MERCER INTL INC

Ticker: MERC CUSIP: 588056101 Class: COM

1832 Asset Management L.P.'s Holding History (CIK: 0000944388)

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

Q3 2014

Shares 482,650 Value ($000) $4,710 Avg Close $6.97 Range $6.15 - $7.74

Q2 2014

Shares 1,588,251 Value ($000) $16,688 Avg Close $5.91 Range $4.80 - $7.15

Q1 2014

Shares 1,100,000 Value ($000) $8,303 Avg Close $6.19 Range $4.78 - $6.75

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	482,650	$4,710	$6.97	$6.15 - $7.74
Q2 2014	1,588,251	$16,688	$5.91	$4.80 - $7.15
Q1 2014	1,100,000	$8,303	$6.19	$4.78 - $6.75