TIME WARNER INC

CUSIP: 887317303 Class: COM NEW

STATE OF MICHIGAN RETIREMENT SYSTEM's Holding History (CIK: 0000762152)

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

Q1 2018
Shares 416,427 Value ($000) $39,386 Avg Close — Range —
Q4 2017
Shares 415,027 Value ($000) $37,963 Avg Close — Range —
Q3 2017
Shares 422,827 Value ($000) $43,319 Avg Close — Range —
Q2 2017
Shares 534,527 Value ($000) $53,672 Avg Close — Range —
Q1 2017
Shares 533,927 Value ($000) $52,170 Avg Close — Range —
Q4 2016
Shares 531,827 Value ($000) $51,337 Avg Close — Range —
Q3 2016
Shares 604,803 Value ($000) $48,148 Avg Close — Range —
Q2 2016
Shares 273,203 Value ($000) $20,091 Avg Close — Range —
Q1 2016
Shares 272,103 Value ($000) $19,741 Avg Close — Range —
Q4 2015
Shares 273,403 Value ($000) $17,681 Avg Close — Range —
Q3 2015
Shares 294,703 Value ($000) $20,261 Avg Close — Range —
Q2 2015
Shares 319,803 Value ($000) $27,954 Avg Close — Range —
Q1 2015
Shares 320,403 Value ($000) $27,055 Avg Close — Range —
Q4 2014
Shares 345,403 Value ($000) $29,504 Avg Close — Range —
Q3 2014
Shares 489,903 Value ($000) $36,846 Avg Close — Range —
Q2 2014
Shares 639,003 Value ($000) $44,890 Avg Close — Range —
Q1 2014
Shares 536,803 Value ($000) $35,069 Avg Close — Range —
Q4 2013
Shares 540,303 Value ($000) $37,670 Avg Close — Range —
Q3 2013
Shares 501,103 Value ($000) $32,978 Avg Close — Range —
Q2 2013
Shares 482,903 Value ($000) $27,921 Avg Close — Range —