Vale S.A. — Capital/Financing Update 2015

May 19, 2015

Press Release

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

==> picture [421 x 34] intentionally omitted <==

Vale concludes the sale ofVLOCs to Cosco

Rio de Janeiro, May 19[th] , 2015 – Vale S. A. (Vale) and the China Ocean Shipping Company (Cosco), the largest dry bulk carrier in China and one of the largest dry bulk shipping operators worldwide, concluded today the sale of four very large ore carriers of 400,000 tons deadweight owned and currently operated by Vale. This transaction is related to the previously disclosed agreement signed with Cosco on September 12, 2014.

The transaction totaled US$ 445 million and this amount will be received by Vale upon delivering of the vessels to Cosco, which is expected to happen in June, 2015.

For further information, please contact: +55-21-3814-4540 Rogerio Nogueira: rogerio.nogueira@vale.com Andre Figueiredo: andre.figueiredo@vale.com Carla Albano Miller: carla.albano@vale.com Fernando Mascarenhas: fernando.mascarenhas@vale.com Andrea Gutman: andrea.gutman@vale.com Bruno Siqueira: bruno.siqueira@vale.com Claudia Rodrigues: claudia.rodrigues@vale.com Marcio Loures Penna: marcio.penna@vale.com Mariano Szachtman: mariano.szachtman@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.