Vale S A : 02/20/2020 Vale on subsidiaries incorporation proposals

Rio de Janeiro, February 20th, 2020 - Vale S.A. ('Vale' or 'Company'), pursuant to the Article 2, VII, of Rulling 358/02, issued by the Brazilian Securities Commission ('CVM'), informs that, aiming at simplifying its corporate structure, has proposed the incorporation, by the Company, of the following subsidiaries: Ferrous Resources do Brasil S.A.; Mineração Jacuípe S.A.; Minas da Serra Geral S.A.; MSE - Serviços de Operação, Manutenção e Montagens Ltda.; Mineração Guariba Ltda.; and Retiro Novo Reflorestamento Ltda, whose capital shares or stocks are 100% held by Vale.

The proposals of incorporation approved, as of today, by the Board of Directors, will be submitted to deliberation at Vale's Annual Meeting of Shareholders, which will be convened within the legal term.

For further information, please contact: [phone] Andre Figueiredo: [e-mail] Andre Werner: [e-mail] Mariana Rocha: [e-mail] Samir Bassil: [e-mail] 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, 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) and in particular the factors discussed under 'Forward-Looking Statements' and 'Risk Factors' in Vale's annual report on Form 20-F.

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