TELECOM ARGENTINA S A

Ticker: TEO CUSIP: 879273209 Class: ADR

Capital Innovations LLC's Holding History (CIK: 0001596076)

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

Q1 2014
Shares 12,626 Value ($000) $241 Avg Close — Range —
Q4 2013
Shares 15,556 Value ($000) $268 Avg Close — Range —