EMERGENT BIOSOLUTIONS INC

Ticker: EBS CUSIP: 29089Q105 Class: Common Stock

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

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

Q4 2016

Shares 284,180 Value ($000) $9,332 Avg Close $29.98 Range $24.47 - $36.64

Q3 2016

Shares 284,180 Value ($000) $8,960 Avg Close $29.06 Range $26.12 - $34.10

Q2 2016

Shares 270,990 Value ($000) $7,620 Avg Close $39.20 Range $27.01 - $44.38

Q1 2016

Shares 270,990 Value ($000) $9,851 Avg Close $35.32 Range $31.26 - $39.29

Q4 2015

Shares 375,700 Value ($000) $15,032 Avg Close $34.87 Range $27.68 - $40.49

Q3 2015

Shares 407,400 Value ($000) $11,607 Avg Close $32.95 Range $27.82 - $36.20

Q2 2015

Shares 407,400 Value ($000) $13,424 Avg Close $31.00 Range $28.33 - $33.84

Q1 2015

Shares 407,400 Value ($000) $11,716 Avg Close $28.68 Range $25.97 - $30.96

Q4 2014

Shares 407,400 Value ($000) $11,094 Avg Close $23.83 Range $19.31 - $28.08

Q3 2014

Shares 407,400 Value ($000) $8,682 Avg Close $22.90 Range $20.11 - $25.41

Q2 2014

Shares 297,200 Value ($000) $6,674 Avg Close $23.29 Range $20.04 - $27.17

Q1 2014

Shares 216,100 Value ($000) $5,461 Avg Close $25.26 Range $21.72 - $28.48

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	284,180	$9,332	$29.98	$24.47 - $36.64
Q3 2016	284,180	$8,960	$29.06	$26.12 - $34.10
Q2 2016	270,990	$7,620	$39.20	$27.01 - $44.38
Q1 2016	270,990	$9,851	$35.32	$31.26 - $39.29
Q4 2015	375,700	$15,032	$34.87	$27.68 - $40.49
Q3 2015	407,400	$11,607	$32.95	$27.82 - $36.20
Q2 2015	407,400	$13,424	$31.00	$28.33 - $33.84
Q1 2015	407,400	$11,716	$28.68	$25.97 - $30.96
Q4 2014	407,400	$11,094	$23.83	$19.31 - $28.08
Q3 2014	407,400	$8,682	$22.90	$20.11 - $25.41
Q2 2014	297,200	$6,674	$23.29	$20.04 - $27.17
Q1 2014	216,100	$5,461	$25.26	$21.72 - $28.48