Financial Statements

Financial Statements

December 31, 2018

IFRS in US$

Vale S.A. Financial Statements Contents

Report of independent registered public accounting firm Consolidated Income Statement Consolidated Statement of Comprehensive Income Consolidated Statement of Cash Flows Consolidated Statement of Financial Position Consolidated Statement of Changes in Equity Notes to the Financial Statements

1. Corporate information 2. Basis for preparation of the financial statements 3. Brumadinho's dam failure 4. Information by business segment and by geographic area 5. Costs and expenses by nature 6. Financial results 7. Streaming transactions 8. Income taxes 9. Basic and diluted earnings (loss) per share 10. Accounts receivable 11. Inventories 12. Recoverable taxes 13. Other financial assets and liabilities 14. Non-current assets and liabilities held for sale and discontinued operations 15. Subsidiaries 16. Investments in associates and joint ventures 17. Noncontrolling interest 18. Intangibles 19. Property, plant and equipment 20. Impairment and onerous contracts 21. Loans, borrowings and cash and cash equivalents 22. Liabilities related to associates and joint ventures 23. Financial instruments classification 24. Fair value estimate 25. Derivative financial instruments 26. Provisions 27. Asset retirement obligations 28. Litigation 29. Employee benefits 30. Stockholders' equity 31. Related parties 32. Commitments 33. Risk management 34. Additional information about derivatives financial instruments

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