RAIT FINANCIAL TRUST

CUSIP: 749227AA2 Class: NOTE 7.000% 4/0

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

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

Q1 2016
Shares 23,669,000 Value ($000) $23,669 Avg Close — Range —
Q4 2015
Shares 23,669,000 Value ($000) $22,591 Avg Close — Range —
Q3 2015
Shares 23,594,000 Value ($000) $23,918 Avg Close — Range —
Q2 2015
Shares 23,594,000 Value ($000) $25,506 Avg Close — Range —
Q1 2015
Shares 23,594,000 Value ($000) $27,929 Avg Close — Range —
Q4 2014
Shares 23,594,000 Value ($000) $30,118 Avg Close — Range —
Q3 2014
Shares 21,852,000 Value ($000) $27,534 Avg Close — Range —
Q2 2014
Shares 21,852,000 Value ($000) $29,461 Avg Close — Range —
Q1 2014
Shares 21,852,000 Value ($000) $30,212 Avg Close — Range —
Q4 2013
Shares 20,352,000 Value ($000) $28,798 Avg Close — Range —
Q3 2013
Shares 17,726,000 Value ($000) $21,118 Avg Close — Range —
Q2 2013
Shares 13,184,000 Value ($000) $16,416 Avg Close — Range —