GERDAU SA

Ticker: GGB CUSIP: 373737105 Class: ADR

GAM Holding AG's Holding History (CIK: 0001438848)

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

Q4 2014
Shares 11,000 Value ($000) $39 Avg Close — Range —
Q3 2014
Shares 11,800 Value ($000) $57 Avg Close — Range —
Q2 2014
Shares 63,900 Value ($000) $376 Avg Close — Range —
Q1 2014
Shares 13,900 Value ($000) $89 Avg Close — Range —
Q3 2013
Shares 17,600 Value ($000) $131 Avg Close — Range —