Vale Investor Presentation — October 2018

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Vale’s Performance in 3Q18

Rio de Janeiro, October 25th, 2018Truckless system –S11D2

Agenda“This presentation may include statements thatpresent Vale's expectations about

future events orresults .Allstatements, when based upon expectations about the

future and notonhistorical facts, involve various risks anduncertainties .Vale

cannot guarantee that such statements willprove correct .These risks and

uncertainties include factors related tothefollowing :(a)thecountries where we

operate, especially Brazil andCanada ;(b)theglobal economy ;(c)thecapital

markets ;(d)themining and metals prices and their dependence onglobal

industrial production, which iscyclical bynature ;and(e)global competition inthe

markets inwhich Vale operates .Toobtain further information onfactors thatmay

lead toresults different from those forecast byVale, please consult thereports

Vale files with theU.S.Securities and Exchange Commission (SEC), the

Brazilian Comissão deValores Mobiliários (CVM), theFrench Autorité des

Marchés Financiers (AMF) and inparticular the factors discussed under

“Forward -Looking Statements” and“Risk Factors” inVale’s annual report onForm

“Cautionary Note toU.S.Investors -TheSEC permits mining companies, intheir

filings withtheSEC, todisclose only those mineral deposits thatacompany can

economically and legally extract orproduce .Wepresent certain information in

thispresentation, including ‘measured resources,’ ‘indicated resources,’ ‘inferred

resources,’ ‘geologic resources’, which would notbepermitted inanSEC filing.

These materials arenotproven orprobable reserves, asdefined bytheSEC, and

wecannot assure youthat these materials willbeconverted intoproven or

probable reserves, asdefined bytheSEC.U.S.Investors should consider closely

thedisclosure inourAnnual Report onForm 20-K,which may beobtained from

us,from ourwebsite orathttp://http ://us.sec.gov/edgar .shtml .”

AgendaAgenda1.Highlights of Vale’s performance in 3Q18

2.Capital Allocation

3.Business segment performance4Highlights of Vale’s

performance in 3Q185Delivering in every meaningful way5

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