MERCANTILE BANK CORP

Ticker: MBWM CUSIP: 587376104 Class: Common Stock

Copeland Capital Management, LLC's Holding History (CIK: 0001541743)

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

Q4 2019

Shares 428 Value ($000) $16 Avg Close $27.83 Range $24.96 - $29.70

Q3 2019

Shares 428 Value ($000) $14 Avg Close $25.24 Range $23.31 - $26.97

Q2 2019

Shares 428 Value ($000) $14 Avg Close $25.50 Range $23.74 - $26.93

Q1 2019

Shares 416 Value ($000) $14 Avg Close $25.60 Range $21.46 - $27.59

Q4 2018

Shares 403 Value ($000) $11 Avg Close $23.28 Range $20.34 - $26.17

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2019	428	$16	$27.83	$24.96 - $29.70
Q3 2019	428	$14	$25.24	$23.31 - $26.97
Q2 2019	428	$14	$25.50	$23.74 - $26.93
Q1 2019	416	$14	$25.60	$21.46 - $27.59
Q4 2018	403	$11	$23.28	$20.34 - $26.17