CIPHER PHARMACEUTICALS INC

Ticker: CPHRF CUSIP: 17253X105 Class: COM

DEUTSCHE BANK AG\'s Holding History (CIK: 0000948046)

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

Q3 2016

Shares 3,314 Value ($000) $12 Avg Close $4.56 Range $3.55 - $5.73

Q2 2016

Shares 600 Value ($000) $3 Avg Close $5.70 Range $4.72 - $6.37

Q1 2016

Shares 700 Value ($000) $3 Avg Close $4.39 Range $3.56 - $5.49

Q3 2015

Shares 1,200 Value ($000) $4 Avg Close $6.95 Range $3.55 - $10.25

Q2 2015

Shares 25,400 Value ($000) $217 Avg Close $9.96 Range $8.52 - $12.33

Q1 2015

Shares 38,800 Value ($000) $350 Avg Close $12.59 Range $9.07 - $15.28

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	3,314	$12	$4.56	$3.55 - $5.73
Q2 2016	600	$3	$5.70	$4.72 - $6.37
Q1 2016	700	$3	$4.39	$3.56 - $5.49
Q3 2015	1,200	$4	$6.95	$3.55 - $10.25
Q2 2015	25,400	$217	$9.96	$8.52 - $12.33
Q1 2015	38,800	$350	$12.59	$9.07 - $15.28