#1Vale ESG Webinar Tailings and Dam Management Eduardo Bartolomeo CEO Carlos Medeiros Executive Vice President of Safety and Operational Excellence Rafael Bittar Geotechnical Director March 25, 2022#2"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 be permitted in an SEC filing. These materials are not proven or probable reserves, as defined by the SEC, and we cannot assure you that these materials will be converted into proven or probable reserves, as defined by the SEC. 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." Disclaimer#31 Opening remarks Eduardo Bartolomeo, Chief Executive Officer#4De-risking Vale through dam safety De-risking I Brumadinho ▪ Mariana ▪ Dam safety Production resumption Reshaping ■ Focus on core business Elimination of cash drains Accretive growth opportunities Cost efficiency ■ ■ Solid cash flow generation Discipline in capital allocation Re-rating I I ■ ■ Benchmark in Safety Best-in-class reliable operator Talent-oriented organization Leader in low carbon mining and ESG practices Reference in creating and sharing value VALE#5Strong governance and oversight for TSF¹ management... ■ Structures created post- Dam I collapse ■ Audit Committee Whistleblower Channel ▪ Internal Audit Compliance Office Corporate Integrity Board of Directors Accountable Executive Officer² CEO ■ Advisory Committees Operational Excellence & Risks Executive Risk Committees ▪ Geotechnical Risks Safety and Operational Excellence Executive Office Executive compensation 35-60% of short-term variable compensation tied to Health & Safety, Operational Risk and VPS targets The Safety and Operational Excellence Office has NO TARGET tied to production or financial metrics supported by tailored executive compensation --- 1 TSF stands for Tailings Storage Facility, with criteria agreed by the International Council on Mining and Metals' Tailings Advisory Group in response to the Church of England information request, which may differ from the Brazilian National Mining Agency criteria. 2 A requirement by the Global Standard Industry on Tailings Management. VALE OF#62 Risk management model Carlos Medeiros, Executive Vice President of Safety and Operational Excellence#7The risk management model fosters the office's independence 1st Line of Defense Business Units 1st Layer Geotechnical Operational Area 2nd Layer Geotechnical Matrix Area 1 TSF stands for Tailings Storage Facility. 2nd Line of Defense Safety & Operational Excellence ▪ Au H H Geotechnics Area ity to stop any given operation if necessary ▪ Development of a new and transformed Tailings & Dams Management System Risk management methodologies and process ▪ Ensure best practices to continually monitor mine waste facilities ▪ Support to the EoR implementation ▪ Implement the GISTM 3rd Line of Defense Internal Audit Compliance Office (Internal Audit and Whistleblower Channel) Engineer of Record ▪ TSF safety inspections and performance assessment ▪ Cover 100% of Vale's TSFS¹ External Sentinels Independent Audits ▪ Public Prosecutors' technical advisors Independent Tailings Review Boards (ITRB) ▪ITRB third- party advice on all phases of the tailings impoundment ▪ Act as external reviewers to the three lines of defense ▪ITRBS appointed to all Operational Systems in Brazil TSF Safety Review ▪ Periodical technical review by external engineering firm VALE#8The flow of information ensures visibility of critical issues to top management Office's reporting routine Half-year reports to the Board of Directors Half-year reports to the Fiscal Council Monthly reports¹ to the Operational Excellence and Risk Committee, which reports monthly to the Board of Directors Weekly reports to the Executive Board Ad-hoc reports whenever a risk out of the tolerable limit is identified 1 Considers 26 thematic reports in 9 months within a year. 2 TSF stands for Tailings Storage Facility. Conservative approach to TSF safety management ■ Reclassification of TSFs² based on updated knowledge of structures and safety conditions E.g. Xingu TSF (previous classified as drained pile) ▪ Evacuation of Self-Rescue Zones related to TSFs at Emergency Level 2 (ahead of the Brazilian legislation) E.g. Forquilhas I, II and Grupo TSFs Emergency level protocol activated before lack of reliable information E.g. Área IX TSF Non-exhaustive list VALE#9Best practices roll-out supports key achievements Upstream TSF De-characterization % of upstream TSFs² 60% 23% 17% Completed by 2021 Estimate for 2022 In progress HIRA¹ for TSFs % of TSFs3 with HIRA 28% 72% Implemented by 2021 Estimate for 2022 No. of structures 35 4 7 24 Structures at emergency level 2020 ကထ 33 22 jan-21 31 6 3 22 29 7 3 19 dec-21 mar-22 Level 1 Level 2 Level 3 (critical safety conditions) 4 5 dec-25E ¹ HIRA stands for Hazard Identification and Risk Assessment methodology. 2 TSF stands for Tailings Storage Facility. 3 Includes Vale's own facilities and excludes non-operated joint ventures. VALE#10Commitment to the Global Industry Standard on Tailings Management Vale ■ 1st self- 2020 assessment based on the principles (Sep 2020) ▪ The GISTM is I ~60% adherence¹ ~90% adherence (target)2 3 launched, based on 15 principles (Aug 2020) ▪ Gap-assessment based on the conformance 2021 protocol (Nov 2021) ■ External audit 2022 ▪ The 77 auditable requirements for adherence are made public (May 2021) Gap treatment . In line with the industry commitment 2023 2025 ▪ 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 ¹ Based on the results of the self-assessment conducted in December 2021, which had the 77 auditable requirements as main source and encompassed 58 Tailings Storage Facilities (TSFs). 2 Based on the external audit results. Structures held by joint-ventures are not included. ³ Considering TSFs with "Extreme" or "Very high" potential consequences. VALE 10#113 Tailings and dam management Rafael Bittar, Geotechnical Director#12Our Tailings Management Strategic Pillars 000. 00⁰0 Implementation of a new and transformed Tailings & Dams Management System (TDMS) N Vale will comply with the Global Industry Standard for Tailings Management Eliminating Upstream TSFs - De-characterization Program New Way to Operate - New projects to reduce the reliance on TSFs Co-products: recycling dry tailings to sustainably increase production capacity VALE 12#13Understanding the TDMS¹ Cultural transformation focused on Transparency, Leadership and Performance CULTURAL TRANSFORMATION AND KEY BEHAVIORS POLICIES & COMMITMENTS TECHNICAL: Normative Standards and Procedures ORGANIZATIONAL: Roles, Responsibilities and Authorities Routine Continuous Check of Operational Discipline 1 TDMS stands for Tailings and Dam Management System. TECHNOLOGICAL: Systems and Technologies Performance Continuous Check of the Tailings & Dam Geotechnical Performance Risk Failure Modes and Critical Controls Mapping Technical Method VPS Leadership 13#14Understanding the TDMS¹ POL-0037 establishes guidelines and commitments Policy for Dam Safety and Geotechnical Mining Structures Rev.: 00-08/10/2020 DCA 108/2020 VALE POL-0037-G Guidelines: Given the existing Safety Management context for these critical assets and Vale's goals, the following directives were defined: PUBLIC • Design and operate tailings storage facilities, water reservoirs and sediment dams, mine waste storage facilities, amongst other earth structures such as open pits, stacks and underground works, such that potential failures are prevented, monitored and mitigated, and that risks be always reported to the company's senior leadership. Vale's objective is for these assets to count with critical control actions in place so that risks are prevented and mitigated. • Keep the facilities and structures physically stable throughout all the critical earth structure's life cycle, starting at its construction and during its operation, decommissioning, closure and post-closure. • Implement the Safety Management System so that dams, earth structures and other mine waste storage facilities are built and/or raised following a detailed engineering design, under the supervision and with the acknowledgement of the Engineer of Record - EoR-and that these structures are operated following the mining dams' operation, maintenance and surveillance manuals, also called the OMS Manual. • Handle and/or dispose of tailings solid particles as well as the process or impounded water only within the tailings storage or mine waste storage facility's designated areas, minimizing the formation of supernatant water. Proceeding with these actions outside the designated areas requires prior and clear approval from the Business Executive Board and the Safety and Operational Excellence Executive Board, as well as, where applicable, from public administration authorities. • Fulfill the objectives of the Safety Management Systems for tailings storage facilities and geotechnical mining structures that aim to protect life, the communities, the integrity of infrastructure and processes, the availability and quality of water, and, generally, the environment protection, in order to ensure the inspection and monitoring of water reservoirs, tailings storage facilities and sediment dams in addition to open pits, stackings and underground mines, not only respecting the Company's internal procedures, but chiefly the applicable standards. Therefore, the assignation and contracting of engineering services, external review and consultancy services must prioritize quality, ethics and not the cost of such services. • Maintain a Safety Management System that allows for an effective level of governance in routine activities and with a level of strict compliance regarding the critical assets' performance in agreement with the national and international technical standards hereby referenced; thus, this System will keep adequate and active communication, dialogue with society and engaging the surrounding communities in agreement with the AA 1000 Stakeholders Engagement Standard-2015, the IFC Stakeholder Engagement Handbook or following the industry's best practice standards similar to the aforementioned standards. • Ensure that all components of the Safety Management System for dams and mine waste storage facilities are designed with continuous improvement elements, using and applying the best available technology and best practices according to international institutions (MAC and ICMM) and, at the same time, in the technical realm, the best practices of the Institutions (CDA, ANCOLD, ICOLD and LOP). 1 TDMS stands for Tailings and Dam Management System. • Design and operate all Vale's earth structures with the adequate licenses, following the pertinent local legislation and engaging the communities. • Maintain and disclose to the interested parties a preparedness and contingency plan for response to emergencies regarding the critical earth structures and geotechnical assets based on the best practices and best available expertise and in compliance with legislation in effect. The plans must be periodically tested through simulations and must be kept updated taking into account the communities and affected people. Policy for Dam Safety and Geotechnical Mining Structures POL-0037-G Rev.: 00-08/10/2020 PUBLIC DCA 108/2020 Commitment to the Safe Management of Tailings and Water Dams and Geotechnical Mining Structures: Vale's operations are mainly guided by the following commitments: • Implementing diverse controls aimed at managing the water in tailings storage facilities, from the design phase to the operation of the project. This must be achieved using hydraulic works to convey surface water runoff out of the impoundment and avoiding the interference of tailings or sediments at the spillways' inverts. VALE • Tailings disposal must consider guidelines or operational parameters in the planning sequence that cause or favour displacing water ponding away from the tailings storage facility dam's upstream slope in agreement with the Detailed Engineering Design, Design Criteria, Normative Standard, Technical Specification or OMS Manual. . . Reclaim, in the most efficient way, the water used in the production processes with the use of thickening circuits to reduce the volume of water that would be transported together or separately with the tailings; thus, prioritizing water recirculation at the process plant itself before reaching the storage facility or similar installation, so that water flow and ponding is avoided wherever the Detailed Engineering Design or OMS Manual does not specify it. Follow the safety conditions and best practices hereby mentioned (ICOLD, CDA and/or ANCOLD) exclusive for water reservoirs' embankments and hydropower dams, whether these are planned either for mineral processing or for environmental control or for power generation. • Improve, via the governance hereby established for dam safety and geotechnical mining structures as well as the independence and technical rigour of the Management Systems that support the quality of critical assets, a compulsory follow up to be carried out on a permanent and documented basis by the Engineer of Record (EoR) for the critical asset's every single stage of the life cycle, i.e. from design to closure. • Develop staff members in a professional manner, so that they achieve the appropriate training for each key function in the activities for geotechnical, hydrotechnical, dewatering and mining processes, based on efficient communication and specific training, in order to ensure that employees with relevant experience understand their responsibilities and, so, ensure direct, transparent communication with an appropriate sense of urgency at all levels of the organizational structure. Therefore, personnel training and continuing education will be carried out to keep the level of knowledge up to date regarding the earth structures as well as the improvement of the practice linked to the most rigorous engineering techniques. • Implement, at all stages of the asset's life cycle, geotechnical risk controls and activities tied with identified geotechnical monitoring based on the studied failure modes and their associated consequences. In the event of changes related to performance caused by internal or exogenous factors, a new engineering and risk assessment should take place as soon as possible. Risks must be periodically assessed in a specific way in order to measure the effectiveness of controls for each critical earth structure. These must count with an opinion in writing from the specialist in charge designated by Vale and the EoR in order to certify that such earth structures are operated in a disciplined manner, maintained and under surveillance, with updated and accessible information, and that the historical registry of the earth structure is properly stored and available in accordance with international quality standards. • Implement the Safety Management System for tailings dams and mine waste storage facilities, amongst similar systems, for the critical control of geotechnical risks. The scope of this System is applicable to every single stage of the asset's life cycle, comprising the various design phases: from construction to operations, to closure and post-closure. VALE 14#15Understanding the TDMS¹ Global standards operational procedures Performance PNR-000074: OMS Manual PNR-000075: Technical Quality Assurance (QA) and Quality Control (QC) PNR-000076: As-built Reports PNR-000097: Tailings and Water Management Facilities Guidelines for Performance Monitoring PNR-000102: Closure Planning for Tailings Storage Facilities PNR-000106: Terms of Reference for Engineer of Record PNR-000107: Terms of Reference for Independent Technical Review Boards PNR-000108: Standard Practice for Dam and TSF Safety Reviews PNR-000109: Safety Inspections of Dams and Tailings Storage Facilities PNR-000110: Standards for Site Wide Water Management Plans for Dams and TSFs PNR-000111: Standard Guidelines for the Design of Hydraulic Structures for Dams and TSFs 1 TDMS stands for Tailings and Dam Management System. POL-0037: Policy for Dam Safety and Geotechnical and Mining Structures PNR-000096: Vale Tailings and Dams Management System (TDMS) Risk PNR-000073: Consequence Classification for Dams and Tailings Storage Facilities PNR-000100: HIRA for Geotechnical Structures PNR-000129: Guidelines for Dam Breach Analysis PNR-000071: Dewatering Technology Selection PGS-004086: Guidelines for Emergency Response for Mining Dams PGS-004255: Management of Change for Tailings Storage Facilities PNR-000118: TDMS Implementation Guidelines Routines PNR-000030: Basic Geotechnical Guidelines (BGG) PGS-004524: Roles and Responsibilities TDMS BMNA PGS-004525: Papéis e Responsabilidades TDMS BMSA PGS-004526: Roles and Responsibilities TMDS PTVI PGS-004527: Roles and Responsibilities TDMS Coal PGS-004528: Roles and Responsibilities TMDS Energy Canada PGS-004529: Roles and Responsibilities TMDS Energy Indonesia VALE 15#16Understanding the TDMS¹ Organizational structure and the role of senior leadership Reporting to the Board of Directors Accountable Executive Officer Accountable Executive Officer Independent Tailings Review Board (ITRB) Vice President Operations Operations Operational Director (Dam Owner) Geotechnical Manager (Control Owner) Internal Audit Geotechnical governance and Standards Ownership Engineer of Record Technical Support and Verification Geotechnical Executive Manager (Risk Owner) RTFE (Engineer responsible for TSF¹) ¹ TDMS stands for Tailings and Dam Management System. 1 TSF stands for Tailings Storage Facility. 3rd line of defense Global: 2nd line of defense 1st line of defense (2nd layer) Responsible delegate of the Dam owner Responsible delegate of the Risk Owner 1st line (1st layer) - Operations 1st line (2nd layer) - Operations 2nd line - Normative 3rd line - Audit External (EoR/ITRB) Reporting line Keeps communication open VALE 16#17Understanding the TDMS¹ Monthly TSF performance assessed by the EoR² ■ ■ ■ All TSFs with extreme, very high, and high consequences need to have a designated EoR The EoR is responsible for periodic TSF safety inspections Monthly TSF Performance Assessment is publicly disclosed at Vale ESG portal since 1Q21 Structure Barragem 5- Mutuca Barragem 7 (Ferrous) Barragem 7B Barragem Alcindo Vieira Barragem Azul Barragem B3 Barragem B3/B4 N Municipality Nova Lima Jeceaba Nova Lima Itabira Parauapebas São Gonçalo do Rio Abaixo Nova Lima Mine Mutuca Viga Águas Claras Cauê Manganês Azul Brucutu Mar Azul ¹ TDMS stands for Tailings and Dam Management System. 2 EoR stands for Engineer of Record. Monthly Performance CULTURAL TRANSFORMATION AND KEY BEHAVIORS POLICIES & COMMITMENTS TECHNICAL: Normative Standards and Procedures ORGANIZATIONAL: Roles, Responsibilities and Authorities TECHNOLOGICAL: Systems and Technologies Performance Routine Geotechnical Performance Condition Classification Table for TSFs Unsatisfactory Satisfactory without restriction Satisfactory with restriction, without compromising safety Satisfactory with restraint, possibly compromising safety Not applicable / No data Risk VALE 17#18Understanding the TDMS¹ HIRA² deliverables 1 FMEA³, MUE4, Risk Assessment, Controls Coses Best O OF D Fe de fe Root Case what er mig af - De how e mended. fide puti G BA Awe W L w m 2 Vie A Rick A " 4 2 Critical Controle One Pagers he Fa far h S 3 w A And A A M 2 4 4 Hum 4 www Catal DOM w 10 me me M YONE depth Fi YAR N 3 Risk Matrix Severity Very Critical Critical Severe Moderate Low Very Low Total 4 5 Very Remote 6 12 7 5 4 Action List Action Description No. 3 23 Remote 18 13 4 2 0 40 Unlikely 17 2 0 28 Conduct Hydrogeology Study: Determine the cause of the high heads in the left abutment. The local hydrogeology is not well understood. Interim Risk Controls: Implement the following interim risk controls until the hydrogeology study can be completed. inverted fiter A. of the toe of the dam. B. Install pressure relief wells in the left abutment to reduce artesian heads. C. Beach tailings U/S of the dam to reduce the gradients from the reservoir. D. Reduce the normal operating water level in the reservoir. E. Update HIRA, critical controls, TARPS etc, as necessary. Likely Downstream Slope Surface Drainage: Evaluate the erosion damage that could occur during the 1:1.000 and 1:10,000 yr floods. Dedesign the drainage system if damage is unacceptable. 1 1 Active/Inactive Fault Verification: Determine if the fault in the bottom of the valley where the dam is located is active or not. 0 Conduct the following Additional Slope Stability Analyses: A. Effective stress analysis with cohesion intercept equal to 0. i.e. c'= 0 kPa. B. Undrained analysis using pseudostatic analysis C. Deformation study. D. Evaluate and update the critical sections (CC2), instrumentation (OMS) and TARPs (OMS) as appropriate. 0 Calculate Earthquake Induced Settlement of Colluvium Layer Install Additional Information: Install vibrating wire piezometers in existing standpipe piezometers to obtain real-time piezometric data for dam. Very Likely 0 0 0 0 0 0 Reason/Origin Elevated Risk due to adverse conditions Interim Risk Reduction Improve risk understanding Improve risk understanding Risk Reduction Improve risk understanding Improve risk understanding CULTURAL TRANSFORMATION AND KEY BEHAVIORS POLICIES & COMMITMENTS TECHNICAL: Normative Standards and Procedures ORGANIZATIONAL: Roles, Responsibilities and Authorities TECHNOLOGICAL: Systems and Technologies Performance Routine Total 49 26 9 5 5 1 95 Timeline 30-Aug-22 31-Dec-21 31-Dec-22 31-Dec-21 30-Nov-22 30-Jun-21 31-Dec-21 1 TDMS stands for Tailings and Dam Management System. 2 HIRA stands for Hazard Identification and Risk Assessment. 2 FMEA stands for Failure Mode and Effect Analysis. 4 MUA stands for Material Unwanted Event. Risk VALE 18#19Good performance of geotechnical assets during the heavy rains in Minas Gerais¹ Challenge +750mm rains recorded in January 650mm in just 12 days Around 300mm in 2 days ■ Performance No significant issue identified in any given Tailings Facility The rainy preparation plans, developed and implemented in advance, worked very well as an important tool to prevent and minimize risks associated to the heavy rains Good level of preparedness from ops and corporate teams, reflecting tailings management improvements Continuous improvement: learnings and points of improvement to be incorporated in the next plans ¹ In January 2022. Points of attention related to erosion in access, small slope failures, natural slopes, backup dams with water retention Trigger response plans and alerts system E Geotechnical Monitoring Center ooo ▪ Real time piezometers monitoring I Video analytics with artificial intelligence H Geophones to measure TSFs response to seismic Radars ensure fast response and precision Satellite, drone imagery and sound alarms 19#20GISTM¹ Journey and the commitment to compliance 67% | 58% || Sep/21 76% ||| Internal Self-assessment 95% ~60%² 2021 22% 67% IV V VI Dec/21 Dec/22 Gap-assessment with external audit of 10 TSFs All TSFs in compliance with GISTM Full adherence to GISTM to current TSFs4 External Verification Target 90% Feb/22 2023 2022 Aug/23 GISTM Baseline³ for all TSFs and associated action plans in place Aug/25 Common gaps and focus areas Climate change incorporated in the facility design Seismic studies Social community engagement and communication ■ ■ ■ ▪ AE engagement ■ ■ Design Basis Report Succession plan for key role holders in the TSF safety matter ▪ Establishment of mechanism to recognize, reward, and protect employees who identify and report opportunities for improving TSF management ▪ Closure plan 1 GISTM stands for Global Industry Standard on Tallings Management. 2 On average, considering the 41-iron ore TSFs results (low er results). 3 GISTM public disclosure in March/2022. 4 Tailings Storage Facility with criteria agreed by the International Council on Mining and Metals' Tailings Advisory Group in response to the Church of England information request, which may differ from Brazilian National Mining Agency criteria. VALE 20#21Self-assessment¹ to drive actions for full adherence to GISTM Topic - Affected Communities Topic II - Integrated knowledge base Topic III - Design, construction, operation and monitoring Topic IV - Management and governance Topic V - Emergency response and long-term recovery Topic VI - Public disclosure Principle 1 Principle 2 Principle 3 Principle 4 Principle 5 Principle 6 Principle 7 Principle 8 Principle 9 Principle 10 Principle 11 Principle 12 Principle 13 Principle 14 Principle 15. ¹ Dated December 2021. 2 Encompassing 41 TSFs. 3 Encompassing 17 TSFs. Iron Ore² 55% 62% 59% 60% 54% 50% 52% 46% 41% 51% 69% 61% 53% 75% 79% Base Metals³ 81% 66% 55% 71% 78% 80% 91% 81% 67% 95% 89% 81% 98% 100% 91% 21#22Concrete steps towards GISTM implementation Affected communities¹ ■ Grievance Global Standard released on October 30, 2020 ▪Human Rights Global Policy and Global Standard Procedure for engagement with Indigenous People and Traditional Communities ▪ Brazilian legislation requires FPIC ▪ All process that requires PAEBM review has an Indigenous and Quilombola component Integrated knowledge base ■ The PAEBM¹ registers the project- affected people (socio-economic and environmental) H The most at-risk groups are also identified ▪ Probabilistic seismicity hazards and climate change assessments being performed ▪TSF break studies under review, following best practices 1 Emergency Action Plans for Mining Dams. ■ ■ Design, construc- tion, operation & monitoring Consequence of failure classification being reviewed in accordance with GISTM Addressing brittle failure modes with conservative design criteria (implementation of backup dams for the critical upstream TSF) Design Basis Report prepared by EoR's HIRA to assess risks and critical controls, geotechnical monitoring centers with TARPS3 Management and governance ▪ Policies, systems and accountabilities completely reviewed ▪ITRB and EOR appointed ▪ Multi levels of review implemented ▪ Geotechnical knowledge portal implemented ▪ Organizational culture with VPS enforcement H ▪ Ombudsman channel with whistleblower protection Non-exhaustive examples Public disclosure and access to information Emergency response and long-term recovery ■ PAEBM¹ publicly disclosed - Engagement with public sector agencies in post- failure response strategies H Brumadinho reparation enabling participation of the affected people in the restoration and recovery works and ongoing monitoring activities ▪GISTM implementation commitment disclosed at the ESG Portal ▪ESG Portal under frequent review to accommodate all the TSF and information requested ▪ Monthly EoR reports publicly disclosed VALE 22#23Community engagement in preparation and response for emergency situations Emergency Action Plans for Mining Dams (PAEBM)¹ publicly disclosed² and fully aligned with principle 13 of GISTM Emergency response training with communities close to TSFs Partnership with the local Civil Defense Agency to ensure appropriate conditions for simulations and emergency protocols activations Alarm sirens placed in strategic areas to trigger emergency protocols Teams and communication channels dedicated to the dialogue with communities In case of mandatory removal, full support to reestablish living and working conditions to those affected 1 Technical document required by the National Policy for Dam Safety - PNSB. 2 Available at: http://www.vale.com/brasil/PT/aboutvale/servicos-para-comunidade/minas-gerais/Paginas/Projetos.aspx VALE 23 23#244 Upstream TSF De-characterization#25Eliminating upstream TSFs¹ in Brazil Upstream TSF De-characterization Program 7 eliminated since 2019 2 completed in 2021 23 remaining Completion by 2035 1 TSF stands for Tailing Storage Facility. VALE 25#26Precautionary approach to address brittle failure modes Construction of backup dams (containment dams) downstream critical TSFs and removal of population at risk ECJ B3/B4 33m height | 221m length ECJ Fábrica 95m height | 330m length ECJ Sul Superior 36m height | 330m length Use of remotely operated equipment to remove tailings in critical TSFs ENCUENTRADES VALE 26#27Updated and transparent program's timeline Structure Baixo João Pereira Dique Auxiliar B5 Dique 3 Dique 4 Ipoema Dique 2 Área IX Dique 1 A Dique 1 B Grupo Campo Grande ED Vale das Cobras Vargem Grande ED Monjolo B3/B4 Sul Superior Dique Cordão Nova Vista Dique Minervino Doutor Xingu Forquilha I Forquilha II Forquilha III 2022 2023 2024 2025 2026 2027 2028 2029 2035 De-characterization works in Baixo João Pereira, B3/B4, Dique 3, Dique 4, Sul Superior Engineering in progress: Conceptual engineering: progress: ■ I Dique 1A, Dique 1B, ED Monjolo, ED Vale das Cobras, Forquilha I, Forquilha II, Forquilha III, Ipoema Basic engineering: Área IX, Grupo ■ Detailed engineering: Campo Grande, Dique 2, Dique Auxiliar B5, Dique Cordão Nova Vista, Dique Minervino, Doutor, Vargem Grande, Xingu VALE 27#28Revised provisions according to project pipeline Elimination of upstream TSFs per year No. of structures 5 4 3 {1- 2 LO 5 3 30 7 2021A 2022F 2024F¹ 2025F3 2026F 2027F 2029F 2035F Total 2 US$ billion 0.3 0.4 Program's cash outflow¹ 0.4 0.5 0.5 0.4 2021A 2022F 2023F 2024F 2025F 2026F 0.2 2027- 35F on average ¹ Estimated cash outflow for 2022-2035, given BRL-USD exchange rate at 5.5805. Values presented without adjustment to present value. The 2027-35 average cash outflow is of US$ 240 million. VALE 28#295 Moving from wet to dry tailings#30New projects to reduce the reliance on TSFs Iron ore production by method Mt Wet processing Wet processing with tailings filtration Dry concentration Dry processing 346 40% 2015 385 58% 2018 300 73% 2020 400 ~15% ~1% ~70% 400 Mtpy production level¹ 85% Lower TSF exposure SYNAPAC 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 DENAPAC VALE 30#31Co-products: recycling dry tailings to sustainably increase production capacity 1000 Sand stockpile Brucutu site 3 Less area required to dispose dry tailings¹ Co-products operations in place at Brucutu and plans for Viga in 2022² Sand as a raw material for industry (around 1.0 Mt sales³ committed to 2022) Multiple uses under development (e.g. bricks, green tires, quartz) ट 1 Tailings from current production. 2 Operations in Itabira and Vargem Grande are under analysis for the future. 3 Sales and donations. 4 As an example, the creation of local industries and jobs creation. Circular economy: shared value with communities4 31#326 Closing remarks#33On track for eliminating exposure to TSF failure risk Upstream TSF De-characterization Program in progress Optimized governance supporting risk management Best practices to improve tailings and dam performance Processing solutions to replace TSFs VALE 33#34VALE