TAL EDUCATION GROUP

Ticker: TAL CUSIP: 874080104 Class: Foreign Stock

DISCOVERY CAPITAL MANAGEMENT, LLC / CT's Holding History (CIK: 0001389507)

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

Q1 2016

Shares 816,455 Value ($000) $40,561 Avg Close — Range —

Q4 2015

Shares 676,955 Value ($000) $31,458 Avg Close — Range —

Q3 2015

Shares 317,000 Value ($000) $10,192 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	816,455	$40,561	—	—
Q4 2015	676,955	$31,458	—	—
Q3 2015	317,000	$10,192	—	—