VALE Vale SA

2 Disclaimer “This presentation may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about the future involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, 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; (e) global competition in the markets in which Vale operates; and (f) the estimation of mineral resources and reserves, the exploration of mineral reserves and resources and the development of mining facilities, our ability to obtain or renew licenses, the depletion and exhaustion of mines and mineral reserves and resources. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports 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 presentation that are not proven or probable reserves, as defined by SEC Industry Guide 7, and we cannot assure you that these materials will be converted into proven or probable reserves, as defined by SEC Industry Guide 7. Starting in its next annual report on Form 20-F, Vale will comply with Subpart 1300 of Regulation S-K, which will replace SEC Industry Guide 7. Subpart 1300 of Regulation S-K permits mining companies, in their filings with the SEC, to disclose “mineral reserves”, “mineral resources” and “exploration targets” that are based upon and accurately reflects information and supporting documentation of a qualified person. We present certain information in this presentation that are not based upon information or documentation of a qualified person, and that will not be permitted in an SEC filing under Subpart 1300 of Regulation S-K. These materials are not mineral reserves, mineral resources or exploration targets, as defined by the SEC, and we cannot assure you that these materials will be converted into mineral reserves, mineral resources or exploration targets, as defined by the SEC. U.S. Investors should consider closely the disclosure in our Annual Report on Form 20-K, which may be obtained from us, from our website or at http://http://us.sec.gov/edgar.shtml.”

3 Our Strategic Pillars remain solid Vale Day 2021 New pact with society Safety and operational excellence Base Metals transformation Discipline in capital allocation Maximize flight-to-quality in Iron Ore Vale engineer Maria Aparecida Pinho Martins, Gelado Program, Parauapebas (PA), Brazil

4 Reparation, People & Safety Eduardo Bartolomeo, CEO Carlos Medeiros, Executive Vice President Safety and Operational Excellence 1

5 We will never forget Brumadinho “Sowing Hope” Project for emotional support to affected people

8 Boosting changes for a talent-driven, inclusive organization Our targets 66% 33% reduction in women voluntary turnover of black trainees hired in the 2021 program 80% additional women in the workforce² +4,500 increase in senior female leaders 80% managers active in culture transformation1 99% critical roles with successors mapped 40% leadership roles in Brazil occupied by black employees by 2026 26% of women’s workforce representation anticipated to 2025 (from 2030) Currently at 18.7% (vs 13.5% in 2019) 1 Reparation, People & Safety ¹ Expected to achieve 95% by December 2021. ² December 2019 to November 19, 2021.

9 Cultural transformation monthly assessed to ensure progress Echoes Pulse – Employees' perception of key behaviors +16,000 employees take part of Echoes Pulse 82% 85% +3 Obsession with safety and risk management Active listening and engagement with society Ownership for the whole Empowerment with accountability Open and transparent dialogue 64% 71% +7 65% 70% +5 61% 67% +6 68% 62% +6 Pulse 1 (Dec 2020) Pulse 2 (Sep 2021) 1 Reparation, People & Safety

10 Cultural transformation is supported by Vale’s management model

17 Vale will comply with the Global Industry Standard for Tailings Management Vale Industry . The GISTM is launched, based on 15 principles (Aug 2020) . The 77 auditable requirements for adherence are made public (May 2021) . All tailings facilities with “Extreme” or “Very high” potential consequences must be compliant by Aug 2023 . All tailings facilities not in a state of safe closure must be compliant by Aug 2025 . 1st self- assessment based on the principles (Sep 2020) ~60% adherence¹ . Gap-assessment based on the conformance protocol (Nov 2021) ~90% adherence (target)² ³ . External audit . Gap treatment 2020 2021 2022 2023 2025 . In line with the industry commitment 1 Reparation, People & Safety ¹ Based on the results of the self-assessment conducted in 2021, which had the 77 auditable requirements as main source. ² Based on the external audit results. Structures held by joint-ventures are not included. ³ Considering tailings facilities with “Extreme” or “Very high” potential consequences.

18 New Pact with Society Eduardo Bartolomeo, CEO Luciano Siani Pires, Executive Vice President Strategy and Business Transformation 2

19 . 2030 agenda revised . Industry leader renewable energy . Scope 1, 2 and 3 targets . Non-GHG targets Environmental . Climate Change report . ISO 14001 certification (ongoing) 2 Leveling up ESG practices . +300 community relationship plans under execution . Formal Human Rights Due Diligence Process . Increasing female workforce . Social ambition Social . Independent Board majority, including Chairman . Nomination Committee . CCO and Audit Committee . ESG Gaps Action Plan . Compensation based on ESG targets Governance 2019 2022 New Pact with Society

20 Click here to watch a video

21 We have defined our social ambition... . Education . Health . Income Generation Resilient communities . Human Rights (including Indigenous Peoples) . Amazon Global causes “To be a partner company in the development of resilient communities, engaged in relevant issues to humanity and committed to sustainable mining” For details of our social goals, please visit www.vale.com/esg . Be a good neighbor . Create Social Value Sustainable mining 2 New Pact with Society

22 … and our 2030 Social Goals Resilient communities Lift 500,000 people out of extreme poverty¹ Indigenous Peoples Indigenous communities neighboring Vale operations with UNDRIP2 rights plans Sustainable Mining Rank Top 3 in the social requirements of the main external assessments 2 New Pact with Society ¹ People living with less than US$1.95 per day, as per the World Bank. ² United Nations Declaration on the Rights of Indigenous Peoples.

23 We are in line to transform the future Reduce scope 1 and 2 emissions by 33% by 2030¹ 100% renewable electricity Brazil (2025), globally (2030) Forests recover and protect +500,000 ha (2030) Net zero scope 1 and 2 emissions by 2050 Reduce Scope 3 net emissions by 15% by 2035² Fresh water reduce uptake by 10% (2030) . Briquettes plants under construction . ~90% renewable electricity globally and ~240 MW3 from solar/wind projects . +120,000 ha of forests protected by the end of in 20214, totaling 1.1 million ha, ~80% in the Amazon . 80% of water reuse in our processes 2 New Pact with Society ¹ Baseline 2017: 14.1 Mt CO2 eq. Target 2030: 9.5 Mt CO2 eq. ² Baseline 2018. ³ Sol do Cerrado Solar Power and Folha Larga Sul wind project, share of production destined to Vale or its subsidiaries once operaitng. 4 Up to October 2021. Our progress:

26 Our low carbon agenda advances Vale Zoo and Botanical Park Parauapebas (PA), Brazil

29 Maximize flight-to-quality in Iron Ore Marcello Spinelli, Executive Vice President Iron Ore 3

30 New way to operate Tailings filtration plant Vargem Grande Complex

31 New projects to reduce the reliance on tailings dams Iron ore production by method Mt Dry processing additions Implement tailings filtration plants Dry processing additions Develop dry concentration solutions 300 ~15% ~70% 40% 400 2015 ~1% 73% 58% 2018 2020 400 Mtpy production level1 346 385 Dry concentration Wet processing with tailings filtration Wet processing Dry processing Dry processing additions Dry tailings used as co-products Dry processing additions Increase dry processing production Northern System 240 Mtpy2 Serra Norte Usina 1 conversion3 Capanema project4 Blending strategy Maximize flight-to-quality in Iron Ore 3 Lower tailings dam exposure 1 Considers a time horizon after the implementation of the highlighted initiatives. The production method share over the years will depend on assets availability and production plan. 2 Northern System includes Serra Norte, Serra Leste and S11D operations. 3 Usina 1 partially operates today by wet processing, which is expected to be converted to dry processing in 2025. 4 18 Mtpy capacity project by natural moisture with start-up expected in 2H23. Net addition capacity of 14 Mtpy in the first years. 85%

32 Delivering tailings filtration plants: more quality, fewer dams US$ 1.2 billion invested in 2019-21 US$ 1.3 billion to be invested in 2022-25 Maximize flight-to-quality in Iron Ore 3 Note: Includes investments in tailings stockpiles. Physical progress as of October 30th, 2021. 2nd phase of each project is expected to start-up in the following quarter.

33 Click here to watch a video

34 Dry concentration: more quality, no water, no dams Dry concentration capacity Mtpy 1.5 9.5 8.5 6.0 2.0 Vargem Grande Fazendão Fábrica Dry concentration capacity Oman (PF cleaner)2 Expected approval 2023 Expected approval 2023 Expected approval 2022 Start-up 2023 Under construction Under evaluation Magnetic separation: proprietary technology Final products with up to 68% Fe1 Potentially integrated with other process routes Modular design Maximize flight-to-quality in Iron Ore 3 1 Final products depend on ROM quality. 2 Project to improve pellet feed (“PF”) quality to supply direct reduction pellets production. Dry magnetic concentration pilot plant Vale’s Ferrous Technological Center

36 Extended supply chain services delivering value for clients . >75% of sales under CFR model with most volumes being transported in large vessels . Reduced exposure to spot market with long- term affreightment contracts . 17 ports in China and 2 distribution centers in Malaysia and Oman . Solutions for just in time products and logistics efficiency . Pre-blending . Partnership to develop 20 Mtpy of strategic port capacity in Shulanghu port (West III project)1 . Valemax vessels unloading in more 3 ports in China in 2021 and 2 more expected for 2H22, totaling 9 ports . Developing grinding capacity to produce GF882 in the mid term . Capturing the growing demand of pellet feed in China . Development of beneficiation capacity in China to concentrate products . Supply the Chinese construction industry with sand (co-product) Freight service Blending strategy Ports’ partnerships Grinding facilities Concentration facilities Maximize flight-to-quality in Iron Ore 3 1 The West III project consists in expanding the Shulanghu Port facilities, developing a stockyard and loading berths with additional 20 Mtpy capacity. By participating in the project, Vale will secure a total port capacity of 40Mtpy in Shulanghu, which will help Vale to optimize its overall supply chain costs. 2 Pellet feed production using ground IOCJ.

37 Vale will reach 400 Mtpy capacity in the medium term with its new way to operate… Capacity (Mtpy) Long term Vale Day 2021 Medium term Northern System 240-260 203 215 205 End of 2022 Southeastern System 110-120 70 113 93 Southern System 70-85 65 69 69 Midwestern System 3 3 3 3 400-450 341 400 370 Vale Day 2020 206 61 51 2 320 Main deliveries in 2022 Quality Capacity 1H22 S11D: jaspilite crushers installation 2H22 S11D: Project +10 Mtpy 2H22 Serra Norte: Gelado project 1Q22 Brucutu/Itabira: tailings filtration plants start-up 4Q22 Itabira: Itabiruçu dam raising and new tailing stockpile 4Q22 Brucutu: Torto dam start-up Maximize flight-to-quality in Iron Ore 3

38 … and value over volume approach will continue defining production and sales strategy 300 2020 2021E 315-320 320-335 2022E Iron ore production Mt 63.6% 62.9% 63.5% Iron ore sales Fe content (%)1 Maximize flight-to-quality in Iron Ore 3 Higher Fe content Value over volume strategy 1 Considers sales in the seaborne market and in Brazil, including iron ore pellets

39 Best in class portfolio supporting industry decarbonization S11D mine second stockyard S11D, Carajás (PA), Brazil

40 Beyond enhancing quality, we are delivering solutions to improve Vale’s portfolio Dry concentration Enabling the production of up to 68% Fe content from low Fe ROM Direct charge products Leading world’s pellets and green briquettes production Increasing Northern System high-quality production to deliver IOCJ, BRBF and GF88 High-quality ores Asset light solutions Working with partners on an asset light platform to supply low-CO2 solutions CO2 90% 2021 Future 83% Premium products2 >64% 2021 Future 62.9% Fe content1 >100 Mt 2021 Future ~40 Mt Direct charge products3 Maximize flight-to-quality in Iron Ore 3 1 Considers sales in the seaborne market and in Brazil, including iron ore pellets. 2 Includes IOCJ, BRBF, pellets, briquettes and pellet feed. 3 Includes briquettes, pellets and lumps.

41 Green briquette is a breakthrough environmentally friendly solution Exclusive technology 18 years of in-house R&D Technology patented1 in 47 countries Blast furnaces: reduction of over 10% in BF-BOF route2 Direct reduction furnaces: capacity to supply the increasing demand Less CO2 emissions Briquettes capacity Mtpy 6.0 Vargem Grande >50 Other plants 0.75 Tubarão 1&2 Briquettes capacity3 Start-up 2023 Start-up 2023 Under construction Under evaluation Maximize flight-to-quality in Iron Ore 3 US$ 0.5-1.0 billion of potential incremental EBITDA over sinter feed3 1 Patented or in submission process. 2 Considering the substitution of sintering process in steelmaking plants. 3 Estimates figures subject to feasibility studies, internal approvals and market conditions. Potential EBITDA estimates updated in response to customer feedback. Green briquettes

42 There are multiple ways to decarbonize and we are engaging with clients on this journey Green briquette plants Dry concentration plants Tecnored technology Metallics Burden mix optimization High-grade products usage Biocarbon usage Direct reduction technologies Potential client solutions North America MoUs¹ under discussion Brazil MoU with Ternium Brasil Others under discussion Middle East MoUs under discussion Europe MoUs under discussion China MoU with 4 clients (Baowu and Others under discussion Japan and Korea MoU with 3 clients (Hyundai Others under discussion In 2021, Vale engaged with 20 clients representing 40% of company’s scope 3 emissions Maximize flight-to-quality in Iron Ore 3 and POSCO among them) Shagang, among them) ¹ MoU stands for Memorandum of Understanding.

43 Rebuilding Vale’s competitiveness Bulk vessel with rotor sails technology

44 Capacity resumption is key to remove inefficiencies and promote cost savings… Maximize flight-to-quality in Iron Ore 3 Production costs (US$/t) Timbopeba site . 2022: 12% production increase in 2022 and normalized railway operations . Medium-term: Start-up of Capanema project in 2H23 with dry processing 27 21 15 2021 2022 Medium term -20% -29% Production costs (US$/t) Vargem Grande complex . 2022: Resumption conveyor belt in 4Q21, reducing use of trucks . Medium-term: Capacity reaching over 50 Mtpy, with fixed cost dilution 2022 2021 Medium term -5% -11% Production costs (US$/t) Brucutu site . 2022: Ramp-up of tailings filtration plants (new way to operate) and reduction of the share of dry/high- silica products, increasing costs . Medium-term: Capacity reaching over 28 Mtpy, with fixed cost dilution 2022 2021 Medium term +31% -34% Note: Production costs includes C1 cash costs and stoppage expenses.

45 Dilution of fixed costs New way to operate2 ~17 Dilution of fixed costs 2021E -0.7 -1.0 Cost efficiency1 2-3 0.5 15.5-16 2023 -1.0 -1.0 Cost efficiency1 14-15 400 Mtpy production 10.5-12 14-15 …reducing C1 cash cost level Vale’s iron ore fines C1 cash cost (ex. 3rd party purchase) US$/t Maximize flight-to-quality in Iron Ore 3 • Inflation • Drilling/ geotechnical analysis • Depletion/others Main changes from previous guidance 1 Includes the removal of inefficiencies in operations and productivity gains. 2 Tailings filtration plants, dry concentration, geotechnical analysis, drilling and others.

46 Vale has a winning shipping strategy Vale’s average freight cost 2021E3 ~27 ~16 Spot freight 2021E2 Valemax 2G/ Guaibamax 2021E ~13 ~19 Vale’s medium term freight cost3 4 Freight costs US$/t Efficient vessels 65+ Valemaxes 1G+2G / 45+ Guaibamaxes Scrubbers installed on dedicated fleet Lower bunker costs Ecoshipping program R&D portfolio including rotor sails and air lubrication Long-term affreightment contracts Majority of fleet under LTC1 with increase potential Maximize flight-to-quality in Iron Ore 3 1 Long term contract. 2 C3 Route (Tubarão-Qingdao). 3 Iron ore fines freight. 4 Includes ~US$ 2.4/t reduction related to market assumptions for spot freight and bunker fuel costs.

47 Decarbonization and portfolio improvements lead to higher premiums for Vale All-in premiums1 Market environment Vale’s portfolio US$ ~10/t 2018 . Chinese supply side reform . High steel margins . High availability of pellet feed and pellets . Flexibility to produce close to 400 Mtpy US$ ~6/t 2021 . Volatile iron ore price . High-availability of low alumina products . High coke prices . Production of high-silica products . Low pellet feed availability to produce pellets US$ 8-12/t 2023-26 . Healthy steel margins . Lower availability of low alumina products . Higher volumes from Northern System . Resumption of pelletizing capacity . Ramp-up of briquette plants US$ 12-18/t 2029+ . Carbon pricing . Transition to more direct reduction demand . Green briquettes over 50 Mtpy . Dry concentration improving quality Maximize flight-to-quality in Iron Ore 3 Note: Considering different scenarios of steel production with steel margins ranging between US$25-100/t and carbon price ranging between US$0-60/t of CO2eq. 1 Vale’s iron ore weighted average premiums for the current and future portfolio, including IOCJ, BRBF, pellets, briquettes and others, on top of 62%Fe benchmark index.

48 Altogether, Vale is rebuilding its competitiveness: capacity, value and green ~3 Iron ore price effect 2-6 ~45 Freight efficiency 2021E C1 ex-3rd party purchase ~3 ~2.5 Premium Others1 Future premiums (potential) ~35 400 Mtpy production level 30-35 400 Mtpy production level (price adjusted) 0-6 <30 Potential breakeven in a decarbonized world Vale’s iron ore fines and pellets EBITDA break-even US$/t . Normalization of spot freight rates and bunker prices . Fleet optimization (Valemax/ Guaibamax) . Pellet capacity resumption . Northern System production increase . No stoppage expenses . Dilution of expenses . Potential lower effect of prices on royalties and third- party purchase Roadmap Maximize flight-to-quality in Iron Ore 3 . Dilution of fixed costs . Removal of inefficiencies and cost savings . New way to operate . Vale’s future portfolio . Carbon pricing . Transition to more direct reduction demand 1 Includes expenses, stoppage expenses related to Brumadinho, distribution costs and moisture adjustment.

49 Base Metals transformation Mark Travers, Executive Vice President Base Metals 4 Questions? valeday2021@vale.com

50 2021 was a challenging year . Broad safety reviews and strategy to drawdown maintenance backlog to improve safety standards . Delays in maintenance at Sossego due to COVID restrictions – contractors’ mobilization . Critical maintenance activities at Sossego mill and Onça Puma furnace . 2-month labor disruption at Sudbury operations . Delays in planned maintenance related to Sudbury stoppage Base Metals Transformation 4 Remainder critical maintenance to be concluded in 2022 Continue to improve risk management and safety through Operational Excellence initiatives Sequeirinho Pit, Sossego mine Canaã dos Carajás (PA), Brazil

51 For 2022, we have key milestones in the path to performance recovery Base Metals Transformation 4 2021 2022 295-300 330-355 2022 2021 165-170 175-190 Copper production Nickel production . Stable production at North Atlantic mines . Improvement in Salobo mine movement . Planned maintenance at Sossego . Stable production at North Atlantic Mines . New projects ramp up (VBME and CCM1) . Onça Puma stabilization . PTVI furnace rebuild In kt In kt

52 Strengthening our copper portfolio in Carajás Former Igarapé Bahia Gold Mine, location of future Alemão project, Parauapebas (PA), Brazil

54 We are advancing Salobo 3 ¹ New processing plant with a nominal processing capacity of 12 Mtpy of ore. ² Life-of-mine average. Yearly production may vary as a result of mine plan. ³ Subject to feasibility studies, internal approvals and market conditions Commissioning of facilities to start in 1H22. Start up planned for 2H22 New processing plant¹ that allows to increase copper production by 30-40 ktpy² Further optionality with Salobo IV to potentially add 30 ktpy of copper³ Concluded assembly of flotation cells and energization of power substation Goldstream tail payment > US$ 500 million Plant construction, November 2021 Salobo 3 project, Carajás (PA), Brazil

55 … and taking Carajás towards growth Alemão: approaching the next big step towards Carajás growth Adding on optionality to South Hub extension Developing future growth options Progressing on Cristalino feasibility study Advancing on satellite deposits studies to provide optionality e.g., Bacaba Ongoing evaluation of South Hub expansion – new processing plant New underground mine in the former Igarapé Bahia gold mine Access to regional infrastructure Well-advanced feasibility study. Conclusion expected by the end of 2022. Adding ~60 ktpy with significant gold Extending life at ~80 ktpy¹ 70-100ktpy estimated potential Development of the North Hub to process feed from northern deposits Close to Salobo – synergies with some of the existing infrastructure 60km of drilling completed YTD² ³ GROWTH REPLACEMENT WITH OPTIONALITY GROWTH Satellite view of North Hub area Sossego Mill Igarapé Bahia Mine – location of future Alemão project Base Metals Transformation 4 1 Life-of-mine average. 2 Year-to-date: January-November 2021. 3 Comprising Paulo Afonso, Pojuca, Grota Funda and Gameleira.

56 Developing a world-class copper discovery: Hu’u Project Base Metals Transformation 4 Completion of the assessment of alternatives for the pre-feasibility study¹ Onto deposit estimated to contain 17.4 Mt of copper and 32 Moz of gold in resources². Equates to an increase of ~15% in contained copper since February 2020³ Copper production estimated at 300-350 ktpy during peak production with a predicted mine life of >45 years Expect to conclude the pre-feasibility study in 2024 Note: Hu’u is 100% owned by PT Sumbawa Timur Mining (STM), an Indonesian private joint-venture company owned by Eastern Star Resources Pty Ltd (80%) and PT Aneka Tambang (20%). Eastern Star Resources Pty Ltd is 100% owned by Vale. 1 Delivered an Assessment of Alternatives for the planned Final Pre-feasibility Study. At this time, a block cave mine with conventional mill & flotation circuit and associated infrastructure will be further studied in the final phase of the pre-feasibility study. 2 1.1Bt Indicated Resources @ 0.96% Cu and 0.58g/t Au containing 10 Mt Cu and 20 Moz Au and 1.0Bt Inferred Resources @ 0.74% Cu and 0.37g/t Au containing 7.4 Mt Cu nd 12 MoztAu . 3 Mineral Resource Estimate Statement (19 February 2020) Core Shed Hu’u project, Indonesia

57 Progressing on project development… Pre-feasibility FEL 2 Feasibility FEL 3 South Hub Ext.: Cristalino 80 ktpy South Hub Extension: Cristalino Alemão +60 ktpy 2019-20 2021 North Hub +70-100 ktpy Alemão Investment Decision 2022-23 2023 South Hub Extension¹ Other satellites Scoping FEL 1 2024+ 2026+ Hu’u 300-350 ktpy 2028+ Hu’u REPLACEMENT GROWTH Base Metals Transformation 4 Victor JV 20 ktpy² 2023 South Hub Expansion +30-40 ktpy 2025+ Salobo IV +30 ktpy 2025+ South Hub Expansion Salobo IV South Hub Extension¹ Other satellites 1 Satellite deposits projects vary in maturity. ² Volume presented as Vale share

60 Progressing on our Nickel agenda Approval of Manitoba Extension Phase 1 First ore achieved at VBME² Conclusion of VNC¹ sale Update (pixel) Base Metals Transformation 4 First ore achieved at CCM 1³ South mine ¹ VNC stands for Vale New Caledonia. ² VBME stands for Voisey’s Bay mine extension. ³ CCM 1 stands for Copper Cliff Mine 1.

61 Well-positioned to pivot towards North Atlantic EV 57 628 2020 2025 2030 295 Current Future US Megafactory capacity expected growth GWh 1 GWh = ~0.7kt of nickel² Signed a long-term agreement with OEM to sell 5% of our Class I nickel to North America Target to achieve 30-40% of Ni to North America EV market in the mid-term (up to 5 years) Developing black mass recycling: positive tests on nickel and cobalt recoveries Base Metals Transformation 4 Evaluating options to build a nickel sulphate plant in Canada US Megafactories Current¹ Future Vale Canada Mines Refineries ¹ Major Megafactories in 2020. Source: Benchmark Mineral Intelligence (October 2021). ² Considering current US capacity profile which is nickel-based.

62 Delivering on stability in Nickel Ramping up VBME Advancing on replacement projects in North Atlantic Onça Puma: optimizing growth opportunities in South Atlantic Replacing capacity at Voisey’s Bay Replacing capacity in North Atlantic Adding capacity in South Atlantic 2nd furnace Optionality Additional production of 12-15ktpy in the first 10 years Currently performing value engineering Onça Puma expansion Advancing maturity assessment of pre- feasibility study Development of two U/G¹ mines – Reid Brook and Eastern Deeps Physical progress 72% in October 2021 First ore achieved in Reid Brook. Eastern Deeps start-up expected for 2H22 Phase 1 approved Phase 2 advanced to pre-feasibility study Base Metals Transformation 4 Manitoba extension CCM 3&4 Thompson operations Voisey’s bay mine Onça Puma plant ¹ U/G stands for underground.

63 Exploring Canadian high-quality resources Drilling exploration campaign planned for the next 5 years targeting near-mine to advanced projects (> 300Km per year) Base Metals Transformation 4 Thompson Sudbury Voisey’s Bay . Advancing exploration studies on large ultramafic-hosted Ni deposits . Extensive regional program targeting high-grade sediment-hosted Ni mineralization . Exploring near mine targets to extend mine life at Thompson Mine . Balanced portfolio of early- stage targets, advanced projects and near mine opportunities . Strong land position in world- class Ni camp with synergies to existing operations . Extensive near mine and regional program . Potential to add resources and extend mine life at Reid Brook and Eastern Deeps High-grade polymetallic orebodies, especially in Sudbury basin Canada has the largest Ni sulfide resources in the world

64 Unique access to higher quality nickel in Indonesia One of the largest Ni resource in Indonesia¹ Currently produces 70-80 kt of Ni in matte PTVI matte feeds into Matsusaka-Clydach flowsheet Beyond-compliant environmental management² Bahodopi - RKEF 70kt Ni 100% mine; 49% plant Pomalaa - HPAL 40kt Ni 100% mine; ~20% plant JV projects 1Q 2022 2022-23 Central Sulawesi South Sulawesi Southeast Sulawesi Base Metals Transformation 4 As of Dec 2020 Reserves Mt %Ni Mt Ni Resources³ Mt %Ni Mt Ni Saprolite 104 1.73 ~1.8 222 1.85 ~4 Limonite - - - 131 1.33 ~1.7 ¹ According to data available at S&P. ² Awarded a Green PROPER, an award from the Government to business entities that comply and even beyond compliance in terms of environmental management. ³ Saprolite resources including inferred resources of 116 Mt @1.9% Ni. Final Investment Decision:

66 Transforming our Base Metals business Base Metals Transformation 4 Unique access to higher quality nickel in Indonesia Well-positioned to pivot towards North Atlantic EV A Tier 1 mining complex with growth optionality

67 Discipline in capital allocation Gustavo Pimenta, Executive Vice President & CFO 5

68 . Benchmark in safety . Best-in-class reliable operator . Talent-driven organization . Leader in low-carbon mining . Reference in creating and sharing value Re-rating De-risking Reshaping Sound cash flow generation Discipline in capital allocation Reshaping Discipline in capital allocation 5 We are focused on delivering superior value to our shareholders . Focus on core business . Elimination of cash drains . Accretive growth opportunities . Cost efficiency . Brumadinho . Dam safety . Robust ESG practices . Production resumption

70 2022, a year of important deliveries for the Renova Foundation Discipline in capital allocation | De-risking 5 Acceleration of individual indemnifications following Federal Court decisions Final revision of 42 programs under the existing agreement framework Peak spending and delivery on resettlements Resettlement under construction Bento Rodrigues (MG), Brazil

71 CSA Fertilizer assets in Brazil Potash projects in Canada Coal assets in Australia Zhuhai YPM Mosaic Moatize CSI Manganese ferro-alloy in Minas Gerais, Brazil CSP Henan Longyu Energy Resources VNC Biopalma Fertilizer assets in Peru Potássio Rio Colorado 2015 2021 2018 2020 MRN What is next? Simplifying the portfolio to deliver on the reshaping… Discipline in capital allocation | Reshaping 5 Deals since Vale Day 2020 Advanced stage of negotiations Other non-core assets

73 Focusing on cost efficiency with an US$ 1 billion reduction program… Discipline in capital allocation | Reshaping 5 Note: Compared to 2021 figures. Considering current operations and excluding effects of exchange rates variation. . A leaner and more efficient organization . Removal of inefficiencies, better planning process (VPS) and incorporation of digital solutions Organizational redesign Productivity gains Levers . Specification and scope review, demand management Sourcing and third-party services ~US$ 750 million of fixed cost savings ~US$ 250 million of sustaining investments efficiency From 12 to 24 months: ~US$ 500 million of inflation costs avoidance Next 12 months:

74 … freeing up resources for growth opportunities Discipline in capital allocation | Reshaping 5 Gelado12 +10 Mtpy Serra Leste expansion6 Serra Sul +20 Mtpy Northern System8 260 Mtpy Salobo III +30-40 ktpy CCM PH 3&41 Onça Puma 2nd furnace +12-15 ktpy North Hub6 +70-100 ktpy Hu’u10 +300-350 ktpy Cristalino1 Bahodopi7 +70 ktpy Pomalaa7 +40 ktpy S11C6 2022 > 2026 2023 - 2026 South Hub expansion6 30-40 ktpy S11D +10 Mtpy Briquettes4 +7 Mtpy Manitoba Phase 2¹ Salobo IV6 +30 ktpy Briquettes9 40+ Mtpy Dry concentr. plant5 +9.5 Mtpy Northern System N31 Capanema3 +18 Mtpy Alemão +60 ktpy Victor111 +20 ktpy Northern System N1/N21 1 Replacement project. 2 Project starts with 5 Mtpy capacity as requires Usina 1 conversion to achieve full capacity of 10 Mtpy. 3 Net addition capacity of 14 Mtpy in the first years. 4 Includes Vargem Grande (0.75 Mtpy) and Tubarão 1&2 (6 Mtpy) briquette plant projects. 5 Dry concentration plant. Includes Vargem Grande (1.5 Mtpy approved), Fazendão (6 Mtpy) and Fábrica (2 Mtpy). In addition, a project in Oman to improve pellet feed quality (8.5 Mtpy) to supply direct reduction pellets production is under evaluation. 6 Project’s capacity under evaluation. Estimated figures subject to feasibility studies, internal approvals and market conditions. 7 Participation through joint ventures. Volumes shown as 100% basis. 8 Logistics project to increase Northern System capacity to 260 Mtpy (+20 Mtpy). 9 Different projects to produce iron ore briquettes. Estimates figures subject to feasibility studies, internal approvals and market conditions. 10 Volumes shown as 100% basis. Hu’u Project is 100% owned by PT Sumbawa Timur Mining (STM), an Indonesian private joint venture company owned by Eastern Star Resources Pty Ltd (80%) and PT Aneka Tambang (20%). Eastern Star Resources Pty Ltd is 100% owned by Vale. 11 JV partnership under discussion. Volume presented as Vale share. Iron Ore Copper Nickel Approved Apolo1 +14 Mtpy

76 … which should remain our focus as we resume capacity and manage cash use EBITDA 2023 - Sensitive analysis (US$ billion) 5 Cash Flow Drivers Iron ore price (US$/t) mid-point based on analysts’ forecast ~17.0 ~17.5 350 360 ~20.0 ~20.5 ~23.5 ~24.0 100 90 80 Iron ore sales volumes (Mt) 340 ~16.5 ~19.5 ~23.0 Discipline in capital allocation | Re-rating Note: Volumes and price ranges for sensitivity purpose only and do not constitute any guidance by Vale. Average BRL/USD exchange rate in 2023 of 5.00, average copper price (LME) of US$ 10,000/t and average nickel price (LME) of US$ 17,500/t. Transitory expenditures Controlled sustaining capex Accretive growth opportunities CAPEX US$ 5.8 bn (2022) US$ 5.0-6.0bn (avg. next years) Capacity resumption to drive volume growth EBITDA Increased knowledge with diluted annual payments Dam de-characterization Substantial progress on reparation process Brumadinho Indemnifications accelerating and skewed towards short term Renova

77 Important catalysts to unlock value in the next 12-18 months Discipline in capital allocation 5 Note: Capacity additions and cost savings compared to 2021E figures. Considering current operations and excluding effects of exchange rates variation. . Iron Ore: 30+ Mt Volume mainly from Itabira and Brucutu . Copper: +30-40 kt Salobo III Capacity increase Cost reduction . Next 12 months: ~US$ 500 million of inflation avoidance . 12 – 24 months: ~US$ 1 billion of costs/ investments efficiencies . Progress on reparation liabilities . 6 dams to be de-characterized . 11 ESG gaps to be concluded De-risking