SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

Bayforest Capital Ltd's Holding History (CIK: 0002048423)

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

Q4 2025

Shares 942 Value ($000) $152 Avg Close $160.56 Range $136.18 - $182.19

Q3 2025

Shares 754 Value ($000) $112 Avg Close $135.57 Range $111.33 - $159.01

Q2 2025

Shares 1,177 Value ($000) $136 Avg Close $100.02 Range $69.84 - $117.36

Q1 2025

Shares 400 Value ($000) $38 Avg Close $108.97 Range $89.10 - $129.38

Q4 2024

Shares 2,392 Value ($000) $254 Avg Close $97.26 Range $77.12 - $120.72

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	942	$152	$160.56	$136.18 - $182.19
Q3 2025	754	$112	$135.57	$111.33 - $159.01
Q2 2025	1,177	$136	$100.02	$69.84 - $117.36
Q1 2025	400	$38	$108.97	$89.10 - $129.38
Q4 2024	2,392	$254	$97.26	$77.12 - $120.72