CLIFFS NAT RES INC

CUSIP: 18683K101 Class: COMMON STOCK

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

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

Q1 2015
Shares 46,400 Value ($000) $223 Avg Close — Range —
Q4 2014
Shares 49,720 Value ($000) $355 Avg Close — Range —
Q3 2014
Shares 43,400 Value ($000) $450 Avg Close — Range —
Q2 2014
Shares 47,800 Value ($000) $719 Avg Close — Range —
Q1 2014
Shares 5,200 Value ($000) $106 Avg Close — Range —
Q4 2013
Shares 5,000 Value ($000) $131 Avg Close — Range —
Q3 2013
Shares 5,000 Value ($000) $103 Avg Close — Range —