ISHARES INC

Ticker: EWZ CUSIP: 464286400 Class: MSCI BRAZIL ETF

Arbor Investment Advisors, LLC's Holding History (CIK: 0001590073)

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

Q2 2015
Shares 6,834 Value ($000) $224 Avg Close — Range —
Q1 2015
Shares 6,680 Value ($000) $210 Avg Close — Range —
Q4 2014
Shares 6,680 Value ($000) $244 Avg Close — Range —
Q3 2014
Shares 6,618 Value ($000) $288 Avg Close — Range —
Q2 2014
Shares 6,511 Value ($000) $311 Avg Close — Range —
Q1 2014
Shares 5,634 Value ($000) $254 Avg Close — Range —
Q4 2013
Shares 4,524 Value ($000) $202 Avg Close — Range —
Q3 2013
Shares 4,465 Value ($000) $214 Avg Close — Range —
Q2 2013
Shares 4,716 Value ($000) $207 Avg Close — Range —
Q1 2013
Shares 4,716 Value ($000) $257 Avg Close — Range —
Q4 2012
Shares 5,089 Value ($000) $285 Avg Close — Range —
Q3 2012
Shares 5,296 Value ($000) $286 Avg Close — Range —
Q2 2012
Shares 5,296 Value ($000) $274 Avg Close — Range —
Q1 2012
Shares 5,200 Value ($000) $336 Avg Close — Range —
Q4 2011
Shares 5,508 Value ($000) $316 Avg Close — Range —
Q3 2011
Shares 6,021 Value ($000) $313 Avg Close — Range —
Q2 2011
Shares 5,721 Value ($000) $420 Avg Close — Range —
Q1 2011
Shares 5,653 Value ($000) $438 Avg Close — Range —
Q4 2010
Shares 5,725 Value ($000) $443 Avg Close — Range —