PIPER SANDLER COMPANIES

Ticker: PIPR CUSIP: 724078100 Class: EQTY

Royal Fund Management, LLC's Holding History (CIK: 0001810099)

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

Q4 2018

Shares 107 Value ($000) $7 Avg Close $69.76 Range $61.35 - $78.11

Q3 2018

Shares 107 Value ($000) $8 Avg Close $76.80 Range $72.60 - $80.70

Q2 2018

Shares 107 Value ($000) $8 Avg Close $78.29 Range $67.75 - $85.80

Q1 2018

Shares 107 Value ($000) $8 Avg Close $88.45 Range $79.85 - $99.80

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2018	107	$7	$69.76	$61.35 - $78.11
Q3 2018	107	$8	$76.80	$72.60 - $80.70
Q2 2018	107	$8	$78.29	$67.75 - $85.80
Q1 2018	107	$8	$88.45	$79.85 - $99.80