GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

Apollo Management Holdings, L.P.'s Holding History (CIK: 0001449434)

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

Q2 2017

Shares 100,000 Value ($000) $1,370 Avg Close $13.50 Range $11.70 - $15.45

Q1 2017

Shares 100,000 Value ($000) $1,450 Avg Close $12.66 Range $9.95 - $15.10

Q2 2014

Shares 125,000 Value ($000) $1,641 Avg Close $11.23 Range $9.02 - $13.44

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2017	100,000	$1,370	$13.50	$11.70 - $15.45
Q1 2017	100,000	$1,450	$12.66	$9.95 - $15.10
Q2 2014	125,000	$1,641	$11.23	$9.02 - $13.44