VALE S A

Ticker: VALE CUSIP: 91912E105 Class: SPONSORED ADS

Ayalon Insurance Comp Ltd.'s Holding History (CIK: 0001642216)

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

Q4 2015

Shares 25,900 Value ($000) $85 Avg Close — Range —

Q3 2015

Shares 37,900 Value ($000) $167 Avg Close — Range —

Q2 2015

Shares 95,900 Value ($000) $552 Avg Close — Range —

Q1 2015

Shares 102,900 Value ($000) $581 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	25,900	$85	—	—
Q3 2015	37,900	$167	—	—
Q2 2015	95,900	$552	—	—
Q1 2015	102,900	$581	—	—