TAL EDUCATION GROUP

Ticker: TAL CUSIP: 874080104 Class: Foreign Stock

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

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

Q4 2014
Shares 218,459 Value ($000) $6,136 Avg Close — Range —
Q3 2014
Shares 215,500 Value ($000) $7,530 Avg Close — Range —
Q2 2014
Shares 231,800 Value ($000) $6,375 Avg Close — Range —
Q1 2014
Shares 225,450 Value ($000) $5,077 Avg Close — Range —
Q4 2013
Shares 12,000 Value ($000) $264 Avg Close — Range —
Q3 2013
Shares 24,000 Value ($000) $348 Avg Close — Range —
Q2 2013
Shares 55,200 Value ($000) $578 Avg Close — Range —