ARCOS DORADOS HOLDINGS INC

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

Penserra Capital Management LLC's Holding History (CIK: 0001593324)

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

Q3 2016

Shares 7,045 Value ($000) $37 Avg Close $4.61 Range $3.94 - $5.18

Q2 2016

Shares 13,920 Value ($000) $66 Avg Close $3.77 Range $2.84 - $4.44

Q1 2016

Shares 15,512 Value ($000) $58 Avg Close $2.46 Range $1.87 - $3.36

Q4 2015

Shares 15,512 Value ($000) $48 Avg Close $2.69 Range $2.22 - $3.43

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	7,045	$37	$4.61	$3.94 - $5.18
Q2 2016	13,920	$66	$3.77	$2.84 - $4.44
Q1 2016	15,512	$58	$2.46	$1.87 - $3.36
Q4 2015	15,512	$48	$2.69	$2.22 - $3.43