NAVIGATOR HOLDINGS LTD

Ticker: NVGS CUSIP: Y62132108 Class: SHS

PICTON MAHONEY ASSET MANAGEMENT's Holding History (CIK: 0001539041)

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

Q3 2015

Shares 95,500 Value ($000) $1,275 Avg Close $16.02 Range $12.55 - $19.07

Q2 2015

Shares 71,600 Value ($000) $1,357 Avg Close $19.70 Range $17.60 - $21.58

Q1 2015

Shares 78,600 Value ($000) $1,501 Avg Close $17.45 Range $15.43 - $20.50

Q4 2014

Shares 60,200 Value ($000) $1,268 Avg Close $21.21 Range $14.51 - $26.79

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2015	95,500	$1,275	$16.02	$12.55 - $19.07
Q2 2015	71,600	$1,357	$19.70	$17.60 - $21.58
Q1 2015	78,600	$1,501	$17.45	$15.43 - $20.50
Q4 2014	60,200	$1,268	$21.21	$14.51 - $26.79