RAIT FINANCIAL TRUST

CUSIP: 749227AB0 Class: NOTE 4.000%10/0

Pinnacle Holdings, LLC's Holding History (CIK: 0001411784)

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

Q1 2018
Shares 465,000 Value ($000) $440,477 Avg Close — Range —
Q4 2017
Shares 465,000 Value ($000) $428,970 Avg Close — Range —
Q3 2017
Shares 610,000 Value ($000) $562,302 Avg Close — Range —
Q2 2017
Shares 610,000 Value ($000) $573,942 Avg Close — Range —
Q1 2017
Shares 610,000 Value ($000) $583,736 Avg Close — Range —
Q4 2016
Shares 615,000 Value ($000) $569,578 Avg Close — Range —
Q3 2016
Shares 745,000 Value ($000) $683,663 Avg Close — Range —
Q2 2016
Shares 760,000 Value ($000) $680,227 Avg Close — Range —
Q1 2016
Shares 765,000 Value ($000) $636,543 Avg Close — Range —
Q4 2015
Shares 765,000 Value ($000) $596,862 Avg Close — Range —
Q3 2015
Shares 775,000 Value ($000) $641,712 Avg Close — Range —
Q2 2015
Shares 815,000 Value ($000) $683,240 Avg Close — Range —
Q1 2015
Shares 845,000 Value ($000) $719,872 Avg Close — Range —
Q4 2014
Shares 725,000 Value ($000) $645,346 Avg Close — Range —
Q3 2014
Shares 575,000 Value ($000) $537,163 Avg Close — Range —
Q2 2014
Shares 625,000 Value ($000) $609,213 Avg Close — Range —
Q1 2014
Shares 625,000 Value ($000) $614,091 Avg Close — Range —
Q4 2013
Shares 375,000 Value ($000) $372,165 Avg Close — Range —