VALIDUS HOLDINGS LTD

CUSIP: G9319H102 Class: COM

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

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

Q4 2017
Shares 2,998,643 Value ($000) $140,696 Avg Close — Range —
Q3 2017
Shares 3,798,643 Value ($000) $186,931 Avg Close — Range —
Q2 2017
Shares 3,408,643 Value ($000) $177,147 Avg Close — Range —
Q1 2017
Shares 3,408,643 Value ($000) $192,213 Avg Close — Range —
Q4 2016
Shares 3,408,643 Value ($000) $187,509 Avg Close — Range —
Q3 2016
Shares 3,408,643 Value ($000) $169,819 Avg Close — Range —
Q2 2016
Shares 3,408,643 Value ($000) $165,626 Avg Close — Range —
Q1 2016
Shares 3,393,900 Value ($000) $160,158 Avg Close — Range —
Q4 2015
Shares 3,423,100 Value ($000) $158,455 Avg Close — Range —
Q3 2015
Shares 3,813,100 Value ($000) $171,856 Avg Close — Range —
Q2 2015
Shares 3,953,100 Value ($000) $173,897 Avg Close — Range —
Q1 2015
Shares 3,953,100 Value ($000) $166,426 Avg Close — Range —
Q4 2014
Shares 3,550,000 Value ($000) $147,538 Avg Close — Range —