VALE S A

Ticker: VALE CUSIP: 91912E105 Class: SPONSORED ADS

CITY OF LONDON INVESTMENT MANAGEMENT CO LTD's Holding History (CIK: 0001034546)

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

Q2 2014

Shares 158,000 Value ($000) $2,091 Avg Close — Range —

Q1 2014

Shares 193,000 Value ($000) $2,659 Avg Close — Range —

Q4 2013

Shares 128,000 Value ($000) $1,951 Avg Close — Range —

Q3 2013

Shares 135,000 Value ($000) $2,100 Avg Close — Range —

Q2 2013

Shares 90,000 Value ($000) $1,191 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2014	158,000	$2,091	—	—
Q1 2014	193,000	$2,659	—	—
Q4 2013	128,000	$1,951	—	—
Q3 2013	135,000	$2,100	—	—
Q2 2013	90,000	$1,191	—	—