ADVANCED EMISSIONS SOLUTS IN

Ticker: ARQ CUSIP: 00770C101 Class: COM

DENALI ADVISORS LLC's Holding History (CIK: 0001142941)

Note: Option positions (PUT/CALL) are excluded.

Q1 2021

Shares 5,350 Value ($000) $29 Avg Close $5.60 Range $4.63 - $6.64

Q4 2020

Shares 5,350 Value ($000) $29 Avg Close $5.09 Range $4.06 - $6.37

Q3 2020

Shares 5,570 Value ($000) $23 Avg Close $4.27 Range $3.52 - $5.10

Q2 2020

Shares 8,170 Value ($000) $40 Avg Close $5.76 Range $4.44 - $8.00

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2021	5,350	$29	$5.60	$4.63 - $6.64
Q4 2020	5,350	$29	$5.09	$4.06 - $6.37
Q3 2020	5,570	$23	$4.27	$3.52 - $5.10
Q2 2020	8,170	$40	$5.76	$4.44 - $8.00