#1Global Metals, Mining & Steel Virtual Conference 2021 VALE Eduardo Bartolomeo May 18th, 2021 Public content fets Serra Sul Complex Photo: Ricardo Teles December 2020#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 and not on historical facts, 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; and (e) global competition in the markets in which Vale operates. 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 - The SEC 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, including 'measured resources,' 'indicated resources,' 'inferred resources,' ‘geologic resources', which would 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. 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#3Our strategic pillars remain solid... Safety and operational excellence New pact with society Maximize flight to quality in Iron Ore Base Metals transformation Discipline in capital allocation Defined in 2019 December 2020 Sossego mine Employee Mayara Ventura#4as well as our commitments People Safety Reparation CF-2017-09 November 2020 6 Salobo mine Employee Alberdan Amorim VALE F-2017-15 -02 Call SP#5We are walking the talk De-risking ■ ■ ■ ■ Brumadinho Dam safety Robust ESG Practices Production resumption Reshaping Focus on core business ■ Control of cash drains ▪ Growth opportunities ■ Sound cash flow generation Discipline in capital allocation Re-rating ■ ■ ■ ■ میرا Benchmark in safety Best-in-class reliable operator Talent-driven organization. Leader in low-carbon mining Reference in creating and sharing value VALE 5#6De-risking We are repairing Brumadinho Global Settlement + R$ 37.7 billion in total economic value + R$ 9 billion¹ directly to the affected people ✓Clear governance ✓ Legal certainty ✓ Known impact }| Individuals with indemnification agreements² Number of individuals, cumulative view 6,000 2019 8,900 2020 10,200 2021 ¹Approximate figure, including amounts already disbursed. ²Related to agreements entered into as of May 2021, approximate figures. Le May 2021 Works for a new water pipeline system Paraopeba River (MG) CENA#7De-risking We are improving our dam safety Upstream dam decharacterization 2021: Fernandinho dam and Forquilhas back-up dam ✓ 5 structures de characterized ✓ 25 ongoing decharacterization projects. Reduction of dams at emergency level¹ Number of structures 35 24 7 4 2020³ 33 22 83 }| 29 18 8 3 apr-21 25 18 4 3 dec-21E Emergency level² 1 2 3 jan-21 ¹Expectation of reduction, subject to the implementation and effectiveness of safety improvement measures. Considers dams, dikes and stacked piles. Referring to the emergency protocol provided for in each Mining Dams Emergency Action Plan, considering level 3 as the critical level. ³Considering the maximum number of structures at emergency level in 2020. May 2021 Forquilhas back-up dam Ouro Preto (MG)#8De-risking We are leveling up our ESG practices ESG gaps by estimated conclusion date 37 Gaps closed by dec/2020 ■ 4 }| 2 Gaps completed by Apr/21: Higher disclosure on the Board assessment Report on emerging long-term risks ■ 20 Gaps completed after the AGM 2021: ▪ More independent members ■ Larger board experience in mining Independent chairman Gaps closed by Apr/21 ▪ Lead Independent Director role Gaps with ongoing works 63 Total gaps November 2020 26% increase in Vale's female workforce Employee Adriana Vormoca VALE ADRIANA VORMOCA 8#9De-risking }| We are delivering on our New Pact with Society Humanitarian aid in the pandemic + US$ 110 million driven to the fight against Covid-19¹ ✓ Construction of field hospitals ✓ Reform of existing hospitals and increase of hospital beds ✓ Intubation medication for 500 hospital beds for 1.5 months ² ✓ Ventilation machineries ✓ 50 million syringes ✓ 36,000 m³ of oxygen to Pará ✓ R$ 10 million³ to the Butantan Institute 'Since 2Q20. ²Together with the companies ENGIE, Itaú Unibanco, Klabin, Petrobras Raízen and TAG. ³Resources planned for 2021, for the expansion of the Multi-Purpose Vaccine Production Center (CPMV). LO POVE April 2021 www. REGI 20 *** +3.7 million intubation medications Donation to the Brazilian Ministry of Health www ****. BRO OPEC OPOLS www M SAM Sond Core De wwwww..#10De-risking All halted sites were resumed, fully or in part Iron ore capacity (Mtpy) 300 Production in 2020 327 }| 350 400 Current Capacity by Capacity by capacity end of 2021 end of 2022 Production guidance 2021 315-335 Mt >450 Future Capacity buffer FMH THA April 2021 Filtering plant Vargem Grande Complex TQ-1490P-01 S#11Reshaping We are closing our cash drains VNC Moatize Samarco ▪ Exit solution supported by Government, employees and local stakeholders ■ ~US$ 150 million EBITDA loss avoided per year¹ ▪ Asset revamp completed, with an expected run-rate of 15 Mtpy in 2H21 ▪ Investment agreement to acquire Mitsui's interest on assets Operational restart in December 2020 Judicial reorganization requested to preserve production, jobs and compliance with obligations ¹Considering VNC EBITDA in 2020. A AR June 2013 Moatize Coal mine Moatize (Tete) Mozambique 11#12Reshaping We are ensuring growth optionalities Projects in Copper Salobo III Alemão VBME CCM1 Start-up: 2022 Cu ~30-40 ktpy Start-up: 2024-25 Cu -60 ktpy Start-up: 2Q21 Ni -45 ktpy Start-up: 2Q21 Ni ~10 ktpy ¹Participation through joint-ventures.. Projects in Nickel Cristalino Hu'u¹ Onça Puma 2nd Furnace Bahodopi e Pomalaa¹ Start-up: 2024-25 Cu -80 ktpy Potential project approval in 2025 Cu 250 ktpy+ Au 200 koz+ Start-up: 2023+ Ni -15 ktpy Start-up: 2025-26 Ni ~110 ktpy April 2021 Salobo Ill project Marabá (PA)#13Re-rating }| We are working to become safer and more reliable Multi-layered governance for risk management +95% of our sites with HIRA¹ implemented VPS2 as a lever for operational reliability 14k+ employees trained 100% of dams (Brazil) with Engineer of Record designated Vale's Tailings and Dams Management System under implementation and aligned with the industry standard Concrete steps towards GISTM³ implementation ¹Hazard Identification and Risk Assessment. Vale Management Model. ³Global Industry Standard for Tailings Management. Geotechnical Monitoring Center Parauapebas (PA) DO||0|11|1-1 December 2020 Controle de Srenes 19 13#14Re-rating A leader in low-carbon mining By zeroing scope 2 emissions in Brazil by 2025 Pelletizing and metallurgy Mine ✓ Electric trolley in Carajás, -20% fleet emission reduction ✓ 25 underground electric trucks in operation in Canada, 40+ by late 2021 Logistics ✓ First 100% electric locomotive in Tubarão port: replacing diesel with sustainable electric energy, while also reducing noise emission ✓ Biomass-based pelletizing, successful tests in 2020, reducing fossil fuel demand Power ✓ Sol do Cerrado - 766 MW solar plant: US$ 500 mn investment October 2020 100% electric locomotive Vitória (ES) 404 404#15Re-rating A leader in low-carbon mining By pioneering the reduction of scope 3 emissions, as the preferred iron ore solutions provider ✓ Engagement throughout our value chain ✓ Relevant flight-to-quality advancements in portfolio ✓ Boston Metal: MIT-based technology for CO2-free steel production based on electrolysis ✓ Ecoshipping: open innovation hub with 65+ initiatives. identified ✓ Ship with rotor sails and air lubrication ship by 2021 143 Pax o cean SEL NO CHOIN SAFETY FIRST April 2021 SEA ZHOUSHAN Ship with rotor sails Up to 8% emission reduction per ship 5 WADU PAN 20 ACNAV#16Re-rating A reference in creating and sharing value Reparation ■ Brumadinho ■ Renova ✓ Brumadinho Global Settlement: US$ 3.541 billion provision¹ ✓ Renova Foundation: US$ 1.732 billion provision ¹² Our discipline in capital allocation continues Shareholder remuneration De-risking ▪ Safety & Operational Excellence ▪ Production resumption ▪ ESG ▪ Other obligations ✓ US$1.962 billion provision for dam decharacterization¹ ✓ US$ 2 billion-investment in energy self-generation³ until 2030 Dividends ✓ US$ 7.2 billion paid (2H20-1H21) Share buyback program 4 ✓Up to 5.3% of the total outstanding shares5 ✓ Management confidence in Vale's potential to consistently create and share value ¹As of March 31, 2021. ²Includes Samarco. ³From renewable sources. As announced on April 1st, 2021. 5On February 28th, 2021. Growth opportunities = ▪ Growth projects ■ Other growth options ✓ Low-Capex growth options ✓Capanema +14 Mtpy ✓ Salobo IV +30 ktpy ✓ Onça Puma 2nd furnace VALE 16#17Re-rating We are closing the gap Vale Peer 1¹ Peer 2¹ 17% 89% 82% 13% 1-Month 51% 44% 6-Month 11% 49% 47% TSR²: Share appreciation Dividends paid ³ 27% 22% 178% 160% 13% 3-Month 109% 97% 12-Month 12% 10% 100% 96% ¹Major diversified mining companies. "As of May 13th, 2021. ³Dividends paid, not reinvested. September 2020 CHEC Shulanghu Port Zhejiang Province, China 17#18VALE 18