500	$1,325	$789.85	$534.63 - $935.52
Q2 2020	500	$268	$484.26	$349.11 - $587.85
Q1 2020	1,700	$625	$370.86	$290.02 - $433.62
Q3 2019	2,300	$837	$393.06	$336.06 - $444.65
Q2 2019	700	$264	$316.66	$258.34 - $379.35
Q2 2018	1,200	$360	$243.65	$185.95 - $307.00
Q3 2016	1,600	$248	$174.40	$146.87 - $195.35
Q4 2015	4,500	$909	$219.24	$198.68 - $260.51
Q3 2015	4,700	$990	$221.14	$195.04 - $238.72
Q3 2014	1,979	$439	$223.81	$213.37 - $233.93
Q2 2014	1,979	$442	$227.88	$208.82 - $248.00
Q1 2014	2,379	$582	$227.93	$202.78 - $249.81
Q4 2013	2,379	$575	$240.06	$223.00 - $265.53