

| VALE SA | 25/04/2016 AGM | |
|---|---|---|
| 1 | Approve Financial Statements | Oppose |
| 2 | Approve the Dividend | For |
| 3 | Elect Alberto Ribeiro Guth and Arthur Prado Silva | Oppose |
| 4.1 | Elect the Fiscal Council appointed by the Controlling Shareholders | For |
| 4.2 | Elect the Fiscal Council appointed by the Minority Shareholders | Abstain |
| 5 | Approve the Remuneration Report | Oppose |