Vale S A : 01/21/2021 0121 PDM_i.pdf

Press Release

PDM incident without impact on iron ore shipments and production

Rio de Janeiro, January 21st, 2021 - Vale S.A ("Vale" or "Company") informs that a fire occurred on January 14th in one of the eight ship loaders at the Ponta da Madeira Maritime Terminal ("PDM" or "Port"), in São Luís, Maranhão. The fire was controlled, without casualties or environmental damage. The affected site is under assessment and the causes of the incident are under investigation.

PDM has a nominal shipping capacity of 230 Mtpy and a total of three piers, five berths and eight ship loaders. The incident occurred with ship loader 6 ("CN6"), at the Southern berth of Pier IV ("P4S"). The P4S has a second ship loader ("CN7"), which was not affected. The Company expects to resume shipping activities at P4S in the next few days with CN7.

There will be no impact on the monthly iron ore shipment schedule, due to: (i) the Northern System production seasonality, due to the rainy season in the North of Brazil, and (ii) the Northern System expected production for 2021, below the shipping capacity of 230 Mtpy.

Vale expects to conclude the CN6 maintenance activities in the first half of 2021, therefore without impacts on shipments and production in 2021.

Images - Ponta da Madeira Maritime Terminal

Luciano Siani Pires

Executive Officer of Investor Relations

Ever since the Covid-19 outbreak began, our highest priority is the health and safety of our employees. Our IR team adopted work-from- home, and as we continue to face these new circumstances, we strongly recommend you prioritize e-mail and online engagement.

For further information, please contact:

[e-mail]

Ivan Fadel: [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, wh en 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;

Press Release

1. 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.