REGENERON PHARMACEUTICALS

Ticker: REGN CUSIP: 75886F107 Class: COM

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

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

Q1 2020

Shares 3,100 Value ($000) $1,514 Avg Close $410.21 Range $326.32 - $515.14

Q4 2019

Shares 3,100 Value ($000) $1,164 Avg Close $334.59 Range $270.76 - $380.14

Q3 2019

Shares 2,730 Value ($000) $757 Avg Close $294.28 Range $269.87 - $318.99

Q2 2019

Shares 2,710 Value ($000) $848 Avg Close $331.08 Range $293.64 - $413.60

Q1 2019

Shares 1,050 Value ($000) $431 Avg Close $409.51 Range $363.99 - $439.56

Q4 2018

Shares 2,080 Value ($000) $777 Avg Close $364.00 Range $325.77 - $407.74

Q2 2018

Shares 2,050 Value ($000) $707 Avg Close $311.03 Range $280.34 - $347.31

Q1 2018

Shares 1,980 Value ($000) $682 Avg Close $345.90 Range $311.80 - $394.59

Q4 2017

Shares 1,980 Value ($000) $744 Avg Close $402.77 Range $351.19 - $474.37

Q3 2017

Shares 1,980 Value ($000) $885 Avg Close $473.21 Range $424.12 - $523.22

Q2 2017

Shares 2,430 Value ($000) $1,193 Avg Close $435.19 Range $358.01 - $540.55

Q1 2017

Shares 2,430 Value ($000) $942 Avg Close $368.62 Range $338.21 - $399.00

Q4 2016

Shares 2,430 Value ($000) $892 Avg Close $378.17 Range $323.56 - $450.46

Q3 2016

Shares 2,900 Value ($000) $1,166 Avg Close $398.92 Range $346.51 - $441.54

Q2 2016

Shares 2,900 Value ($000) $1,013 Avg Close $383.00 Range $327.27 - $431.54

Q1 2016

Shares 2,390 Value ($000) $861 Avg Close $409.79 Range $347.04 - $529.97

Q4 2015

Shares 2,330 Value ($000) $1,265 Avg Close $538.82 Range $445.63 - $589.32

Q3 2015

Shares 2,310 Value ($000) $1,074 Avg Close $534.07 Range $433.12 - $602.59

Q2 2015

Shares 2,200 Value ($000) $1,122 Avg Close $485.93 Range $431.08 - $541.00

Q1 2015

Shares 2,200 Value ($000) $993 Avg Close $421.46 Range $390.83 - $492.77

Q4 2014

Shares 2,800 Value ($000) $1,149 Avg Close $391.09 Range $318.29 - $435.23

Q3 2014

Shares 2,800 Value ($000) $1,009 Avg Close $333.32 Range $283.49 - $367.27

Q2 2014

Shares 2,700 Value ($000) $763 Avg Close $294.74 Range $268.01 - $318.24

Q1 2014

Shares 2,700 Value ($000) $811 Avg Close $306.39 Range $261.52 - $350.55

Q4 2013

Shares 2,600 Value ($000) $716 Avg Close $286.03 Range $256.27 - $317.74

Q3 2013

Shares 2,600 Value ($000) $813 Avg Close $261.58 Range $224.53 - $318.07

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	3,100	$1,514	$410.21	$326.32 - $515.14
Q4 2019	3,100	$1,164	$334.59	$270.76 - $380.14
Q3 2019	2,730	$757	$294.28	$269.87 - $318.99
Q2 2019	2,710	$848	$331.08	$293.64 - $413.60
Q1 2019	1,050	$431	$409.51	$363.99 - $439.56
Q4 2018	2,080	$777	$364.00	$325.77 - $407.74
Q2 2018	2,050	$707	$311.03	$280.34 - $347.31
Q1 2018	1,980	$682	$345.90	$311.80 - $394.59
Q4 2017	1,980	$744	$402.77	$351.19 - $474.37
Q3 2017	1,980	$885	$473.21	$424.12 - $523.22
Q2 2017	2,430	$1,193	$435.19	$358.01 - $540.55
Q1 2017	2,430	$942	$368.62	$338.21 - $399.00
Q4 2016	2,430	$892	$378.17	$323.56 - $450.46
Q3 2016	2,900	$1,166	$398.92	$346.51 - $441.54
Q2 2016	2,900	$1,013	$383.00	$327.27 - $431.54
Q1 2016	2,390	$861	$409.79	$347.04 - $529.97
Q4 2015	2,330	$1,265	$538.82	$445.63 - $589.32
Q3 2015	2,310	$1,074	$534.07	$433.12 - $602.59
Q2 2015	2,200	$1,122	$485.93	$431.08 - $541.00
Q1 2015	2,200	$993	$421.46	$390.83 - $492.77
Q4 2014	2,800	$1,149	$391.09	$318.29 - $435.23
Q3 2014	2,800	$1,009	$333.32	$283.49 - $367.27
Q2 2014	2,700	$763	$294.74	$268.01 - $318.24
Q1 2014	2,700	$811	$306.39	$261.52 - $350.55
Q4 2013	2,600	$716	$286.03	$256.27 - $317.74
Q3 2013	2,600	$813	$261.58	$224.53 - $318.07