TIM PARTICIPACOES S A

CUSIP: 88706P205 Class: ADR

GAM Holding AG's Holding History (CIK: 0001438848)

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

Q4 2014
Shares 7,000 Value ($000) $155 Avg Close — Range —
Q3 2014
Shares 10,000 Value ($000) $262 Avg Close — Range —
Q2 2014
Shares 10,000 Value ($000) $290 Avg Close — Range —
Q1 2014
Shares 10,000 Value ($000) $260 Avg Close — Range —
Q3 2013
Shares 11,300 Value ($000) $266 Avg Close — Range —