Rio de Janeiro, March 28, 2014 - Vale S.A.

(Vale) informs that its Executive Board has approved and will submit to the Board of Directors the proposal for payment of the first installment of the minimum dividend of US$ 2.1 billion, as publicly announced on January 30, 2014, equal to US$ 0.407499945 per common or preferred share in circulation, as of February 28, 2014 (5,153,374,926).

The proposal will be submitted for approval to the Board of Directors in the meeting scheduled for April 14, 2014 and, if approved, the payment of US$ 2.1 billion will be made on April 30, 2014.

The amount in Brazilian reais will be computed using the Brazilian real/US dollar exchange rate (Ptax-Option 5) published by the Central Bank of Brazil on April 11, 2014.

Once the proposal is approved by the Board, all investors who hold Vale shares at the record dates at the close of the business day will have the right to the dividend payment.

The record date for the owners of shares traded on the BM&FBovespa is April 14, 2014.

The record date for the holders of ADRs traded on the New York Stock Exchange (NYSE) and Euronext Paris is April 17, 2014 and for the holders of HDRs traded on the Hong Kong Stock Exchange (HKEx) on April 17, 2014.

Vale shares will be traded ex-dividend on BM&FBovespa, NYSE and Euronext Paris as of April 15, 2014 and on the HKEx as of April 16, 2014.