INOVIO PHARMACEUTICALS INC

CUSIP: 45773H201 Class: Common Stock

Employees Retirement System of Texas's Holding History (CIK: 0001398739)

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

Q4 2016
Shares 124,000 Value ($000) $861 Avg Close — Range —
Q3 2016
Shares 124,000 Value ($000) $1,156 Avg Close — Range —
Q2 2016
Shares 124,000 Value ($000) $1,146 Avg Close — Range —
Q1 2016
Shares 124,000 Value ($000) $1,080 Avg Close — Range —
Q4 2015
Shares 124,000 Value ($000) $833 Avg Close — Range —
Q3 2015
Shares 124,000 Value ($000) $717 Avg Close — Range —
Q2 2015
Shares 74,000 Value ($000) $604 Avg Close — Range —
Q1 2015
Shares 74,000 Value ($000) $604 Avg Close — Range —
Q4 2014
Shares 150,000 Value ($000) $1,377 Avg Close — Range —