LENDER DANIEL

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Earnings

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Abbreviations B: Buy, S: Sell, PP: Planned purchase, PS: Planned sale, O: Option / Other

Notification date	Transaction date	B/S Transaction type	Nb. shares Price Value	Number of shares	Price	Value	Details
2020-12-22	2020-12-22	QAD Inc (QADA)	S Sale	7,501 -4.6% 60.34 USD 452,610	7,501 -4.6%	60.34	USD 452,610
2020-12-22	2020-12-21	QAD Inc (QADA)	S Sale	12,499 -7.2% 60.30 USD 753,690	12,499 -7.2%	60.30	USD 753,690
2020-07-07	2020-07-07	QAD Inc (QADA)	S Sale	5,423 -3.0% 40.15 USD 217,733	5,423 -3.0%	40.15	USD 217,733
2020-07-07	2020-07-06	QAD Inc (QADA)	S Sale	8,523 -4.5% 41.02 USD 349,613	8,523 -4.5%	41.02	USD 349,613
2020-04-20	2020-04-20	QAD Inc (QADA)	S Sale	6,000 -3.3% 40.40 USD 242,400	6,000 -3.3%	40.40	USD 242,400
2020-04-20	2020-04-17	QAD Inc (QADA)	S Sale	1,931 -1.1% 40.00 USD 77,240	1,931 -1.1%	40.00	USD 77,240
2020-04-16	2020-04-15	QAD Inc (QADA)	S Sale	5,071 -2.7% 40.47 USD 205,223	5,071 -2.7%	40.47	USD 205,223
2020-04-16	2020-04-14	QAD Inc (QADA)	S Sale	2,570 -1.3% 42.85 USD 110,125	2,570 -1.3%	42.85	USD 110,125