Vale Results Presentation Deck

FCF impacted by accrual sales and pricing mechanism Free Cash Flow (US$ million) 6,959 2,293 ● Settlements with clients: pricing system mechanism and the sharp price decline in 2H21 Higher accrual sales volume (18.1Mt in 4Q21 versus 8.7 Mt in 3Q21) 1,293 EBITDA Working Brumadinho proforma capital expenses¹ 4Q21 +US$ 0.9 bn vs. 3Q21 952 Income taxes & REFIS 1,831 CAPEX 765 Others² 784 175 Free Cash Cash Increase in Flow from management cash & cash Operations & others 3 equivalents 609 1 Includes US$ 1.088 billion of disbursement of Brumadinho provisioned expenses, US$ 189 million of Brumadinho incurred expenses and US$ 16 million of COVID-19 expenses. 2 Includes interest on loans, derivatives, leasing, dividends paid to noncontrolling interest, payments to Samarco and others. 3 Includes US$ 1.259 billion from the Mosaic divestment and US$ 226 million of net debt funding, offset by US$ 701 million of share buyback, VALE 24

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