TOWERS WATSON & CO

CUSIP: 891894107 Class: CL A

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

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

Q4 2015
Shares 27,500 Value ($000) $3,533 Avg Close — Range —
Q3 2015
Shares 31,600 Value ($000) $3,709 Avg Close — Range —
Q2 2015
Shares 31,600 Value ($000) $3,975 Avg Close — Range —
Q1 2015
Shares 31,500 Value ($000) $4,164 Avg Close — Range —
Q4 2014
Shares 33,300 Value ($000) $3,769 Avg Close — Range —
Q3 2014
Shares 33,300 Value ($000) $3,313 Avg Close — Range —
Q2 2014
Shares 30,200 Value ($000) $3,148 Avg Close — Range —
Q1 2014
Shares 30,200 Value ($000) $3,444 Avg Close — Range —
Q4 2013
Shares 30,200 Value ($000) $3,854 Avg Close — Range —
Q3 2013
Shares 30,000 Value ($000) $3,209 Avg Close — Range —
Q2 2013
Shares 26,000 Value ($000) $2,130 Avg Close — Range —