FIRST WATCH RESTAURANT GROUP

Ticker: FWRG CUSIP: 33748L101 Class: COM

Arizona State Retirement System's Holding History (CIK: 0001558481)

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

Q4 2025

Shares 15,295 Value ($000) $231 Avg Close $16.85 Range $14.81 - $18.82

Q3 2025

Shares 13,518 Value ($000) $211 Avg Close $17.43 Range $15.20 - $19.53

Q2 2025

Shares 11,544 Value ($000) $185 Avg Close $16.79 Range $12.90 - $20.55

Q1 2025

Shares 12,091 Value ($000) $201 Avg Close $19.25 Range $15.45 - $22.71

Q4 2024

Shares 12,265 Value ($000) $228 Avg Close $17.67 Range $12.90 - $22.01

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	15,295	$231	$16.85	$14.81 - $18.82
Q3 2025	13,518	$211	$17.43	$15.20 - $19.53
Q2 2025	11,544	$185	$16.79	$12.90 - $20.55
Q1 2025	12,091	$201	$19.25	$15.45 - $22.71
Q4 2024	12,265	$228	$17.67	$12.90 - $22.01