ALVAREZ CARLOS

• 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
2021-02-26	2021-02-25	Cullen/Frost Bankers Inc (CFR)	S Sale	40,000 -12.0% 107.31 USD 4,292,400	40,000 -12.0%	107.31	USD 4,292,400
2021-02-23	2021-02-22	Cullen/Frost Bankers Inc (CFR)	S Sale	40,000 -10.7% 105.04 USD 4,201,600	40,000 -10.7%	105.04	USD 4,201,600
2021-02-18	2021-02-17	Cullen/Frost Bankers Inc (CFR)	S Sale	40,000 -9.7% 102.36 USD 4,094,400	40,000 -9.7%	102.36	USD 4,094,400
2021-02-11	2021-02-09	Cullen/Frost Bankers Inc (CFR)	S Sale	40,000 -8.8% 99.12 USD 3,964,800	40,000 -8.8%	99.12	USD 3,964,800