PETROLEO BRASILEIRO SA PETRO

Ticker: PBR CUSIP: 71654V408 Class: ADR

Baldwin Investment Management, LLC's Holding History (CIK: 0001346378)

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

Q4 2013
Shares 10,128 Value ($000) $140 Avg Close — Range —
Q3 2013
Shares 10,528 Value ($000) $163 Avg Close — Range —
Q2 2013
Shares 10,528 Value ($000) $141 Avg Close — Range —