Vale S.A. — Capital/Financing Update 2012

Apr 25, 2012

Press Release

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Vale signs leasing contract for potash assets and mining rights

Rio de Janeiro, April 23, 2012 –Vale S.A. (Vale) announces the signature of the renewal of the leasing contract of potash assets and mining rights with Petróleo Brasileiro S.A. (Petrobras) in the state of Sergipe, Brazil, for a period of 30 years, allowing for the continuation of potash mining in TaquariVassouras and the development of the Carnalita project.

Currently in the detailed engineering phase, the project is subject to approval by Vale’s Board of Directors. Carnalita is expected to be the largest potash operation in Brazil, with an estimated nominal capacity of 1.2 million metric tons of potash per year.

The contract is aligned with our growth strategy of becoming one of the leading global players in the fertilizers industry.

For further information, please contact: +55-21-3814-4540 Roberto Castello Branco: roberto.castello.branco@vale.com Viktor Moszkowicz: viktor.moszkowicz@vale.com Carla Albano Miller: carla.albano@vale.com Andrea Gutman: andrea.gutman@vale.com Christian Perlingiere: christian.perlingiere@vale.com Fernando Frey: fernando.frey@vale.com Marcio Loures Penna: marcio.penna@vale.com Samantha Pons: samantha.pons@vale.com Thomaz Freire: thomaz.freire@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 and not on historical facts, 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), the French Autorité des Marchés Financiers (AMF), and The Stock Exchange of Hong Kong Limited, and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F.