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Citi Appointed Successor Depositary Bank for Vale S.A.'s ADR Programs

V.ZZE.H | December 22, 2015

Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by Vale S.A., one of the largest metals and mining companies in the world, as the successor depositary bank for its sponsored American Depositary Receipt (ADR) programs.

Vale’s ADRs are traded on the New York Stock Exchange under the symbol “VALE” for its ADRs representing common shares and “VALE.P” for its ADRs representing preferred shares. Each ADR represents one common or one preferred share, respectively. Vale is based in Brazil and its underlying common and preferred shares are listed on the BM&FBOVESPA Stock Exchange.

"We look forward to working with Citi to further develop and improve our ADR program. Providing value for our ADR holders is an important commitment," said Luciano Siani, CFO of Vale.

“We are honored to be appointed successor depositary bank for Vale’s ADR programs,” said Dirk Jones, Head of Global Issuer Services at Citi. “With Citi’s unparalleled global presence and investor relations expertise, we are confident we can facilitate the continued success of Vale’s ADR programs and provide best-in-class service to its ADR holders.”

Citi is a leading provider of depositary receipt services. With depositary receipt programs in 56 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.

For more information about Citi’s Depositary Receipt Services, please visit www.citi.com/dr.

Vale

Vale is one of the largest metals and mining companies and one of the largest publicly traded companies in the world. Vale has a market capitalization of around US$ 15 billion, with approximately 330,000 shareholders from all continents. Vale is the world’s largest producer of iron ore and iron ore pellets, key raw materials for steelmaking, and the world’s largest producer of nickel, which is used to produce stainless steel and metal alloys employed in the production of aircraft, autos, mining and energy equipment, mobile phones, batteries, special batteries for hybrid electric vehicles and several other products. Vale also produces copper, platinum group metals, gold, silver, cobalt, manganese ore, ferroalloys, metallurgical and thermal coal, potash, phosphates and other fertilizer nutrients, important raw materials for the global industrial and food production industries.

Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.