PENN NATL GAMING INC

Ticker: PENN CUSIP: 707569109 Class: Common Stock

PALISADE CAPITAL MANAGEMENT, LP's Holding History (CIK: 0001009006)

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

Q3 2013

Shares 101,176 Value ($000) $5,601 Avg Close $12.05 Range $11.01 - $12.99

Q2 2013

Shares 126,526 Value ($000) $6,696 Avg Close $12.65 Range $11.23 - $13.55

Q1 2013

Shares 123,605 Value ($000) $6,728 Avg Close $11.53 Range $10.61 - $12.33

Q4 2012

Shares 141,429 Value ($000) $6,946 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2013	101,176	$5,601	$12.05	$11.01 - $12.99
Q2 2013	126,526	$6,696	$12.65	$11.23 - $13.55
Q1 2013	123,605	$6,728	$11.53	$10.61 - $12.33
Q4 2012	141,429	$6,946	—	—