SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

TWO SIGMA ADVISERS, LP's Holding History (CIK: 0001478735)

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

Q4 2025

Shares 14,100 Value ($000) $2,270 Avg Close $160.56 Range $136.18 - $182.19

Q3 2025

Shares 3,900 Value ($000) $580 Avg Close $135.57 Range $111.33 - $159.01

Q4 2024

Shares 2,950 Value ($000) $314 Avg Close $97.26 Range $77.12 - $120.72

Q2 2024

Shares 11,350 Value ($000) $750 Avg Close $66.33 Range $56.31 - $79.29

Q1 2024

Shares 163,650 Value ($000) $12,629 Avg Close $79.00 Range $70.61 - $91.57

Q4 2023

Shares 236,250 Value ($000) $18,404 Avg Close $63.86 Range $45.50 - $79.99

Q3 2023

Shares 91,050 Value ($000) $4,969 Avg Close $60.59 Range $50.59 - $71.43

Q2 2023

Shares 2,599,550 Value ($000) $167,931 Avg Close $56.53 Range $43.50 - $67.36

Q1 2023

Shares 437,750 Value ($000) $20,986 Avg Close $44.00 Range $34.65 - $54.66

Q4 2022

Shares 61,850 Value ($000) $2,147 Avg Close $34.15 Range $23.63 - $45.06

Q3 2022

Shares 2,704,550 Value ($000) $72,861 Avg Close $34.02 Range $26.38 - $45.43

Q2 2022

Shares 5,027,650 Value ($000) $157,064 Avg Close $42.70 Range $29.76 - $74.13

Q1 2022

Shares 35,315 Value ($000) $23,872 Avg Close $82.11 Range $51.00 - $139.37

Q4 2020

Shares 4,615 Value ($000) $5,224 Avg Close $104.97 Range $87.50 - $128.52

Q3 2020

Shares 14,500 Value ($000) $14,833 Avg Close $99.42 Range $83.94 - $114.69

Q2 2020

Shares 3,900 Value ($000) $3,702 Avg Close $69.41 Range $33.45 - $95.88

Q1 2020

Shares 278,951 Value ($000) $116,303 Avg Close $45.08 Range $30.53 - $59.39

Q4 2019

Shares 484,600 Value ($000) $192,667 Avg Close $33.82 Range $28.21 - $41.66

Q3 2019

Shares 1,023,451 Value ($000) $318,969 Avg Close $34.24 Range $28.61 - $40.96

Q2 2019

Shares 573,651 Value ($000) $172,181 Avg Close $26.03 Range $19.04 - $33.89

Q3 2017

Shares 6,161 Value ($000) $718 Avg Close $10.21 Range $8.48 - $12.39

Q4 2016

Shares 181,747 Value ($000) $7,791 Avg Close $4.20 Range $3.77 - $4.54

Q3 2016

Shares 212,700 Value ($000) $9,129 Avg Close $3.82 Range $3.00 - $4.52

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	14,100	$2,270	$160.56	$136.18 - $182.19
Q3 2025	3,900	$580	$135.57	$111.33 - $159.01
Q4 2024	2,950	$314	$97.26	$77.12 - $120.72
Q2 2024	11,350	$750	$66.33	$56.31 - $79.29
Q1 2024	163,650	$12,629	$79.00	$70.61 - $91.57
Q4 2023	236,250	$18,404	$63.86	$45.50 - $79.99
Q3 2023	91,050	$4,969	$60.59	$50.59 - $71.43
Q2 2023	2,599,550	$167,931	$56.53	$43.50 - $67.36
Q1 2023	437,750	$20,986	$44.00	$34.65 - $54.66
Q4 2022	61,850	$2,147	$34.15	$23.63 - $45.06
Q3 2022	2,704,550	$72,861	$34.02	$26.38 - $45.43
Q2 2022	5,027,650	$157,064	$42.70	$29.76 - $74.13
Q1 2022	35,315	$23,872	$82.11	$51.00 - $139.37
Q4 2020	4,615	$5,224	$104.97	$87.50 - $128.52
Q3 2020	14,500	$14,833	$99.42	$83.94 - $114.69
Q2 2020	3,900	$3,702	$69.41	$33.45 - $95.88
Q1 2020	278,951	$116,303	$45.08	$30.53 - $59.39
Q4 2019	484,600	$192,667	$33.82	$28.21 - $41.66
Q3 2019	1,023,451	$318,969	$34.24	$28.61 - $40.96
Q2 2019	573,651	$172,181	$26.03	$19.04 - $33.89
Q3 2017	6,161	$718	$10.21	$8.48 - $12.39
Q4 2016	181,747	$7,791	$4.20	$3.77 - $4.54
Q3 2016	212,700	$9,129	$3.82	$3.00 - $4.52