ARCOS DORADOS HOLDINGS INC

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

PZENA INVESTMENT MANAGEMENT LLC's Holding History (CIK: 0001027796)

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

Q4 2025

Shares 10,562,564 Value ($000) $77,529 Avg Close $7.14 Range $6.49 - $7.77

Q3 2025

Shares 11,427,294 Value ($000) $77,134 Avg Close $6.98 Range $6.40 - $7.93

Q2 2025

Shares 6,533,482 Value ($000) $51,549 Avg Close $7.38 Range $6.50 - $8.11

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	10,562,564	$77,529	$7.14	$6.49 - $7.77
Q3 2025	11,427,294	$77,134	$6.98	$6.40 - $7.93
Q2 2025	6,533,482	$51,549	$7.38	$6.50 - $8.11