RAYONIER ADVANCED MATLS INC

Ticker: RYAM CUSIP: 75508B104 Class: COM

Callahan Advisors, LLC's Holding History (CIK: 0001395055)

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

Q1 2016

Shares 10,281 Value ($000) $98 Avg Close $7.89 Range $5.88 - $9.98

Q4 2015

Shares 15,260 Value ($000) $149 Avg Close $9.32 Range $6.13 - $13.01

Q3 2015

Shares 22,460 Value ($000) $137 Avg Close $10.12 Range $5.75 - $16.35

Q2 2015

Shares 22,460 Value ($000) $365 Avg Close $16.47 Range $14.71 - $19.64

Q1 2015

Shares 34,960 Value ($000) $521 Avg Close $18.22 Range $14.43 - $24.01

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	10,281	$98	$7.89	$5.88 - $9.98
Q4 2015	15,260	$149	$9.32	$6.13 - $13.01
Q3 2015	22,460	$137	$10.12	$5.75 - $16.35
Q2 2015	22,460	$365	$16.47	$14.71 - $19.64
Q1 2015	34,960	$521	$18.22	$14.43 - $24.01