SM ENERGY CO

Ticker: SM CUSIP: 78454L100 Class: EQTY

NATIONAL BANK OF CANADA /FI/'s Holding History (CIK: 0000926171)

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

Q4 2025

Shares 6,155 Value ($000) $115 Avg Close $20.02 Range $17.39 - $25.89

Q3 2025

Shares 5,945 Value ($000) $148 Avg Close $26.40 Range $23.79 - $28.66

Q2 2025

Shares 5,667 Value ($000) $140 Avg Close $23.52 Range $18.97 - $29.62

Q1 2025

Shares 7,872 Value ($000) $236 Avg Close $34.54 Range $25.71 - $43.13

Q4 2024

Shares 6,975 Value ($000) $270 Avg Close $40.47 Range $34.67 - $44.54

Q3 2024

Shares 6,483 Value ($000) $259 Avg Close $41.40 Range $36.09 - $46.14

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	6,155	$115	$20.02	$17.39 - $25.89
Q3 2025	5,945	$148	$26.40	$23.79 - $28.66
Q2 2025	5,667	$140	$23.52	$18.97 - $29.62
Q1 2025	7,872	$236	$34.54	$25.71 - $43.13
Q4 2024	6,975	$270	$40.47	$34.67 - $44.54
Q3 2024	6,483	$259	$41.40	$36.09 - $46.14