Vale Investor Day Presentation Deck

44 3 Maximize flight-to-quality in Iron Ore Capacity resumption is key to remove inefficiencies and promote cost savings... Timbopeba site Production costs (US$/t) ■ ■ 27 2021 -20% 21 2022 -29% 15 Medium term 2022: 12% production increase in 2022 and normalized railway operations Note: Production costs includes C1 cash costs and stoppage expenses. Medium-term: Start-up of Capanema project in 2H23 with dry processing Vargem Grande complex Production costs (US$/t) 2021 -5% 2021 2022 +31% Brucutu site Production costs (US$/t) -34% -11% 2022 Medium term Medium term ■ I ■ I 2022: Resumption conveyor belt in 4Q21, reducing use of trucks Medium-term: Capacity reaching over 50 Mtpy, with fixed cost dilution 2022: Ramp-up of tailings filtration plants (new way to operate) and reduction of the share of dry/high- silica products, increasing costs Medium-term: Capacity reaching over 28 Mtpy, with fixed cost dilution VALE

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