SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

Lisanti Capital Growth, LLC's Holding History (CIK: 0001424467)

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

Q3 2016

Shares 15,050 Value ($000) $646 Avg Close $3.82 Range $3.00 - $4.52

Q1 2016

Shares 20,520 Value ($000) $579 Avg Close $2.37 Range $1.85 - $2.88

Q3 2015

Shares 18,703 Value ($000) $658 Avg Close $3.17 Range $2.27 - $4.11

Q2 2015

Shares 13,200 Value ($000) $448 Avg Close $3.07 Range $1.70 - $4.21

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	15,050	$646	$3.82	$3.00 - $4.52
Q1 2016	20,520	$579	$2.37	$1.85 - $2.88
Q3 2015	18,703	$658	$3.17	$2.27 - $4.11
Q2 2015	13,200	$448	$3.07	$1.70 - $4.21