PANDORA MEDIA INC

CUSIP: 698354AB3 Class: NOTE 1.750%12/0

WATER ISLAND CAPITAL LLC's Holding History (CIK: 0001222765)

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

Q3 2017
Shares 2,000,000 Value ($000) $1,868 Avg Close — Range —
Q2 2017
Shares 2,000,000 Value ($000) $1,895 Avg Close — Range —
Q1 2017
Shares 2,000,000 Value ($000) $2,005 Avg Close — Range —
Q4 2016
Shares 1,500,000 Value ($000) $1,538 Avg Close — Range —