GERDAU SA

Ticker: GGB CUSIP: 373737105 Class: ADR

WOLVERINE ASSET MANAGEMENT LLC's Holding History (CIK: 0001279891)

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

Q4 2014
Shares 15,050 Value ($000) $53 Avg Close — Range —
Q3 2014
Shares 3,950 Value ($000) $18 Avg Close — Range —
Q2 2014
Shares 10,850 Value ($000) $63 Avg Close — Range —
Q1 2014
Shares 7,550 Value ($000) $48 Avg Close — Range —
Q2 2013
Shares 34,650 Value ($000) $197 Avg Close — Range —