NOVARTIS AG

Ticker: NVS CUSIP: 66987V109 Class: SPONSORED ADR

SHEPHERD KAPLAN KROCHUK, LLC's Holding History (CIK: 0001218583)

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

Q2 2015
Shares 2,400 Value ($000) $236 Avg Close — Range —
Q1 2015
Shares 2,400 Value ($000) $237 Avg Close — Range —
Q4 2014
Shares 3,560 Value ($000) $330 Avg Close — Range —
Q3 2014
Shares 3,560 Value ($000) $335 Avg Close — Range —
Q2 2014
Shares 3,000 Value ($000) $272 Avg Close — Range —
Q1 2014
Shares 3,000 Value ($000) $255 Avg Close — Range —
Q4 2013
Shares 3,000 Value ($000) $241 Avg Close — Range —
Q3 2013
Shares 3,000 Value ($000) $230 Avg Close — Range —
Q2 2013
Shares 3,000 Value ($000) $212 Avg Close — Range —