Explanation of Responses:
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Sales effected pursuant to Rule 10b5-1 trading plan adopted by the Bradley A. Cleveland Declaration Trust (the "Trust") on August 30, 2013.
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Reflects the weighted average price of 19,811 shares of common stock of Proto Labs, Inc. sold by the Trust in multiple transactions on November 6, 2013 with sale prices ranging from $83.58 to $84.45 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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Reflects the weighted average price of 12,577 shares of common stock of Proto Labs, Inc. sold by the Trust in multiple transactions on November 6, 2013 with sale prices ranging from $84.79 to $85.78 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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Reflects the weighted average price of 14,450 shares of common stock of Proto Labs, Inc. sold by the Trust in multiple transactions on November 6, 2013 with sale prices ranging from $85.785 to $86.19 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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Reflects the weighted average price of 1,831 shares of common stock of Proto Labs, Inc. sold by the Trust in multiple transactions on November 6, 2013 with sale prices ranging from $86.98 to $87.68 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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Reflects the weighted average price of 38,040 shares of common stock of Proto Labs, Inc. sold by the Trust in multiple transactions on November 7, 2013 with sale prices ranging from $78.64 to $79.53 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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Reflects the weighted average price of 25,141 shares of common stock of Proto Labs, Inc. sold by the Trust in multiple transactions on November 7, 2013 with sale prices ranging from $79.76 to $80.74 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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Reflects the weighted average price of 10,857 shares of common stock of Proto Labs, Inc. sold by the Trust in multiple transactions on November 7, 2013 with sale prices ranging from $80.77 to $81.66 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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Reflects the weighted average price of 5,898 shares of common stock of Proto Labs, Inc. sold by the Trust in multiple transactions on November 7, 2013 with sale prices ranging from $81.81 to $82.60 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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10)
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Reflects the weighted average price of 3,056 shares of common stock of Proto Labs, Inc. sold by the Trust in multiple transactions on November 7, 2013 with sale prices ranging from $83.21 to $83.81 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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11)
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Reflects the weighted average price of 2,903 shares of common stock of Proto Labs, Inc. sold by the Trust in multiple transactions on November 7, 2013 with sale prices ranging from $84.37 to $85.125 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
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