VALE S A

Ticker: VALE CUSIP: 91912E105 Class: SPONSORED ADS

SIGNET FINANCIAL MANAGEMENT, LLC's Holding History (CIK: 0001600307)

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

Q1 2017

Shares 20,550 Value ($000) $195 Avg Close — Range —

Q4 2016

Shares 20,550 Value ($000) $157 Avg Close — Range —

Q3 2016

Shares 20,550 Value ($000) $113 Avg Close — Range —

Q2 2016

Shares 20,550 Value ($000) $104 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	20,550	$195	—	—
Q4 2016	20,550	$157	—	—
Q3 2016	20,550	$113	—	—
Q2 2016	20,550	$104	—	—