CELSION CORPORATION

CUSIP: 15117N305 Class: CMN

Hudson Bay Capital Management LP's Holding History (CIK: 0001393825)

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

Q3 2013
Shares 12,400 Value ($000) $14 Avg Close — Range —
Q2 2013
Shares 10,600 Value ($000) $11 Avg Close — Range —