VALE S A

CUSIP: 91912E204 Class: COM

COMMERZBANK AKTIENGESELLSCHAFT /FI's Holding History (CIK: 0000852933)

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

Q2 2014
Shares 76,564 Value ($000) $911 Avg Close — Range —
Q1 2014
Shares 76,564 Value ($000) $953 Avg Close — Range —
Q4 2013
Shares 81,074 Value ($000) $996 Avg Close — Range —
Q3 2013
Shares 70,606 Value ($000) $1,003 Avg Close — Range —
Q2 2013
Shares 101,997 Value ($000) $1,240 Avg Close — Range —