SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

G&S Capital LLC's Holding History (CIK: 0001731448)

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

Q1 2019

Shares 450 Value ($000) $93 Avg Close $17.66 Range $12.95 - $20.96

Q4 2018

Shares 450 Value ($000) $62 Avg Close $14.08 Range $11.76 - $16.69

Q3 2018

Shares 450 Value ($000) $74 Avg Close $15.23 Range $13.06 - $17.66

Q2 2018

Shares 450 Value ($000) $66 Avg Close $14.15 Range $11.25 - $17.51

Q1 2018

Shares 450 Value ($000) $56 Avg Close $12.94 Range $10.10 - $15.48

Q4 2017

Shares 450 Value ($000) $45 Avg Close $10.24 Range $8.94 - $12.07

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2019	450	$93	$17.66	$12.95 - $20.96
Q4 2018	450	$62	$14.08	$11.76 - $16.69
Q3 2018	450	$74	$15.23	$13.06 - $17.66
Q2 2018	450	$66	$14.15	$11.25 - $17.51
Q1 2018	450	$56	$12.94	$10.10 - $15.48
Q4 2017	450	$45	$10.24	$8.94 - $12.07