Vale Investor Conference Presentation Deck

0⁰⁰⁰ Discipline in capital allocation Our discipline in capital allocation remains steady Capex 2021: US$ 5.8 bn Onwards: US$ 5.5 bn Expanded Net Debt 4Q 19: US$ 17.8 bn 4Q 20: US$ 13.3 bn Target: US$ 10 bn Return cash to shareholders (Dividends X Buybacks) VALE 9

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