RAYONIER ADVANCED MATLS INC

Ticker: RYAM CUSIP: 75508B104 Class: COM

BLACKHILL CAPITAL INC's Holding History (CIK: 0000872162)

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

Q4 2014

Shares 2,750 Value ($000) $61 Avg Close $26.45 Range $21.37 - $33.50

Q3 2014

Shares 2,750 Value ($000) $91 Avg Close $35.09 Range $28.65 - $44.18

Q2 2014

Shares 2,750 Value ($000) $107 Avg Close $38.47 Range $35.50 - $41.25

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	2,750	$61	$26.45	$21.37 - $33.50
Q3 2014	2,750	$91	$35.09	$28.65 - $44.18
Q2 2014	2,750	$107	$38.47	$35.50 - $41.25