INTERNATIONAL PAPER CO

Ticker: IP CUSIP: 460146103 Class: COM

Holowesko Partners Ltd.'s Holding History (CIK: 0001428569)

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

Q4 2016

Shares 7,700 Value ($000) $409 Avg Close $31.25 Range $27.71 - $35.15

Q3 2016

Shares 35,800 Value ($000) $1,718 Avg Close $29.51 Range $25.89 - $31.75

Q2 2016

Shares 1,565,500 Value ($000) $66,346 Avg Close $26.29 Range $24.54 - $27.85

Q1 2016

Shares 2,300,500 Value ($000) $94,413 Avg Close $22.81 Range $20.01 - $26.25

Q4 2015

Shares 2,064,800 Value ($000) $77,843 Avg Close $24.89 Range $22.64 - $27.32

Q3 2015

Shares 1,964,800 Value ($000) $74,250 Avg Close $27.15 Range $22.61 - $29.90

Q2 2015

Shares 1,541,800 Value ($000) $73,374 Avg Close $31.50 Range $28.63 - $33.87

Q1 2015

Shares 675,800 Value ($000) $37,500 Avg Close $32.75 Range $30.57 - $34.72

Q4 2014

Shares 675,800 Value ($000) $36,209 Avg Close $30.67 Range $26.30 - $33.18

Q3 2014

Shares 1,319,000 Value ($000) $62,969 Avg Close $28.63 Range $27.61 - $30.49

Q2 2014

Shares 1,060,000 Value ($000) $53,498 Avg Close $27.05 Range $25.40 - $29.30

Q1 2014

Shares 1,060,000 Value ($000) $48,633 Avg Close $27.24 Range $25.46 - $28.54

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2016	7,700	$409	$31.25	$27.71 - $35.15
Q3 2016	35,800	$1,718	$29.51	$25.89 - $31.75
Q2 2016	1,565,500	$66,346	$26.29	$24.54 - $27.85
Q1 2016	2,300,500	$94,413	$22.81	$20.01 - $26.25
Q4 2015	2,064,800	$77,843	$24.89	$22.64 - $27.32
Q3 2015	1,964,800	$74,250	$27.15	$22.61 - $29.90
Q2 2015	1,541,800	$73,374	$31.50	$28.63 - $33.87
Q1 2015	675,800	$37,500	$32.75	$30.57 - $34.72
Q4 2014	675,800	$36,209	$30.67	$26.30 - $33.18
Q3 2014	1,319,000	$62,969	$28.63	$27.61 - $30.49
Q2 2014	1,060,000	$53,498	$27.05	$25.40 - $29.30
Q1 2014	1,060,000	$48,633	$27.24	$25.46 - $28.54