#1B3/B4 back-up dam, delivered in 4Q20. Vale's performance in 2020 Rio de Janeiro, February 26th, 2021 VALE#21 Opening remarks#3We entered into the Global Settlement for Integral Reparation Mediation Legitimacy Open dialogue and active listening R$ 9 billion¹ driven directly to the affected people Individual damages Fair and swift reparation Clear governance Legal certainty Known impact Indemnification settlements continue +9,000 people with agreements Approximate figure, including amounts already disbursed. VALE 3#4Our cultural transformation is underway Action fronts Boost culture as a strategy facilitator Influence and model systems according to expected behaviors Method VPS Leadership vi Develop and engage leadership to lead change Formal assessment Prioritization of gaps Roadmap construction Integrate existing initiatives so that change is accelerated - Implementation and monitoring New evaluation cycle VALE#5We have updated our ESG action plan 52 gaps ✓ 37 gaps addressed since 2019 ✓ 11 gaps solved in 2020 ESG Gaps by deadline 37 mapped Gaps solved by 2020 6 Completion after AGM 2021 14 Completion in 2H21 +11 gaps included in 2021 ↳ 5 Dam management: compliance with ICMM guidelines (GISTM) Completion by 2022 1- Deadline for completion under evaluation 63 Total VALE LO 5#6We continue to move forward with production stabilization US$ 8.8 billion Adjusted EBITDA Iron Ore 2nd highest in our history 63.9 Mt Iron ore sales in China Record in 4Q20 Projeto Capanema US$ 445 million Copper EBITDA Record in a quarter VALE CO 6#7We are de-risking Vale Ⓒ Keeping a fast pace and quality at Brumadinho's reparation Ⓒ Becoming one of the safest and most reliable mining companies S Resuming production under safe conditions Ⓒ Focusing on discipline in capital allocation 7#82 Iron Ore Business#9We are progressing on resumption plan Iron ore capacity (Mtpy) 318 322 350 400 450 Investor Today End of End of Future Tour 2020 2022 2021 Production guidance 2021 315-335 Mt Recent achievements December 2020 January 2021 February 2021 March 2021 ● Northern System Southeastern System Southern System Serra Leste: resumption of operations, adding 4 Mtpy capacity • Capanema: project approval with 18 Mtpy capacity (start-up in 2023) • Fábrica: resumption of dry processing operations, adding 2 Mtpy capacity • Vargem Grande pellet plant: resumption of operations, adding 7 Mtpy of pellet capacity • Vargem Grande: approval received to start VGR's conveyor belt tests • Fábrica: approval received to start tests at beneficiation plant facilities Serra Norte: Board approval of N3 mining front development (start-up in 2022) • Itabira: removal of Itabiruçu dam emergency level¹ • Timbopeba: Plant's adaptation for tailings disposal at Tim bopeba pit, adding 7 Mtpy capacity 1 Complementary geotechnical investigations are underway to determine the engineering measures for the continuity of the dam raising construction works. VALE O#10We are progressing on resumption plan What is next? 2Q21 3Q21 4Q21 Potential restrictions in 2021 Vargem Grande Unlock conveyor belt capacity Vargem Grande Start-up of Maravilhas III Start-up of filtering plant Brucutu Torto dam start-up Itabira Temporary tailings disposal restrictions due to limited disposal areas +6 Mtpy +4 Mtpy +17 Mtpy -9 Mtpy Fábrica Shift to wet processing Serra Leste Repower crushers Other sites Licensing delays and lower performance (e.g. Mutuca, Serra Norte) +4 Mtpy +2 Mtpy -5 Mtpy Northern System Southeastern System Southern System S11D Crushers' installation to process jaspilite ores +2 Mtpy VALE 10#11VALE