SELECT SECTOR SPDR TR

Ticker: XLRE CUSIP: 81369Y860 Class: Exchange Traded Fund

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

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

Q4 2021

Shares 65,500 Value ($000) $3,394 Avg Close — Range —

Q3 2021

Shares 65,500 Value ($000) $2,911 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2021	65,500	$3,394	—	—
Q3 2021	65,500	$2,911	—	—