MOVADO GROUP INC

Ticker: MOV CUSIP: 624580106 Class: COM

PICTON MAHONEY ASSET MANAGEMENT's Holding History (CIK: 0001539041)

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

Q4 2014

Shares 700 Value ($000) $20 Avg Close $31.09 Range $25.10 - $39.44

Q3 2014

Shares 16,800 Value ($000) $555 Avg Close $39.17 Range $33.06 - $44.93

Q2 2014

Shares 18,300 Value ($000) $763 Avg Close $40.35 Range $35.07 - $46.23

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	700	$20	$31.09	$25.10 - $39.44
Q3 2014	16,800	$555	$39.17	$33.06 - $44.93
Q2 2014	18,300	$763	$40.35	$35.07 - $46.23