MAG SILVER CORP

CUSIP: 55903Q104 Class: COMMON STOCK-FO

Arbiter Partners Capital Management LLC's Holding History (CIK: 0001513193)

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

Q4 2014

Shares 111,300 Value ($000) $912 Avg Close — Range —

Q3 2014

Shares 111,300 Value ($000) $828 Avg Close — Range —

Q2 2014

Shares 111,300 Value ($000) $1,052 Avg Close — Range —

Q4 2013

Shares 111,300 Value ($000) $612 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	111,300	$912	—	—
Q3 2014	111,300	$828	—	—
Q2 2014	111,300	$1,052	—	—
Q4 2013	111,300	$612	—	—