Vale S.A. — Capital/Financing Update 2011

Apr 7, 2011

Press Release

==> picture [118 x 55] intentionally omitted <==

==> picture [448 x 36] intentionally omitted <==

Vale to pay remuneration on Participative Debentures

Rio de Janeiro, April 6, 2011 – Vale informs that it will pay an additional remuneration on its shareholder debentures (debentures) of R$0,015466940 per debenture, amounting to a total of R$6,009,819.80, to debenture holders with position registered on the SND – Módulo Nacional de Debêntures (National Debentures Module) and Banco Bradesco S.A., on March 30, 2011.

The additional remuneration is a result of a difference in the calculation base in the remuneration paid on April 1, 2011. We emphasize that the additional remuneration has been duly calculated and remunerated in accordance with Clause III, letter (k) of the issue deeds, and is in line with the calculations carried out by the fiduciary agents of this issue, SLW - Corretora de Valores e Câmbio Ltda.

The funds will be paid on Friday, April 8, 2011, through CETIP S.A. – Balcão Organizado de Ativos e Derivativos and Banco Bradesco S.A.

A withholding income tax will be charged on the amount to be paid to debenture holders, at the same rate applicable to fixed income investments. The tax rate will vary according to each investor individual situation, with the exception of those who can provide legal, unequivocal, proof that they are tax exempt.

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 Christian Perlingiere: christian.perlingiere@vale.com Andrea Gutman: andrea.gutman@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.