Vale S A : 11/11/2019 Vale informs on estimates updates

Rio de Janeiro, November 11th, 2019 - Vale S.A. (Vale) informs that it has updated its copper production guidance for 2019 to 382,000 - 386,000 tons, mainly due to an unscheduled stoppage maintenance at the conveyor belt and the sag mill of Sossego operation. It is expected to resume production by mid-December.

Vale also states that it has updated its iron ore and pellets sales guidance for 2019 to 307 - 312 Mt, given more visibility on sales expected for 4Q19, which should range between 83 - 88 Mt. For 1Q20, the production and sales are expected to range between 70 - 75 Mt, due to seasonality, the gradual and safe return of operations and in line with margin over volume strategy.

Additionally, Vale informs that will file again in due course the item 11 of its Reference Form, in the period required by the Instruction CVM number 480, of December 7th, 2009, as amended.
Vale clarifies that the information provided in this document represent only an expectation, hypothetical data that by no means constitute a promise of performance by Vale and/or its management. The estimates presented involve market factors that are beyond the control of Vale and, therefore, can be subject to new changes.

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 the French Autorité des Marchés Financiers (AMF), and in particular the factors discussed under 'Forward-Looking Statements' and 'Risk Factors' in Vale's annual report on Form 20-F.