TEJON RANCH CO

Ticker: TRC CUSIP: 879080109 Class: Common Stock

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

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

Q3 2019

Shares 32,410 Value ($000) $550 Avg Close $17.43 Range $16.09 - $18.89

Q2 2019

Shares 32,410 Value ($000) $538 Avg Close $17.06 Range $16.05 - $18.86

Q1 2019

Shares 18,130 Value ($000) $319 Avg Close $18.42 Range $16.17 - $19.66

Q4 2018

Shares 18,130 Value ($000) $301 Avg Close $18.58 Range $16.04 - $21.82

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2019	32,410	$550	$17.43	$16.09 - $18.89
Q2 2019	32,410	$538	$17.06	$16.05 - $18.86
Q1 2019	18,130	$319	$18.42	$16.17 - $19.66
Q4 2018	18,130	$301	$18.58	$16.04 - $21.82