Vale Results Presentation Deck

Vale's Performance in 2022: Finance Realized price impacted by provisional prices and sales mix Iron ore fines' price realization - 2022 US$/t Vale's realized price (US$/wmt) 137,9 Average Reference Price 2022 (dmt) 1.1 Quality and premiums Sale of high-silica ores benefiting from higher market prices 3,9 Provisional prices in prior quarter ● ● 23% of 1022 sales (12 Mt) provisioned at US$158.1/t Negative effect on 2022 revenue of US$ 247 million 1.9 Lagged prices 0.5 Current prices Impact of pricing system adjustments 3,7 ● 21% of 2022 sales (13 Mt) provisioned at US$ 119.9/t vs. US$ 137.9/t 2022 avg. Negative effect on 2022 revenue of US$ 232 million Provisional prices in current quarter 113.3 128.9 CFR reference (dmt) 1 Includes quality (US$ 0.0/t) and premiums/discounts and commercial conditions (US$ 1.1/t) 2 Adjustment as a result of provisional prices booked in 1022 at US$ 158.1/t. 3 Difference between the weighted average of the prices provisionally set at the end of 2022 at US$ 119.9/t based on forward curves and US$137.9/t from the 2022 62% Fe reference price. 4Includes freight pricing mechanisms of CFR sales freight recognition. 5 Vale's price is net of taxes. VALE

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