Vale Results Presentation Deck

Ni price realization was 16% up in the quarter 1Q22 Average LME Price Class I Contribution Class II Contribution Intermediates Contribution Nickel Price after Premiums/Discounts Quotational Period (QP) Impact Nickel Price after Premiums/Discounts and QP Impact Fixed Price Sales Hedge Impact 1Q22 Nickel Realized Price 4Q21 Nickel Realized price 1 Average premium is rounded to nearest 5 19.088 1,899 1,969 224 26.395 704 22.195 21 833 24.318 26,285 +16% Product Premiums and Discounts Market Pricing Hedge Impact Category Upper Class I Lower Class I Class II Intermediates² QP Exposure Typical Monthly QP Split Category Hedge Impact Volume (kt Ni) 20 5 9 2 Intermediates mostly refers to PTVI matte, which is typically sold at a percentage of LME price 3 Refers to average settlement price in the quarter LO 5 Previous Period -50% Volume (kt Ni) 12.3 Not subject to margin call - Volumes spread along 2022 - No volatility in earnings due to hedge accounting Average Premium ($/t)¹ 1,250 550 90 (6,480) Current Period -50% Nickel Price ($/t) 20,340³ VALE 12

View entire presentation