TUCOWS INC

Ticker: TCX CUSIP: 898697206 Class: Common Stock

ACADIAN ASSET MANAGEMENT LLC's Holding History (CIK: 0000916542)

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

Q2 2016

Shares 49,963 Value ($000) $1,218 Avg Close $23.75 Range $21.47 - $26.48

Q1 2016

Shares 122,774 Value ($000) $2,757 Avg Close $20.94 Range $17.67 - $23.21

Q4 2015

Shares 248,919 Value ($000) $5,252 Avg Close $24.43 Range $19.60 - $28.60

Q3 2015

Shares 440,978 Value ($000) $10,205 Avg Close $26.04 Range $22.29 - $32.23

Q2 2015

Shares 3,044 Value ($000) $85 Avg Close $22.65 Range $17.37 - $29.73

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	49,963	$1,218	$23.75	$21.47 - $26.48
Q1 2016	122,774	$2,757	$20.94	$17.67 - $23.21
Q4 2015	248,919	$5,252	$24.43	$19.60 - $28.60
Q3 2015	440,978	$10,205	$26.04	$22.29 - $32.23
Q2 2015	3,044	$85	$22.65	$17.37 - $29.73