VALE S A

CUSIP: 91912E204 Class: COM

Employees Retirement System of Texas's Holding History (CIK: 0001398739)

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

Q3 2014
Shares 188,340 Value ($000) $1,829 Avg Close — Range —
Q2 2014
Shares 188,340 Value ($000) $2,241 Avg Close — Range —
Q1 2014
Shares 188,340 Value ($000) $2,345 Avg Close — Range —
Q4 2013
Shares 188,340 Value ($000) $2,639 Avg Close — Range —
Q3 2013
Shares 188,340 Value ($000) $2,676 Avg Close — Range —
Q2 2013
Shares 188,340 Value ($000) $2,290 Avg Close — Range —