<SEC-DOCUMENT>0001292814-22-004033.txt : 20221018
<SEC-HEADER>0001292814-22-004033.hdr.sgml : 20221018
<ACCEPTANCE-DATETIME>20221017184106
ACCESSION NUMBER:		0001292814-22-004033
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20220930
FILED AS OF DATE:		20221018
DATE AS OF CHANGE:		20221017

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Vale S.A.
		CENTRAL INDEX KEY:			0000917851
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15030
		FILM NUMBER:		221314577

	BUSINESS ADDRESS:	
		STREET 1:		PRAIA DE BOTAFOGO, 186
		CITY:			RIO DE JANEIRO
		STATE:			D5
		ZIP:			22250-145
		BUSINESS PHONE:		55 21 3485-3900

	MAIL ADDRESS:	
		STREET 1:		PRAIA DE BOTAFOGO, 186
		CITY:			RIO DE JANEIRO
		STATE:			D5
		ZIP:			22250-145

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Companhia Vale do Rio Doce
		DATE OF NAME CHANGE:	20051108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VALLEY OF THE RIO DOCE CO
		DATE OF NAME CHANGE:	20020129

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VALLEY OF THE DOCE RIVER CO
		DATE OF NAME CHANGE:	19950602
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>vale20221017_6k.htm
<DESCRIPTION>6-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="border-top: Black 2pt solid; font-size: 1pt; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">United States</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities and Exchange Commission</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 6-K</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Report of Foreign Private Issuer</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Rule 13a-16 or 15d-16</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">of the</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities Exchange Act of 1934</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> October 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Vale S.A.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Praia de Botafogo n&ordm; 186, 18&ordm; andar,
Botafogo<BR>
22250-145 Rio de Janeiro, RJ, Brazil</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 2in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">(Check One)
Form 20-F <FONT STYLE="font-family: Wingdings">&#120;</FONT> Form 40-F <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(1))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 2in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">(Check One)
Yes <FONT STYLE="font-family: Wingdings">&#168;</FONT> No <FONT STYLE="font-family: Wingdings">&#120;</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: -1.75in; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation&nbsp;S-T Rule&nbsp;101(b)(7))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 2in; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Check
One) Yes </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">No
</FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange
Act of 1934.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 2in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">(Check One)
Yes <FONT STYLE="font-family: Wingdings">&#168;</FONT> No <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 139.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(If &#8220;Yes&#8221; is marked, indicate below the file number assigned
to the registrant in connection with Rule 12g3-2(b). 82-&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;</U>.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0pt"></P>

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<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<IMG SRC="vale202210177k_001.jpg" ALT=""></P>

<P STYLE="color: #007E7A; font: 20pt Vale Sans,sans-serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="color: #007E7A; font: 20pt Vale Sans,sans-serif; margin: 0 0 12pt">Vale&rsquo;s production and sales in 3Q22</P>

<P STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin: 12pt 0 6pt 14.2pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>Rio
de Janeiro, October 17<SUP>th</SUP>, 2022</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.65pt"></TD><TD STYLE="width: 14.75pt">&bull;</TD><TD STYLE="text-align: justify; padding-right: 18.7pt">Iron ore production increased 21% q/q to 89.7 Mt, reflecting the dry season in
the Northern System and higher third-party ore purchases and production in the Southern System.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.65pt"></TD><TD STYLE="width: 14.75pt">&bull;</TD><TD STYLE="text-align: justify; padding-right: 18.7pt">Sales of iron ore fines and pellets increased 6.0% q/q to 77.6 Mt. The usual production-to-sales
gap in Q3 resulted from transiting inventories across the supply chain, which Vale expects to revert in the next quarter, depending on
market conditions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.65pt"></TD><TD STYLE="width: 14.75pt">&bull;</TD><TD STYLE="text-align: justify; padding-right: 18.7pt">Nickel production increased 51% q/q to 51.8 kt, as refineries came back from a
maintenance period in 2Q22 and the conclusion of the furnace 4 rebuild at PTVI. Nickel sales increased 13% q/q, but lagged production
due to sales commitments in 4Q22 during scheduled maintenance, low availability of containerships impacting On&ccedil;a Puma and shipping
congestion in the UK in 3Q22.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.65pt"></TD><TD STYLE="width: 14.75pt">&bull;</TD><TD STYLE="text-align: justify; padding-right: 18.7pt">Copper production increased 33% q/q to 74.3 kt, following extended maintenance
at Sossego mill in the first half of the year, better plant performance at Salobo in the quarter and the recovery of copper from copper
precipitate holding facilities in North Atlantic operations. Copper sales were up 37% q/q, in line with higher production.</TD></TR></TABLE>

<P STYLE="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="color: #747678; font: bold 12pt Arial,sans-serif; margin: 0 0 2pt">&nbsp;</P>

<P STYLE="margin: 0; font-family: Vale Sans Medium,sans-serif; color: #007E7A"><FONT STYLE="font-weight: normal">Production summary</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 15.2pt; font-size: 8pt">
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="font-family: Arial,sans-serif; color: #555555">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: center"><FONT STYLE="font-size: 7.5pt; color: white"><B>% change</B></FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="width: 18%; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt">000&rsquo; metric tons</FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22</B></FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q22</B></FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22</B></FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/2Q22</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/3Q21</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22/9M21</B></FONT></TD>
    <TD STYLE="width: 12%; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&nbsp;2022 Guidance&nbsp;&nbsp;</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 7.1pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Iron ore<SUP>1</SUP></FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">89,701</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">74,108</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">88,689</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">226,937</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">231,222</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">21.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1.1%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-1.9%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">310-320 Mt</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-left: 7.1pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Pellets</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,256</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,672</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,341</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">23,852</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">22,637</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-4.8%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-1.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.4%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">34-38 Mt</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 7.1pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Nickel<SUP>2</SUP></FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">51.8</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">34.2</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">30.2</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">131.8</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">120.2</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">51.5%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">71.5%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9.7%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">175-190 kt</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: #555555 1pt solid; padding-left: 7.1pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Copper</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">74.3</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">55.9</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">69.2</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">186.8</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">219.3</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">32.9%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.4%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-14.8%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">270-285 kt</FONT></TD></TR>
  </TABLE>
<P STYLE="color: #007E7A; font: 1pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="color: #747678; font: bold 12pt Arial,sans-serif; margin: 0 0 2pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>1</SUP>
    Including third-party purchases, run-of-mine and feed for pelletizing plants. Excluding Midwestern System volumes. </FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>2</SUP>
    Nickel production in 2Q22 was restated from 34.8 kt.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 8pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt">&nbsp;</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: bold 12pt Arial,sans-serif; color: #747678; margin: 0 0 2pt">&nbsp;</P>

<P STYLE="font: bold 12pt Arial,sans-serif; color: #747678; margin: 0 0 2pt">&nbsp;</P>


<P STYLE="margin: 0; font-family: Vale Sans Medium,sans-serif; color: #007E7A"><FONT STYLE="font-weight: normal">Sales summary</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 15.2pt; font-size: 8pt">
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="font-family: Arial,sans-serif; color: #555555">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: center">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: center"><FONT STYLE="font-size: 7.5pt; color: white"><B>% change</B></FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="width: 18%; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt">000&rsquo; metric tons</FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q22</B></FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q21</B></FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22</B></FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 14%; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/2Q22</B></FONT></TD>
    <TD STYLE="width: 14%; border-top: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/3Q21</B></FONT></TD>
    <TD STYLE="width: 14%; border-top: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22/9M21</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 7.1pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Iron ore<SUP>1</SUP></FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">69,049</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">64,318</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">66,725</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">185,713</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">190,631</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.4%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.5%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-2.6%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-left: 7.1pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Pellets</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,521</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,843</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,037</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">24,375</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">21,955</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-3.6%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">11.0%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 7.1pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Nickel</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">44.3</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">39.3</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">41.8</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">122.6</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">137.2</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12.7%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-10.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-left: 7.1pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Copper</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">70.5</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">51.5</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">65.4</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">172.2</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">210.8</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">36.9%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.8%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-18.3%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 12pt Arial,sans-serif; color: #747678; margin: 0 0 2pt">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 8pt">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>1</SUP>
    Including third-party purchases and run-of-mine. Excluding Midwestern System volumes.</FONT></P></TD></TR>
  </TABLE>
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<P STYLE="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"></P>

<P STYLE="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">Businesses&rsquo;
highlights in 3Q22</FONT></P>

<P STYLE="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="color: #007E7A; font: 11pt/150% Vale Sans Medium,sans-serif; margin: 12pt 0; text-align: justify">Iron Ore and Pellets operations</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1pt"></TD><TD STYLE="width: 2%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; width: 48%"><FONT STYLE="color: #007E7A; letter-spacing: -0.2pt; line-height: 150%"><B>Northern System</B></FONT><B>
<FONT STYLE="color: #007E7A">production <FONT STYLE="letter-spacing: -0.2pt; line-height: 150%">increased q/q </FONT></FONT></B>benefiting
from the dry weather in third quarter<FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt; color: #747678; line-height: 127%"><SUP>1</SUP></FONT>.
Performance y/y was mainly impacted by lower ROM availability at Serra Norte, due to slower licensing processes. At S11D, mine movement
was flat y/y, but the need to process more waste yielded a lower strip ratio and iron ore production.</TD>
    <TD STYLE="text-align: center; width: 49%"><IMG SRC="vale202210177k_002.jpg" ALT="">&nbsp;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A; letter-spacing: -0.2pt; line-height: 150%"><B>Southeastern System production
was flat q/q</B></FONT>.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A"><B>Southern System production increased q/q</B></FONT> mainly due to (i)
higher third-party purchases; (ii) additional production and sales of run-of-mine from Paraopeba Complex; and (iii) solid performance
at Vargem Grande, boosted by several productivity initiatives implemented in the previous quarters.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A; letter-spacing: -0.2pt; line-height: 150%"><B>Pellets production was slightly
lower q/q</B></FONT>. As a result of portfolio optimization and market conditions, Vale decided to prioritize production of direct reduction
pellets in Oman plants.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: -0.1pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A; letter-spacing: -0.2pt; line-height: 150%"><B>All-in premium totalled US$
6.6/t</B></FONT><B><FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt; color: #007E7A; letter-spacing: -0.2pt; line-height: 127%"><SUP>2</SUP></FONT></B>
(vs. US$ 7.3/t in 2Q22) due to lower market premiums for low-alumina products and the absence of seasonal JV&rsquo;s dividends. The negative
effect was partially offset by record contractual pellet premiums and an improved product portfolio quality mix with a larger share of
blended products.</TD></TR></TABLE>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0"><FONT STYLE="color: #A6A6A6; line-height: 127%"><SUP>1</SUP></FONT>
Rainfall level: 31 mm at Serra Norte in 3Q22 (vs. 227 mm in 2Q22) and 36 mm at S11D in 3Q22 (vs. 237 mm in 2Q22).</P>

<P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0"><FONT STYLE="color: #A6A6A6; line-height: 127%"><SUP>2</SUP></FONT>
Iron ore premium of US$ 0.6/t and weighted average contribution of pellets of US$ 6.0/t.</P>
<P STYLE="font: 10pt Arial,sans-serif; color: #747678; margin: 12pt 0; text-align: justify"><FONT STYLE="font-family: Vale Sans Medium,sans-serif; font-size: 11pt; color: #007E7A"><BR STYLE="clear: both">
</FONT></P>


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<P STYLE="color: #007E7A; font: 11pt/150% Vale Sans Medium,sans-serif; margin: 12pt 0; text-align: justify">Nickel operations</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1pt"></TD><TD STYLE="width: 2%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify; width: 48%"><FONT STYLE="color: #007E7A"><B>Finished nickel production from Sudbury sourced ore rose 5.1 kt q/q, reaching
12.2 kt, the highest production level since 1Q21. </B></FONT>This was mainly due to a strong performance at Copper Cliff Refinery after
scheduled maintenance during 2Q22.</TD>
    <TD STYLE="text-align: center; width: 49%"><IMG SRC="vale202210177k_003.jpg" ALT="">&nbsp;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A"><B>Finished nickel production from Thompson sourced ore increased 35% q/q</B></FONT>,
as 2Q22 was impacted by scheduled maintenance at Long Harbour Refinery.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A"><B>Finished nickel production from Voisey&rsquo;s Bay sourced ore was 1.8
kt lower q/q</B></FONT> as we proceed with the ongoing transitional period between the depletion of Ovoid mine and ramp-up to full production
of the Voisey&rsquo;s Bay underground project.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; color: #555555">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A"><B>Finished nickel production from third parties increased 3.1 kt q/q</B></FONT>
as refineries returned to full operation after maintenance in 2Q22. Consumption of feed from third parties is expected to remain at higher
levels than in recent years, aiming to maximize the utilization and performance of our downstream operations.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0">&nbsp;</TD>
  <TD STYLE="text-align: justify; width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: 0pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; letter-spacing: 0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A; letter-spacing: 0pt"><B>Finished nickel production from Indonesia sourced material was 10.1 kt higher q/q</B></FONT>,
in line with the 39% increase to 17.5 kt in Nickel in matte production following completion of the furnace 4 rebuild. In addition, both
downstream refineries, Clydach and Matsusaka, performed well during the quarter after maintenance during 2Q22.</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol; letter-spacing: -0.1pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A"><B>On&ccedil;a Puma <FONT STYLE="letter-spacing: -0.1pt">continued to perform
well, with nickel production increasing 8% q/q. </FONT></B></FONT><FONT STYLE="letter-spacing: -0.1pt">The annual maintenance of the kiln
is scheduled in 4Q22.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A"><B>Nickel sales were 13% higher q/q but lower than 3Q22 production</B></FONT><FONT STYLE="letter-spacing: -0.1pt">.
This reflected (i) inventory buildup to meet sales commitments during planned maintenance at Long Harbour and Matsusaka in 4Q22; (ii)
logistics issues at On&ccedil;a Puma resulting from low availability of containerships at Vila do Conde during the quarter; and (iii)
shipping congestion at UK ports impacting Clydach. Nickel sales are expected to revert in 4Q22.</FONT></TD></TR></TABLE>

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<P STYLE="color: #747678; font: 10pt Arial,sans-serif; margin: 0">&nbsp;</P>

<P STYLE="color: #007E7A; font: 11pt/150% Vale Sans Medium,sans-serif; margin: 12pt 0; text-align: justify">Copper operations</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1pt"></TD><TD STYLE="width: 2%"><FONT STYLE="font-family: Symbol; color: #555555">&middot;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.5pt; width: 48%"><FONT STYLE="color: #007E7A"><B>Sossego copper production</B></FONT> was 13.3 kt
higher q/q following the conclusion of extended SAG mill maintenance in June. The y/y performance was negatively impacted by corrective
maintenance at the plant in September, which continued into 4Q22.</TD>
    <TD STYLE="text-align: center; width: 49%"><IMG SRC="vale202210177k_004.jpg" ALT="">&nbsp;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A"><B>Salobo copper production </B></FONT>increased 5.1 kt q/q, despite additional
planned and corrective maintenance performed in 3Q22. Consistent with our focus on plant reliability, planned maintenance activities will
continue in 4Q22.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 0; margin-bottom: 2pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A"><B>Copper production in Canada </B></FONT>was flat q/q, as planned maintenance
in Sudbury mines and mill in the quarter was offset by (i) the recovery of metal from copper precipitate holding facilities in Thompson,
as part of our approach to sustainable mining; (ii) stable performance at Voisey&rsquo;s Bay mill following planned maintenance in 2Q22;
and (iii) higher copper produced from third-party feed, consistent with increased third-party feed consumption.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin-top: 12pt; margin-bottom: 2pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #007E7A"><B>Copper sales<FONT STYLE="font-family: Arial,sans-serif; font-size: 10pt; line-height: 127%"><SUP>3</SUP></FONT>
were higher q/q,</B></FONT> in line with higher production.</TD></TR></TABLE>

<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0"><FONT STYLE="line-height: 127%"><SUP>3</SUP></FONT> Sales
volumes are lower compared to production volumes due to payable copper vs. contained copper: part of the copper contained in the concentrates
is lost in the smelting and refining process, hence payable quantities of copper are approximately 3.5% lower than contained volumes.</P>

<P STYLE="color: gray; font: 10pt/150% Arial,sans-serif; margin: 12pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="color: gray; font: 10pt Arial,sans-serif; margin: 0">&nbsp;</P>

<P STYLE="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal; letter-spacing: -0.2pt">ANNEX
- </FONT><FONT STYLE="font-weight: normal">Production and sales summary</FONT></P>

<P STYLE="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="color: #747678; font: bold 12pt Arial,sans-serif; margin: 0 0 2pt">&nbsp;</P>


<P STYLE="margin: 0; font-family: Vale Sans Medium,sans-serif; color: #007E7A"><FONT STYLE="font-weight: normal">Iron ore</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 15.2pt; font-size: 8pt">
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="font-family: Arial,sans-serif; color: #555555">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: center"><FONT STYLE="font-size: 7.5pt; color: white"><B>% change</B></FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="width: 30%; border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt">000&rsquo; metric tons</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q22</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q21</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/2Q22</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/3Q21</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22/9M21</B></FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Northern System</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>49,652</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>39,073</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>53,020</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>126,457</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>138,814 </B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>27.1%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-6.4%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-8.9%</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.5pt">Serra Norte and Serra Leste</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">30,678</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">22,548</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">31,961</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">75,812</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">84,177</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">36.1%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-4.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-9.9%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">S11D</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">18,974</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">16,525</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">21,059</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">50,646</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">54,637</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">14.8%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-9.9%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-7.3%</FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Southeastern System</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>19,725</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>19,557</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>19,532</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>54,237</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>51,121</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>0.9%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1.0%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>6.1%</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Itabira (Cau&ecirc;, Concei&ccedil;&atilde;o and others)</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7,017</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7,061</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7,795</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">20,276</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">20,709</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-0.6%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-10.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-2.1%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Minas Centrais (Brucutu and others)</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5,845</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5,950</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5,696</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">15,364</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">14,642</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-1.8%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.6%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.9%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Mariana (Alegria, Timbopeba and others)</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,864</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,547</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,041</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">18,599</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">15,770</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.8%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">13.6%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17.9%</FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Southern System</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>20,324</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>15,477</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>16,138</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>46,244</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>41,287</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>31.3%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>25.9%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>12.0%</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Paraopeba (Mutuca, F&aacute;brica and others)</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10,725</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,968</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,867</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">21,703</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">18,083</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">53.9%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">56.2%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">20.0%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Vargem Grande (Vargem Grande, Pico and others)</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9,599</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,510</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9,271</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">24,541</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">23,204</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12.8%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.5%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.8%</FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>IRON ORE PRODUCTION<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>89,701</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>74,108</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>88,689</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>226,937</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>231,222</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>21.0%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1.1%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-1.9%</B></FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>IRON ORE SALES<SUP>2</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>69,049<SUP>3</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>64,318</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>66,725</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>185,713</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>190,631</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>7.4%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3.5%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-2.6%</B></FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>IRON ORE AND PELLETS SALES<SUP>2</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>77,569</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>73,161</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>74,762</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>210,088</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>212,586</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>6.0%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3.8%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-1.2%</B></FONT></TD></TR>
  </TABLE>
  <TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 8pt">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>1</SUP>
    Including third party purchases, run-of-mine and feed for pelletizing plants. Excluding Midwestern System volumes. Vale&rsquo;s product
    portfolio Fe content reached 62.1%, alumina 1.4% and silica 6.4% in 3Q22.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>2</SUP>
    Including third-party purchases and run-of-mine. Excluding Midwestern System volumes.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>3</SUP>
    Run-of-mine sales totalled 3.7 Mt in 3Q22.</FONT></P></TD></TR>
  </TABLE>
<P STYLE="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 12pt Vale Sans Medium,sans-serif; color: #007E7A; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">Pellets</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 15.2pt; font-size: 8pt">
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: center"><FONT STYLE="font-size: 7.5pt; color: white"><B>% change</B></FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="white-space: nowrap; width: 30%; border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt">000&rsquo; metric tons</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">3Q22</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">2Q22</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">3Q21</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">9M22</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">9M21</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">3Q22/2Q22</FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">3Q22/3Q21</FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">9M22/9M21</FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Northern System</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>899</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>836</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>1,020</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>2,473</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>2,729</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>7.5%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>-11.9%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>-9.4%</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">&nbsp;&nbsp;S&atilde;o Luis</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">899</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">836</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,020</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,473</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,729</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">7.5%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-11.9%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-9.4%</FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Southeastern System</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3,284</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>4,088</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>4,357</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>11,061</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>11,930</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-19.7%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-24.6%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-7.3%</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">&nbsp;&nbsp;Itabrasco (Tubar&atilde;o 3)</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">525</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">930</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">972</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,765</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,297</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-43.5%</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-46.0%</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-23.2%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="white-space: nowrap; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">&nbsp;&nbsp;Hispanobras (Tubar&atilde;o 4)</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">169</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-100.0%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">&nbsp;&nbsp;Nibrasco (Tubar&atilde;o 5 and 6)</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">349</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">921</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,069</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,334</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,742</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-62.1%</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-67.4%</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-14.9%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="white-space: nowrap; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">&nbsp;&nbsp;Kobrasco (Tubar&atilde;o 7)</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">924</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">963</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">826</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,856</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,236</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-4.0%</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">11.9%</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">27.7%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">&nbsp;&nbsp;Tubar&atilde;o 8</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,485</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,273</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,490</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">4,104</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">4,486</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">16.7%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-0.3%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-8.5%</FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Southern System</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1,268</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1,136</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>803</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3,083</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,434</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>11.6%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>57.9%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>26.7%</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="white-space: nowrap; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">&nbsp;&nbsp;F&aacute;brica</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">&nbsp;&nbsp;Vargem Grande</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,268</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,136</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">803</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">3,083</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,434</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">11.6%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">57.9%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">26.7%</FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Oman</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,805</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,612</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,161</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>7,235</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>5,544</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>7.4%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>29.8%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>30.5%</B></FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>PELLETS PRODUCTION</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,256</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,672</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,341</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>23,852</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>22,637</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-4.8%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-1.0%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>5.4%</B></FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>PELLETS SALES</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,521</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,843</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,037</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>24,375</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>21,955</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-3.6%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>6.0%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>11.0%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="color: #747678; font: bold 12pt Arial,sans-serif; margin: 0 0 2pt">&nbsp;</P>


<P STYLE="margin: 0; font-family: Vale Sans Medium,sans-serif; color: #007E7A"><FONT STYLE="font-weight: normal">Nickel - Finished production
by source</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 15.2pt; font-size: 8pt">
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="font-family: Arial,sans-serif; color: #555555">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: center"><FONT STYLE="font-size: 7.5pt; color: white"><B>% change</B></FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="width: 30%; border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt">000&rsquo; metric tons</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q22</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q21</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/2Q22</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/3Q21</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22/9M21</B></FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Canada</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>20.0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>16.1</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>12.4</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>55.1</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>58.0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>24.2%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>61.3%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-5.0%</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Sudbury<SUP>1</SUP></FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12.2</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.1</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.4</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">27.9</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">23.4</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">71.8%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">408.3%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">19.2%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Thompson</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.7</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.0</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.6</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.7</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.8</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">35.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">350.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">60.4%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Voisey's Bay</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.1</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6.9</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9.4</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">19.5</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">29.8</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-26.1%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-45.7%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-34.6%</FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Indonesia</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>19.2</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9.1</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>15.1</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>45.9</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>45.0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>111.0%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>27.2%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2.0%</B></FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>6.8</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>6.3</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2.2</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>18.5</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>13.7</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>7.9%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>209.1%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>35.0%</B></FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Feed from third-parties<SUP>2</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>5.8</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2.7</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>0.6</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>12.3</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3.5</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>114.8%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>866.7%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>251.4%</B></FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white"><B>NICKEL PRODUCTION</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>51.8</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>34.2</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>30.2</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>131.8</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>120.2</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>51.5%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>71.5%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9.7%</B></FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white"><B>NICKEL SALES</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>44.3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>39.3</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>41.8</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>122.6</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>137.1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>12.7%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>6.0%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-10.6%</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 8pt">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>1</SUP>
    Sudbury nickel production in 2Q22 was restated from 7.7 kt.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>2</SUP>
    External feed purchased from third parties and processed into finished nickel in our Canadian operations.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"></FONT></P></TD></TR>
  </TABLE>
<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Gray 1pt solid"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">Copper - Finished
production by source</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 15.2pt; font-size: 8pt">
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="font-family: Arial,sans-serif; color: #555555">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: center"><FONT STYLE="font-size: 7.5pt; color: white"><B>% change</B></FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="width: 30%; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt">000&rsquo; metric tons</FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q22</B></FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q21</B></FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22</B></FONT></TD>
    <TD STYLE="width: 8%; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/2Q22</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/3Q21</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22/9M21</B></FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>53.4</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>35.0</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>63.4</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>126.1</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>168.7</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>52.6%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-15.8%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-25.3%</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Salobo</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">34.7</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">29.6</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">38.0</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">98.3</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">110.8</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17.2%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-8.7%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-11.3%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Sossego</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">18.7</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.4</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">25.4</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">27.8</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">57.9</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">246.3%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-26.4%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-52.0%</FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white"><B>Ca<FONT STYLE="letter-spacing: -0.2pt">nada</FONT></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>20.9</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>20.9</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>5.8</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>60.7</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>50.7</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>0.0%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>260.3%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>19.7%</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Sudbury</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12.3</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">16.9</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1.0</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">43.1</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">33.4</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-27.2%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1130.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">29.0%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Thompson</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.6</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.2</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.1</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.3</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1,700.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">N/A</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1266.7%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Voisey's Bay</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.3</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.5</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.6</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8.9</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">15.2</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">32.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-28.3%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-41.4%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Feed from third parties</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1.7</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1.3</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.3</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.6</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">30.8%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">466.7%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">130.0%</FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white"><B>COPPER PRODUCTION</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>74.3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>55.9</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>69.2</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>186.8</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>219.3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>32.9%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>7.4%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-14.8%</B></FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white"><B>COPPER SALES</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>70.5</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>51.5</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>65.4</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>172.2</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>210.8</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>36.9%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>7.8%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-18.3%</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Copper Sales Brazil</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">52.9</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">34.6</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">62.3</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">121.6</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">163.5</FONT></TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">53.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-15.0%</FONT></TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-25.6%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: #555555 1pt solid; padding-left: 12.95pt; font-family: Arial,sans-serif; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Copper Sales Canada</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17.6</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">16.9</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.1</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">50.6</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">47.3</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.1%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">467.7%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.0%</FONT></TD></TR>
  </TABLE>
<P STYLE="color: #747678; font: bold 12pt Arial,sans-serif; margin: 0 0 2pt">&nbsp;</P>


<P STYLE="margin: 0; font-family: Vale Sans Medium,sans-serif; color: #007E7A"><FONT STYLE="font-weight: normal">Base Metals by-products
- Finished production </FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; margin-bottom: 15.2pt; font-size: 8pt">
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="font-family: Arial,sans-serif; color: #555555">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="font-family: Arial,sans-serif; color: #555555; text-align: right">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: center"><FONT STYLE="font-size: 7.5pt; color: white"><B>% change</B></FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="width: 30%; border-bottom: white 1pt solid; padding-left: 6.45pt; font-family: Arial,sans-serif; color: #555555">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q22</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q21</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M21</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 10%; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/2Q22</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3Q22/3Q21</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: white 1pt solid; border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9M22/9M21</B></FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; padding-left: 5.6pt; color: #747678"><FONT STYLE="font-size: 7.5pt">COBALT <SUB>(000&rsquo; metric tons)</SUB></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">609</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">541</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">452</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1,906</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1,919</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12.6%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">34.7%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-0.7%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; padding-left: 5.6pt; color: #747678"><FONT STYLE="font-size: 7.5pt">PLATINUM <SUB>(000&rsquo; oz troy)</SUB></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">32</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">21</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">76</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">62</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">52.4%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1,500.0%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">22.6%</FONT></TD></TR>
  <TR STYLE="background-color: #F2F2F2">
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; padding-left: 5.6pt; color: #747678"><FONT STYLE="font-size: 7.5pt">PALLADIUM <SUB>(000&rsquo; oz troy)</SUB></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">37</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">28</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">94</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">79</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">32.1%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">825.0%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">19.0%</FONT></TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-bottom: white 1pt solid; font: 10pt Arial,sans-serif; padding-left: 5.6pt; color: #747678"><FONT STYLE="font-size: 7.5pt">GOLD <SUB>(000&rsquo; oz troy)</SUB><SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">84</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">60</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">93</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">216</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">275</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">40.0%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-9.7%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-21.5%</FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="border-bottom: white 1pt solid">
    <P STYLE="color: white; font: 7.5pt Arial,sans-serif; margin: 0 0 0 6.45pt"><B>TOTAL BY-PRODUCTS </B></P>
    <P STYLE="color: white; font: 7.5pt Arial,sans-serif; margin: 0 0 0 6.45pt"><B><SUB>(000&rsquo; metric tons Cu eq.)</SUB><SUP>2 3</SUP></B></P></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>41</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>28</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>23&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>101</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>108</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>46.4%&nbsp;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>78.3%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-family: Arial,sans-serif; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-6.5%</B></FONT></TD></TR>
  </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 8pt">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>1</SUP>
    Includes gold from Copper and Nickel operations. </FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>2</SUP>
    Includes iridium, rhodium, ruthenium and silver.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow,sans-serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>3</SUP>
    Copper equivalent tonnes calculated using average market metal prices for each quarter. Market reference prices: for copper, cobalt, gold
    and silver: LME spot; for Platinum and Palladium: NYMEX spot; for other PGMs: Johnson Matthey.</FONT></P></TD></TR>
  </TABLE>
<P STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin: 12pt 0; text-align: justify">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="color: gray; font: 11pt/130% Arial,sans-serif; margin: 0"><B>Further information on Vale can be found at: vale.com</B></P>

<P STYLE="color: gray; font: 11pt/130% Arial,sans-serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="color: #007E7A; font: 12pt/130% Vale Sans Medium,sans-serif; margin: 0">Investor Relations</P>

<P STYLE="color: gray; font: 11pt/130% Arial,sans-serif; margin: 12pt 0 0">Vale IR: vale.ri@vale.com</P>

<P STYLE="color: gray; font: 11pt/130% Arial,sans-serif; margin: 0">Ivan Fadel: ivan.fadel@vale.com</P>

<P STYLE="color: gray; font: 11pt/130% Arial,sans-serif; margin: 0">Mariana Rocha: mariana.rocha@vale.com</P>

<P STYLE="color: gray; font: 11pt/130% Arial,sans-serif; margin: 0">Samir Bassil: samir.bassil@vale.com</P>

<P STYLE="color: #007E7A; font: 10pt Vale Sans Medium,sans-serif; margin: 0"><FONT STYLE="letter-spacing: -0.2pt"><B>&nbsp;</B></FONT></P>

<P STYLE="color: #999999; font: 9pt Arial,sans-serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 8pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: #BBBBBB 1pt solid; font: 10pt/130% Arial,sans-serif; color: #747678">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="color: #999999; font: 9pt Arial,sans-serif; margin: 0; text-align: justify">This press release may include statements about
Vale's current expectations about future events or results (forward-looking statements). Many of those forward-looking statements can
be identified by the use of forward-looking words such as &quot;anticipate,&quot; &quot;believe,&quot; &quot;could,&quot; &quot;expect,&quot;
&quot;should,&quot; &quot;plan,&quot; &quot;intend,&quot; &quot;estimate&quot; &ldquo;will&rdquo; and &quot;potential,&quot; among others.
All forward-looking statements involve various risks and uncertainties. Vale cannot guarantee that these statements will prove correct.
These risks and uncertainties include, among others, factors related to: (a) the countries where Vale operates, especially Brazil and
Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production,
which is cyclical by nature; and (e) global competition in the markets in which Vale operates. Vale cautions you that actual results may
differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation. Vale undertakes no
obligation to publicly update or revise any forward-looking statement, whether as a result of new information or future events or for
any other reason. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult
the reports that Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comiss&atilde;o de Valores Mobili&aacute;rios
(CVM) and, in particular, the factors discussed under &ldquo;Forward-Looking Statements&rdquo; and &ldquo;Risk Factors&rdquo; in Vale&rsquo;s
annual report on Form 20-F.</P>

<P STYLE="color: #747678; font: 10pt/150% Arial,sans-serif; margin: 12pt 0; text-align: justify">&nbsp;</P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Gray 1pt solid"><P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="margin: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Signatures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">Vale S.A.<BR>
    (Registrant) &nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%">/s/ Ivan Fadel</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">Date:  October 17, 2022</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0in">Head of Investor Relations</TD></TR>
  </TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0pt"></P>



<P STYLE="margin: 0pt"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
