VALE S A

Ticker: VALE CUSIP: 91912E105 Class: SPONSORED ADS

Alpine Global Management, LLC's Holding History (CIK: 0001581655)

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

Q2 2017

Shares 20,000 Value ($000) $175 Avg Close — Range —

Q1 2017

Shares 362,577 Value ($000) $3,444 Avg Close — Range —

Q4 2014

Shares 10,053 Value ($000) $82 Avg Close — Range —

Q2 2014

Shares 150,000 Value ($000) $1,985 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2017	20,000	$175	—	—
Q1 2017	362,577	$3,444	—	—
Q4 2014	10,053	$82	—	—
Q2 2014	150,000	$1,985	—	—