VALE S A

CUSIP: 91912E204 Class: COM

HBK INVESTMENTS L P's Holding History (CIK: 0001011443)

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

Q3 2015
Shares 210,640 Value ($000) $706 Avg Close — Range —
Q2 2015
Shares 391,700 Value ($000) $1,978 Avg Close — Range —
Q3 2014
Shares 73,957 Value ($000) $718 Avg Close — Range —
Q2 2014
Shares 231,765 Value ($000) $2,758 Avg Close — Range —
Q1 2014
Shares 353,300 Value ($000) $4,399 Avg Close — Range —
Q4 2013
Shares 243,300 Value ($000) $3,409 Avg Close — Range —
Q3 2013
Shares 323,525 Value ($000) $4,597 Avg Close — Range —