ADECOAGRO S A

Ticker: AGRO CUSIP: L00849106 Class: Common Stock

Brevan Howard Capital Management LP's Holding History (CIK: 0001512857)

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

Q1 2016

Shares 2,350,484 Value ($000) $27,148 Avg Close $10.80 Range $9.46 - $11.94

Q4 2015

Shares 2,923,298 Value ($000) $35,927 Avg Close $9.38 Range $7.05 - $11.16

Q3 2015

Shares 2,677,565 Value ($000) $21,313 Avg Close $7.58 Range $5.97 - $8.54

Q2 2015

Shares 2,419,764 Value ($000) $22,310 Avg Close $8.85 Range $8.00 - $9.59

Q1 2015

Shares 1,243,757 Value ($000) $12,711 Avg Close $7.75 Range $6.79 - $10.16

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	2,350,484	$27,148	$10.80	$9.46 - $11.94
Q4 2015	2,923,298	$35,927	$9.38	$7.05 - $11.16
Q3 2015	2,677,565	$21,313	$7.58	$5.97 - $8.54
Q2 2015	2,419,764	$22,310	$8.85	$8.00 - $9.59
Q1 2015	1,243,757	$12,711	$7.75	$6.79 - $10.16