Vale Results Presentation Deck

Vale's Performance in 2022: Iron Ore Sales strategy and suppy-chain flexibility allows value maximization 10 indexes spread vs. benchmark 62% Index US$/t 40 30 20 10 -10 -20 -30 -40 -50 -60 -70 MB 65%Fe MB 62%Fe Low Alumina 1H21 2H21 MB 58%Fe чтовымматикий 1H22 трити 2Q22 2H22 Medium & Long term ● ● ● • Seasonal higher volumes in Northern System Positive impact on Vale's avg. quality premiums by mix ● Lower silica discounts driven by negative steel margins More high-silica products impacting Vale's mix, but maximizing value ● Industry's lower availability of low alumina products • Transition to more direct reduction demand and carbon pricing • Structural higher premiums VALE

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