“Vale response to the allegations publicized at / Resposta da Vale às alegações publicadas em:...[CIDSE article/Artigo da CIDSE]...”, June, 2016

…Samarco opened a channel for the public aiming to clarify…all the details about the case…As a shareholder…, together with BHP Billiton, Vale has been participating actively in measures to guarantee the safety and the fundamental rights of the people affected by the accident. Since the first day, we have been providing human and material resources to aid Samarco. However , these expenses did not affect the Vale ́s 2015 results, as reported…Samarco,…Vale and…BHP Billiton…entered into a settlement agreement on March 2, 2016 with governmental authorities...”...[that]…provides for a long-term remedial and compensation framework to address the impacts of the Samarco accident. Samarco, Vale and BHP Billiton…will establish a Foundation that will develop and execute environmental and socio-economic programs to remediate and provide compensation for damage caused by the…dam failure. The funds to the Foundation will be provided primarily by Samarco…[,]…currently unable to conduct ordinary mining and processing…To the extent Samarco does not meet its funding obligations, each of Vale and BHP Billiton…is liable in proportion to its 50 per cent shareholding in Samarco. The agreement was ratified by the Federal Court of Brazil, at a conciliation hearing held on May 5th, at the Federal Regional Court of the 1st Region…

[It refers to Aliança Norte Energia Participações (Aliança Norte), a joint venture between Vale and Cemig Geração e Transmissão (Cemig GT), Eletrobrás and Norte Energia Participações]