Vale Investor Day Presentation Deck

75 5 Discipline in capital allocation | Re-rating A disciplined capital allocation focused on shareholder return... Free cash flow returned to shareholder US$ billion Others¹ Share buyback Extraordinary dividends Ordinary dividends Free cash flow returned to shareholder (%) 50% 8.9 1,4 1.0 1,9 2018 8.1 2019 36% 9.2 0.9 2,4 2020 90% 20.1 4,8 5,9 7,6 Up until 3Q21 1 Including liability management, financial guarantees, acquisitions and sale of assets. Including dividends and interest on capital. Minimum dividend policy Extraordinary dividends Share buyback program Through the cycle Return surplus cash Attractive investment VALE

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