INTERNATIONAL PAPER CO

Ticker: IP CUSIP: 460146103 Class: COM

COBALT CAPITAL MANAGEMENT, INC.'s Holding History (CIK: 0001086762)

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

Q4 2015

Shares 60,000 Value ($000) $2,262 Avg Close $24.89 Range $22.64 - $27.32

Q3 2014

Shares 487,758 Value ($000) $23,286 Avg Close $28.63 Range $27.61 - $30.49

Q2 2014

Shares 608,700 Value ($000) $30,721 Avg Close $27.05 Range $25.40 - $29.30

Q1 2014

Shares 200,000 Value ($000) $9,176 Avg Close $27.24 Range $25.46 - $28.54

Q4 2013

Shares 89,000 Value ($000) $4,364 Avg Close $26.03 Range $24.27 - $28.23

Q2 2013

Shares 100,000 Value ($000) $4,431 Avg Close $25.91 Range $23.81 - $27.42

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	60,000	$2,262	$24.89	$22.64 - $27.32
Q3 2014	487,758	$23,286	$28.63	$27.61 - $30.49
Q2 2014	608,700	$30,721	$27.05	$25.40 - $29.30
Q1 2014	200,000	$9,176	$27.24	$25.46 - $28.54
Q4 2013	89,000	$4,364	$26.03	$24.27 - $28.23
Q2 2013	100,000	$4,431	$25.91	$23.81 - $27.42