SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS's Holding History (CIK: 0001083190)

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

Q4 2025

Shares 75,175 Value ($000) $12,101 Avg Close $160.56 Range $136.18 - $182.19

Q3 2025

Shares 75,175 Value ($000) $11,172 Avg Close $135.57 Range $111.33 - $159.01

Q2 2025

Shares 87,475 Value ($000) $10,090 Avg Close $100.02 Range $69.84 - $117.36

Q1 2025

Shares 87,475 Value ($000) $8,352 Avg Close $108.97 Range $89.10 - $129.38

Q4 2024

Shares 87,475 Value ($000) $9,301 Avg Close $97.26 Range $77.12 - $120.72

Q3 2024

Shares 109,485 Value ($000) $8,774 Avg Close $69.07 Range $48.56 - $81.15

Q2 2024

Shares 109,485 Value ($000) $7,231 Avg Close $66.33 Range $56.31 - $79.29

Q1 2024

Shares 109,485 Value ($000) $8,449 Avg Close $79.00 Range $70.61 - $91.57

Q4 2023

Shares 109,485 Value ($000) $8,529 Avg Close $63.86 Range $45.50 - $79.99

Q3 2023

Shares 109,485 Value ($000) $5,975 Avg Close $60.59 Range $50.59 - $71.43

Q2 2023

Shares 142,120 Value ($000) $9,181 Avg Close $56.53 Range $43.50 - $67.36

Q1 2023

Shares 142,120 Value ($000) $6,813 Avg Close $44.00 Range $34.65 - $54.66

Q4 2022

Shares 142,120 Value ($000) $5 Avg Close $34.15 Range $23.63 - $45.06

Q3 2022

Shares 232,410 Value ($000) $6,261 Avg Close $34.02 Range $26.38 - $45.43

Q2 2022

Shares 232,410 Value ($000) $7,260 Avg Close $42.70 Range $29.76 - $74.13

Q1 2022

Shares 9,029 Value ($000) $6,103 Avg Close $82.11 Range $51.00 - $139.37

Q4 2021

Shares 9,029 Value ($000) $12,436 Avg Close $146.12 Range $127.19 - $176.29

Q3 2021

Shares 9,029 Value ($000) $12,241 Avg Close $149.84 Range $134.11 - $165.00

Q2 2021

Shares 9,029 Value ($000) $13,191 Avg Close $123.22 Range $102.51 - $155.22

Q1 2021

Shares 9,029 Value ($000) $9,991 Avg Close $120.82 Range $100.51 - $149.97

Q1 2017

Shares 8,900 Value ($000) $606 Avg Close $5.76 Range $4.21 - $7.30

Q4 2016

Shares 44,800 Value ($000) $1,921 Avg Close $4.20 Range $3.77 - $4.54

Q3 2016

Shares 44,100 Value ($000) $1,893 Avg Close $3.82 Range $3.00 - $4.52

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	75,175	$12,101	$160.56	$136.18 - $182.19
Q3 2025	75,175	$11,172	$135.57	$111.33 - $159.01
Q2 2025	87,475	$10,090	$100.02	$69.84 - $117.36
Q1 2025	87,475	$8,352	$108.97	$89.10 - $129.38
Q4 2024	87,475	$9,301	$97.26	$77.12 - $120.72
Q3 2024	109,485	$8,774	$69.07	$48.56 - $81.15
Q2 2024	109,485	$7,231	$66.33	$56.31 - $79.29
Q1 2024	109,485	$8,449	$79.00	$70.61 - $91.57
Q4 2023	109,485	$8,529	$63.86	$45.50 - $79.99
Q3 2023	109,485	$5,975	$60.59	$50.59 - $71.43
Q2 2023	142,120	$9,181	$56.53	$43.50 - $67.36
Q1 2023	142,120	$6,813	$44.00	$34.65 - $54.66
Q4 2022	142,120	$5	$34.15	$23.63 - $45.06
Q3 2022	232,410	$6,261	$34.02	$26.38 - $45.43
Q2 2022	232,410	$7,260	$42.70	$29.76 - $74.13
Q1 2022	9,029	$6,103	$82.11	$51.00 - $139.37
Q4 2021	9,029	$12,436	$146.12	$127.19 - $176.29
Q3 2021	9,029	$12,241	$149.84	$134.11 - $165.00
Q2 2021	9,029	$13,191	$123.22	$102.51 - $155.22
Q1 2021	9,029	$9,991	$120.82	$100.51 - $149.97
Q1 2017	8,900	$606	$5.76	$4.21 - $7.30
Q4 2016	44,800	$1,921	$4.20	$3.77 - $4.54
Q3 2016	44,100	$1,893	$3.82	$3.00 - $4.52