VALE S A

Ticker: VALE CUSIP: 91912E105 Class: SPONSORED ADS

BALDWIN BROTHERS LLC/MA's Holding History (CIK: 0001021258)

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

Q3 2016

Shares 200 Value ($000) $1 Avg Close — Range —

Q2 2016

Shares 200 Value ($000) $1 Avg Close — Range —

Q1 2016

Shares 200 Value ($000) $1 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	200	$1	—	—
Q2 2016	200	$1	—	—
Q1 2016	200	$1	—	—