WHITE MTNS INS GROUP LTD

Ticker: WTM CUSIP: G9618E107 Class: COM

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

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

Q4 2015

Shares 2,226 Value ($000) $1,618 Avg Close $765.83 Range $721.00 - $808.00

Q3 2015

Shares 2,226 Value ($000) $1,663 Avg Close $719.51 Range $645.00 - $778.19

Q2 2015

Shares 2,505 Value ($000) $1,640 Avg Close $663.32 Range $635.00 - $704.50

Q1 2015

Shares 3,291 Value ($000) $2,252 Avg Close $659.70 Range $618.00 - $696.48

Q4 2014

Shares 3,291 Value ($000) $2,073 Avg Close $635.98 Range $610.00 - $682.87

Q3 2014

Shares 2,900 Value ($000) $1,827 Avg Close $624.10 Range $599.35 - $645.00

Q2 2014

Shares 3,100 Value ($000) $1,886 Avg Close $595.51 Range $583.51 - $608.63

Q1 2014

Shares 400 Value ($000) $240 Avg Close $583.55 Range $557.26 - $603.88

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	2,226	$1,618	$765.83	$721.00 - $808.00
Q3 2015	2,226	$1,663	$719.51	$645.00 - $778.19
Q2 2015	2,505	$1,640	$663.32	$635.00 - $704.50
Q1 2015	3,291	$2,252	$659.70	$618.00 - $696.48
Q4 2014	3,291	$2,073	$635.98	$610.00 - $682.87
Q3 2014	2,900	$1,827	$624.10	$599.35 - $645.00
Q2 2014	3,100	$1,886	$595.51	$583.51 - $608.63
Q1 2014	400	$240	$583.55	$557.26 - $603.88