Iron Ore 38,651 36,493 33,889 107,529 93,020 5.9% 14.1% 15.6% Northern System Southeastern System 27,240 25,166 31,379 74,950 86,419 8.2% -13.2% -13.3% 10,431 10,008 11,216 30,425 30,141 4.2% -7.0% 0.9% Minas Centrais 25,648 24,575 24,430 72,255 74,372 4.4% 5.0% -2.8% Southern System 7,750 7,362 7,554 22,435 20,772 5.3% 2.6% 8.0% Vargem Grande 554 589 1,041 1,726 3,657 -5.9% -46.7% -52.8% Midwestern System - 38 414 367 1,246 -100.0% -100.0% -70.6% Urucum Production summary Vales iron ore production2 was 92.1 Mt in 3Q16, 5.3 Mt higher than in 2Q16 and 1.4 Mt higher than in 3Q15, mainly due to: (i) better operational performance at the mines and plants of the Northern System; (ii) the start-up of a new crushing facility at the Fazendão mine; and (iii) better productivity at the Southern and Southeastern systems. Vale´s Global Recovery (GR)3 increased from 41.0% in 2014 to 46.0% in 2015 and is expected to reach 48.1% in 2016. On a quarter-on-quarter basis, GR increased from 46.6% in 3Q15 to 49.4% in 3Q16. 2 Including third party purchases and excluding Samarcos attributable production . 3 Measured by output of final production divided by the total tons extracted (ROM and waste). 5 IRON ORE92,09386,82390,739256,461 257,4686.1%1.5%-0.4% Corumbá5545526271,3592,4110.5%-11.6%-43.6% Minas Itabirito10,91910,20610,01530,20531,7837.0%9.0%-5.0% Paraopeba6,9787,0076,86119,61521,817-0.4%1.7%-10.1% Mariana8,0286,66710,35319,61521,81720.4%-22.5%-33.6% Itabira8,7818,4919,80924,78426,5613.4%-10.5%-6.7% Carajás38,65136,49333,889107,52993,0205.9%14.1%15.6% % change 000 metric tons3Q162Q163Q159M169M15 3Q16/2Q163Q16/3Q159M16/9M15