#1BMO Global Metals & Mining Conference VALE Eduardo Bartolomeo March 1st, 2021 Public content Family healthcare unit and nursery Project at Parque da Cachoeira 1#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 000. 1000 Safety and operational excellence New pact with society Maximize flight to quality in Iron Ore Base Metals transformation Discipline in capital allocation. ||0|0|0 jololol Geotechnical Monitoring Center VALE 3#4Safety and operational excellence New dam and tailings management approach 3 geotechnical High adherence to GISTM monitoring centers for over 100 dams Non-exhaustive examples Routine New dam management policy e Responsibility assignment matrix revised - 25 requirements and guidelines under preparation Project governance revised Periodic assessment by the assurance team Performance 100% of dams (Brazil) with Engineer of Record designated Continuous monitoring and inspections Periodic and immediate reports to upper management Extensive drilling to determine "As is" condition of all geotechnical structures Risk assessment 100% dam portfolio covered by risk assessment (HIRA) by the end of 2022 100% integrated to Vale's Enterprise Risk Management (ERM) Rigorous enforcement of updated emergency level requirements J VALE#5T New pact with society We are committed to the Integral Reparation of Brumadinho Global Settlement Mediation Legitimacy Open dialogue and active listening ↑ Individual damages R$ 9 billion¹ driven directly to the affected people Fair and swift reparation Clear governance Legal certainty Known impact Indemnification settlements continue +9,000 people with agreements ¹ Approximate figure, including amounts already disbursed. I I 1 1 I I Ground Zero Brumadinho Water pipelines on the Pará River VALE 5#6New pact with society We are vigilant and responsive to the needs of Society 2030 Commitments Energy Forest Water 100% global electricity consumption of clean energy Recover and protect +500,000 ha Reduce new water collection by 10% Climate change Reduce GHG emissions by 33% and be carbon neutral by 2050 Socioeconomic contribution ESG gaps Health care, education and income generation Eliminate main ESG gaps Reduce 15% of scope 3 net emissions by 2035 Absolute scope 3 net emissions (MtCO2e) 586 2018 -15% 641 2035 - BAU¹ 496 2035 ¹BaU stands for business as usual. Scenario based on production of ~400Mtpy iron ore. Reduction target based on Science Based Target Setting tool for Scope 3, including offsets. Note: Vale is also committed to revising its scope 3 target in 2025 and every 5 years, in order to reevaluate technological developments and global climate policy advancements. со#7D Maximize flight to quality in Iron Ore Resuming and stabilizing iron ore capacity Implementing solutions for a sustainable mining Iron ore capacity (Mtpy) 322 Today 350 End of 2021 400 End of 2022 450 Future Production guidance 2021: 315-335 Mt Increasing dry W processing production C: Developing dry concentration solutions Implementing ** tailings filtration systems Blending strategy Production increase in Northern System Shift of Usina 1 in Serra Norte New Steel plant with 1.5 Mtpy capacity approved Vargem Grande Complex Brucutu site Itabira Complex VALE 7#8Base Metals transformation Carajás is our platform to grow in copper Salobo III Alemão Cristalino www*** Start-up in 2022 Cu ~30-40 ktpy US$ 570-670 M streaming from Wheaton Start-up in 2024-25 Cu -60 ktpy High gold by-product / Opportunity for streaming Start-up in 2024-25 Cu -80 ktpy Maintain Sossego's plant operating at full capacity We will reach ~500 ktpy with projects already in the pipeline and have the potential to organically reach 900 ktpy capacity We are leaders in Nickel for energy transition VBME Copper Cliff Mine Onça Puma 2nd furnace Start-up in 4Q21 Ni-45 ktpy Transition to underground mining to sustain production Start-up in 4Q21 Recover production capacity Ni-10 ktpy Start-up in 2023 Ni-15 ktpy Low capital intensity, high return Focus on de-risking with stabilized production and growth potential in South Atlantic and Indonesia. 8#90⁰⁰⁰ Discipline in capital allocation Our discipline in capital allocation remains steady Capex 2021: US$ 5.8 bn Onwards: US$ 5.5 bn Expanded Net Debt 4Q 19: US$ 17.8 bn 4Q 20: US$ 13.3 bn Target: US$ 10 bn Return cash to shareholders (Dividends X Buybacks) VALE 9#10We are de-risking Vale Keeping a fast pace and quality at Brumadinho's reparation Becoming one of the safest and most reliable mining companies Resuming production under safe conditions ✔ Focusing on discipline in capital allocation VALE 10#11VALE 11