Vale S.A. — Capital/Financing Update 2014

Jan 22, 2014

Press Release

==> picture [111 x 52] intentionally omitted <==

==> picture [421 x 33] intentionally omitted <==

Vale signs agreement to sell additional stake in VLI

Rio de Janeiro, December 23, 2013 – Vale S. A. (Vale) informs that it had signed an agreement with an investment fund managed by Brookfield Asset Management (Brookfield) for the sale of 26.5% of Vale’s stake in VLI S.A (VLI), an integrated general cargo logistics company wholly-owned by Vale, for R$ 2 billion.

In September 2013, Vale signed agreements to transfer 20% of the total capital of VLI to Mitsui & Co., Ltd. (Mitsui) and 15.9% to the Investment Fund of the Fundo de Garantia do Tempo de Serviço – FGTS (FI-FGTS), whose assets are managed by the Brazilian bank Caixa Econômica Federal.

After the conclusion of the transactions with Mitsui, FI-FGTS and Brookfield, Vale’s stake in VLI will be of 37.6%. The conclusion of the aforementioned transactions will be subject to approval by relevant authorities, including the Conselho Administrativo de Defesa Econômica – CADE and to the usual precedent conditions.

The divestment of stakes in VLI is consistent with Vale’s strategy of reducing its exposure to noncore assets and significantly decreasing future capital expenditures on these assets. This strategy is a result of the discipline in capital allocation and value maximization for shareholders.

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 Marcelo Bonança : marcelo.bonanca@vale.com Marcelo Lobato: marcelo.lobato@vale.com Marcio Loures Penna: marcio.penna@vale.com Samantha Pons: samantha.pons@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.