NMI HLDGS INC

Ticker: NMIH CUSIP: 629209305 Class: Common Stock

ARDSLEY ADVISORY PARTNERS LP's Holding History (CIK: 0000900529)

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

Q4 2014

Shares 865,000 Value ($000) $7,897 Avg Close $8.86 Range $8.11 - $9.77

Q3 2014

Shares 865,000 Value ($000) $7,482 Avg Close $9.76 Range $8.17 - $10.94

Q2 2014

Shares 865,000 Value ($000) $9,083 Avg Close $10.96 Range $9.75 - $11.82

Q1 2014

Shares 825,000 Value ($000) $9,669 Avg Close $11.87 Range $10.32 - $13.94

Q4 2013

Shares 800,000 Value ($000) $10,184 Avg Close $13.30 Range $11.48 - $15.24

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	865,000	$7,897	$8.86	$8.11 - $9.77
Q3 2014	865,000	$7,482	$9.76	$8.17 - $10.94
Q2 2014	865,000	$9,083	$10.96	$9.75 - $11.82
Q1 2014	825,000	$9,669	$11.87	$10.32 - $13.94
Q4 2013	800,000	$10,184	$13.30	$11.48 - $15.24