MINAS-RIO: SAFETY AS A CORNERSTONE OF PERFORMANCE

SHIPPED FIRST ORE ON 25 OCTOBER 2014 FOOS delivered safely and responsibly within revised plan and budget • First Ore on Ship two months ahead of schedule • Capital saving 0.4 billion - $8.4 billion Ramp-up: 18-20 months post First Ore on Ship • 13 shipments to customers in China, India, Middle East and Europe (by end March) • Production of 1.2 million tonnes (Q1 2015) • The team is well positioned to deliver ramp-up, safely, by Q2 2016 • ~4,000 employees (steady state) • • Diversified team with several years of mining experience Production guidance: 2015: 1114 million tones 2016: 24-26 million tones * All tones on wet basis H 9

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