Apollo Management Holdings, L.P.

Holdings History for GERDAU S.A. - SPON ADR REP PFD (GGB)

Symbol: GGB on NYSE
Investment type: Equity / SPON ADR REP PFD

Holdings date	Option	Weight	Change	Value $	Shares	Change	Activity %	Price	All Holders
31 Mar 2016	call		-0.38%	$0	0	-1,325,000	-100%	$4.12	Q1 2016
31 Dec 2015	call	0.38%	0%	$1,590,000	1,325,000	0		$1.20	Q4 2015
30 Sep 2015	call	0.38%	+0.38%	$1,815,000	1,325,000	+1,325,000	NEW	$1.37	Q3 2015

* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.