Vale Investor Day Presentation Deck

A world requiring green materials Steel industry transformation started, strongly driven by GHGE reduction regulations Conceptual view of GHGE reduction in steelmaking (100% basis) 100 Possible GHGE reduction curve after China's announcement 2020 Winning tech(s) will be proven in Pathway Definition phase Regulatory pressure -30% CO₂ Phase 1 Pathway Definition 2030 Source: BCG Steel Model, BCG Analysis, IEA and Vale's analysis. ¹ IEA - Iron and Steel Technology Roadmap 2020. Steelmakers public commitments (15+ DRI plants to be built by European steelmakers alone over the next 20 years) 2040 Phase 2 Decarbonization Run CO₂ neutrality 2050 X Illustrative CO₂ neutrality Phase 3 Mainstream Adoption 2060 VALE 4

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