ADECOAGRO S A

Ticker: AGRO CUSIP: L00849106 Class: Common Stock

Carrhae Capital LLP's Holding History (CIK: 0001555254)

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

Q4 2016

Shares 749,953 Value ($000) $7,785 Avg Close $9.58 Range $8.66 - $10.42

Q3 2016

Shares 527,800 Value ($000) $6,022 Avg Close $9.40 Range $8.34 - $10.21

Q2 2016

Shares 336,400 Value ($000) $3,690 Avg Close $9.77 Range $8.95 - $10.45

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	749,953	$7,785	$9.58	$8.66 - $10.42
Q3 2016	527,800	$6,022	$9.40	$8.34 - $10.21
Q2 2016	336,400	$3,690	$9.77	$8.95 - $10.45