Q2 HLDGS INC

Ticker: QTWO CUSIP: 74736L109 Class: EQTY

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

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

Q3 2014

Shares 145,812 Value ($000) $2,041 Avg Close $14.60 Range $12.44 - $16.89

Q2 2014

Shares 161,832 Value ($000) $2,307 Avg Close $13.56 Range $9.62 - $16.96

Q1 2014

Shares 85,000 Value ($000) $1,320 Avg Close $15.37 Range $14.41 - $17.38

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	145,812	$2,041	$14.60	$12.44 - $16.89
Q2 2014	161,832	$2,307	$13.56	$9.62 - $16.96
Q1 2014	85,000	$1,320	$15.37	$14.41 - $17.38