SEABRIDGE GOLD INC

Ticker: SA CUSIP: 811916105 Class: Stock-Materials

Arbiter Partners Capital Management LLC's Holding History (CIK: 0001513193)

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

Q2 2019

Shares 12,385 Value ($000) $168 Avg Close $11.86 Range $10.95 - $14.43

Q1 2019

Shares 12,385 Value ($000) $153 Avg Close $13.63 Range $12.27 - $15.24

Q4 2018

Shares 183,008 Value ($000) $2,421 Avg Close $12.64 Range $11.22 - $15.30

Q3 2018

Shares 894,468 Value ($000) $11,583 Avg Close $11.53 Range $10.40 - $13.80

Q2 2018

Shares 922,768 Value ($000) $10,289 Avg Close $10.79 Range $10.20 - $11.75

Q1 2018

Shares 792,168 Value ($000) $8,555 Avg Close $11.08 Range $10.30 - $12.25

Q4 2017

Shares 792,168 Value ($000) $8,951 Avg Close $11.85 Range $9.80 - $13.70

Q3 2017

Shares 1,143,445 Value ($000) $13,950 Avg Close $11.58 Range $10.35 - $12.75

Q2 2017

Shares 1,143,445 Value ($000) $12,349 Avg Close $10.63 Range $9.50 - $12.25

Q1 2017

Shares 586,222 Value ($000) $6,448 Avg Close $10.40 Range $8.15 - $12.85

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2019	12,385	$168	$11.86	$10.95 - $14.43
Q1 2019	12,385	$153	$13.63	$12.27 - $15.24
Q4 2018	183,008	$2,421	$12.64	$11.22 - $15.30
Q3 2018	894,468	$11,583	$11.53	$10.40 - $13.80
Q2 2018	922,768	$10,289	$10.79	$10.20 - $11.75
Q1 2018	792,168	$8,555	$11.08	$10.30 - $12.25
Q4 2017	792,168	$8,951	$11.85	$9.80 - $13.70
Q3 2017	1,143,445	$13,950	$11.58	$10.35 - $12.75
Q2 2017	1,143,445	$12,349	$10.63	$9.50 - $12.25
Q1 2017	586,222	$6,448	$10.40	$8.15 - $12.85