Vale Results Presentation Deck

Price spreads have increased driven by high coal costs and the impact of current supply limitations on iron ore quality Spreads to IODEX 62% (US$/dmt) 40 30 20 10 0 -10 -20 -30 -40 -50 -60 -70 MB 65% Fe MB 62% Fe Low Alumina MB 58% Fe трал Ampatualmen muntany Note: last data from Februray 24th 2022. 2019 mentumm 2020 придринс 2021 way پاس Maana +$28.2/t +$5.0/t -$48.5/t 2022 $77/t spread entre 65% Fe e 58% Fe VALE 21

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