TEL OFFSHORE TRUST

CUSIP: 872382106 Class: Common / Ordinary Stock

OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC's Holding History (CIK: 0001005607)

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

Q4 2015
Shares 17,000 Value ($000) $0 Avg Close — Range —
Q3 2015
Shares 17,000 Value ($000) $2 Avg Close — Range —
Q2 2015
Shares 17,000 Value ($000) $2 Avg Close — Range —
Q1 2015
Shares 17,000 Value ($000) $6 Avg Close — Range —
Q4 2014
Shares 17,000 Value ($000) $2 Avg Close — Range —
Q3 2014
Shares 17,000 Value ($000) $3 Avg Close — Range —
Q2 2014
Shares 17,000 Value ($000) $17 Avg Close — Range —
Q1 2014
Shares 17,000 Value ($000) $22 Avg Close — Range —
Q4 2013
Shares 17,000 Value ($000) $20 Avg Close — Range —
Q3 2013
Shares 17,000 Value ($000) $30 Avg Close — Range —
Q2 2013
Shares 17,000 Value ($000) $54 Avg Close — Range —