SPDR SERIES TRUST

Ticker: KBE CUSIP: 78464A797 Class: S&P BK ETF

BW Gestao de Investimentos Ltda.'s Holding History (CIK: 0001568280)

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

Q1 2017
Shares 8,003 Value ($000) $344 Avg Close — Range —
Q4 2016
Shares 8,933 Value ($000) $388 Avg Close — Range —
Q3 2016
Shares 36,012 Value ($000) $1,202 Avg Close — Range —
Q2 2016
Shares 36,012 Value ($000) $1,098 Avg Close — Range —
Q1 2016
Shares 36,012 Value ($000) $1,094 Avg Close — Range —
Q4 2015
Shares 30,771 Value ($000) $1,041 Avg Close — Range —
Q3 2015
Shares 30,771 Value ($000) $1,023 Avg Close — Range —
Q2 2015
Shares 143,496 Value ($000) $5,203 Avg Close — Range —
Q1 2015
Shares 143,496 Value ($000) $4,809 Avg Close — Range —
Q4 2014
Shares 130,880 Value ($000) $4,391 Avg Close — Range —
Q3 2014
Shares 130,880 Value ($000) $4,176 Avg Close — Range —
Q2 2014
Shares 135,680 Value ($000) $4,534 Avg Close — Range —
Q1 2014
Shares 135,680 Value ($000) $4,619 Avg Close — Range —
Q4 2013
Shares 137,780 Value ($000) $4,570 Avg Close — Range —