SHORE BANCSHARES INC

Ticker: SHBI CUSIP: 825107105 Class: Common Stock

SHEPHERD KAPLAN KROCHUK, LLC's Holding History (CIK: 0001218583)

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

Q4 2013

Shares 39,072 Value ($000) $360 Avg Close $9.09 Range $8.50 - $9.45

Q3 2013

Shares 37,055 Value ($000) $326 Avg Close $8.14 Range $7.06 - $9.06

Q2 2013

Shares 37,055 Value ($000) $273 Avg Close $7.13 Range $5.97 - $7.75

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2013	39,072	$360	$9.09	$8.50 - $9.45
Q3 2013	37,055	$326	$8.14	$7.06 - $9.06
Q2 2013	37,055	$273	$7.13	$5.97 - $7.75