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LISTED COMPANY
CORPORATE TAX CODE (CNPJ) No. 33.592.510/0001-54
BOARD OF TRADE REGISTRATION (NIRE) No. 33.300.019.766
EXCERPT OF THE MINUTES OF THE
EXTRAORDINARY BOARD OF DIRECTORS MEETING
On March 10, 2021, at 2:00 pm, met, by videoconference, Messrs. José Maurício Pereira Coelho –
Chairman, Fernando Jorge Buso Gomes – Vice-Chairman, Eduardo de Oliveira Rodrigues Filho,
Isabella Saboya de Albuquerque, José Luciano Duarte Penido, Lucio Azevedo, Marcel Juviniano
Barros, Marcelo Gasparino da Silva, Murilo Cesar Lemos dos Santos Passos, Oscar Augusto de
Camargo Filho, Roger Allan Downey, Sandra Maria Guerra de Azevedo and Toshiya Asahi. Mr. Luiz
Gustavo Gouvêa was present as Governance Secretary of Vale. Thus, the Board of Directors
approved the following: “LIST OF CANDIDATES TO THE BOARD OF DIRECTORS (ORDINARY
SHAREHOLDERS MEETING 2021) – Mr. Pedro Parente (Coordinator), Alexandre Gonçalves Silva
and José Maurício Coelho, members of the Nomination Committee, discuss each of the names to
be proposed to make up a list of candidates to the Board of Directors, as well as provide the following
clarifications to the Board of Directors: (a) regarding the appointment of Mr. Clinton James Dines,
highlighted the nominee’s remarkable knowledge of China and the mining business, two extremely
critical topics for Vale’s business strategy, and that, in line with the recommendation of the
Compliance area of Vale Company, his tenure as a Board Member will take place on 08/01/2021,
when he will no longer occupy the position of Board Member at Zanaga Iron Ore Company - an
association of a competitor of Vale for a project venture; (b) with respect to the appointment of Mrs.
Elaine Dorward-King, who has notable experience in Risk and Safety Management, Mining and
Environmental, Social and Governance (“ESG”), it was clarified that she currently holds the position
of Director in 4 other publicly held companies (smaller than Vale), and that recently she left her
executive duties to dedicate herself completely to the role of director, being, therefore, within the
parameters recommended by proxy advisors for dedication to the functions of director of
management at Vale; (c) regarding the appointment of Ms. Maria Fernanda dos Santos Teixeira,
emphasized that, in addition to the competencies in ESG, the candidate has experience in the area
of technology and as coordinator in the Audit Committee, which may add an important value for the
Board and for the Company; (d) with respect to the nomination of Mr. Ollie Oliveira, emphasized that
the candidate has solid experience in corporate finance and strategy in the mining area, is a
chartered accountant and chartered management accountant, also occupying a position in the Audit
Committee, including as chair, in international companies. In addition, they explained that the
position currently held by him at Antofagasta PLC does not bring structural conflict with the Company
as determined by Vale's Compliance area; (e) Mr. José Luciano Duarte Penido, Murilo César Lemos
dos Santos Passos, Roger Allan Downey and Sandra Maria Guerra de Azevedo are independent
candidates who have already made an important contribution to the Company in the current
management; and (f) emphasized that the choice of Mr. Eduardo de Oliveira Rodrigues Filho,
Fernando Jorge Buso Gomes, José Mauricio Pereira Coelho and Ken Yasuhara, non-independent
candidates, followed the evaluation process, interviews and that the profile of each one is appropriate
to the matrix of competence and the necessary professional experience. After discussing the matter,
the Board of Directors approved the following Nomination Committee proposals to be submitted to
the Ordinary Shareholders Meeting of the company, scheduled to April 30, 2021: (i) to establish the
composition of the Board of Directors at 13 (thirteen) effective members and one alternate member,
being certain that, among the members of the Board of Directors, 01 (one) effective member and his
alternative will be elected in a separated vote, by the Company’ s group of employees; (ii) the list of
candidates to compose the Board of Directors for the term from 2021 to 2023, as follows: (ii.a) as
independent members Messrs. Clinton James Dines, Elaine Dorward-King, José Luciano Duarte
Penido, Maria Fernanda dos Santos Teixeira, Murilo César Lemos dos Santos Passos, Manuel Lino
Silva de Sousa Oliveira (Ollie Oliveira), Roger Allan Downey and Sandra Maria Guerra de Azevedo,
and (ii.b) as non-independent members Messrs. Eduardo de Oliveira Rodrigues Filho, Fernando
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