SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

HAMILTON LANE ADVISORS LLC's Holding History (CIK: 0001573767)

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

Q4 2016

Shares 32,521 Value ($000) $1,394 Avg Close $4.20 Range $3.77 - $4.54

Q2 2016

Shares 27,981 Value ($000) $820 Avg Close $2.92 Range $2.50 - $3.24

Q1 2016

Shares 22,175 Value ($000) $626 Avg Close $2.37 Range $1.85 - $2.88

Q4 2015

Shares 120,189 Value ($000) $3,101 Avg Close $2.94 Range $2.41 - $3.93

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	32,521	$1,394	$4.20	$3.77 - $4.54
Q2 2016	27,981	$820	$2.92	$2.50 - $3.24
Q1 2016	22,175	$626	$2.37	$1.85 - $2.88
Q4 2015	120,189	$3,101	$2.94	$2.41 - $3.93