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TFS CAPITAL LLC
> EBS
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 09/30/2017 | Emergent BioSolutions Inc. | EBS | 0 | -30,350 | 0 | -1,029,000 | |
| 06/30/2017 | Emergent BioSolutions Inc. | EBS | 30,350 | -6,562 | 1,029,000 | -43,000 | $33.90 |
| 03/31/2017 | Emergent BioSolutions Inc. | EBS | 36,912 | 36,912 | 1,072,000 | 1,072,000 | $29.04 |
| 12/31/2016 | Emergent BioSolutions Inc. | EBS | 0 | -54,512 | 0 | -1,719,000 | |
| 09/30/2016 | Emergent BioSolutions Inc. | EBS | 54,512 | 39,567 | 1,719,000 | 1,299,000 | $31.53 |
| 06/30/2016 | Emergent BioSolutions Inc. | EBS | 14,945 | -98,601 | 420,000 | -1,743,000 | $28.10 |
| 03/31/2016 | Emergent BioSolutions Inc. | EBS | 26,686 | -86,860 | 970,000 | -1,193,000 | $36.35 |
| 12/31/2015 | Emergent BioSolutions Inc. | EBS | 196,322 | 82,776 | 7,855,000 | 5,692,000 | $40.01 |
| 09/30/2015 | Emergent BioSolutions Inc. | EBS | 72,241 | -41,305 | 2,058,000 | -105,000 | $28.49 |
| 06/30/2015 | Emergent BioSolutions Inc. | EBS | 10,340 | -103,206 | 341,000 | -1,822,000 | $32.98 |
| 03/31/2015 | Emergent BioSolutions Inc. | EBS | 149,318 | 35,772 | 4,294,000 | 2,131,000 | $28.76 |
| 12/31/2014 | Emergent BioSolutions Inc. | EBS | 133,355 | 90,374 | 3,631,000 | 2,715,000 | $27.23 |
| 09/30/2014 | Emergent BioSolutions Inc. | EBS | 42,981 | -70,565 | 916,000 | -1,247,000 | $21.31 |
| 06/30/2014 | Emergent BioSolutions Inc. | EBS | 0 | -34,575 | 0 | -874,000 | |
| 03/31/2014 | Emergent BioSolutions Inc. | EBS | 34,575 | -78,971 | 874,000 | -1,289,000 | $25.28 |
| 12/31/2013 | Emergent BioSolutions Inc. | EBS | 86,799 | -26,747 | 1,996,000 | -167,000 | $23.00 |
| 09/30/2013 | Emergent BioSolutions Inc. | EBS | 113,546 | 8,348 | 2,163,000 | 646,000 | $19.05 |
| 06/30/2013 | Emergent BioSolutions Inc. | EBS | 105,198 | -267,057 | 1,517,000 | -4,454,000 | $14.42 |
| 03/31/2013 | Emergent BioSolutions Inc. | EBS | 205,902 | -166,353 | 2,879,000 | -3,092,000 | $13.98 |
| 12/31/2012 | Emergent BioSolutions Inc. | EBS | 372,255 | 243,528 | 5,971,000 | 4,021,000 | $16.04 |
| 06/30/2012 | Emergent BioSolutions Inc. | EBS | 128,727 | 5,924 | 1,950,000 | -15,000 | $15.15 |
| 03/31/2012 | Emergent BioSolutions Inc. | EBS | 122,803 | 16,142 | 1,965,000 | 169,000 | $16.00 |
| 12/31/2011 | Emergent BioSolutions Inc. | EBS | 106,661 | 52,869 | 1,796,000 | 966,000 | $16.84 |
| 09/30/2011 | Emergent BioSolutions Inc. | EBS | 53,792 | 53,792 | 830,000 | 830,000 | $15.43 |
| 06/30/2011 | Emergent BioSolutions Inc. | EBS | 0 | -79,211 | 0 | -1,914,000 | |
| 03/31/2011 | Emergent BioSolutions Inc. | EBS | 79,211 | 16,833 | 1,914,000 | 451,000 | $24.16 |
| 12/31/2010 | Emergent BioSolutions Inc. | EBS | 62,378 | 37,934 | 1,463,000 | 1,041,000 | $23.45 |
| 09/30/2010 | Emergent BioSolutions Inc. | EBS | 24,444 | 1,096 | 422,000 | 40,000 | $17.26 |
| 06/30/2010 | Emergent BioSolutions Inc. | EBS | 23,348 | -93,819 | 382,000 | -1,210,000 | $16.36 |
| 12/31/2009 | Emergent BioSolutions Inc. | EBS | 117,167 | 54,201 | 1,592,000 | 480,000 | $13.59 |
| 09/30/2009 | Emergent BioSolutions Inc. | EBS | 62,966 | 62,966 | 1,112,000 | 1,112,000 | $17.66 |
| 03/31/2009 | Emergent BioSolutions Inc. | EBS | 0 | -70,461 | 0 | -1,840,000 | |
| 12/31/2008 | Emergent BioSolutions Inc. | EBS | 70,461 | 70,461 | 1,840,000 | 1,840,000 | $26.11 |
| 09/30/2008 | Emergent BioSolutions Inc. | EBS | 80,466 | -33,659 | 1,053,000 | -80,000 | $13.09 |
| 06/30/2008 | Emergent BioSolutions Inc. | EBS | 114,125 | 18,063 | 1,133,000 | 276,000 | $9.93 |
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