Vale Investor Day Presentation Deck

72 5 Discipline in capital allocation | Reshaping ... leading to a significant decrease of our cash drains US$ million VNC¹ Moatize Samarco² Others³ Total 2019 370 790 100 220 1,480 2020 300 1,140 160 300 1,900 2021E 2022 onwards 70 320 20 40 450 Main measures ▪ VNC was sold to Trafigura consortium in 1Q21 ▪ Achieved break-even in 3Q21 ▪ Sale process is advanced I Operations resumption in Dec/20 Biopalma was sold in Nov/20 ▪ CSP being positively impacted by market environment 1 VNC result in 2021 does not consider the US$ 555 million paid for the divestment. 3 Including Samarco's working capital needs. 3 Including Biopalma and CSP needs VALE

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