ARMOUR RESIDENTIAL REIT INC

CUSIP: 042315507 Class: Common Stock

Arbiter Partners Capital Management LLC's Holding History (CIK: 0001513193)

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

Q4 2015
Shares 12,400 Value ($000) $270 Avg Close — Range —
Q3 2015
Shares 12,400 Value ($000) $248 Avg Close — Range —