ARCOS DORADOS HOLDINGS INC

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

GATES FOUNDATION TRUST's Holding History (CIK: 0001166559)

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

Q2 2020

Shares 3,060,500 Value ($000) $12,823 Avg Close $3.47 Range $2.63 - $4.98

Q1 2020

Shares 3,060,500 Value ($000) $10,222 Avg Close $5.81 Range $2.73 - $7.32

Q4 2019

Shares 3,060,500 Value ($000) $24,790 Avg Close $6.58 Range $5.57 - $7.48

Q3 2019

Shares 3,060,500 Value ($000) $20,567 Avg Close $6.46 Range $5.58 - $7.39

Q2 2019

Shares 3,060,500 Value ($000) $22,280 Avg Close $5.98 Range $5.23 - $6.44

Q1 2019

Shares 3,060,500 Value ($000) $21,944 Avg Close $7.32 Range $5.96 - $8.08

Q4 2018

Shares 3,060,500 Value ($000) $24,178 Avg Close $6.42 Range $5.43 - $7.51

Q3 2018

Shares 3,060,500 Value ($000) $19,128 Avg Close $5.91 Range $5.26 - $6.52

Q2 2018

Shares 3,060,500 Value ($000) $21,270 Avg Close $7.05 Range $5.87 - $8.35

Q1 2018

Shares 3,060,500 Value ($000) $28,004 Avg Close $8.34 Range $7.35 - $8.99

Q4 2017

Shares 3,060,500 Value ($000) $31,676 Avg Close $8.69 Range $7.95 - $9.34

Q3 2017

Shares 3,060,500 Value ($000) $30,758 Avg Close $7.68 Range $6.40 - $8.95

Q2 2017

Shares 3,060,500 Value ($000) $22,801 Avg Close $7.19 Range $6.40 - $8.24

Q1 2017

Shares 3,060,500 Value ($000) $24,637 Avg Close $5.48 Range $4.71 - $7.13

Q4 2016

Shares 3,060,500 Value ($000) $16,527 Avg Close $5.06 Range $4.45 - $5.71

Q3 2016

Shares 3,060,500 Value ($000) $16,129 Avg Close $4.61 Range $3.94 - $5.18

Q2 2016

Shares 3,060,500 Value ($000) $14,599 Avg Close $3.77 Range $2.84 - $4.44

Q1 2016

Shares 3,060,500 Value ($000) $11,477 Avg Close $2.46 Range $1.87 - $3.36

Q4 2015

Shares 3,060,500 Value ($000) $9,518 Avg Close $2.69 Range $2.22 - $3.43

Q3 2015

Shares 3,060,500 Value ($000) $8,325 Avg Close $3.40 Range $2.34 - $4.56

Q2 2015

Shares 3,060,500 Value ($000) $16,098 Avg Close $4.97 Range $4.15 - $5.71

Q1 2015

Shares 3,060,500 Value ($000) $15,088 Avg Close $4.52 Range $3.54 - $5.13

Q4 2014

Shares 3,060,500 Value ($000) $16,557 Avg Close $5.19 Range $4.42 - $6.05

Q3 2014

Shares 3,060,500 Value ($000) $18,302 Avg Close $7.02 Range $4.93 - $9.68

Q2 2014

Shares 3,060,500 Value ($000) $34,278 Avg Close $8.16 Range $6.95 - $9.59

Q1 2014

Shares 3,060,500 Value ($000) $30,850 Avg Close $8.05 Range $6.94 - $10.14

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2020	3,060,500	$12,823	$3.47	$2.63 - $4.98
Q1 2020	3,060,500	$10,222	$5.81	$2.73 - $7.32
Q4 2019	3,060,500	$24,790	$6.58	$5.57 - $7.48
Q3 2019	3,060,500	$20,567	$6.46	$5.58 - $7.39
Q2 2019	3,060,500	$22,280	$5.98	$5.23 - $6.44
Q1 2019	3,060,500	$21,944	$7.32	$5.96 - $8.08
Q4 2018	3,060,500	$24,178	$6.42	$5.43 - $7.51
Q3 2018	3,060,500	$19,128	$5.91	$5.26 - $6.52
Q2 2018	3,060,500	$21,270	$7.05	$5.87 - $8.35
Q1 2018	3,060,500	$28,004	$8.34	$7.35 - $8.99
Q4 2017	3,060,500	$31,676	$8.69	$7.95 - $9.34
Q3 2017	3,060,500	$30,758	$7.68	$6.40 - $8.95
Q2 2017	3,060,500	$22,801	$7.19	$6.40 - $8.24
Q1 2017	3,060,500	$24,637	$5.48	$4.71 - $7.13
Q4 2016	3,060,500	$16,527	$5.06	$4.45 - $5.71
Q3 2016	3,060,500	$16,129	$4.61	$3.94 - $5.18
Q2 2016	3,060,500	$14,599	$3.77	$2.84 - $4.44
Q1 2016	3,060,500	$11,477	$2.46	$1.87 - $3.36
Q4 2015	3,060,500	$9,518	$2.69	$2.22 - $3.43
Q3 2015	3,060,500	$8,325	$3.40	$2.34 - $4.56
Q2 2015	3,060,500	$16,098	$4.97	$4.15 - $5.71
Q1 2015	3,060,500	$15,088	$4.52	$3.54 - $5.13
Q4 2014	3,060,500	$16,557	$5.19	$4.42 - $6.05
Q3 2014	3,060,500	$18,302	$7.02	$4.93 - $9.68
Q2 2014	3,060,500	$34,278	$8.16	$6.95 - $9.59
Q1 2014	3,060,500	$30,850	$8.05	$6.94 - $10.14