GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

CAISSE DE DEPOT ET PLACEMENT DU QUEBEC's Holding History (CIK: 0000898286)

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

Q2 2016

Shares 282,000 Value ($000) $3,060 Avg Close $11.80 Range $10.43 - $14.77

Q1 2016

Shares 232,000 Value ($000) $2,719 Avg Close $12.31 Range $9.95 - $16.26

Q4 2015

Shares 230,000 Value ($000) $3,749 Avg Close $15.66 Range $12.46 - $17.70

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	282,000	$3,060	$11.80	$10.43 - $14.77
Q1 2016	232,000	$2,719	$12.31	$9.95 - $16.26
Q4 2015	230,000	$3,749	$15.66	$12.46 - $17.70