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NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION
> DOW
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2015 | DOW CHEMICAL CO /DE/ | DOW | 2,841,300 | 0 | 146,270,000 | 25,799,000 | $51.48 |
| 09/30/2015 | DOW CHEMICAL CO /DE/ | DOW | 2,841,300 | 0 | 120,471,000 | -24,919,000 | $42.40 |
| 06/30/2015 | DOW CHEMICAL CO /DE/ | DOW | 2,841,300 | 0 | 145,390,000 | 9,064,000 | $51.17 |
| 03/31/2015 | DOW CHEMICAL CO /DE/ | DOW | 2,841,300 | 0 | 136,326,000 | 6,734,000 | $47.98 |
| 12/31/2014 | DOW CHEMICAL CO /DE/ | DOW | 2,841,300 | 0 | 129,592,000 | -19,406,000 | $45.61 |
| 09/30/2014 | DOW CHEMICAL CO /DE/ | DOW | 2,841,300 | 0 | 148,998,000 | 2,785,000 | $52.44 |
| 06/30/2014 | DOW CHEMICAL CO /DE/ | DOW | 2,841,300 | 0 | 146,213,000 | 8,154,000 | $51.46 |
| 03/31/2014 | DOW CHEMICAL CO /DE/ | DOW | 2,841,300 | -200,000 | 138,059,000 | 3,025,000 | $48.59 |
| 12/31/2013 | DOW CHEMICAL CO /DE/ | DOW | 3,041,300 | 0 | 135,034,000 | 18,248,000 | $44.40 |
| 09/30/2013 | DOW CHEMICAL CO /DE/ | DOW | 3,041,300 | 3,041,300 | 116,786,000 | 116,786,000 | $38.40 |
| 06/30/2013 | DOW CHEMICAL CO /DE/ | DOW | 2,991,300 | 0 | 96,231,000 | 988,000 | $32.17 |
| 03/31/2013 | DOW CHEMICAL CO /DE/ | DOW | 2,991,300 | 0 | 95,243,000 | -1,436,000 | $31.84 |
| 12/31/2012 | DOW CHEMICAL CO /DE/ | DOW | 2,991,300 | 65,000 | 96,679,000 | 11,934,000 | $32.32 |
| 09/30/2012 | DOW CHEMICAL CO /DE/ | DOW | 2,926,300 | 0 | 84,745,000 | -7,433,000 | $28.96 |
| 06/30/2012 | DOW CHEMICAL CO /DE/ | DOW | 2,926,300 | 0 | 92,178,000 | -9,189,000 | $31.50 |
| 03/31/2012 | DOW CHEMICAL CO /DE/ | DOW | 2,926,300 | 0 | 101,367,000 | 17,206,000 | $34.64 |
| 12/31/2011 | DOW CHEMICAL CO /DE/ | DOW | 2,926,300 | 90,000 | 84,161,000 | 20,457,000 | $28.76 |
| 09/30/2011 | DOW CHEMICAL CO /DE/ | DOW | 2,836,300 | 0 | 63,704,000 | -38,402,000 | $22.46 |
| 06/30/2011 | DOW CHEMICAL CO /DE/ | DOW | 2,836,300 | 0 | 102,106,000 | -4,964,000 | $36.00 |
| 03/31/2011 | DOW CHEMICAL CO /DE/ | DOW | 2,836,300 | 0 | 107,070,000 | 10,239,000 | $37.75 |
| 12/31/2010 | DOW CHEMICAL CO /DE/ | DOW | 2,836,300 | 0 | 96,831,000 | 18,946,000 | $34.14 |
| 09/30/2010 | DOW CHEMICAL CO /DE/ | DOW | 2,836,300 | 0 | 77,885,000 | 10,607,000 | $27.46 |
| 06/30/2010 | DOW CHEMICAL CO /DE/ | DOW | 2,836,300 | 0 | 67,278,000 | -16,591,000 | $23.72 |
| 03/31/2010 | DOW CHEMICAL CO /DE/ | DOW | 2,836,300 | 0 | 83,869,000 | 5,502,000 | $29.57 |
| 12/31/2009 | DOW CHEMICAL CO /DE/ | DOW | 2,836,300 | 0 | 78,367,000 | 4,424,000 | $27.63 |
| 09/30/2009 | DOW CHEMICAL CO /DE/ | DOW | 2,836,300 | 501,600 | 73,943,000 | 36,261,000 | $26.07 |
| 06/30/2009 | DOW CHEMICAL CO /DE/ | DOW | 2,334,700 | 0 | 37,682,000 | 18,000,000 | $16.14 |
| 03/31/2009 | DOW CHEMICAL CO /DE/ | DOW | 2,334,700 | 0 | 19,682,000 | -15,548,000 | $8.43 |
| 12/31/2008 | DOW CHEMICAL CO /DE/ | DOW | 2,334,700 | 700,000 | 35,230,000 | -16,721,000 | $15.09 |
| 09/30/2008 | DOW CHEMICAL CO /DE/ | DOW | 1,634,700 | 43,800 | 51,951,000 | -3,588,000 | $31.78 |
| 06/30/2008 | DOW CHEMICAL CO /DE/ | DOW | 1,590,900 | 0 | 55,539,000 | -3,086,000 | $34.91 |
| 03/31/2008 | DOW CHEMICAL CO /DE/ | DOW | 1,590,900 | 0 | 58,625,000 | 0 | $36.85 |
| 01/31/2008 | DOW CHEMICAL CO /DE/ | DOW | 1,590,900 | 60,900 | 58,625,000 | -1,688,000 | $36.85 |
| 12/31/2007 | DOW CHEMICAL CO /DE/ | DOW | 1,530,000 | 0 | 60,313,000 | -5,569,000 | $39.42 |
| 09/30/2007 | DOW CHEMICAL CO /DE/ | DOW | 1,530,000 | 484,000 | 65,882,000 | 19,628,000 | $43.06 |
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