SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

Royal Fund Management, LLC's Holding History (CIK: 0001810099)

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

Q4 2025

Shares 1,769 Value ($000) $285 Avg Close $160.56 Range $136.18 - $182.19

Q3 2025

Shares 11,842 Value ($000) $1,760 Avg Close $135.57 Range $111.33 - $159.01

Q2 2025

Shares 43,797 Value ($000) $5,052 Avg Close $100.02 Range $69.84 - $117.36

Q1 2025

Shares 22,276 Value ($000) $2,127 Avg Close $108.97 Range $89.10 - $129.38

Q2 2024

Shares 15,351 Value ($000) $1,014 Avg Close $66.33 Range $56.31 - $79.29

Q1 2024

Shares 14,997 Value ($000) $1,157 Avg Close $79.00 Range $70.61 - $91.57

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	1,769	$285	$160.56	$136.18 - $182.19
Q3 2025	11,842	$1,760	$135.57	$111.33 - $159.01
Q2 2025	43,797	$5,052	$100.02	$69.84 - $117.36
Q1 2025	22,276	$2,127	$108.97	$89.10 - $129.38
Q2 2024	15,351	$1,014	$66.33	$56.31 - $79.29
Q1 2024	14,997	$1,157	$79.00	$70.61 - $91.57