ISHARES TR

Ticker: IWM CUSIP: 464287655 Class: RUSSELL 2000 ETF

SPHERA FUNDS MANAGEMENT LTD.'s Holding History (CIK: 0001496201)

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

Q1 2015

Shares 56,100 Value ($000) $6,977 Avg Close — Range —

Q4 2014

Shares 54,300 Value ($000) $6,495 Avg Close — Range —

Q4 2013

Shares 67,209 Value ($000) $7,750 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	56,100	$6,977	—	—
Q4 2014	54,300	$6,495	—	—
Q4 2013	67,209	$7,750	—	—