California Public Employees Retirement System’s Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) GOL Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q2	–	Sell	-173,313	Closed	-$1.93M	–	3815
2014 Q1	$1.93M	Buy	173,313 +30,469	+21%	+$339K	﹤0.01%	2105
2013 Q4	$1.27M	Buy	+142,844	New	+$1.27M	﹤0.01%	2415