VALE S A

CUSIP: 91912E20 Class: ADR REPSTG PFD

ARROWSTREET CAPITAL, LIMITED PARTNERSHIP's Holding History (CIK: 0001164508)

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

Q3 2016
Shares 109,200 Value ($000) $514 Avg Close — Range —
Q4 2015
Shares 475,814 Value ($000) $1,213 Avg Close — Range —
Q3 2015
Shares 13,268,044 Value ($000) $67,004 Avg Close — Range —
Q2 2015
Shares 13,268,044 Value ($000) $67,004 Avg Close — Range —
Q1 2015
Shares 1,035,700 Value ($000) $5,023 Avg Close — Range —
Q4 2014
Shares 882,930 Value ($000) $6,410 Avg Close — Range —
Q4 2013
Shares 1,550,146 Value ($000) $21,718 Avg Close — Range —
Q3 2013
Shares 3,485,921 Value ($000) $49,535 Avg Close — Range —