VALE S A

CUSIP: 91912E204 Class: COM

Nikko Asset Management Americas, Inc.'s Holding History (CIK: 0001480751)

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

Q2 2014
Shares 19,900 Value ($000) $237 Avg Close — Range —
Q1 2014
Shares 23,500 Value ($000) $288 Avg Close — Range —
Q4 2013
Shares 24,300 Value ($000) $339 Avg Close — Range —
Q3 2013
Shares 32,100 Value ($000) $454 Avg Close — Range —
Q2 2013
Shares 32,100 Value ($000) $391 Avg Close — Range —