VALE S A

CUSIP: 91912E204 Class: COM

SPX Gestao de Recursos Ltda's Holding History (CIK: 0001589176)

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

Q1 2015
Shares 426,530 Value ($000) $2,069 Avg Close — Range —
Q3 2014
Shares 359,674 Value ($000) $3,492 Avg Close — Range —
Q1 2014
Shares 953,169 Value ($000) $11,867 Avg Close — Range —
Q4 2013
Shares 99,788 Value ($000) $1,398 Avg Close — Range —
Q2 2013
Shares 327,800 Value ($000) $3,986 Avg Close — Range —