Vale S A : 01/14/2020 Clarification on CVM / B3 questions

Rio de Janeiro, January 14th, 2020

To

B3 S.A. - Brasil, Bolsa, Balcão ("B3")

Mrs. Ana Lucia da Costa Pereira

c.c.:

CVM - Comissão de Valores Mobiliários

Mr. Fernando Soares Vieira

Mr. Francisco José Bastos Santos

Ref: Request for clarification on news article

In compliance with Official Letter 27/2020-SLS sent by B3 ("Letter"), whereby Vale SA ("Vale" or "Company") is requested to clarify the news article published in the newspaper Valor Econômico on January 14, 2020, "Vale negotiates acquisition of electricity in Aliança", which includes, among other information, that: a) mining company Vale and Cemig have started negotiations on Aliança Energia; and b) Cemig's stake (45%) is valued at least R$ 2 billion; the Company provides certain clarifications.

Regarding the news article, the Company clarifies that is committed to transparency and to keep its shareholders and the market informed about its business and activities.

As widely disclosed after the announcement during Vale Day, followed by a release of Material Fact, on December 2nd, 2019, under the header "Vale informs on estimates update" and as informed in the Reference Form, Vale reinforced its ambition to achieve 100% self-generation of clean energy by 2030.

Thus, Vale is in discussion with financial advisors to study eventual operations and available alternatives in the market aligned with its energy strategy and efficient capital allocation. Until the present date, there is no decision or any binding instrument on Vale, regarding the acquisition of the asset informed in the news article.

The Company remains available to provide any further clarifications.

Sincerely,

VALE S.A.