POWERSHARES ETF TRUST II

CUSIP: 73936q769 Class: COM

Narwhal Capital Management's Holding History (CIK: 0001461287)

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

Q2 2014
Shares 32,300 Value ($000) $803 Avg Close — Range —
Q1 2014
Shares 36,600 Value ($000) $908 Avg Close — Range —
Q4 2013
Shares 22,030 Value ($000) $548 Avg Close — Range —