#1Fernandinho dam decharacterization works were concluded in July 2021 Vale's Performance in 2Q21 Rio de Janeiro, July 29th, 2021 VALE#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#3Opening remarks#4We have made progress in repairing Brumadinho Integral Reparation Settlement Agreement ✓ Vale will maintain emergency payments for +101,000 people until August 2021¹ ✓ The detailing of projects and governance continues Reparation Advances ✓ +1,300 new equipment for 76 Basic Health Units in 8 municipalities ✓ Program for Strengthening Social Participation in 10 municipalities ✓ Nursery for the Palhano community, Brumadinho (MG) ✓ Paving and signaling of the road between Córrego do Feijão and Alberto Flores, Brumadinho (MG) Indivisual Indemnifications² +10,700 people + R$ 2.6 billion in signed agreements Commissioning of works for the new water collection system on the Paraopeba River (MG). ¹Nos termos do acordo, não extensível. 2Número acumulado de pessoas com acordos assinados e valores comprometidos em acordos assinados desde 2019. VALE#5We continue to improve our safety management Upstream dam decharacterization ✓ Completion of the Fernandinho dam decharacterization works ✓ Completion of the containment structure downstream the Forquilhas I, II, III, IV and Grupo dams ✓ Start of activities to remove tailings from Sul Superior and B3/B4 dams Emergency management ✓ Reduction in the emergency level of the Doutor and Sul Inferior dams Dam management ✓ Independent Tailings Review Board: practice in line with the GISTM¹, deployed in Iron Ore Systems 1 Global Industry Standard for Tailings Management. Aerial view from the containment structure downstream Forquilhas and Grupo dam. VALE LO 5#6We have also made progress on our ESG commitments Leading the transition to a low carbon mining ✓ Prioritizing the reduction of operational emissions ✓ Nature-based solutions with social and environmental co- benefits ✓ High integrity carbon markets ESG Gap Action Plan ESG GAPS by Estimated Completion 37 8 11 17 63 Dez/20 1S21 2S21 2022+ Total Complete Ongoing ✓ US$ 4-6 billion in investments by 2030 to reduce GHGE ✓ Marginal abatement cost curve updated annually for project prioritization ✓ -80% of the mapped initiatives are positive NPV¹ at the considered shadow price Closed in 1H21: ✓ Board of Directors assessment process ✓ Better reporting on long-term emerging risks ✓ Independent Chairman ✓ Provision for Lead independent director role ✓ Greater number of independent directors ✓ Greater Board experience in mining and dams ✓ Compensation Committee, with an independent majority ✓ Due Diligence Process in Human Rights 1 1 As of June 2021, with greater technological maturity due to the pilot phase and studies. Figures include assumptions for low-maturity technologies, leading to uncertainty. $50/tCO2e: shadow price for all capital allocation decisions. VALE 6#7We are resuming our production capacity مسا US$ 11.239 billion Record proforma adjusted EBITDA US$ 6.527 billion Free Cash Flow, US$ 690 million higher than 1Q21 75.7 Mt Production of iron ore fines, 12% higher than 2Q20 Normalization of operations at the Ponta da Madeira Terminal VBME Project's first ore production Moatize ramping up to reach a run-rate of 15 Mtpy Aerial view of Serra Leste, which reached its maximum production capacity in 2Q21 (6Mtpy) 1 Pro forma adjusted EBITDA in 1Q21, excluding expenses with Brumadinho and donations related to COVID-19. VALE 7#8Our discipline in capital allocation continues Reparation ■ Brumadinho ■ Renova Integral Reparation Settlement Agreement: US$ 2.155 billion provision ¹ Renova Foundation: US$ 2.491 billion provision¹ ✓ Individual indemnifications, emergency aid and other reparation payments: US$ 470 million ¹ De-risking ▪ Safety & Operational Excellence Production resumption W ▪ ESG ▪ Other obligations Provision of US$ 2.155 billion for upstream dam de characterization ¹ 1 US$ 4-6 billion - investment to reduce GHG by 2030² Shareholder remuneration Dividends US$ 6.1 billion in 1H21 Share Buyback Program US$ 2.0 billion disbursed in 1H20 ¹Balance of provisions as of June 30, 2021, exchange and present value adjustment. Initiatives to reduce scopes 1 and 2 emissions. Growth opportunities Growth projects Other growth options H Low-CAPEX growth options ✓ Capanema +14 Mtpy ✓ Salobo IV +30 ktpy ✓ Onça Puma 2nd furnace VALE 8#9We are on the way to a better Vale De-risking ■ ■ 1 ■ Brumadinho Dam safety Robust ESG practices Production resumption Reshaping Focus on core business ■ Control of cash drains ▪ Growth opportunities ■ Solid cash flow generation Discipline in capital allocation Re-rating ■ ■ ■ حمد Benchmark in Safety The best and most reliable operator Talent-oriented organization Leader in low carbon mining Reference in value creation and sharing VALE 9#102 Iron Ore#11Ramping up iron ore production Guidance of 315-335 Mt in 2021 Iron ore production (Mt) co 68 8 60 1Q 76 8 68 89 2Q 3Q Additional production in 2021 85 4Q 2020 What will support production increase in 2H21? 1 2 3 4 LO 5 Usual seasonality Serra Leste: full capacity Brucutu: More high-silica ore due to market condition Fábrica: full capacity VGR: Maravilhas III dam and conveyor belt VALE 11#12We are progressing on resumption plan Iron ore capacity (Mtpy) 318 327 330 335 343 380 400 || Investor 1Q21 2Q21 Today End of End of Tour 2020 2021 2022 ¹ Previously, Itabira was expected to negatively impact Vale's capacity in 7 Mtpy. 450 Future Recent developments April 2021 May 2021 July 2021 Potential setbacks Northern System Southeastern System Southern System • Fábrica: Temporary authorization for wet processing facilities tests (+4 Mtpy). Serra Leste: Site reached full capacity (+2 Mtpy) •Brucutu: Increase of high-silica sinter feed production by dry processing taking advantage of market conditions (5 Mtpy of net addition on capacity). • Fábrica: Final authorization to operate beneficiation and pelletizing plants. • Vargem Grande: Start-up Maravilhas III dam (4 Mtpy of net addition on capacity). • Itabira: Temporary tailings disposal restrictions due to limited disposal areas (-2 Mtpy¹). • Temporary restrictions and licensing: Mutuca, Northern System and others (-5 Mtpy). VALE 12#13We are progressing on resumption plan What is next? 3Q21 4Q21 Delays to 2022 Vargem Grande Unlock conveyor belt S11D Second crushers' installation to process jaspilite ores Brucutu Torto dam start-up +6 Mtpy +2 Mtpy +12¹ Mtpy Northern System Southeastern System Southern System Itabira Start-up of Conceição filtration plant, softening short term tailings disposal restrictions +0 Mtpy in short term ¹ Brucutu site capacity increased in 2Q21 to 16 Mtpy (+5 Mtpy of net addition) with increase of high-silica sinter feed production by dry processing, taking advantage of market environment. As a result, the net addition capacity from the Torto dam start-up changed to 12 Mtpy (from previous 17 Mtpy). VALE 13#14VALE