Vale Investor Conference Presentation Deck

2022 BofA Securities Global Metals, Mining & Steel Conference Since 2016, forecasts have underestimated iron ore prices Iron ore CFR China price (US$/dmt) Average price performed (US$/dmt) Analysts' median forecast - December previous year (US$/dmt)¹ 130 97 Ili.. 56 2014 135 2012 2013 2015 58 2016 71 2017 1 Median based on estimates from December Y-1 of each year. 2 Up to April 13th, 2022. Median estimate is a yearly forecast. 69 2018 93 2019 109 2020 159 2021 143 | 2022YTD² VALE

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