VALE S A

CUSIP: 91912E204 Class: COM

LMCG INVESTMENTS, LLC's Holding History (CIK: 0001470944)

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

Q1 2015
Shares 865,700 Value ($000) $4,199 Avg Close — Range —
Q4 2014
Shares 844,036 Value ($000) $6,126 Avg Close — Range —
Q3 2014
Shares 654,361 Value ($000) $6,354 Avg Close — Range —
Q2 2014
Shares 565,424 Value ($000) $6,729 Avg Close — Range —
Q1 2014
Shares 454,124 Value ($000) $5,654 Avg Close — Range —
Q4 2013
Shares 291,565 Value ($000) $4,085 Avg Close — Range —
Q3 2013
Shares 23,791 Value ($000) $338 Avg Close — Range —
Q2 2013
Shares 7,727 Value ($000) $94 Avg Close — Range —