TIM HORTONS INC

CUSIP: B4R2V25 Class: Common Stock

State of Tennessee, Department of Treasury's Holding History (CIK: 0001587973)

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

Q3 2014
Shares 190,652 Value ($000) $15,045 Avg Close — Range —
Q2 2014
Shares 195,941 Value ($000) $10,737 Avg Close — Range —
Q1 2014
Shares 225,482 Value ($000) $12,491 Avg Close — Range —
Q4 2013
Shares 225,482 Value ($000) $13,155 Avg Close — Range —
Q3 2013
Shares 227,659 Value ($000) $13,231 Avg Close — Range —