CHIPOTLE MEXICAN GRILL INC

Ticker: CMG CUSIP: 169656105 Class: COM

Bandera Partners LLC's Holding History (CIK: 0001399386)

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

Q4 2016

Shares 20,000 Value ($000) $7,546 Avg Close $7.89 Range $7.06 - $8.80

Q3 2016

Shares 16,000 Value ($000) $6,776 Avg Close $8.22 Range $7.72 - $8.88

Q2 2016

Shares 16,000 Value ($000) $6,444 Avg Close $8.69 Range $7.70 - $9.46

Q1 2016

Shares 16,000 Value ($000) $7,536 Avg Close $9.51 Range $7.98 - $10.85

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	20,000	$7,546	$7.89	$7.06 - $8.80
Q3 2016	16,000	$6,776	$8.22	$7.72 - $8.88
Q2 2016	16,000	$6,444	$8.69	$7.70 - $9.46
Q1 2016	16,000	$7,536	$9.51	$7.98 - $10.85