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Ticker: KBH CUSIP: 48666K109 Class: COM

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

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

Q4 2015

Shares 13,880 Value ($000) $171 Avg Close $11.95 Range $10.71 - $13.40

Q2 2014

Shares 37,200 Value ($000) $695 Avg Close $14.72 Range $13.53 - $16.58

Q1 2014

Shares 1,923,191 Value ($000) $32,674 Avg Close $16.09 Range $14.39 - $18.23

Q4 2013

Shares 468,756 Value ($000) $8,570 Avg Close $15.05 Range $13.56 - $16.49

Q2 2013

Shares 556,300 Value ($000) $10,921 Avg Close $19.18 Range $15.99 - $21.96

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	13,880	$171	$11.95	$10.71 - $13.40
Q2 2014	37,200	$695	$14.72	$13.53 - $16.58
Q1 2014	1,923,191	$32,674	$16.09	$14.39 - $18.23
Q4 2013	468,756	$8,570	$15.05	$13.56 - $16.49
Q2 2013	556,300	$10,921	$19.18	$15.99 - $21.96