ADVANCED EMISSIONS SOLUTS IN

Ticker: ARQ CUSIP: 00770C101 Class: COM

GAM Holding AG's Holding History (CIK: 0001438848)

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

Q3 2014

Shares 37,200 Value ($000) $791 Avg Close $16.46 Range $14.59 - $18.49

Q2 2014

Shares 37,200 Value ($000) $853 Avg Close $16.83 Range $13.29 - $19.84

Q1 2014

Shares 42,200 Value ($000) $1,036 Avg Close $19.55 Range $16.66 - $21.56

Q3 2013

Shares 18,100 Value ($000) $773 Avg Close $15.59 Range $12.31 - $16.89

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	37,200	$791	$16.46	$14.59 - $18.49
Q2 2014	37,200	$853	$16.83	$13.29 - $19.84
Q1 2014	42,200	$1,036	$19.55	$16.66 - $21.56
Q3 2013	18,100	$773	$15.59	$12.31 - $16.89