VANGUARD INTL EQUITY INDEX F

Ticker: VWO CUSIP: 922042858 Class: FTSE EMR MKT ETF

BW Gestao de Investimentos Ltda.'s Holding History (CIK: 0001568280)

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

Q1 2017
Shares 20,290 Value ($000) $806 Avg Close — Range —
Q4 2016
Shares 20,290 Value ($000) $726 Avg Close — Range —
Q3 2016
Shares 43,698 Value ($000) $1,644 Avg Close — Range —
Q2 2016
Shares 48,573 Value ($000) $1,711 Avg Close — Range —
Q1 2016
Shares 48,573 Value ($000) $1,680 Avg Close — Range —
Q4 2015
Shares 91,806 Value ($000) $3,003 Avg Close — Range —
Q3 2015
Shares 30,536 Value ($000) $1,010 Avg Close — Range —
Q2 2015
Shares 25,464 Value ($000) $1,041 Avg Close — Range —
Q1 2015
Shares 25,464 Value ($000) $1,041 Avg Close — Range —