ARCOS DORADOS HOLDINGS INC

Ticker: ARCO CUSIP: G0457F107 Class: SHS CLASS -A -

UNITED SERVICES AUTOMOBILE ASSOCIATION's Holding History (CIK: 0001021249)

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

Q1 2017

Shares 238,281 Value ($000) $1,918 Avg Close $5.48 Range $4.71 - $7.13

Q4 2016

Shares 238,281 Value ($000) $1,287 Avg Close $5.06 Range $4.45 - $5.71

Q3 2016

Shares 274,184 Value ($000) $1,445 Avg Close $4.61 Range $3.94 - $5.18

Q2 2016

Shares 303,570 Value ($000) $1,448 Avg Close $3.77 Range $2.84 - $4.44

Q1 2016

Shares 303,570 Value ($000) $1,138 Avg Close $2.46 Range $1.87 - $3.36

Q4 2015

Shares 303,570 Value ($000) $944 Avg Close $2.69 Range $2.22 - $3.43

Q3 2015

Shares 303,570 Value ($000) $826 Avg Close $3.40 Range $2.34 - $4.56

Q2 2015

Shares 303,570 Value ($000) $1,597 Avg Close $4.97 Range $4.15 - $5.71

Q1 2015

Shares 303,570 Value ($000) $1,497 Avg Close $4.52 Range $3.54 - $5.13

Q4 2014

Shares 180,070 Value ($000) $974 Avg Close $5.19 Range $4.42 - $6.05

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	238,281	$1,918	$5.48	$4.71 - $7.13
Q4 2016	238,281	$1,287	$5.06	$4.45 - $5.71
Q3 2016	274,184	$1,445	$4.61	$3.94 - $5.18
Q2 2016	303,570	$1,448	$3.77	$2.84 - $4.44
Q1 2016	303,570	$1,138	$2.46	$1.87 - $3.36
Q4 2015	303,570	$944	$2.69	$2.22 - $3.43
Q3 2015	303,570	$826	$3.40	$2.34 - $4.56
Q2 2015	303,570	$1,597	$4.97	$4.15 - $5.71
Q1 2015	303,570	$1,497	$4.52	$3.54 - $5.13
Q4 2014	180,070	$974	$5.19	$4.42 - $6.05