TOWERS WATSON & CO

CUSIP: 891894107 Class: CL A

SPHERA FUNDS MANAGEMENT LTD.'s Holding History (CIK: 0001496201)

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

Q2 2015
Shares 12,807 Value ($000) $1,611 Avg Close — Range —
Q1 2015
Shares 38,300 Value ($000) $5,063 Avg Close — Range —
Q4 2014
Shares 42,350 Value ($000) $4,793 Avg Close — Range —
Q3 2014
Shares 28,000 Value ($000) $2,786 Avg Close — Range —
Q2 2014
Shares 41,740 Value ($000) $4,351 Avg Close — Range —