PANERA BREAD CO

CUSIP: 69840W108 Class: CL A

STATE OF MICHIGAN RETIREMENT SYSTEM's Holding History (CIK: 0000762152)

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

Q2 2017
Shares 8,800 Value ($000) $2,769 Avg Close — Range —
Q1 2017
Shares 8,700 Value ($000) $2,278 Avg Close — Range —
Q4 2016
Shares 8,800 Value ($000) $1,805 Avg Close — Range —
Q3 2016
Shares 9,000 Value ($000) $1,752 Avg Close — Range —
Q2 2016
Shares 9,100 Value ($000) $1,929 Avg Close — Range —
Q1 2016
Shares 9,200 Value ($000) $1,884 Avg Close — Range —
Q4 2015
Shares 9,400 Value ($000) $1,831 Avg Close — Range —
Q3 2015
Shares 11,200 Value ($000) $2,166 Avg Close — Range —
Q2 2015
Shares 11,600 Value ($000) $2,027 Avg Close — Range —
Q1 2015
Shares 11,500 Value ($000) $1,840 Avg Close — Range —
Q4 2014
Shares 12,200 Value ($000) $2,133 Avg Close — Range —
Q3 2014
Shares 12,200 Value ($000) $1,985 Avg Close — Range —
Q2 2014
Shares 12,300 Value ($000) $1,843 Avg Close — Range —
Q1 2014
Shares 12,400 Value ($000) $2,188 Avg Close — Range —
Q4 2013
Shares 12,500 Value ($000) $2,209 Avg Close — Range —
Q3 2013
Shares 13,100 Value ($000) $2,077 Avg Close — Range —
Q2 2013
Shares 12,900 Value ($000) $2,399 Avg Close — Range —