Black River Asset Management’s Grupo Cibest S.A. American Depositary Shares (each representing four (4) Preferred Shares) CIB Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q3	–	Sell	-75,000	Closed	-$3.23M	–	3
2015 Q2	$3.23M	Buy	+75,000	New	+$3.23M	1.72%	14