ADECOAGRO S A

Ticker: AGRO CUSIP: L00849106 Class: Common Stock

Gramercy Funds Management LLC's Holding History (CIK: 0001548836)

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

Q1 2017

Shares 19,775 Value ($000) $227 Avg Close $10.45 Range $9.23 - $11.82

Q4 2016

Shares 19,775 Value ($000) $205 Avg Close $9.58 Range $8.66 - $10.42

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	19,775	$227	$10.45	$9.23 - $11.82
Q4 2016	19,775	$205	$9.58	$8.66 - $10.42