VALE Vale SA

Vale’s iron ore briquettes VALE’S PERFORMANCE IN 3Q21

www.vale.com vale.ri@vale.com Investor Relations Department Ivan Fadel André Werner Mariana Rocha Samir Bassil Conference call and webcast on Friday, October 29th - Portuguese (non-translated) at 10:00 a.m. Brasilia time - English at noon Brasilia time (11:00 a.m. New York time, 4:00 p.m. London time). Brazil: (55 11) 4090-1621 or 4210-1803 USA: (1 412) 717-9627 or toll free (1 844) 204-8942 U.K.: (44 20) 3795-9972 Access code: VALE Except where otherwise indicated, the operational and financial information in this release is based on the consolidated figures in accordance with IFRS. Our quarterly financial statements are reviewed by the company’s independent auditors. The main subsidiaries that are consolidated are the following: Companhia Portuária da Baía de Sepetiba, Mineração Corumbaense Reunida S.A., Minerações Brasileiras Reunidas S.A. PT Vale Indonesia Tbk, Salobo Metais S.A, Vale Holdings B.V., Vale Canada Limited, Vale International S.A., Vale Manganês S.A., Vale Malaysia Minerals Sdn. Bhd., Vale Moçambique S.A., Vale Nouvelle- Calédonie SAS, Vale Oman Pelletizing Company LLC and Vale Oman Distribution Center LLC. This press release may include statements about Vale's current expectations about future events or results (forward-looking statements). Many of those forward- looking statements can be identified by the use of forward-looking words such as "anticipate," "believe," "could," "expect," "should," "plan," "intend," "estimate" “will” and "potential," among others. All forward-looking statements involve various risks and uncertainties. Vale cannot guarantee that these statements will prove correct. These risks and uncertainties include, among others, factors related to: (a) the countries where Vale operates, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. Vale cautions you that actual results may differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. Vale undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information or future events or for any other reason. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports that Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM) and, in particular, the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F. Cautionary Note to U.S. Investors – Vale currently complies with SEC Industry Guide 7 in its reporting of mineral reserves in SEC filings. SEC Industry Guide 7 permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We present certain information in this report that are not based upon information or documentation of a qualified person (as defined in Subpart 1300 of Regulation S-K). The stated production target is based on the company's current expectations of future results or events and should not be solely relied upon by investors when making investment decisions. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met. Investors should consider closely the disclosure in our Annual Report on Form 20-F, which may be obtained from us, from our website or at http://http://us.sec.gov/edgar.shtml. The information contained in this press release includes financial measures that are not prepared in accordance with IFRS. These non-IFRS measures differ from the most directly comparable measures determined under IFRS, but we have not presented a reconciliation to the most directly comparable IFRS measures, because the non-IFRS measures are forward-looking, and a reconciliation cannot be prepared without unreasonable effort.

3 Vale’s 3Q21 performance Rio de Janeiro, October 28th, 2021 – “In this third quarter, our iron ore production was close to 90 million tons, with meaningful progress in the operational resumption of the Vargem Grande Complex. We continue to work towards improving operational reliability, especially in the Base Metals business. Our cash generation remains robust, surpassing last quarter by 18%, a pace that allowed the payment of historic dividends in 2021. We now announce a new buyback program, which demonstrates our confidence in Vale's potential. By maintaining our value-over- volume strategy and optimizing costs, we will continue to create and share value with our shareholders.”, commented Eduardo Bartolomeo, Chief Executive Officer. In 3Q21, Vale reported a proforma adjusted EBITDA of US$ 7.109 billion, US$ 4.130 billion lower than 2Q21, mainly due to lower revenues in Ferrous Minerals and Base Metals business, following the lower iron ore realized prices and the lower nickel byproducts revenues, the later impacted by the labor disruption in Sudbury. Cash generation in the quarter reached US$ 7.765 billion, US$ 1.238 billion higher than 2Q21. Reparation of Brumadinho The compensation and reparation currently reach over 11,400 people through individual and labor indemnification agreements, with a total of R$ 2.7 billion committed, out of which R$ 2.5 already paid1. We are also evolving and working with the authorities on the implementation of the Integral Reparation Agreement. Up to September, we paid R$ 3.9 billion in relation to our commitments, such as the water safety program and the first instalments in the urban mobility and reinforcement of public service programs. For 4Q21 we expect to pay approximately R$ 9.2 billion, out of which R$ 4.4 billion related to the income transfer program. For further details on the reparation progress, an overview of ongoing works and projects, and the terms of the Integral Reparation Agreement, please visit www.vale.com/esg. Advancements in the ESG agenda In September, we relinquished all our mineral rights in Indigenous Lands in Brazil, which includes applications for exploration permits and mining concessions. Between 2020 and 2021, Vale relinquished 104 mining processes interfering with Indigenous Lands in Brazil. We believe that mining activities in Indigenous Lands in Brazil can only be carried out through Free, Prior and Informed Consent (FPIC) of the indigenous people themselves. In 3Q21, we also made concrete progress in our Climate Agenda. In July, the first large ore carrier equipped with rotor sails arrived at the Tubarão port. The system will allow an energy efficiency increase of up to 8% per vessel per year. 1 Includes agreements signed by affected people, including those pending court verifications, and paid and payable amounts as of October 21, 2021.

4 In August, the first ore carrier with air-lubrication technology, which we estimate could reduce fuel consumption by around 5 to 8%, arrived at Ponta da Madeira port, and we announced our partnership with Ternium to develop solutions to decarbonize the steel industry. In September, we announced the iron ore briquette, a new product, developed by the company over almost 20 years, which is able to reduce by up to 10%2 of the greenhouse gases (GHG) emissions in the steel production (Vale’s scope 3) and is 80% less intensive than pelletizing process (Vale’s scope 1 and 2). Increasing transparency about Vale's resilience to climate change risks and opportunities and also further detailing our climate-related commitments, Vale released in October 2021 its Climate Change Report, which followed guidelines provided by the Task Force on Climate- Related Financial Disclosures (TCFD). In the Diversity & Inclusion front, the company also released a dedicated report on the subject, which introduces our initiatives and progress, challenges and opportunities in this long journey. We invite you to access both reports, as well as further information on our ESG initiatives and practices, at www.vale.com/esg. Capacity resumption and value-over-volume in iron ore We remain committed to our capacity resumption plan, which is associated with eliminating restrictions, optimizing costs and focusing on margin preservation. In this sense, in 3Q21, we had some significant achievements: In the Vargem Grande complex, we started the Maravilhas III dam operation and the long-distance conveyor belt commissioning. At the end of commissioning, an increase of 6 Mtpy is expected in the production capacity of the site. In the Fábrica site, we reached full capacity after the resumption of beneficiation plants in 2Q21. In the Mariana complex, we received the Regional Superintendence of Labor (SRT) authorization to resume regular operation of the Vitória a Minas Railroad (EFVM) on the Fábrica Nova branch, improving the logistics of the production from the Timbopeba plant. An essential feature of our value chain is the capacity to adapt our production and sales strategy according to market conditions, therefore prioritizing value over volume. We actively take market opportunities to manage our portfolio of products, logistics and inventories, supplying clients under any market condition. Such is the case of the high-silica low-margin products, which we will reduce its offer by 4Mt for the fourth quarter this year after the strong price correction that happened in 3Q21, adjusting for the softer demand we are seeing for this product. If this scenario persists, we should also reduce the offer of low-margin products in 2022 by around 12-15 Mt. For additional information on Vale’s production in 3Q21, please see our Production and Sales report published on October 19, 2021 here. 2 Iron ore briquettes can replace sinter and thus allow a reduction of over 10% in carbon emissions in the BF-BOF steelmaking route.

9 Market overview Iron Ore Iron ore 62% Fe reference price averaged US$ 162.9/dmt in 3Q21, 19% lower than 2Q21, but 27% higher than 3Q20. Along 3Q21, steel production cuts in China impacted iron ore demand and prices retreated from high levels achieved along 2Q21. As a result of lower demand and constant supply, iron ore stocks at China’s ports increased weighting pressure over iron ore prices. MB65% index averaged US$ 190.4/dmt in 3Q21, 18% lower than 2Q21 but 32% higher than 3Q20. Despite the decrease in prices, the spread between the MB65% and the 62% iron ore reference price recovered along the quarter closing September at around US$ 25/t. the increase in coal/coke prices and the high steel margins supported the high-grade premiums. China’s steel production totalled 73.75 Mt in September, achieving accumulated steel production of 805.9 Mt in the 9M21, an increase of 2% vs. 9M20. On the macro side, China’s GDP growth was 4.9% YoY in 3Q21 and accumulated GDP growth in 9M 2021 was 9.8% YoY mainly due to the low base in 2020. Construction and manufacturing sectors recorded strong rebound in the post-pandemic economic recovery of China since 2H 2020, yet downstream activities of both sectors were negatively affected by energy consumption control policy and tight property policy in September and 3Q21. According to World Steel Association (WSA), ex-China steel production totalled 214 Mt in 3Q21, 13% higher YoY and -3.4% QoQ, achieving 655 Mt during the 9M21. All the major markets have improved output compared to 2020, however, slightly below compared to pre-pandemic levels (9M19). The exception is Brazil, with production of 27.2 Mt in 9M21, +9.6% compared to 24.8 Mt in 9M19. EU28, JKT and USA are still slightly below at -1.5%, -2.6% and -2.6% when compared to 9M19 levels, respectively. Outlook WSA, in its latest short-term outlook, forecasts that steel demand should grow by 4.5% YoY in 2021 and further 2.2% to 1,896.4Mt in 2022, guided by the progress on vaccinations across the world and potential new variants being less damaging and disruptive compared to previous waves. Other regions ex-China are expected to continue and strengthen their recovery momentum following a reduction in supply chain bottlenecks, continued pent-up demand and rising business and consumer confidence. However, downside risks such as rising inflation and continued slow vaccination progress in developing countries besides deceleration in China, will be pressuring output and potentially slowing down the economic recovery momentum.

10 Coal Coking coal: The FOB Australia premium low vol (PLV) index averaged US$262.3/t in 3Q21, up significantly from the previous quarter by US$125.8/t. The index increased steadily throughout the quarter on the back of limited supply from Australia, strong post-pandemic demand and high CFR China prices, which rose from an average of $258.2/t in 2Q21 to $405.1/t in 3Q21. With China’s ban on Australian coal still in place, Chinese buyers continued to seek alternative supplies from Canada, USA, Russia and Mozambique. China’s domestic production was affected by safety checks and reduced to meet emissions goals; Mongolian supply continued to be hampered by multiple COVID-related border closures. Outlook China’s accelerating steel cuts should dampen coking coal demand. In addition, ongoing electricity shortages across China may lead to downward economic pressure, triggering power rationing in energy-intensive sectors. For example, demand for finished steel is will likely be affected as manufacturers are forced to either slow or idle production to conserve electricity. Domestic coal supply should see some recovery as China’s supply crunch should soften, though it will take time as safety will remain a top focus for domestic mines. China’s ban on Australian coking coal is expected to remain in place. For international supply, the market view is that availability may improve somewhat in 4Q21. Thermal coal: In the thermal coal market, Richards Bay 6000 kcal NAR price averaged US$ 138.7/t in 3Q21, 33% higher than the previous quarter. Thermal coal prices were at record highs; Richards Bay 6000 kcal NAR price was US$ 200.2/t on September 30, and Australia 6000 kcal NAR and CIF Antwerp-Rotterdam-Amsterdam 6000 kcal NAR were also both above US$ 200.0/t. Coal shortage has contributed to the power crisis in China, while the natural gas shortage in Europe led to a resurgence of coal-fired power generation. Hence, global buyers raced to restock coal and ensure their power supply for winter. Heavy rains in Indonesia and railing issues for Atlantic miners limited seaborne coal supply. The spread between the Australian mid-CV and high-CV grades remained wide at 40% by the end of the quarter, as China continued to ban Australian coal imports. Outlook The market view is that thermal coal prices should trend higher in 4Q21, as demand continues to firm towards the northern hemisphere winter but without a matching supply response likely. The threat of La Niña repeating during winter would offer further upside to prices as it would bring colder weather to Northeast Asia and Europe and at the same time bring wet weather supply disruptions to major coal-producing regions.

14 Adjusted EBITDA Adjusted EBITDA US$ million 3Q21 2Q21 3Q20 Net operating revenues 12,682 16,675 10,762 COGS (5,836) (5,805) (4,816) SG&A (115) (133) (127) Research and development (136) (141) (105) Pre-operating and stoppage expenses (165) (191) (188) Expenses related to Brumadinho (161) (185) (114) Expenses related to COVID-19 donations (10) (16) (15) Other operational expenses (26) (58) (98) Dividends and interests on associates and JVs 5 43 22 Adjusted EBIT 6,238 10,189 5,321 Depreciation, amortization & depletion 700 849 774 Adjusted EBITDA 6,938 11,038 6,095 Proforma adjusted EBITDA¹ 7,109 11,239 6,224 ¹ Excluding expenses related to Brumadinho and COVID-19 donations. Adjusted EBITDA by business area US$ million 3Q21 2Q21 3Q20 Ferrous Minerals 6,730 10,679 5,856 Base Metals 505 866 792 Coal 32 (164) (213) Others (158) (142) (211) Brumadinho expenses (161) (185) (114) Expenses related to COVID-19 donations (10) (16) (15) Total 6,938 11,038 6,095 Net operating revenue by business area US$ million 3Q21 % 2Q21 % 3Q20 % Ferrous Minerals 10,678 84.2 14,297 85.7 8,684 80.7 Iron ore fines 8,530 67.3 12,200 73.2 7,357 68.4 ROM 17 0.1 14 0.1 5 0.0 Pellets 2,009 15.8 1,947 11.7 1,195 11.1 Manganese ore 18 0.1 29 0.2 37 0.3 Ferroalloys 27 0.2 23 0.1 14 0.1 Others 77 0.6 84 0.5 76 0.7 Base Metals 1,574 12.4 2,180 13.1 1,806 16.8 Nickel 761 6.0 815 4.9 794 7.4 Copper 519 4.1 711 4.3 519 4.8 PGMs¹ -20 -0.2 169 1.0 155 1.4 Gold as by-product 166 1.3 163 1.0 218 2.0 Silver as by-product 5 0.0 13 0.1 13 0.1 Cobalt 31 0.2 24 0.1 19 0.2 Others² 112 0.9 285 1.7 88 0.8 Coal³ 352 2.8 161 1.0 103 1.0 Metallurgical coal 222 1.8 99 0.6 76 0.7 Thermal coal 122 1.0 60 0.4 27 0.3 Others 78 0.6 37 0.2 169 1.6 Total 12,682 100.0 16,675 100.0 10,762 100.0 ¹ In 3Q21, PGMs revenue was impacted by negative provisional price adjustments along with lower sales volumes ² Includes marketing activities ³ Includes US$ 8 million of general cargo in 3Q21 and US$ 2 million in 2Q21

15 COGS by business segment US$ million 3Q21 % 2Q21 % 3Q20 % Ferrous Minerals 4,178 71.6 3,879 66.8 2,961 61.5 Base Metals 1,187 20.3 1,459 25.1 1,230 25.5 Coal 364 6.2 340 5.9 321 6.7 Others 107 1.8 127 2.2 304 6.3 Total COGS¹ 5,836 100.0 5,805 100.0 4,816 100.0 Depreciation 653 800 726 COGS, ex-depreciation 5,183 5,005 4,090 ¹ COGS currency exposure in 3Q21 was as follows: 53.9% USD, 41.8% BRL, 4.1% CAD and 0.2% Other currencies. Operating expenses US$ million 3Q21 2Q21 3Q20 SG&A ex-depreciation 104 123 118 SG&A 115 133 127 Administrative 90 108 106 Personnel 29 52 50 Services 29 22 28 Depreciation 11 10 9 Others 21 24 19 Selling 25 25 21 R&D 136 141 105 Pre-operating and stoppage expenses 165 191 188 Depreciation 36 39 39 Expenses related to Brumadinho 161 185 114 Incurred expenses 161 185 114 Expenses related to COVID-19 donations 10 16 15 Other operating expenses 26 58 98 Total operating expenses 613 724 647 Depreciation 47 49 48 Operating expenses ex-depreciation 566 675 599 Impact of Brumadinho provisions and expenses in 3Q21 – in USD US$ million Provisions balance 30jun21 EBITDA impact Payments FX and other adjustments¹ Provisions balance 30set21 Decharacterization 2,155 - (91) (207) 1.857 Integral Reparation Agreement 4,021 - (63) (6) 3.952 Other reparation² 470 - (27) (39) 404 Total Provisions 6,646 - (181) (252) 6.213 Incurred expenses 161 (161) Total 161 (342) 1 Includes foreign exchange, present value and other adjustments ² Includes individual, labor and emergency indemnifications and tailing removal and containment works

16 In 3Q21, Vale paid US$ 342 million related to Brumadinho, including the Integral Reparation Agreement (US$ 63 million), decharacterization program (US$ 91 million), other required reparation (US$ 27 million) and incurred expenses (US$ 161 million). The aggregate amount of the provisions decreased to US$ 6.2 billion, mainly due to the provision payments (US$ 181 million) and Brazilian real depreciation and inflation impact (US$ 252 million). In local currency, the provision increased from R$ 33.2 billion in 2Q21 to R$ 33.8 billion in 3Q21, mainly due to inflation adjustments, as provided in the Integral Reparation Agreement, resulting in an impact of R$ 1.737 billion. This impact was partially offset by the payments of obligations related to (i) decharacterization program (R$ 481 million), (ii) other required reparation (R$ 140 million) and (iii) Integral Reparation Agreement (R$ 350 million). Payments related to the Integral Reparation Agreement for Brumadinho Reparation started in 2Q21, and Vale expects to disburse US$ 1.3 billion in 4Q21 concerning the agreement. Impact of Brumadinho provisions and expenses since 2019 US$ million EBITDA impact by 2020 Payments By 2020 PV & FX adjust Provisions balance 31dec20 EBITDA impact in 9M21 Payments 9M21 FX and other adjustments² 9M21 Provisions balance 30set21 Decharacterization 3,241 (451) (501) 2,289 - (254) (178) 1,857 Agreements & donations¹ 8,056 (2,660) (821) 4,575 - (384) 165 4,356 Total Provisions 11,297 (3,111) (1,322) 6,864 - (638) (13) 6,213 Incurred expenses 1,240 (1240) (461) (461) Others 122 - Total 12,569 (4,351) (461) (1.099) (13) ¹ Includes Integral Reparation Agreement, individual, labor and emergency indemnifications and tailing removal and containment works 2 Includes foreign exchange, present value and other adjustments

17 Pre-operating and stoppage expenses breakdown US$ million 3Q21 2Q21 3Q20 Pre-operating and stoppage expenses 165 191 188 Depreciation 36 39 39 Pre-operating and stoppage expenses, ex-depreciation 129 152 149 Brumadinho - stoppage expenses 52 66 111 Minas Centrais Complex (Brucutu and others) - 6 22 Mariana Complex (Alegria, Timbopeba and others) - - 4 Paraopeba Complex (Mutuca, Fábrica¹ and others) 25 32 52 Vargem Grande Complex (Vargem Grande¹, Pico and others) 27 28 33 Tubarão pellet plants 6 7 7 Ontario 53 59 - Others 18 20 31 ¹ Including pelletizing plants.

19 CAPEX Investments in 3Q21 totaled US$ 1.248 billion, comprising US$ 963 million in the maintenance of operations and US$ 285 million in project execution. Investments were 9.6% higher than in 2Q21, mainly due to: (i) increase of investments in Salobo III and Serra Sul 120 Mtpy projects as planned; (ii) higher sustaining investments in the Ferrous Minerals business mainly as a result of the start-up of works to increase safety factor of Torto dam project; and (iii) higher expenditures in Coal business. Project Execution and Sustaining by business area US$ million 3Q21 % 2Q21 % 3Q20 % Ferrous Minerals 724 58.0 648 56.9 461 51.5 Base Metals 438 35.1 426 37.4 378 42.2 Coal 49 3.9 36 3.2 27 3.0 Energy and others 37 3.0 29 2.5 29 3.2 Total 1,248 100.0 1,139 100.0 895 100.0 Project execution Investments in project execution totaled US$ 285 million in 3Q21, US$ 75 million higher than 2Q21, mainly due to higher investments in: (i) Salobo III project after the re-planning of contractors’ performance; (ii) Serra Sul 120 Mtpy with the hiring of contractors; and (iii) Sol do Cerrado solar project by the acquisition of electromechanical materials. Project execution by business area US$ million 3Q21 % 2Q21 % 3Q20 % Ferrous Minerals 136 47.7 113 53.8 40 36.4 Base Metals 113 39.6 69 32.9 69 62.7 Energy and others 36 12.6 28 13.3 1 0.9 Total 285 100.0 210 100.0 110 100.0 Main project developments in 3Q21 The Northern System 240 Mtpy Project concluded the earthworks of the 5th products stockyard and started constructing the railcar weigh scale of the 3rd loading silo. Serra Sul 120 Mtpy progressed on hiring contractors and started the vegetation clearing of the previously licensed plant site areas. The Capanema project started the civil works in the primary crusher area. Salobo III project delivered the concreting of crushing silos and secondary crushing and significant advancements to electromechanical assembly.

20 Capital projects progress indicator3 Sustaining CAPEX Investments in the maintenance of operations totaled US$ 963 million in 3Q21, US$ 34 million higher than in 2Q21, mainly due to: (i) higher sustaining investments in the Ferrous Minerals business mainly as a result of the start-up of works to increase safety factor of Torto dam project; and (ii) higher expenditures in Nacala Corridor in Coal business, which were partially offset by lower investments in Voisey’s Bay Mine Extension project, as planned in the investment program. Sustaining capex by business area US$ million 3Q21 % 2Q21 % 3Q20 % Ferrous Minerals 588 61.1 535 57.6 421 53.6 Base Metals 325 33.7 357 38.4 309 39.4 Nickel 290 30.1 325 35.0 283 36.1 Copper 35 3.6 32 3.4 26 3.3 Coal 49 5.1 36 3.9 27 3.4 Energy and others 1 0.1 1 0.1 28 3.6 Total 963 100.0 929 100.0 785 100.0 Sustaining capex by type - 3Q21 US$ million Ferrous Minerals Base Metals Coal Energy and others TOTAL Enhancement of operations 242 139 36 1 418 Replacement projects 40 138 5 - 183 Filtration and dry stacking projects 130 - - - 130 Dam management 6 4 - - 10 Other investments in dams and waste dumps 47 3 - - 50 Health and Safety 47 23 3 - 73 Social investments and environmental protection 20 4 4 - 28 Administrative & Others 56 13 1 - 71 Total 588 325 49 1 963 3 Pre-operating expenses were not included in the estimated capex for the year, although included in the total estimated capex column, in line with Vale’s Board of Directors approvals. Estimated capex for the year is only reviewed once a year. Projects Capacity (per year) Estimated start-up1 Executed capex (US$ million) Estimated capex (US$ million) Physical progress (%) 3Q21 Total 2021 Total Ferrous Minerals Project Northern System 240 Mtpy 10 Mt 2H22 37 329 229 772 86%1 Capanema 18 Mt2 2H23 5 6 47 495 4% Serra Sul 120 Mtpy3 20 Mt 2H24 50 76 168 1,502 3% Base Metals Project Salobo III 30-40 kt 2H22 107 578 329 1,056 81% 1 Considering mine-plant project front physical progress. 2 Capanema project adds 14 Mtpy capacity in Timbopeba site expedition in its first years. 3 The project consists of increasing the S11D mine-plant capacity by 20 Mtpy.

24 Debt Gross debt totaled US$ 11.951 billion as of September 30, 2021, slightly lower than June 30, 2021. Net debt position increased to US$ 2.207 billion in the same period, US$ 2.945 billion higher than 2Q21, mainly due to the US$ 7.4 billion dividend payment in September and the US$ 2.8 billion share buyback program in 3Q21, partially offset by the strong cash flow generation. Expanded net debt increased to US$ 13.881 billion as of September 30, 2021, mainly due to the increase mentioned above in net debt. Average debt maturity was 8.8 years on September 30, 2021, and the average cost of debt, after currency and interest rate swaps, was 4.62 % per annum, both in line with 2Q21. Debt indicators US$ million 3Q21 2Q21 3Q20 Gross debt ¹ 11,951 12,154 13,444 Lease (IFRS 16) 1,634 1,708 1,621 Gross debt and leases 13,585 13,862 15,065 Cash, cash equivalents and short-term investments 11,378 14,600 8,970 Net debt 2,207 (738) 6,095 Currency swaps² 786 357 1,161 Refis 2,410 2,692 2,600 Brumadinho provisions 6,213 6,646 3,124 Samarco & Renova Foundation provisions 2,265 2,491 1,485 Expanded net debt 13,881 11,448 14,465 Total debt / adjusted LTM EBITDA (x) 0.4 0.5 0.8 Net debt / adjusted LTM EBITDA (x) 0.07 (0.02) 0.44 Adjusted LTM EBITDA / LTM gross interest (x) 41.1 37.4 19.4 ¹ Does not include leases (IFRS 16). ² Includes interest rate swaps.

25 Performance of the business segments Segment information ― 3Q21, as per footnote of financial statements Expenses US$ million Net operating revenues Cost¹ SG&A and others¹ R&D¹ Pre operating & stoppage¹ Dividends and interest received from associates and JVs Adjusted EBITDA Ferrous Minerals 10,678 (3,785) (33) (55) (75) - 6,730 Iron ore fines 8,530 (3,064) (32) (53) (61) - 5,320 Pellets 2,009 (612) (2) (1) (10) - 1,384 Others ferrous 94 (76) - - - - 18 Mn & Alloys 45 (33) 1 (1) (4) - 8 Base Metals 1,574 (1,024) 51 (43) (53) - 505 Nickel² 896 (782) 57 (20) (52) - 99 Copper³ 678 (242) (6) (23) (1) - 406 Coal 352 (314) (5) (1) - - 32 Others 78 (60) (143) (37) (1) 5 (158) Subtotal 12,682 (5,183) (130) (136) (129) 5 7,109 Brumadinho impact - - (161) - - - (161) COVID-19 donations - - (10) - - - (10) Total 12,682 (5,183) (301) (136) (129) 5 6,938 ¹ Excluding depreciation, depletion and amortization. ² Including copper, by-products from our nickel operations and marketing activities. ³ Including by-products from our copper operations.

29 Costs IRON ORE COGS - 2Q21 x 3Q21 Variance drivers US$ million 2Q21 Volume Exchange rate Others Total variation 3Q21 C1 cash costs 1,479 13 8 29 50 1,529 Freight 925 17 - 135 152 1,077 Distribution costs 80 1 - 1 2 82 Royalties & others 332 3 - 41 44 376 Total costs before depreciation and amortization 2,816 34 8 206 248 3,064 Depreciation 312 3 4 (31) (24) 287 Total 3,128 37 11 175 224 3,351 Vale’s C1 cash cost ex-third-party purchases totaled US$ 18.1/t, increasing US$ 0.3/t from 2Q21 as a result of (i) consumption of inventories with higher average production costs in 2Q21; (ii) higher service costs; and (iii) negative effect of foreign exchange, which were partially offset by (i) higher dilution of fixed cost as a result of production increase, particularly in the Northern System; and (ii) lower demurrage cost with performance improvement at Ponta da Madeira Terminal, after the maintenance carried out in 1H21. As disclosed in 2Q21 Performance Report, Vale expects C1 costs ex-third-party purchases for 4Q21 (vs. 2Q21) to decrease around US$ 1.5/t, mainly due to higher dilution of fixed costs and normalization of demurrage costs. Third-party purchases are usually priced with one month lag. As a result, despite the drop in average iron ore price in 3Q21, Vale’s average third-party purchase C1 cash cost increased from US$ 78.6/t in 2Q21 to US$ 81.9/t in 3Q21 as the 62% Fe benchmark index averaged US$ 195/t between June-August vs. US$ 184/t between March-May. In 4Q21, Vale expects a reduction of third-party purchase costs if prices persist at October’s levels. C1 cash cost variation (excluding 3rd party purchases) – US$/t (3Q21 x 2Q21)

31 Expenses - iron ore fines US$ millions 3Q21 2Q21 3Q20 Selling 19 17 13 R&D 53 43 31 Pre-operating and stoppage expenses 61 74 121 Brumadinho stoppage expenses 49 61 102 Others 12 13 19 Other expenses 13 44 38 Total expenses 146 178 203 Iron ore pellets Adjusted EBITDA for pellets was US$ 1.384 billion in 3Q21, only 4% lower than in 2Q21, despite the lower 65%Fe price index (19% lower vs. 2Q21) and higher freight costs, which was offset by higher volumes, the positive effect of lagged prices and higher contractual premiums. Realized prices in 3Q21 averaged US$ 249.9/t, decreasing only US$ 4.8/t vs. 2Q21. The sharply lower 65% Fe price index was almost totally offset by the positive effect from pricing mechanisms, as pellet sales are predominantly linked to lagged prices (43% in 3Q21). FOB pellets sales of 5.1 Mt in 3Q21, representing 63% of total pellets sales, were in line with 2Q21. CFR pellets sales amounted to 2.9 Mt in 3Q21. Costs totaled US$ 612 million (or US$ 694 million with depreciation charges) in 3Q21. Excluding the impact of higher sales volumes of US$ 30 million, costs, considering FX variation, increased by US$ 62 million when compared with 2Q21, mainly due to higher leasing costs, as a result of higher premiums, and higher freight costs. Pellets - EBITDA 3Q21 2Q21 US$ million US$/wmt US$ million US$/wmt Net revenues / Realized price 2,009 249.9 1,947 254.7 Dividends received (Leased pelletizing plants) - - 22 2.9 Cash costs (Iron ore, leasing, freight, overhead, energy and other) (612) (76.1) (520) (68.0) Pre-operational & stoppage expenses (10) (1.2) (13) (1.7) Expenses (Selling, R&D and other) (3) (0.4) 2 0.3 EBITDA 1,384 172.2 1,438 188.0

32 Iron ore fines and pellets cash break-even5 Iron ore and pellets cash break-even landed in China¹ US$/t 3Q21 2Q21 3Q20 Vale's C1 cash cost ex-third-party purchase cost 18.1 17.8 12.5 Third party purchases cost adjustments 4.6 4.4 2.4 Vale's iron ore cash cost (ex-ROM, ex-royalties), FOB (US$ /t) 22.7 22.2 14.9 Iron ore fines freight cost (ex-bunker oil hedge) 20.2 17.7 15.7 Iron ore fines distribution cost 1.2 1.2 0.7 Iron ore fines stoppage expenses² related to Brumadinho 0.7 0.9 1.6 Iron ore fines expenses² & royalties 7.1 6.7 4.5 Iron ore fines moisture adjustment 4.5 4.2 3.3 Iron ore fines quality adjustment (1.9) (3.0) (3.7) Iron ore fines EBITDA break-even (US$/dmt) 54.6 49.9 37.0 Iron ore fines pellet adjustment (4.6) (5.4) (0.9) Iron ore fines and pellets EBITDA break-even (US$/dmt) 49.9 44.5 36.1 Iron ore fines sustaining investments 8.1 7.5 5.8 Iron ore fines and pellets cash break-even landed in China (US$/dmt) 58.0 52.0 41.9 ¹ Measured by unit cost + expenses + sustaining investment adjusted for quality ² Net of depreciation and includes dividends received Volume sold by destination – Iron ore and pellets ‘000 metric tons 3Q21 2Q21 3Q20 Americas 9,135 9,939 7,663 Brazil 7,666 7,633 5,639 Others 1,469 2,306 2,024 Asia 60,020 56,381 60,833 China 47,350 45,142 50,448 Japan 7,337 6,054 5,314 Others 5,333 5,185 5,071 Europe 4,722 6,215 3,104 Germany 1,096 825 468 France 625 1,539 591 Others 3,001 3,851 2,045 Middle East 486 1,566 1,616 Rest of the World 1,518 765 1,017 Total 75,881 74,866 74,233 Selected financial indicators - Ferrous Minerals US$ million 3Q21 2Q21 3Q20 Net Revenues 10,678 14,297 8,684 Costs¹ (3,785) (3,446) (2,599) Expenses¹ (33) (59) (53) Pre-operating and stoppage expenses¹ (75) (91) (146) R&D expenses (55) (44) (32) Dividends and interests on associates and JVs - 22 2 Adjusted EBITDA 6,730 10,679 5,856 Depreciation and amortization (412) (455) (403) Adjusted EBIT 6,318 10,224 5,453 Adjusted EBIT margin (%) 59.2 71.5 62.8 ¹ Net of depreciation and amortization 5 Does not include the impact from the iron ore fines and pellets pricing system mechanism.

34 Base Metals Base Metals adjusted EBITDA6 was US$ 505 million in 3Q21, US$ 361 million lower than 2Q21 The lower EBITDA in the quarter was mainly due to: Effects of labor disruption at Sudbury on nickel sales volumes and nickel by-products credits, primarily copper and PGM. Lower copper realized prices, mainly due to provisional price adjustments. These effects were partially offset by: Higher nickel realized prices, mainly due to higher LME nickel prices. Higher copper sales volumes in South Atlantic, as a result of the production volume increase in Sossego. Base Metals EBITDA overview – 3Q21 US$ million North Atlantic PTVI (site) Onça Puma Sossego Salobo Others Subtotal Base Metals Marketing activities Total Base Metals Net Revenues 611 271 87 248 430 (189) 1,458 116 1,574 Costs (635) (145) (55) (83) (159) 165 (912) (112) (1,024) Selling and other expenses 55 - (2) (3) - 1 51 - 51 Pre-operating and stoppage expenses (51) - - - (1) (1) (53) - (53) R&D (18) (1) - (8) - (16) (43) - (43) EBITDA (38) 125 30 154 270 (40) 501 4 505 6 VNC site results are not reported as part of Base Metals results. Previous Base Metals results were restated to reflect this change. Results from VNC site are being accounted for as “Other” in the Segment Information.

35 Average prices US$/ metric ton 3Q21 2Q21 3Q20 Nickel - LME 19,125 17,359 14,210 Copper - LME 9,372 9,700 6,519 Nickel - realized prices 18,211 17,183 15,824 Copper - realized prices¹ 8,187 9,653 6,268 Gold (US$/oz) 1,798 1,708 2,177 Silver (US$/oz) 24.15 25.05 22.53 Cobalt (US$/t) 56,859 43,039 55,876 ¹Considers Salobo and Sossego operations. Nickel operations Nickel operations, excluding marketing activities – EBITDA by operation US$ million 3Q21 2Q21 3Q20 North Atlantic operation¹ (38) 317 294 PTVI 125 72 85 Onça Puma 30 35 1 Others² (22) 5 32 Total 95 429 412 ¹ Includes the operations in Canada and in the United Kingdom. ² Includes the PTVI, intercompany sales eliminations, purchase of finished nickel. Hedge results have been relocated to each nickel business operation. North Atlantic operations’ EBITDA was lower in 3Q21 as a result of the labor disruption in Sudbury, which caused (i) stoppage expenses, (ii) lower by-products credits and (iii) lower nickel sales volumes. Higher nickel realized prices partially offset those effects. PTVI’s EBITDA was higher in 3Q21 due to (i) higher sales volumes and realized prices and (ii) higher dilution of fixed costs and lower maintenance costs. Onça Puma’s EBITDA was lower in 3Q21 mainly due to higher costs as a result of the extended maintenance during the quarter, as previously scheduled. Higher nickel realized prices partially offset this. Nickel Revenue and Realized Price Net operating revenue by product - Nickel operations, excluding marketing activities US$ million 3Q21 2Q21 3Q20 Nickel 761 815 794 Copper 9 173 129 Gold as by-product 2 18 27 Silver as by-product 1 8 7 PGMs¹ (20) 169 155 Cobalt 31 24 19 Others (4) 21 4 Total 780 1,228 1,135 ¹ In 3Q21, PGMs revenue was impacted by negative provisional price adjustments along with lower sales volumes.

36 Volume sold - Nickel operations ‘000 metric tons 3Q21 2Q21 3Q20 Nickel¹ 42 47 50 Upper Class I 23 26 15 Lower Class I nickel 6 8 20 Class II nickel 9 10 12 Intermediates 4 3 5 VNC eliminations² - - (2) Copper 3 18 18 Gold as by-product ('000 oz) 1 11 14 Silver as by-product ('000 oz) 34 333 367 PGMs ('000 oz) 11 69 60 Cobalt (metric ton) 538 568 333 ¹ Nickel sales volumes were adjusted in the financial report to reflect VNC divestment ² Volumes associated with revenues from VNC that are accounted for as Other in segment information. Nickel realized price in 3Q21 increased 6.0% from 2Q21 mainly due to 10% higher LME nickel average price, which was partially offset by the negative impact of timing and pricing adjustments. Premiums / discount by nickel product US$/t 3Q21 2Q21 3Q20 Upper Class I nickel 790 820 1,080 Lower Class I nickel 200 170 70 Class II nickel (770) (760) (330) Intermediates (4,410) (4,040) (2,700) Product type by operation % of source sales North Atlantic PTVI Onça Puma Total 3Q21 Total 2Q21 Upper Class I 68.3% 0% 0% 54.0% 54% Lower Class I 26.9% 0% 0% 14.5% 17% Class II 4.5% 46% 100% 22.2% 21% Intermediates 0.3% 54% 0% 9.3% 8% Other timing and pricing adjustments had an aggregate negative impact of US$ 794/t in 3Q21, due to (i) the Quotational Period effects (based on sales distribution in the prior three months, as well as the differences between the LME price at the moment of sale and the LME average price), with an impact of negative US$ 200/t , (ii) fixed-price sales, with an impact of negative US$ 134/t (iii) the effect of the hedging on Vale’s nickel price realization, with a negative impact of US$ 457/t7 in the quarter and (iv) other effects, of negative US$ 3/t. 7In October 2020, Vale decided to execute new hedge operations, continuing the Nickel Revenue Hedging Program to provide stable cash generation during a period of significant investments. As of September 30th, 2021, the average strike price for the collar position was US$ 15,000/t for the put options and US$ 17,505/t for the call options. Nickel realized price US$/t 3Q21 2Q21 3Q20 LME average nickel price 19,125 17,359 14,210 Average nickel realized price 18,211 17,183 15,824 Contribution to the NRP by category: Nickel average aggregate premium (120) 0 0 Other timing and pricing adjustments contribution (794) (176) 1,614

37 Nickel Costs and Expenses Nickel COGS, excluding marketing activities - 2Q21 x 3Q21 Variance drivers US$ million 2Q21 Volume Exchange rate Others Total variation 3Q21 Nickel operations 696 (67) (11) 52 (26) 670 Depreciation 230 (3) (4) (96) (103) 127 Total 926 (70) (15) (44) (129) 797 Nickel operations – unit cash cost of sales, net of by-product credits US$/t 3Q21 2Q21 3Q20 North Atlantic operations¹ 19,871 5,840 8,040 PTVI 7,813 8,492 6,291 Onça Puma 10,928 8,248 12,078 ¹ North Atlantic figures include Clydach refining costs. Unit cash cost in North Atlantic operations were significantly impacted by the labor disruption at Sudbury, as the lower volumes impacted fixed costs dilution. Selling expenses and other expenses totaled a revenue of US$ 57 million in 3Q21, mainly due to the reversal of provisions (US$ 59 million). Pre-operating and stoppage expenses totaled US$ 52 million, mainly due to the labor disruption at our Sudbury operations (US$ 51 million). R&D expenses were US$ 20 million in 3Q21, slightly higher than 2Q21. These expenses encompass R&D initiatives for further operational improvements in North Atlantic. EBITDA break-even – nickel operations8 8 Considering only the cash effect of US$ 400/oz that Wheaton Precious Metals pays for 70% of Sudbury’s gold by-product, nickel operations EBITDA break-even would increase to US$ 16,102/t.

38 Selected financial indicators - Nickel operations, excluding marketing activities US$ million 3Q21 2Q21 3Q20 Net Revenues 780 1,228 1,135 Costs¹ (670) (696) (693) Expenses¹ 57 (25) (26) Pre-operating and stoppage expenses¹ (52) (60) - R&D expenses (20) (18) (4) Adjusted EBITDA 95 429 412 Depreciation and amortization (145) (230) (233) Adjusted EBIT (50) 199 179 Adjusted EBIT margin (%) (6.4) 16.2 15.8 ¹ Net of depreciation and amortization Copper operations – Salobo and Sossego Copper – EBITDA by operation US$ million 3Q21 2Q21 3Q20 Salobo 270 351 287 Sossego 154 100 104 Others Copper¹ (18) (15) (10) Total 406 436 380 ¹ Includes research expenses related to the Hu’u project. Salobo’s EBITDA decreased in 3Q21 compared to 2Q21 mainly due to lower copper realized price and higher unit cost due to a corrective maintenance at the site. Sossego’s EBITDA in 3Q21 increased compared to 2Q21 mainly due to higher sales volumes and higher fixed cost dilution as maintenance activities at SAG9 and ball mills were finished in 2Q21. Copper revenue and realized price Net operating revenue by product - Copper operations US$ million 3Q21 2Q21 3Q20 Copper 510 538 390 Gold as by-product 164 145 192 Silver as by-product 4 5 5 Total 678 688 587 Volume sold - Copper operations ‘000 metric tons 3Q21 2Q21 3Q20 Copper 62 56 62 Gold as by-product ('000 oz) 91 84 86 Silver as by-product ('000 oz) 176 188 193 9 SAG mill – Semi-autogenous grinding mill

39 Price realization – copper operations Vale’s copper products are sold on a provisional pricing basis10 during the quarter, with final prices determined in a future period, generally one to four months forward. Current period price adjustments: at the end of the quarter, mark-to-market of open invoices based on the copper price forward curve11 Prior period price adjustment: based on the difference between the price used in final invoices (and in the mark-to-market of invoices from previous quarters still open at the end of the quarter) and the provisional prices used for sales in prior quarters TC/RCs, penalties, premiums and discounts for intermediate products The negative effects of the current period price adjustments of US$ 389/t, and prior period price adjustments of US$ 358/t were mainly due to the forward price steadily declining during the third quarter. Copper Costs and Expenses Salobo unit cash costs after by-products have increased mainly due to the impact of corrective maintenance and lower fixed costs dilution, still in the positive territory. Sossego unit cash cost has decreased due to higher fixed cost dilution following the maintenance at both SAG and ball mills in 2Q21 and reached a unit cash cost level below US$2,000/t in 3Q21. Copper COGS - 2Q21 x 3Q21 Variance drivers US$ million 2Q21 Volume Exchange rate Others Total variation 3Q21 Copper operations 229 33 2 (22) 13 242 Depreciation 41 27 - (31) (4) 37 Total 270 60 2 (53) 9 279 10 On September 30th, 2021, Vale had provisionally priced copper sales from Sossego and Salobo totaling 88,665 tons valued at an LME forward price of US$ 9,061/t, subject to final pricing over the following months. 11 Includes a small number of final invoices that were provisionally priced and settled within the quarter.

41 Coal Adjusted EBITDA for the Coal business segment improved significantly and reached break-even, totaling US$ 32 million in 3Q21, US$ 196 higher than in 2Q21. September EBITDA reached US$ 43 million after improving but still negative EBITDA of US$ 9 million in July and negative US$ 2 million in August. The better result was mainly driven by higher net revenues (US$ 191 million). Revenue and price realization The higher net revenues on 3Q21 were due to higher prices (US$ 74 million) and higher sales volumes (US$ 117 million), with the continuing ramp-up of Moatize, expected to be concluded in 4Q21. The average realized price for coking coals was US$ 193.2/t. The higher market prices (91.8% vs. 2Q21) were partially offset mainly by the effect of lagged prices which represented 71% of sales this quarter. We expect higher realized prices in 4Q21, following lagged sales at higher prices, closer to the current market levels. The average realized price for thermal coals was US$ 81.3/t. The higher market prices (32% vs. 2Q21) were partially offset by the effect of lagged prices mainly in spot deals which represented 50% of sales this quarter and by the hedge program impact fixed with an average strike price of US$ 105/t-US$108/t. Volume sold ‘000 metric tons 3Q21 2Q21 3Q20 Metallurgical coal 1,150 713 809 Thermal coal 1,490 831 572 Total 2,640 1,544 1,381 Net operating revenue by product US$ million 3Q21 2Q21 3Q20 Metallurgical coal 222 99 76 Thermal coal 122 60 27 Total¹ 352 161 103 ¹ It includes US$ 8 million of general cargo in 3Q21 and US$ 2 million in 2Q21 Coal prices US$/ metric ton 3Q21 2Q21 3Q20 Metallurgical coal index price¹ 263.7 137.5 114.8 Vale’s metallurgical coal realized price 193.2 139.7 93.8 Thermal coal index price² 138.7 104.7 55.4 Vale’s thermal coal realized price 81.3 72.4 47.0 Vale’s average realized price 130.1 103.5 74.4 ¹ Reference price Premium Low Vol Hard Coking Coal FOB Australia. ² McCloskey FOB Richards Bay

45 Balance sheet US$ million 9/30/2021 6/30/2021 9/30/2020 Assets Current assets 19,991 25,403 17,544 Cash and cash equivalents 10,857 13,649 8,845 Short term investments 521 951 125 Accounts receivable 873 4,954 3,014 Other financial assets 1,366 214 454 Inventories 5,085 4,701 4,329 Recoverable taxes 824 668 474 Others 405 266 303 Non-current assets held for sale 60 - - Non-current assets 14,790 14,235 15,799 Judicial deposits 1,221 1,326 2,040 Other financial assets 162 1,430 2,472 Recoverable taxes 1,322 1,440 1,071 Deferred income taxes 11,402 9,338 9,610 Others 683 701 606 Fixed assets 52,099 57,078 46,638 Total assets 86,880 96,716 79,981 Liabilities Current liabilities 16,074 14,335 10,684 Suppliers and contractors 4,096 3,777 3,099 Loans, borrowings and leases 1,345 992 1,024 Other financial liabilities 1,557 1,547 1,782 Taxes payable 2,594 1,678 807 Settlement program (REFIS) 330 356 313 Provisions 1,176 1,156 1,016 Liabilities related to associates and joint ventures 1,551 1,467 688 Liabilities related to Brumadinho 2,336 2,223 936 De-characterization of dams 435 454 320 Dividends and interest on capital 35 27 - Others 606 658 699 Liabilities associated with non-current assets held for sale 13 - - Non-current liabilities 36,717 40,022 36,088 Loans, borrowings and leases 12,240 12,870 14,041 Participative stockholders' debentures 4,128 4,687 2,533 Other financial liabilities 2,825 3,027 2,756 Settlement program (REFIS) 2,080 2,336 2,287 Deferred income taxes 1,928 1,985 1,635 Provisions 7,274 8,003 7,781 Liabilities related to associates and joint ventures 714 1,024 797 Liabilities related to Brumadinho 2,020 2,268 614 De-characterization of dams 1,422 1,701 1,254 Streaming transactions 1,936 1,961 2,017 Others 150 160 373 Total liabilities 52,791 54,357 46,772 Stockholders' equity 34,089 42,359 33,209 Total liabilities and stockholders' equity 86,880 96,716 79,981

47 REVENUES, VOLUMES SOLD, PRICES AND MARGINS Net operating revenue by destination US$ million 3Q21 % 2Q21 % 3Q20 % North America 387 3.1 578 3.5 283 2.6 USA 345 2.7 449 2.7 278 2.6 Canada 42 0.3 129 0.8 5 0.0 South America 1,846 14.6 1,780 10.7 862 8.0 Brazil 1,580 12.5 1,531 9.2 717 6.7 Others 266 2.1 249 1.5 145 1.3 Asia 8,506 67.1 11,426 68.5 7,800 72.5 China 5,673 44.7 8,976 53.8 6,416 59.6 Japan 1,451 11.4 1,082 6.5 558 5.2 South Korea 555 4.4 439 2.6 296 2.8 Others 827 6.5 929 5.6 530 4.9 Europe 1,348 10.6 2,191 13.1 1,400 13.0 Germany 350 2.8 617 3.7 441 4.1 Italy 159 1.3 231 1.4 58 0.5 Others 839 6.6 1,343 8.1 901 8.4 Middle East 136 1.1 456 2.7 249 2.3 Rest of the World 459 3.6 244 1.5 168 1.6 Total 12,682 100.0 16,675 100.0 10,762 100.0 Volume sold - Minerals and metals ‘000 metric tons 3Q21 2Q21 3Q20 Iron ore fines 67,304 66,740 65,607 ROM 540 479 162 Pellets 8,037 7,647 8,464 Manganese ore 111 169 428 Ferroalloys 16 15 15 Thermal coal 1,490 831 572 Metallurgical coal 1,150 713 809 Nickel 42 47 50 Copper 65 74 81 Gold as by-product ('000 oz) 92 95 100 Silver as by-product ('000 oz) 210 522 560 PGMs ('000 oz) 11 69 60 Cobalt (metric ton) 538 568 333

48 Average realized prices US$/ton 3Q21 2Q21 3Q20 Iron ore fines Vale CFR reference (dmt) 142.5 202.0 123.1 Iron ore fines Vale CFR/FOB realized price 126.7 182.8 112.1 Pellets CFR/FOB (wmt) 249.9 254.7 141.2 Manganese ore 163.9 171.8 85.3 Ferroalloys 1,792.3 1,508.1 968.2 Thermal coal 98.6 72.4 47.0 Metallurgical coal 193.2 139.7 93.8 Nickel 18,211 17,183 15,824 Copper¹ 7,933 9,590 6,441 Gold (US$/oz) 1,798 1,708 2,177 Silver (US$/oz) 24.15 25.05 22.53 Cobalt (US$/t) 56,859 43,039 55,876 ¹Considers Salobo, Sossego and North Atlantic operations. Operating margin by segment (EBIT adjusted margin) % 3Q21 2Q21 3Q20 Ferrous Minerals 59.2 71.5 62.8 Base Metals 20.5 26.4 31.3 Coal (5.4) (112.4) (206.8) Total 49.2 61.1 49.4 RECONCILIATION OF IFRS AND “NON-GAAP” INFORMATION (a) Adjusted EBIT US$ million 3Q21 2Q21 3Q20 Net operating revenues 12,682 16,675 10,762 COGS (5,836) (5,805) (4,816) Sales and administrative expenses (115) (133) (127) Research and development expenses (136) (141) (105) Pre-operating and stoppage expenses (165) (191) (188) Brumadinho event (161) (185) (114) Other operational expenses, net (36) (74) (113) Dividends received and interests from associates and JVs 5 43 22 Adjusted EBIT 6,238 10,189 5,321 (b) Adjusted EBITDA EBITDA defines profit or loss before interest, tax, depreciation, depletion and amortization. The definition of Adjusted EBITDA for the Company is the operating income or loss plus dividends received and interest from associates and joint ventures, and excluding the amounts charged as (i) depreciation, depletion and amortization and (ii) impairment and disposal of non-current assets. However, our adjusted EBITDA is not the measure defined as EBITDA under IFRS and may possibly not be comparable with indicators with the same name reported by other companies. Adjusted EBITDA should not be considered as a substitute for operational profit or as a better measure of liquidity than operational cash flow, which are calculated in accordance with IFRS. Vale provides its adjusted EBITDA to give additional information about its capacity to pay debt, carry out investments and cover working capital needs. The following tables shows the reconciliation between adjusted EBITDA and operational cash flow and adjusted EBITDA and net income, in accordance with its statement of changes in financial position. The definition of Adjusted EBIT is Adjusted EBITDA plus depreciation, depletion and amortization.