MERCER INTL INC

Ticker: MERC CUSIP: 588056101 Class: COM

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

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

Q1 2020

Shares 12,250 Value ($000) $89 Avg Close $8.24 Range $5.30 - $11.03

Q4 2019

Shares 12,250 Value ($000) $151 Avg Close $9.93 Range $8.58 - $10.72

Q3 2019

Shares 12,010 Value ($000) $151 Avg Close $10.15 Range $8.50 - $12.72

Q2 2019

Shares 27,280 Value ($000) $422 Avg Close $11.98 Range $10.81 - $14.12

Q1 2019

Shares 12,610 Value ($000) $170 Avg Close $10.85 Range $7.98 - $12.45

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	12,250	$89	$8.24	$5.30 - $11.03
Q4 2019	12,250	$151	$9.93	$8.58 - $10.72
Q3 2019	12,010	$151	$10.15	$8.50 - $12.72
Q2 2019	27,280	$422	$11.98	$10.81 - $14.12
Q1 2019	12,610	$170	$10.85	$7.98 - $12.45