VANGUARD INTL EQUITY INDEX F

Ticker: VPL CUSIP: 922042866 Class: FTSE PACIFIC ETF

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

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

Q3 2015
Shares 703,200 Value ($000) $37,755 Avg Close — Range —
Q2 2015
Shares 701,000 Value ($000) $42,782 Avg Close — Range —
Q1 2015
Shares 1,050,000 Value ($000) $64,344 Avg Close — Range —
Q4 2014
Shares 1,050,000 Value ($000) $59,903 Avg Close — Range —