PHILIP MORRIS INTL INC

Ticker: PM CUSIP: 718172109 Class: Common Stock

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

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

Q1 2015

Shares 27,109 Value ($000) $2,043 Avg Close $47.07 Range $44.17 - $49.41

Q4 2014

Shares 51,055 Value ($000) $4,159 Avg Close $49.22 Range $46.45 - $51.65

Q3 2014

Shares 11,225 Value ($000) $936 Avg Close $47.89 Range $45.93 - $49.13

Q4 2013

Shares 69,479 Value ($000) $6,054 Avg Close $47.83 Range $45.86 - $50.23

Q3 2013

Shares 29,545 Value ($000) $2,558 Avg Close $47.38 Range $44.86 - $49.49

Q2 2013

Shares 60,722 Value ($000) $5,260 Avg Close $49.85 Range $46.13 - $51.86

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	27,109	$2,043	$47.07	$44.17 - $49.41
Q4 2014	51,055	$4,159	$49.22	$46.45 - $51.65
Q3 2014	11,225	$936	$47.89	$45.93 - $49.13
Q4 2013	69,479	$6,054	$47.83	$45.86 - $50.23
Q3 2013	29,545	$2,558	$47.38	$44.86 - $49.49
Q2 2013	60,722	$5,260	$49.85	$46.13 - $51.86