Digimarc Corp.

DateInflation Amount Per Share*
12/2/1999**$36.0697***
12/3/1999$36.0697
12/6/1999$36.0697
12/7/1999$36.0697
12/8/1999$36.0697
12/9/1999$36.0697
12/10/1999$35.0321
12/13/1999$31.2057
12/14/1999$26.4297
12/15/1999$23.059
12/16/1999$31.3222
12/17/1999$36.0697
12/20/1999$35.7835
12/21/1999$36.0697
12/22/1999$36.0697
12/23/1999$36.0697
12/27/1999$36.0007
12/28/1999$33.6616
12/29/1999$33.5023
12/30/1999$29.9612
12/31/1999$28.3821
1/3/2000$29.7081
1/4/2000$30.2666
1/5/2000$27.3211
1/6/2000$26.6491
1/7/2000$24.4129
1/10/2000$22.753
1/11/2000$21.8233
1/12/2000$22.8715
1/13/2000$22.0136
1/14/2000$22.0958
1/18/2000$19.1219
1/19/2000$19.9557
1/20/2000$23.6333
1/21/2000$22.707
1/24/2000$25.2523
1/25/2000$29.6051
1/26/2000$35.9626
1/27/2000$35.0712
1/28/2000$35.6277
1/31/2000$33.1694
2/1/2000$36.0697
2/2/2000$36.0697
2/3/2000$36.0697
2/4/2000$36.0697
2/7/2000$36.0697
2/8/2000$36.0697
2/9/2000$36.0697
2/10/2000$36.0697
2/11/2000$36.0697
2/14/2000$36.0697
2/15/2000$36.0697
2/16/2000$35.9243
2/17/2000$36.0697
2/18/2000$36.0697
2/22/2000$33.6436
2/23/2000$30.7576
2/24/2000$28.5011
2/25/2000$30.8851
2/28/2000$28.653
2/29/2000$33.267
3/1/2000$35.5397
3/2/2000$36.0697
3/3/2000$36.0697
3/6/2000$36.0697
3/7/2000$36.0697
3/8/2000$36.0697
3/9/2000$36.0697
3/10/2000$36.0697
3/13/2000$36.0697
3/14/2000$36.0697
3/15/2000$36.0697
3/16/2000$36.0697
3/17/2000$36.0697
3/20/2000$35.1243
3/21/2000$26.2713
3/22/2000$28.1019
3/23/2000$25.9431
3/24/2000$24.5747
3/27/2000$22.0172
3/28/2000$20.7683
3/29/2000$19.7615
3/30/2000$17.9933
3/31/2000$19.4113
4/3/2000$12.9213
4/4/2000$9.2604
4/5/2000$7.363
4/6/2000$9.2555
4/7/2000$13.3514
4/10/2000$13.4878
4/11/2000$12.1499
4/12/2000$12.3691
4/13/2000$13.6433
4/14/2000$6.3578
4/17/2000$1.1781
4/18/2000$3.2155
4/19/2000$3.9982
4/20/2000$4.5359
4/24/2000$2.5654
4/25/2000$2.1828
4/26/2000$2.4118
4/27/2000$1.0227
4/28/2000$1.146
5/1/2000$9.582
5/2/2000$9.1472
5/3/2000$9.0132
5/4/2000$7.5472
5/5/2000$9.2908
5/8/2000$8.5435
5/9/2000$4.7085
5/10/2000$6.4589
5/11/2000$7.3447
5/12/2000$9.5629
5/15/2000$10.65
5/16/2000$19.6502
5/17/2000$22.7716
5/18/2000$15.0685
5/19/2000$15.3099
5/22/2000$10.2947
5/23/2000$10.458
5/24/2000$10.1568
5/25/2000$8.8429
5/26/2000$10.7451
5/30/2000$6.7498
5/31/2000$6.2458
6/1/2000$8.9005
6/2/2000$8.8012
6/5/2000$11.7393
6/6/2000$12.1684
6/7/2000$10.9334
6/8/2000$15.087
6/9/2000$18.3278
6/12/2000$16.8244
6/13/2000$13.8656
6/14/2000$16.1646
6/15/2000$15.9506
6/16/2000$12.8191
6/19/2000$13.9423
6/20/2000$13.6093
6/21/2000$15.6042
6/22/2000$17.6181
6/23/2000$16.5131
6/26/2000$17.5334
6/27/2000$18.2728
6/28/2000$15.5314
6/29/2000$15.5903
6/30/2000$15.9656
7/3/2000$13.3003
7/5/2000$13.0154
7/6/2000$12.7788
7/7/2000$7.7603
7/10/2000$6.5816
7/11/2000$3.2442
7/12/2000$4.017
7/13/2000$4.6499
7/14/2000$3.2206
7/17/2000$2.3218
7/18/2000$1.5488
7/19/2000$1.8196
7/20/2000$0.5794
7/21/2000$0.4827
7/24/2000$0.0995
7/25/2000$0.2261
7/26/2000$0.3141
7/27/2000$0.3872
7/28/2000$0.3962
7/31/2000$0.5213
8/1/2000$0.2788
8/2/2000$0.3185
8/3/2000$0.2872
8/4/2000$0.4153
8/7/2000$0.012
8/8/2000$0
8/9/2000$0
8/10/2000$0
8/11/2000$0
8/14/2000$0
8/15/2000$0
8/16/2000$0
8/17/2000$0
8/18/2000$0
8/21/2000$0
8/22/2000$0
8/23/2000$0
8/24/2000$0
8/25/2000$0
8/28/2000$0
8/29/2000$0
8/30/2000$0
8/31/2000$0
9/1/2000$0
9/5/2000$0
9/6/2000$0
9/7/2000$0
9/8/2000$0
9/11/2000$0
9/12/2000$0
9/13/2000$0
9/14/2000$0
9/15/2000$0
9/18/2000$0
9/19/2000$0
9/20/2000$0
9/21/2000$0
9/22/2000$0
9/25/2000$0
9/26/2000$0.2926
9/27/2000$0.7639
9/28/2000$0.0538
9/29/2000$0.0299
10/2/2000$0
10/3/2000$0
10/4/2000$0
10/5/2000$0
10/6/2000$0
10/9/2000$0
10/10/2000$0
10/11/2000$0
10/12/2000$0
10/13/2000$0
10/16/2000$0
10/17/2000$0
10/18/2000$0
10/19/2000$0.0963
10/20/2000$0
10/23/2000$0
10/24/2000$0.0392
10/25/2000$0
10/26/2000$0
10/27/2000$0
10/30/2000$0
10/31/2000$0
11/1/2000$0
11/2/2000$0
11/3/2000$0
11/6/2000$0
11/7/2000$0
11/8/2000$0
11/9/2000$0
11/10/2000$0
11/13/2000$0
11/14/2000$0
11/15/2000$0.001
11/16/2000$0.0488
11/17/2000$0.02
11/20/2000$0
11/21/2000$0
11/22/2000$0
11/24/2000$0.0775
11/27/2000$2.0853
11/28/2000$1.6068
11/29/2000$1.6323
11/30/2000$1.3416
12/1/2000$1.2373
12/4/2000$1.5663
12/5/2000$0.699
12/6/2000$0

* Data shown are adjusted forward for all stock splits between the IPO and 12/6/00.

** Purchases on a date not listed in the chart above have no artificial inflation.

*** Purchases in the IPO itself at $20.00 per share have no artificial inflation.