TIME WARNER INC

CUSIP: 887317303 Class: COM NEW

Focused Investors LLC's Holding History (CIK: 0001426398)

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

Q3 2017

Shares 761,400 Value ($000) $78,005 Avg Close — Range —

Q2 2017

Shares 783,700 Value ($000) $78,691 Avg Close — Range —

Q1 2017

Shares 969,700 Value ($000) $94,749 Avg Close — Range —

Q4 2016

Shares 976,600 Value ($000) $94,271 Avg Close — Range —

Q3 2016

Shares 997,900 Value ($000) $79,443 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2017	761,400	$78,005	—	—
Q2 2017	783,700	$78,691	—	—
Q1 2017	969,700	$94,749	—	—
Q4 2016	976,600	$94,271	—	—
Q3 2016	997,900	$79,443	—	—