Vale clarifies on severance payments of its executives

About Vale

4/1/2019

Vale clarifies on severance payments of its executives

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Vale, in view of incorrect news recently published in the Brazilian press about the severance payments of its executives, ratifies the proposal for the management's overall remuneration for 2019 to be resolved at the next General Shareholder Meeting ("GSM"), which will be held in April 30th, 2019.

According to the material of the GSM notice, published on March 28th, 2019, the amount to be resolved contemplates the budget forecast of R$ 21,999,445.33 for the entire Severance expenditure item. This figure includes termination payments of executives who left the company in 2017 and 2018. Therefore, there is no provision for severance payments for dismissed executives in 2019, nor is there any ongoing discussion on the issue.

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Vale clarifies on severance payments of its executives