SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

Aperio Group, LLC's Holding History (CIK: 0001364615)

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

Q4 2020

Shares 13,028 Value ($000) $563 Avg Close $44.90 Range $42.31 - $48.01

Q3 2020

Shares 13,805 Value ($000) $613 Avg Close $50.97 Range $42.18 - $56.77

Q2 2020

Shares 13,710 Value ($000) $676 Avg Close $50.71 Range $44.04 - $59.93

Q1 2020

Shares 13,176 Value ($000) $649 Avg Close $44.42 Range $38.35 - $51.00

Q4 2019

Shares 8,507 Value ($000) $354 Avg Close $35.41 Range $29.61 - $41.73

Q2 2019

Shares 3,929 Value ($000) $151 Avg Close $41.46 Range $36.40 - $45.27

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2020	13,028	$563	$44.90	$42.31 - $48.01
Q3 2020	13,805	$613	$50.97	$42.18 - $56.77
Q2 2020	13,710	$676	$50.71	$44.04 - $59.93
Q1 2020	13,176	$649	$44.42	$38.35 - $51.00
Q4 2019	8,507	$354	$35.41	$29.61 - $41.73
Q2 2019	3,929	$151	$41.46	$36.40 - $45.27