VALERO ENERGY CORP

Ticker: VLO CUSIP: 91913Y100 Class: COM

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

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

Q3 2016

Shares 345,554 Value ($000) $18,315 Avg Close $36.73 Range $32.07 - $40.18

Q2 2016

Shares 340,162 Value ($000) $17,348 Avg Close $38.47 Range $34.15 - $43.36

Q1 2016

Shares 335,930 Value ($000) $21,548 Avg Close $42.88 Range $35.57 - $48.59

Q4 2015

Shares 287,563 Value ($000) $20,333 Avg Close $45.50 Range $39.25 - $49.52

Q3 2015

Shares 306,949 Value ($000) $18,448 Avg Close $42.17 Range $34.39 - $47.58

Q2 2015

Shares 318,407 Value ($000) $19,932 Avg Close $38.94 Range $36.85 - $42.23

Q1 2015

Shares 240,498 Value ($000) $15,299 Avg Close $36.56 Range $28.33 - $42.36

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	345,554	$18,315	$36.73	$32.07 - $40.18
Q2 2016	340,162	$17,348	$38.47	$34.15 - $43.36
Q1 2016	335,930	$21,548	$42.88	$35.57 - $48.59
Q4 2015	287,563	$20,333	$45.50	$39.25 - $49.52
Q3 2015	306,949	$18,448	$42.17	$34.39 - $47.58
Q2 2015	318,407	$19,932	$38.94	$36.85 - $42.23
Q1 2015	240,498	$15,299	$36.56	$28.33 - $42.36