ROYAL DUTCH SHELL PLC

CUSIP: 780259206 Class: SPONS ADR A

STATE OF MICHIGAN RETIREMENT SYSTEM's Holding History (CIK: 0000762152)

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

Q1 2014
Shares 28,534 Value ($000) $2,085 Avg Close — Range —
Q4 2013
Shares 95,767 Value ($000) $6,825 Avg Close — Range —
Q3 2013
Shares 191,536 Value ($000) $12,580 Avg Close — Range —
Q2 2013
Shares 191,536 Value ($000) $12,220 Avg Close — Range —