UNITED AIRLS HLDGS INC

Ticker: UAL CUSIP: 910047109 Class: COM

WATER ISLAND CAPITAL LLC's Holding History (CIK: 0001222765)

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

Q2 2016

Shares 1,750 Value ($000) $72 Avg Close $47.32 Range $37.41 - $58.90

Q1 2016

Shares 750 Value ($000) $45 Avg Close $53.10 Range $42.17 - $61.41

Q4 2015

Shares 875 Value ($000) $50 Avg Close $57.74 Range $49.76 - $61.87

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	1,750	$72	$47.32	$37.41 - $58.90
Q1 2016	750	$45	$53.10	$42.17 - $61.41
Q4 2015	875	$50	$57.74	$49.76 - $61.87