DOUGLAS DYNAMICS INC

Ticker: PLOW CUSIP: 25960R105 Class: Common Stock

NORDEA INVESTMENT MANAGEMENT AB's Holding History (CIK: 0001218210)

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

Q2 2015

Shares 19,300 Value ($000) $415 Avg Close $21.72 Range $20.06 - $23.45

Q1 2015

Shares 18,700 Value ($000) $427 Avg Close $21.63 Range $18.68 - $23.86

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2015	19,300	$415	$21.72	$20.06 - $23.45
Q1 2015	18,700	$427	$21.63	$18.68 - $23.86