ADECOAGRO S A

Ticker: AGRO CUSIP: L00849106 Class: Common Stock

Graticule Asia Macro Advisors LLC's Holding History (CIK: 0001619390)

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

Q1 2018

Shares 395,040 Value ($000) $2,971 Avg Close $8.14 Range $6.44 - $9.46

Q4 2017

Shares 280,040 Value ($000) $2,896 Avg Close $8.93 Range $7.41 - $9.92

Q3 2017

Shares 330,040 Value ($000) $3,564 Avg Close $8.91 Range $8.47 - $9.67

Q2 2017

Shares 273,840 Value ($000) $2,736 Avg Close $9.73 Range $8.58 - $10.60

Q1 2017

Shares 282,207 Value ($000) $3,234 Avg Close $10.45 Range $9.23 - $11.82

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2018	395,040	$2,971	$8.14	$6.44 - $9.46
Q4 2017	280,040	$2,896	$8.93	$7.41 - $9.92
Q3 2017	330,040	$3,564	$8.91	$8.47 - $9.67
Q2 2017	273,840	$2,736	$9.73	$8.58 - $10.60
Q1 2017	282,207	$3,234	$10.45	$9.23 - $11.82