Vale reports on removal of employees

About Vale

3/8/2019

Vale reports on removal of employees

Vale has announced that, on March 1, 2019, it received from the Federal Attorney's Office, the Public Prosecution Office of Minas Gerais, the Federal Police and the Civil Police of Minas Gerais ("Task Force") a recommendation to remove some employees from office and to specifically forbid other employees from performing dam safety monitoring and/or risk management activities.

On Saturday, March 02, 2019, the executives Fábio Schvartsman (Chief Executive Officer), Gerd Peter Poppinga (Executive Director of Ferrous and Coal), Lucio Flavio Gallon Cavalli (Director of Planning and Development of Ferrous and Coal) and Silmar Magalhães Silva (Operations Director of the Southeast Corridor), voluntarily submitted to the Board of Directors their requests for temporary removal from office, which were immediately accepted.

Later on that day, following Vale's institutional guidelines for collaborating with all authorities involved in the investigation into the breach of Dam I at the Córrego do Feijão mine - guidelines that have been complied with since day one -, the Board of Directors met and decided to follow the recommendation in its entirety, which was then promptly accepted by the Executive Board, for the benefit of the investigation.

Thus, at a meeting held on March 7, 2019, the Executive Board formally agreed with the Task Force's recommendation and proceeded to remove and relocate the other employees listed in the document.

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Vale reports on removal of employees