POWERSHARES ETF TRUST

CUSIP: 73935X575 Class: COM

Arrow Financial Corp's Holding History (CIK: 0000717538)

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

Q3 2015
Shares 250 Value ($000) $5 Avg Close — Range —
Q2 2015
Shares 250 Value ($000) $6 Avg Close — Range —
Q1 2015
Shares 250 Value ($000) $6 Avg Close — Range —
Q4 2014
Shares 1,250 Value ($000) $32 Avg Close — Range —
Q3 2014
Shares 1,250 Value ($000) $31 Avg Close — Range —
Q2 2014
Shares 1,250 Value ($000) $33 Avg Close — Range —
Q1 2014
Shares 1,250 Value ($000) $33 Avg Close — Range —
Q4 2013
Shares 1,250 Value ($000) $33 Avg Close — Range —
Q3 2013
Shares 1,250 Value ($000) $30 Avg Close — Range —
Q2 2013
Shares 1,250 Value ($000) $28 Avg Close — Range —