Vale's Performance in 3Q22

Vale's Performance in 3Q22: Iron Ore Market conditions impacting short-term premiums, but long-term trend is intact Vale's all-in premiums Mt Pellet adjustment Quality adjustment 65%Fe index spread¹ 62% Fe LA index spread¹ 28.6 5.0 (22.9 9.1 12.5 (3.7) 1.8 7.3 6.6 4.7 6.2 6.0 4.4 1.1 0.6 1Q22 2Q22 3Q22 1 Vs. 62%Fe reference price index. 2022 YTD Lower quality market premiums driven by lower steel margins Undersupply in the pellet market Medium & long term . Industry's lower availability of low alumina products Transition to more direct reduction demand and carbon pricing • Structural higher premiums VALE

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