VALE Vale SA

Press Release Disbursements related to Brumadinho Vale informs that will file again in due course the item 11 of its Reference Form, in the period required by the Instruction CVM number 480 of December 7, 2009, as amended. Vale clarifies that the information provided in this document represent only an expectation, hypothetical data that by no means constitute a promise of performance by Vale and/or its management. The estimates presented involve market factors that are beyond the control of Vale and, therefore, can be subject to new changes. For further information, please contact: +55-21-3485-3900 Andre Figueiredo: andre.figueiredo@vale.com Andre Werner: andre.werner@vale.com Mariana Rocha: mariana.rocha@vale.com Samir Bassil: samir.bassil@vale.com This press release may include statements that present Vale’s expectations about future events or results. All statements, when based upon expectations about the future, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), and the French Autorité des Marchés Financiers (AMF), and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F. 4 Amount already provisioned. 5 Disbursements up to 2031. According to the de-characterization plan of the upstream dams, the main assumptions consider, among others: (i) the volume of tailings to be removed which was based on available historical information and the interpretation of laws and regulations in force; (ii) the availability of tailings disposal sites; and (iii) the approval of engineering and solutions methods submitted to the competent authorities. 6 Disbursements up to 2023. Amounts refer to projects and initiatives aiming to recover the environment and compensate the society and may vary due to the early stage of ongoing negotiations, timing and scope of the programs, which are subject to the approval and consent of the relevant authorities, among others. US$ million 2019E 2020E 2021E 2022E De-characterization4,5 100 - 150 300 - 400 200 - 300 100 - 200 Reparation 4,6 800 - 1,000 1,200 - 1,700 800 - 1,200 100 - 300 Total 900 - 1,150 1,500 - 2,100 1,000 - 1,500 200 - 500