COPA HOLDINGS SA

Ticker: CPA CUSIP: P31076105 Class: CL A

Copeland Capital Management, LLC's Holding History (CIK: 0001541743)

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

Q3 2014

Shares 7,826 Value ($000) $840 Avg Close $94.10 Range $73.98 - $111.29

Q2 2014

Shares 7,400 Value ($000) $1,055 Avg Close $98.21 Range $91.49 - $103.49

Q1 2014

Shares 5,468 Value ($000) $794 Avg Close $96.87 Range $84.72 - $113.10

Q4 2013

Shares 3,560 Value ($000) $570 Avg Close $104.68 Range $94.55 - $112.08

Q3 2013

Shares 1,600 Value ($000) $222 Avg Close $94.41 Range $86.04 - $101.79

Q2 2013

Shares 1,794 Value ($000) $235 Avg Close $87.82 Range $75.65 - $98.42

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	7,826	$840	$94.10	$73.98 - $111.29
Q2 2014	7,400	$1,055	$98.21	$91.49 - $103.49
Q1 2014	5,468	$794	$96.87	$84.72 - $113.10
Q4 2013	3,560	$570	$104.68	$94.55 - $112.08
Q3 2013	1,600	$222	$94.41	$86.04 - $101.79
Q2 2013	1,794	$235	$87.82	$75.65 - $98.42