INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

Mawer Investment Management Ltd.'s Holding History (CIK: 0001538449)

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

Q1 2014

Shares 235,866 Value ($000) $45,411 Avg Close $109.22 Range $101.79 - $116.27

Q4 2013

Shares 355,280 Value ($000) $66,392 Avg Close $106.40 Range $101.46 - $111.01

Q3 2013

Shares 385,681 Value ($000) $71,404 Avg Close $111.55 Range $106.48 - $117.56

Q2 2013

Shares 371,059 Value ($000) $70,968 Avg Close $118.94 Range $109.29 - $125.13

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	235,866	$45,411	$109.22	$101.79 - $116.27
Q4 2013	355,280	$66,392	$106.40	$101.46 - $111.01
Q3 2013	385,681	$71,404	$111.55	$106.48 - $117.56
Q2 2013	371,059	$70,968	$118.94	$109.29 - $125.13