<SEC-DOCUMENT>0001292814-24-002767.txt : 20240717
<SEC-HEADER>0001292814-24-002767.hdr.sgml : 20240717
<ACCEPTANCE-DATETIME>20240716190813
ACCESSION NUMBER:		0001292814-24-002767
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20240630
FILED AS OF DATE:		20240717
DATE AS OF CHANGE:		20240716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Vale S.A.
		CENTRAL INDEX KEY:			0000917851
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15030
		FILM NUMBER:		241120704

	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>vale20240716_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: 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">July 2024</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>

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

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<P STYLE="text-align: center; color: #747678; font: 12pt/150% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><IMG SRC="vale202407166k_001.jpg" ALT=""></P>



<P STYLE="color: #747678; font: 20pt Caecilia LT Std; margin: 0 0 0.25in">&nbsp;</P>

<P STYLE="margin: 0; font-family: Vale Sans,sans-serif; color: #007E7A"><B>Vale&rsquo;s production and sales in 2Q24</B></P>

<P STYLE="color: #747678; font: 10pt/150% Arial, Helvetica, Sans-Serif; margin: 12pt 0 6pt 14.2pt; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt"><B>Rio
de Janeiro, July 16<SUP>th</SUP>, 2024</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #007E7A; font: 10pt/150% Arial, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.6pt"></TD><TD STYLE="width: 14.75pt"><FONT STYLE="font-size: 9.5pt">&bull;</FONT></TD><TD STYLE="text-align: justify; padding-right: 18.7pt"><FONT STYLE="font-size: 9.5pt"><B>Vale&rsquo;s Q2 performance was marked by a significant
7.3% y/y increase in iron ore sales and consistent performance at S11D, achieving record production for a second quarter. On copper, Salobo
production increased 8% y/y. On nickel, production sourced from Voisey&rsquo;s Bay increased 41% y/y on the back of VBME ramp-up. </B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.6pt"></TD><TD STYLE="width: 14.75pt"><FONT STYLE="font-size: 9.5pt">&bull;</FONT></TD><TD STYLE="text-align: justify; padding-right: 18.7pt"><FONT STYLE="font-size: 9.5pt">Iron ore production reached 80.6 Mt in Q2, 1.9 Mt
higher y/y, supported by a robust performance at S11D and Vargem Grande. This quarter&rsquo;s performance reinforces our confidence in
achieving the upper end of the 2024 production guidance. Pellets production totaled 8.9 Mt, slightly lower y/y. Iron ore sales reached
79.8 Mt, 5.4 Mt (+7.3%) higher y/y.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.6pt"></TD><TD STYLE="width: 14.75pt"><FONT STYLE="font-size: 9.5pt">&bull;</FONT></TD><TD STYLE="text-align: justify; padding-right: 18.7pt"><FONT STYLE="font-size: 9.5pt">Copper production totaled 78.6 kt, flat y/y, as
a better performance at the Salobo 1&amp;2 and Sossego plants was offset by the bi-annual maintenance in Sudbury. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="color: #747678; font: 10pt/150% Arial, Helvetica, Sans-Serif; margin-top: 6pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 13.6pt"></TD><TD STYLE="width: 14.75pt"><FONT STYLE="font-size: 9.5pt">&bull;</FONT></TD><TD STYLE="text-align: justify; padding-right: 18.7pt"><FONT STYLE="font-size: 9.5pt">Nickel production totaled 27.9 kt, 24% lower y/y,
mainly reflecting the planned maintenance strategy at the nickel processing plants.</FONT></TD></TR></TABLE>

<P STYLE="color: #747678; font: 1pt/150% Arial, Helvetica, Sans-Serif; margin: 6pt 18.7pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="color: #747678; font: 8pt/150% Arial, Helvetica, Sans-Serif; margin: 6pt 18.7pt 0 0; text-align: justify">&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="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 32%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt">000&rsquo; metric tons</FONT></TD>
    <TD STYLE="width: 7%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q24</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 7%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q23</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H24</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H23</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2024 guidance</B></FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Iron ore<SUP>1</SUP></FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">80,598</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">70,826<SUP>3</SUP></FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">13.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">78,743</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.4%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">151,424</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">145,517</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.1%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">310-320 Mt</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Pellets</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,895</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,467</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9,111</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-2.4%</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17,362</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17,429</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-0.4%</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">38-42 Mt<SUP>2</SUP></FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Copper</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">78.6</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">81.9</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-4.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">78.8</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-0.3%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; padding-left: 5.65pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">160.5</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">145.9</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10.0%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">320-355 kt</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Nickel</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">27.9</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">39.5</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-29.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">36.9</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-24.4%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">67.3</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">77.9</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-13.6%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">160-175 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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, 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. </FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>2</SUP>
    Iron ore agglomerates guidance, including iron ore pellets and briquettes.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>3
</SUP>Restated from historical figures.</FONT></P></TD></TR>
  </TABLE>
<P STYLE="color: #007E7A; font: 10pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="color: #555555; font: 8pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 24%; background-color: #0ABB98; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt">000&rsquo; metric tons</FONT></TD>
    <TD STYLE="width: 9%; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q24</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 11%; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 9%; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 11%; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q23</B></FONT></TD>
    <TD STYLE="width: 9%; background-color: #007E7A; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 9%; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H24</B></FONT></TD>
    <TD STYLE="width: 9%; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H23</B></FONT></TD>
    <TD STYLE="width: 9%; background-color: #007E7A; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Iron ore</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">79,792</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">63,826</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">25.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">74,374</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.3%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">143,618</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">130,032</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">10.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 0.7pt; padding-left: 12.7pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Fines<SUP>1</SUP></FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">68,512</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">52,546</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">30.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">63,329</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8.2%</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">121,058</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">109,190</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">10.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 12.7pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Pellets</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,864</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9,225</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-3.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,809</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.6%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">18,089</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">16,942</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">6.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 0.7pt; padding-left: 12.7pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">ROM</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2,416</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2,056</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2,236</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8.1%</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4,471</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3,900</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">14.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Co<FONT STYLE="background-color: #F2F2F2">pper</FONT></FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">76.1</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">76.8</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-0.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">73.8</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.1%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">152.9</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">136.5</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">12.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Nickel</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">34.3</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">33.1</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">40.3</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-14.9%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">67.4</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">80.4</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-16.2%</FONT></TD></TR>
  </TABLE>
<P STYLE="color: #007E7A; font: 4pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, 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. </FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, 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="color: #007E7A; font: 10pt 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, Helvetica, 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">Price realization summary</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 24%; background-color: #0ABB98; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt">US$/t</FONT></TD>
    <TD STYLE="width: 9%; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q24</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 11%; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 9%; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 11%; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q23</B></FONT></TD>
    <TD STYLE="width: 9%; background-color: #007E7A; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 9%; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H24</B></FONT></TD>
    <TD STYLE="width: 9%; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H23</B></FONT></TD>
    <TD STYLE="width: 9%; background-color: #007E7A; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Iron ore fines (CFR/FOB, wmt)</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">98.2</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">100.7</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-2.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">98.5</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-0.3%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">99.3</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">102.7</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-3.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Iron ore pellets (CFR/FOB, wmt)</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">157.2</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">171.9</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-8.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">160.4</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-2.0%</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">164.7</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">161.4</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Copper<SUP>1</SUP></FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9,202</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7,687</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">19.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7,025</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">31.0%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,456</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,123</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 7.1pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Nickel</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">18,638</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">16,848</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">23,070</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-19.2%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17,529</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">24,162</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-27.5%</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>

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  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>1</SUP>
    Average realized price for copper operations only (Salobo and Sossego). Average realized copper price for all operations, including copper
    sales originated from nickel operations, was US$ 9,187/t in 2Q24.</FONT></P></TD></TR>
  </TABLE>

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<P STYLE="color: #747678; font: 10pt Arial, Helvetica, 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">Business highlights
in 2Q24</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, Helvetica, Sans-Serif; letter-spacing: -0.1pt; margin-top: 12pt; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD STYLE="text-align: justify; width: 48%"><P STYLE="color: #747678; font: 9.5pt/127% Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="color: #007E7A"><B>Northern System: S11D
achieved record production for a second quarter at 19.5 Mt, 0.4 Mt higher y/y</B></FONT>, as a result of the ongoing asset reliability
initiatives, which are ensuring greater operational stability. At Serra Norte, the lower production y/y was in line with the mine development
plan.</P></TD>
    <TD STYLE="text-align: center; width: 49%"><IMG SRC="vale202407166k_002.jpg" ALT="">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-align: justify"><FONT STYLE="font-size: 9.5pt; color: #007E7A; line-height: 150%"><B>Southeastern
System: output was 0.6 Mt lower y/y</B></FONT><FONT STYLE="font-size: 9.5pt; line-height: 150%">, driven by: (i) greater share of high-quality
ore production in Brucutu, after the conversion of the plant to wet processing last year (with the Torto dam commissioning) and consequent
higher mass loss in the process and (ii) planned maintenance of Concei&ccedil;&atilde;o I plant at the Itabira Complex. These effects
were </FONT>partially offset by <FONT STYLE="font-size: 9.5pt; line-height: 150%">higher third-party purchases.</FONT></P></TD>
    <TD STYLE="text-align: center"><IMG SRC="vale202407166k_003.jpg" ALT="">&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>Southern System: production increased by 3.0 Mt y/y</B></FONT>, mainly driven by: (i) solid operational performance at the Vargem Grande Complex and (ii) improved performance at the Paraopeba Complex, especially at the Viga plant, considering maintenance carried out in 2Q23.</P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-align: justify"><FONT STYLE="font-size: 9.5pt; color: #007E7A; line-height: 150%"><B>Pellets: production was slightly lower, down 0.2 Mt y/y</B></FONT><FONT STYLE="font-size: 9.5pt; line-height: 150%">, driven by lower pellet feed availability at the Vargem Grande plant and </FONT>maintenance at the S&atilde;o Luis plant.</P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>Iron ore sales increased by 5.4 Mt y/y, totaling 79.8 Mt</B></FONT>. The robust sales performance in the quarter was supported by strong shipments, as well as by the sale of inventories from previous periods. Sales of high-silica products in the product mix continued to increase as per our tactical value creation strategy, considering market conditions.</P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A; line-height: 150%"><B>The all-in premium totaled US$ -0.1/t</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #747678; line-height: 127%"><SUP>1</SUP></FONT><FONT STYLE="line-height: 150%">, US$ 2.3/t lower q/q, as a result of the increase of high-silica product sales. In the 2H24, Vale expects a larger share of premium products (e.g. IOCJ and BRBF) in the sales mix, due to higher production from the Northern System, potentially supporting all-in premiums.</FONT></P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 0pt; margin-bottom: 12pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>The average realized iron ore fines price was US$ 98.2/t</B></FONT>, US$ 2.5/t lower q/q, largely impacted by lower iron ore prices and lower quality premiums, which were partially offset by the positive effect of pricing mechanisms. <FONT STYLE="color: #007E7A"><B>The average realized iron ore pellet price was US$ 157.2/t</B></FONT>, US$ 14.7/t lower q/q, due to lower iron ore prices.</P>

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    </TABLE>

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<P STYLE="color: #A6A6A6; font: 8pt Arial Narrow, Helvetica, Sans-Serif; margin: 0 48.4pt 0 0"><FONT STYLE="font-size: 8pt; color: #A6A6A6; line-height: 127%"><SUP>1</SUP></FONT>
Iron ore fines premium of US$ -3.26/t and the weighted average contribution of the pellet business of US$ 3.13/t.</P>

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<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, Helvetica, Sans-Serif; letter-spacing: -0.1pt; margin-top: 12pt; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD STYLE="text-align: justify; width: 48%"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E79"><B>Salobo:
copper production increased by 3.3 kt y/y </B></FONT>mainly as a result of increased plant productivity at Salobo 1&amp;2. Sequential
production decreased by 2.4 kt, mainly due to the fire that damaged the conveyor belt at Salobo 3 in June. The repair works are ongoing,
and the Salobo 3 plant is expected to resume in August.</P></TD>
    <TD rowspan="3" STYLE="text-align: center; width: 49%">&nbsp;<IMG SRC="vale202407166k_004.jpg" ALT=""></TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    </TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>Sossego:
  copper production increased by </B></FONT><B><FONT STYLE="color: #007E79">0.3</FONT> <FONT STYLE="color: #007E7A">kt y/y </FONT></B>mainly
  because of higher head grades at the mill. In the quarter, the Sossego mining operations were halted with the temporary suspension of
  the operational license. The license was reinstated, and the mining operations resumed on June 28<SUP>th</SUP>.</P></TD>
    </TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>Canada: copper production decreased by </B></FONT><B><FONT STYLE="color: #007E79">3.8</FONT> <FONT STYLE="color: #007E7A">kt y/y</FONT></B>, as a result of the scheduled bi-annual Smelter and Refinery maintenance period and subsequent extended ramp-up. This was partially offset by gains from higher-grade copper at Voisey&rsquo;s Bay and will be further mitigated in Q3, as planned maintenance at the Clarabelle mill was in part advanced into Q2.&nbsp;</P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A; line-height: 150%"><B>Payable copper sales</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #007E7A; line-height: 127%"><SUP>2</SUP></FONT></B><B> <FONT STYLE="color: #007E7A; line-height: 150%">totaled </FONT></B><B><FONT STYLE="color: #007E79; line-height: 150%">76.1</FONT></B><B> <FONT STYLE="color: #007E7A; line-height: 150%">kt in the quarter, up </FONT></B><B><FONT STYLE="color: #007E79; line-height: 150%">2.3</FONT></B><B> <FONT STYLE="color: #007E7A; line-height: 150%">kt y/y</FONT></B><FONT STYLE="line-height: 150%">, as lower production was offset by inventory sales. </FONT></P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
      <TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>The average copper realized price was US$ </B></FONT><B><FONT STYLE="color: #007E79">9,202</FONT><FONT STYLE="color: #007E7A">/t, </FONT><FONT STYLE="color: #007E79">20</FONT><FONT STYLE="color: #007E7A">% higher q/q</FONT></B>, mainly due to higher LME prices.</P>

</TD></TR>
    </TABLE>

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<P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="line-height: 127%"><SUP>2</SUP></FONT>
Sales volumes are lower than 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>


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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, Helvetica, Sans-Serif; letter-spacing: -0.1pt; margin-top: 12pt; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD STYLE="text-align: justify; width: 48%"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>Sudbury-sourced
ore: finished nickel production decreased by 7.0 kt y/y, </B></FONT>impacted by the planned bi-annual maintenance and subsequent ramp-up,
which took an additional two weeks to complete. The operations were re-established on June 11<SUP>th</SUP>, and no additional impact is
expected in Q3. <FONT STYLE="color: #007E7A; letter-spacing: -0.1pt"><B>Sudbury mines performed well in the quarter with a 6% increase
in ore production y/y.</B></FONT></P></TD>
    <TD STYLE="text-align: center; width: 49%">&nbsp;<IMG SRC="vale202407166k_005.jpg" ALT=""></TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>Thompson-sourced ore: finished nickel production was 0.5 kt lower y/y</B></FONT>, mainly because the Thompson material is being processed entirely at Long Harbour, whereas last year the material was processed at both Long Harbour and Sudbury.</P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>Voisey&rsquo;s Bay-sourced ore: finished nickel production increased by 0.7 kt y/y</B></FONT>, driven by the availability of Voisey&rsquo;s Bay-sourced feed at Long Harbour. Contained nickel in ore mined at Voisey&rsquo;s Bay increased by 42% y/y as the underground mines continued to ramp up.</P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>Third-party feed: finished nickel production decreased by 2.4 kt y/y</B></FONT>, as planned. The consumption of third-party feed is in line with the strategy to maximize the utilization and performance of our downstream operations.</P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>Indonesia-sourced material: finished nickel production increased by 3.0 kt y/y</B></FONT>, mainly reflecting the robust performance of the Indonesia-Matsusaka-Clydach flowsheet. Nickel in matte production at PTVI was 16.6 kt in the quarter, representing a 0.3 kt decrease y/y, as PTVI conducted planned maintenance at the kiln and furnace in Q2.</P>

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    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>On&ccedil;a Puma: nickel production decreased by 2.7 kt y/y</B></FONT>, impacted by the furnace rebuild works that began in 4Q23. The rebuild concluded and the first metal production occurred in mid-May.</P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>Nickel sales totaled 34.3 kt in the quarter, 6.0 kt lower y/y</B></FONT>. The y/y decrease was in line with lower production levels. In the quarter, nickel sales were 6.4 kt higher than production as a result of the sales of inventories built in Q1, as planned.</P>

</TD></TR>
    <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
    <TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD COLSPAN="2" STYLE="text-align: justify"><P STYLE="font: 9.5pt/150% Arial, Helvetica, Sans-Serif; color: #747678; margin-right: 4.5pt; margin-bottom: 2pt; margin-left: 0pt; text-align: justify"><FONT STYLE="color: #007E7A"><B>The average nickel realized price was US$ 18,638/t, up 11% q/q</B></FONT>, in line with the variations in LME reference nickel prices.</P>

</TD></TR>
    </TABLE>


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<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
1 - 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="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="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 0.7pt; padding-left: 6.45pt; 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; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q24</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 6.45pt; 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; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>39,534</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>35,929</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>10.0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>40,157</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-1.6%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>75,463</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>75,928</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-0.6%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.5pt">Serra Norte and Serra Leste</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">20,012</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">18,218</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">21,000</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-4.7%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">38,230</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">40,450</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-5.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">S11D</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">19,522</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17,711</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">19,156</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1.9%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">37,233</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">35,477</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 6.45pt; 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; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>21,228</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>19,551<SUP>4</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8.6%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>21,795</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-2.6%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>40,779</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>40,399</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>0.9%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 12.95pt; 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="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,003</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7,599</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,362</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-4.3%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">15,602</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">15,801</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-1.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: 0.7pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Minas Centrais (Brucutu and others)</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,152</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,397<SUP>4</SUP></FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-3.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,537</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-5.9%</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12,550</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">11,948</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 12.95pt; 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; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7,073</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5,555</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">27.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,895</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.6%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12,628</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12,648</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-0.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 6.45pt; 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; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>19,836</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>15,347</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>29.3%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>16,791</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>18.1%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>35,183</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>29,191</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>20.5%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 12.95pt; 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="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7,970</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,525</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">22.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7,483</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6.5%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">14,495</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">11,809</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">22.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Vargem Grande (VGR, Pico and others)</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">11,866</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,822</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">34.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9,308</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">27.5%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">20,688</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17,382</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">19.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 0.7pt; padding-left: 6.45pt; 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; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>80,598</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>70,826<SUP>4</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>13.8%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>78,743</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2.4%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>151,424</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>145,517</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>4.1%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 13.75pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>OWN PRODUCTION</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>73,282</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>65,013<SUP>4</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>12.7%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>73,200</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>0.1%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>138,295</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>136,511</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 13.75pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>THIRD-PARTY PURCHASES</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>7,316</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>5,813</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>25.9%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>5,723</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>27.8%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>13,129</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9,007</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>45.8%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>IRON ORE SALES</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>79,792</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>63,826</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>25.0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>74,374</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>7.3%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>143,618</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>130,032</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>10.4%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>FINES SALES<SUP>2</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>68,512</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>52,546</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>30.4%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>63,329</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8.2%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>121,058</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>109,190</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>10.9%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">IOCJ</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">13,180</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9,400<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">40.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">13,626&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-3.3%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">22,581</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">24,841</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-9.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">BRBF</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">30,528</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">25,915<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">32,335</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-5.6%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">56,443</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">52,681</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Pellet feed &ndash; China (PFC1)<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3,337</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2,536</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">31.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3,189</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.6%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5,873</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5,821</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Lump</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1,782</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1,809</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-1.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1,865</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-4.5%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3,591</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3,259</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">High-silica products</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">13,767</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8,343<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">65.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6,424</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">114.3%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">22,110</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">11,960</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">84.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">Other fines (60-62% Fe)</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5,917</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4,543</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">30.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5,889</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.5%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10,460</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10,628</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-1.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>PELLET SALES</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,864</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9,225</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-3.9%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,809</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; 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; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>18,089</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>16,942</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>6.8%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>ROM SALES</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,416</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,056</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>17.5%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,236</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8.1%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>4,471</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3,900</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>14.6%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>SALES FROM 3<SUP>RD</SUP> PARTY PURCHASE</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>7,122</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>5,648</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>26.1%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>5,572</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>27.8%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>12,770</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>9,117</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>40.1%</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, 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. Vale&rsquo;s product portfolio Fe content reached 62.0%,
    alumina 1.4% and silica 6.5% in 2Q24.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, 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.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>3</SUP>
    Products concentrated in Chinese facilities.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>4</SUP>
    Restated from historical figures.</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="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">Pellets</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse; margin-bottom: 15.2pt">
  <TR>
    <TD STYLE="white-space: nowrap; width: 36%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-left: 6.45pt; 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; background-color: #007E7A; padding-right: 4.25pt; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt">2Q24</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">1Q24</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">&#8710; q/q</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">2Q23</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">&#8710; y/y</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">1H24</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">1H23</FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 2.85pt; color: white; font-weight: bold; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white">&#8710; y/y</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-left: 6.45pt; 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; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>489</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>766</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>-36.2%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>665</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>-26.5%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>1,256</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>1,449</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>-13.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-left: 12.95pt; 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; background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">489</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">766</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-36.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">665</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-26.5%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,256</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,449</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-13.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-left: 6.45pt; 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; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>4,789</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>4,852</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-1.3%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>4,633</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3.4%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9,642</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9,301</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3.7%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-left: 12.95pt; 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="background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">761</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">557</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">36.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,004</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-24.2%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,319</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,955</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-32.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; background-color: white; padding-left: 12.95pt; 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="background-color: #DFF5F1; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">729</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">688</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">6.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">57</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,178.9%</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,417</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">57</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,386.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-left: 12.95pt; 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="background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,261</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,153</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">9.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,130</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">11.6%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,415</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,338</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">3.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; background-color: white; padding-left: 12.95pt; 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="background-color: #DFF5F1; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">489</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">852</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-42.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">800</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-38.9%</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,341</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,748</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-23.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-left: 12.95pt; 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; background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,549</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,601</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-3.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,642</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-5.7%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">3,150</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">3,204</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-1.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-left: 6.45pt; 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; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1,058</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1,219</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-13.2%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1,200</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-11.8%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,277</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,347</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-3.0%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678; letter-spacing: -0.2pt">&nbsp;&nbsp;F&aacute;brica</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-left: 12.95pt; 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; background-color: #DFF5F1; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,058</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,219</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-13.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">1,200</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-11.8%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,277</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">2,347</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt">-3.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-left: 6.45pt; 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; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,557</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1,629</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>57.0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2,613</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-2.1%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>4,187</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>4,332</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-3.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>PELLET PRODUCTION</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,895</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,467</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>5.1%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9,111</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-2.4%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>17,362</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>17,429</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-0.4%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #555555; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>PELLET SALES</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,864</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #555555; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9,225</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-3.9%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #555555; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>8,809</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>0.6%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>18,089</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>16,942</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>6.8%</B></FONT></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>


<!-- Field: Page; Sequence: 6 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="color: #007E7A; font: 12pt Vale Sans Medium,sans-serif; margin: 0">&nbsp;</P>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 0.7pt; padding-left: 6.45pt; 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; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q24</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 6.45pt; 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; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>61.3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>60.6</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1.2%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>57.7</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>6.2%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>122.0</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>103.8</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white; background-color: #71C1AE"><B>17.5</B></FONT><B><FONT STYLE="font-size: 7.5pt; color: white">%</FONT></B></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Salobo</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">46.0</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">48.4</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-5.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">42.7</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.7%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">94.4</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">75.5</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">25.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Sossego</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">15.3</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12.3</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">24.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">15.0</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.0%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">27.6</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">28.3</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-2.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 6.45pt; 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; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>17.3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>21.3</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-18.8%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>21.1</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-18.0%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>38.6</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>42.1</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-8.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Sudbury</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">13.9</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">16.8</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-17.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">16.7</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-16.8%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">30.7</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">33.0</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-7.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Thompson</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.4</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-100.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.05</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-100.0%</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.4</FONT></TD>
    <TD STYLE="background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.2</FONT></TD>
    <TD STYLE="background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">100.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Voisey's Bay</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.7</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.7</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.2</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">22.7%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.4</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.3</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">25.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Feed from third parties<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">0.7</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1.3</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-46.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.1</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-66.7%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.0</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.6</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-56.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white"><B>COPPER PRODUCTION</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>78.6</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>81.9</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-4.0%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>78.8</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-0.3%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>160.5</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>145.9</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>10.0%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white"><B>COPPER SALES</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>76.1</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>76.8</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-0.9%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>73.8</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3.1%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>152.9</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>136.5</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>12.0%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: #F2F2F2; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Copper Sales Brazil</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">58.2</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">56.4</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.2%</FONT></TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">52.7</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10.4%</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">114.6</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">95.9</FONT></TD>
    <TD STYLE="background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">19.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: -9.35pt; padding-left: 12.95pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: #747678">Copper Sales Canada</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">18.0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">20.4</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-11.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: #555555 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">21.0</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-14.3%</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">38.4</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">40.5</FONT></TD>
    <TD STYLE="border-bottom: #555555 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-5.2%</FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>1</SUP>
    External feed purchased from third parties and processed into copper in our Canadian operation.</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="color: #747678; font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 0.7pt; padding-left: 6.45pt; 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; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q24</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>FINISHED PRODUCTION BY SOURCE</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Canada</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>7.3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>16.9</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-56.8%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>14.2<SUP>3</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-48.6%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; 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; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>30.4<SUP>3</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-20.4%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; letter-spacing: -0.2pt">Sudbury</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.1</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10.2</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-69.6%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10.1<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-69.3%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">13.3</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">19.6<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-32.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; letter-spacing: -0.2pt">Thompson</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1.8</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.4</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-25.0%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.3<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-21.7%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.1</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.8<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-<FONT STYLE="background-color: #DFF5F1">14.6%</FONT></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; letter-spacing: -0.2pt">Voisey's Bay</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">2.4</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.4</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-45.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">1.7</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">41.2%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6.8</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6.1</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">11.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Indonesia</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>16.2</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>18.7</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-13.4%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>13.2</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>22.7%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>34.9</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; 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; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>28.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3.0</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>n.m.</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>5.7</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-47.4%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3.0</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>10.6</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-71.7%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>Feed from third-parties<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1.4</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; 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; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-63.2%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #999999; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3.8<SUP>3</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-63.2%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>5.2</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #999999; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>9.7<SUP>3</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #71C1AE; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-46.4%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white; letter-spacing: -0.2pt"><B>FINISHED PRODUCTION BY SITE</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt">Sudbury </FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.6</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">13.8</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-66.7%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">14.6</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-68.5%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">18.4</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">28.6</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-35.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt">Voisey&rsquo;s Bay &amp; Long Harbour</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.2</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.7</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-45.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.8</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10.5%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">11.8</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12.5</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-5.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt">On&ccedil;a Puma</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">n.m.</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.7</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-47.4%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.0</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10.6</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-71.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt">Clydach</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.5</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">10.2</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-46.1%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.1</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">34.1%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">15.7</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12.3</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">27.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt">Matsusaka</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6.3</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.3</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">90.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">5.4</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">16.7%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">9.6</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">7.3</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">31.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt">Others<SUP>2</SUP></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.3</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">4.5</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-4.4%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">3.3</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">30.3%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">8.9</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">6.6</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">34.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>NICKEL PRODUCTION</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>27.9</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>39.5</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-29.4%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; 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; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-24.4%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>67.3</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>77.9</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #005E5B; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-13.6%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>NICKEL SALES</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>34.3</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>33.1</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>3.6%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>40.3</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-14.9%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>67.4</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>80.4</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-16.2%</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>1</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, Helvetica, Sans-Serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>2</SUP>
    Includes intermediates produced in Thompson and PTVI, tolling and others.</FONT></P>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>3
</SUP>Restated from historical figures.&nbsp;</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="color: #747678; font: bold 12pt Arial, Helvetica, 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">Energy Transition Metals
by-products - Finished production </FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555">&nbsp;</TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q24</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 4.25pt; padding-left: 0.7pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>2Q23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 4.25pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>1H23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: white 1pt solid; background-color: #007E7A; padding-right: 2.85pt; font-size: 10pt; color: #747678; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>&#8710; y/y</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt">COBALT <SUB>(metric tons)</SUB></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">189</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">482</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-60.8%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">361</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-47.6%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">671</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">958</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-30.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt">PLATINUM <SUB>(000&rsquo; oz troy)</SUB></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">17</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">30</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-43.3%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">36</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-52.8%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">47</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">70</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-32.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; color: #747678"><FONT STYLE="font-size: 7.5pt">PALLADIUM <SUB>(000&rsquo; oz troy)</SUB></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">24</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">39</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-38.5%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">46</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-47.8%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">63</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #F2F2F2; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">86</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #C6ECE5; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-26.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 0.7pt; padding-left: 5.6pt; font-size: 10pt; 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; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">102</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">104</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">-1.9%</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: white 1pt solid; background-color: white; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">91</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">12.1%</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">206</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">170</FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #DFF5F1; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: #747678">21.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 0.7pt; padding-left: 6.45pt; color: #555555"><FONT STYLE="font-size: 7.5pt; color: white"><B>TOTAL BY-PRODUCTS <SUB>(000&rsquo; metric tons Cu eq.)</SUB><SUP>2 3</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>31</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>38</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>18.4%</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; background-color: #555555; padding-right: 4.25pt; padding-left: 0.7pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>39</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 4.25pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-20.5%</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>69</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #555555; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>73</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: #005E5B; padding-right: 2.85pt; color: #555555; text-align: right"><FONT STYLE="font-size: 7.5pt; color: white"><B>-5.5%</B></FONT></TD></TR>
  </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif">
  <TR>
    <TD>
    <P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, 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, Helvetica, 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, Helvetica, Sans-Serif; margin: 0 0 0 4.3pt; text-indent: -4.3pt"><FONT STYLE="letter-spacing: 0.4pt"><SUP>3</SUP>
    Copper equivalent tons calculated using average market metal prices for each quarter. Market reference prices: for copper and cobalt:
    LME spot; for Gold, Silver, Platinum, and Palladium: Bloomberg; for other PGMs: Johnson Matthey. </FONT></P></TD></TR>
  </TABLE>
<P STYLE="color: #A6A6A6; font: bold 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0 0 2pt"><FONT STYLE="letter-spacing: 0.4pt">&nbsp;</FONT></P>


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<P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="letter-spacing: 0.4pt"><B>&nbsp;</B></FONT></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
2 &ndash; </FONT><FONT STYLE="font-weight: normal">Energy Transition Metals: Maintenance scheduled in 2024</FONT></P>

<P STYLE="color: #555555; font: 12pt Vale Sans Medium,sans-serif; margin: 0 0 2pt"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="width: 24%; border-bottom: white 1pt solid; font-size: 10pt; text-align: left; color: #747678">&nbsp;</TD>
    <TD STYLE="width: 19%; border-bottom: white 1pt solid; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Q1</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: white 1pt solid; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Q2</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: white 1pt solid; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Q3</B></FONT></TD>
    <TD STYLE="width: 19%; border-bottom: white 1pt solid; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Q4</B></FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Copper operations</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Salobo</B></FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Salobo I&amp;II</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">&lt; 1 week</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1 week</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1 week</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1 week</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Salobo III</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">&lt; 1 week</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">3 weeks</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">5 weeks</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1 week</FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="border-bottom: #999999 1pt solid; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Sossego</B></FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: white 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Sossego</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">4.5 weeks</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: white 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">4 weeks</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: white 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1.5 weeks</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: white 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1.5 week</FONT></TD></TR>
  <TR STYLE="background-color: #555555">
    <TD STYLE="border-bottom: white 1pt solid; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Nickel operations</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Sudbury</B></FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Coleman</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">4.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Creighton</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1 week</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">5.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Copper Cliff North</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">4 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Copper Cliff South</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">2 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Garson</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">4 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Totten</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">2 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Clarabelle mill</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1 week</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">3.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Sudbury Smelter</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">7 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Sudbury Refinery</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">6 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Port Colborne (Ni, Co &amp; PGMs)</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">6 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Thompson</B></FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Thompson mine</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">4.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Thompson mill</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">4.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR STYLE="background-color: #999999">
    <TD COLSPAN="5" STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Voisey&rsquo;s Bay &amp; Long Harbour</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Voisey&rsquo;s Bay</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">2.5 weeks</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1 week</FONT></TD></TR>
  <TR>
    <TD STYLE="background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Long Harbour Refinery</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">4.5 weeks</FONT></TD>
    <TD STYLE="background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Standalone Refineries</B></FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Clydach</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">5.5 weeks</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">Matsusaka</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">6.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Indonesia</B></FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">PTVI (furnaces/kilns only)</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">0 weeks</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1.5 weeks</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">1 weeks</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">&lt;1 week</FONT></TD></TR>
  <TR STYLE="background-color: #999999">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt; color: white"><B>Brazil</B></FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: left; color: #747678"><FONT STYLE="font-size: 7.5pt">On&ccedil;a Puma</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">11 weeks<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">&nbsp;&lt;1 week</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: #F2F2F2; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">&lt;1 week</FONT></TD>
    <TD STYLE="border-top: #999999 1pt solid; border-bottom: #999999 1pt solid; background-color: white; padding-top: 1pt; padding-bottom: 1pt; font-size: 10pt; text-align: center; color: #747678"><FONT STYLE="font-size: 7.5pt">&lt;1 week</FONT></TD></TR>
  </TABLE>
<P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="letter-spacing: 0.4pt"><SUP>1</SUP>
Refers to the furnace rebuild. The ramp up after maintenance is not included in the number of weeks.</FONT></P>

<P STYLE="color: #A6A6A6; font: 7.5pt Arial Narrow, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="letter-spacing: 0.4pt">Note: The maintenance
schedule may be deliberately adjusted if it proves beneficial for operations and the overall business. The number of weeks is rounded
to 0.0 or 0.5 and may involve more than one maintenance activity within the quarter.</FONT></P>

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


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<P STYLE="color: gray; font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

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

<P STYLE="color: gray; font: 11pt/130% Arial, Helvetica, Sans-Serif; margin: 0">Thiago Lofiego: thiago.lofiego@vale.com</P>

<P STYLE="color: gray; font: 11pt/130% Arial, Helvetica, Sans-Serif; margin: 0">Luciana Oliveti: luciana.oliveti@vale.com</P>

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

<P STYLE="color: gray; font: 11pt/130% Arial, Helvetica, Sans-Serif; margin: 0">Patr&iacute;cia Tinoco: patricia.tinoco@vale.com</P>

<P STYLE="color: gray; font: 11pt/130% Arial, Helvetica, Sans-Serif; margin: 0">Pedro Terra: pedro.terra@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, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-bottom: #BBBBBB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; color: #747678; line-height: 130%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="color: #999999; font: 9pt Arial, Helvetica, 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), including in particular expectations for
production and sales of iron ore, nickel and copper on pages 1, 2, 3 and 4. 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, Helvetica, Sans-Serif; margin: 12pt 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<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/ Thiago Lofiego</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">Date: July 16, 2024</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0in"> Director 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>
