PAYCHEX INC

Ticker: PAYX CUSIP: 704326107 Class: COM

Nikko Asset Management Americas, Inc.'s Holding History (CIK: 0001480751)

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

Q4 2017

Shares 26,300 Value ($000) $1,577 Avg Close $51.63 Range $46.43 - $55.51

Q3 2017

Shares 26,300 Value ($000) $1,577 Avg Close $44.58 Range $42.41 - $47.62

Q2 2017

Shares 44,600 Value ($000) $2,540 Avg Close $45.43 Range $43.85 - $47.78

Q1 2017

Shares 31,300 Value ($000) $1,844 Avg Close $46.69 Range $43.94 - $48.53

Q4 2016

Shares 7,200 Value ($000) $438 Avg Close $43.92 Range $40.33 - $47.52

Q3 2016

Shares 20,400 Value ($000) $1,180 Avg Close $45.34 Range $43.20 - $46.70

Q2 2016

Shares 16,200 Value ($000) $909 Avg Close $40.17 Range $38.40 - $44.78

Q1 2016

Shares 10,800 Value ($000) $576 Avg Close $37.48 Range $33.83 - $40.71

Q3 2015

Shares 3,700 Value ($000) $170 Avg Close $34.10 Range $30.50 - $35.69

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2017	26,300	$1,577	$51.63	$46.43 - $55.51
Q3 2017	26,300	$1,577	$44.58	$42.41 - $47.62
Q2 2017	44,600	$2,540	$45.43	$43.85 - $47.78
Q1 2017	31,300	$1,844	$46.69	$43.94 - $48.53
Q4 2016	7,200	$438	$43.92	$40.33 - $47.52
Q3 2016	20,400	$1,180	$45.34	$43.20 - $46.70
Q2 2016	16,200	$909	$40.17	$38.40 - $44.78
Q1 2016	10,800	$576	$37.48	$33.83 - $40.71
Q3 2015	3,700	$170	$34.10	$30.50 - $35.69