<SEC-DOCUMENT>0001292814-24-003767.txt : 20241016
<SEC-HEADER>0001292814-24-003767.hdr.sgml : 20241016
<ACCEPTANCE-DATETIME>20241015200953
ACCESSION NUMBER:		0001292814-24-003767
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20240930
FILED AS OF DATE:		20241016
DATE AS OF CHANGE:		20241015

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:		241373068

	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>vale20241015_6k.htm
<DESCRIPTION>6-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<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>

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

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<P STYLE="text-align: center; font: 12pt/90% Vale Sans,sans-serif; margin-top: 0; margin-bottom: 8pt"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 6pt/90% Vale Sans Light,sans-serif; margin: 0 0 8pt; color: #555555"><BR>
<BR>
</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 0; color: #007E7A"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 2.2pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt"><B>Vale&rsquo;s
Q3 performance was marked by record iron ore output since 4Q18 and an increase in the production guidance for 2024. In copper, ore processed
at Salobo 1 &amp; 2 increased by 30% y/y supported by stronger mill performance. In nickel, performance of the Sudbury mines drove a 20%
increase in mill throughput y/y.</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #007E7A; letter-spacing: -0.1pt">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 2.2pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; letter-spacing: -0.1pt">Iron
ore production reached 91.0 Mt, 4.7 Mt (+5%) higher y/y, driven by improved performance at S11D, Itabira and Brucutu. As previously announced,
Vale has revised its production guidance upward to 323-330 Mt (from 310-320 Mt), reflecting continued improvements on operational stability
and asset reliability. Pellets production totaled 10.4 Mt, 1.2 Mt (+13%) higher y/y. Iron ore sales were 81.8 Mt, up 1.3 Mt (+2%) y/y.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #007E7A">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 2.2pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; letter-spacing: -0.1pt">Copper
production totaled 85.9 kt, 4.3 kt (+5%) higher y/y, reflecting stronger performance across all operations,&nbsp;which was partially offset
by the impact of an incident in a conveyor belt at the Salobo 3 plant in June. &nbsp; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 7.1pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #007E7A">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 2.2pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; letter-spacing: -0.1pt">Nickel
production totaled 47.1 kt, 5.0 kt (+12%) higher y/y, mainly reflecting stronger asset performance in Sudbury and the continued ramp-up
of Voisey&rsquo;s Bay underground mines.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt/90% Vale Sans,sans-serif; margin: 0 0 8pt; color: #555555">&nbsp;</P>

<P STYLE="font: 12pt/90% Vale Sans,sans-serif; margin: 0 0 8pt; color: #555555">&nbsp;</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 22pt Vale Sans,sans-serif; color: #0ABB98; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><B><IMG SRC="image_003.jpg" ALT=""></B></TD><TD STYLE="width: 5pt"></TD><TD STYLE="vertical-align: bottom; text-align: left"><B>Highlights</B></TD>
</TR></TABLE>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>

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    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #ECB11F 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 22pt; color: #007E7A; line-height: 90%"><B><BR STYLE="clear: both">
</B></FONT>&nbsp;&nbsp;<FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 14pt; color: white; line-height: 90%"><B>Production Summary</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>000&rsquo; metric tons</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q24</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>2Q24</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; q/q</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q23</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; y/y</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M24</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M23</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>&#916; y/y</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 8.5pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>2024 guidance</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Iron ore<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">90,971</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">80,598</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">12.9%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">86,238</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5.5%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">242,395</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;231,755 </FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">323-330 Mt</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Pellets</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">10,363</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8,895</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">16.5%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9,175</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">12.9%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">27,724</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">26,604</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">38-42 Mt<SUP>2</SUP></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Copper</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">85.9</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">78.6</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9.3%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">81.6</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5.3%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">246.3</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">227.5</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">320-355 kt</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Nickel</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #ECB11F 2.25pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">47.1</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">27.9</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">68.8%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">42.1</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">11.9%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">114.4</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">120.0</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&nbsp;&nbsp;-4.7%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">153-168 kt<SUP>3</SUP></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 6pt/90% Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>

<P STYLE="font: 6pt/90% Vale Sans Light,sans-serif; margin: 0; color: #555555"><SUP>1</SUP> Including third-party purchases, run-of-mine
and feed for pelletizing plants.</P>

<P STYLE="font: 6pt/90% Vale Sans Light,sans-serif; margin: 0; color: #555555"><SUP>2</SUP> Iron ore agglomerates guidance, including
iron ore pellets and briquettes.</P>

<P STYLE="font: 6pt/90% Vale Sans Light,sans-serif; margin: 0; color: #555555"><SUP>3</SUP> Nickel guidance was updated on September 11,
2024, to reflect the impact of PTVI deconsolidation, following the partial divestment completed in June 2024.</P>

<P STYLE="font: 6pt/90% Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #007E7A">
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #ECB11F 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: justify; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 22pt; color: #007E7A; line-height: 90%"><B><BR STYLE="clear: both">
</B></FONT>&nbsp;&nbsp;<FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 14pt; color: white; line-height: 90%"><B>Sales Summary</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>000&rsquo; metric tons</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q24</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>2Q24</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; q/q</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q23</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; y/y</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M24</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M23</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>&#916; y/y</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Iron ore</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">81,838</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">79,792</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.6%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">80,559</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.6%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">225,456</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">210,591</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 6.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Fines<SUP>1</SUP></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">69,344</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">68,512</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.2%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">69,714</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-0.5%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">190,402</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">178,904</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 6.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Pellets</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">10,143</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8,864</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">14.4%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8,613</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">17.8%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">28,232</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">25,556</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">10.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 6.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">ROM</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2,351</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2,416</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-2.7%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2,232</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5.3%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6,822</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6,132</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">11.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Copper</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">75.2</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">76.1</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-1.2%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">73.8</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.9%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">228.1</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">210.3</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Nickel</FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #ECB11F 2.25pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">40.7</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">34.3</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">18.7%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">39.2</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.8%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">108.1</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">119.6</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-9.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 6pt/90% Vale Sans Light,sans-serif; margin: 0; text-align: right; color: #555555">&nbsp;</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0; color: #555555"><SUP>1 </SUP>Including third-party purchases.</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #007E7A">
    <TD COLSPAN="4" STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #ECB11F 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 22pt; color: #007E7A; line-height: 90%"><B><BR STYLE="clear: both">
</B></FONT>&nbsp;&nbsp;<FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 14pt; color: white; line-height: 90%"><B>Price Realization Summary</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>US$/t</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q24</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>2Q24</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; q/q</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q23</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; y/y</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M24</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M23</B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>&#916; y/y</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Iron ore fines </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 7pt; color: #555555; line-height: 90%">(CFR/FOB, wmt)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">90.6</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">98.2</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-7.7%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">105.1</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-13.8%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">96.1</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">103.7</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-7.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Iron ore pellets </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 7pt; color: #555555; line-height: 90%">(CFR/FOB, wmt)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">148.2</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">157.2</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-5.7%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">161.2</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-8.1%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">158.7</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">161.3</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-1.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Copper<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9,016</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9,202</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-2.0%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7,731</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">16.6%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8,651</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7,969</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #ECB11F 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Nickel</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #ECB11F 2.25pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">17,012</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">18,638</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-8.7%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">21,237</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-19.9%</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">17,477</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">23,203</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-24.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 29%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 8pt/90% Vale Sans Light,sans-serif; margin: 0; text-align: center; color: #555555">&nbsp;</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0; color: #555555"><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$ 9,053/t in 3Q24.</P>


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<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


<P STYLE="font: 22pt Vale Sans,sans-serif; margin: 0; color: #0ABB98"><B>Iron ore and pellets operations</B></P>
<DIV STYLE="position: relative; float: left; width: 49%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #007E7A">&#183;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>Northern
System: production increased by 1.9 Mt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
driven by S11D&rsquo;s robust performance at 22.1 Mt (+2.7 Mt y/y), making this the seventh quarter of y/y production improvements. Serra
Norte&rsquo;s output was slightly lower y/y (-0.5 Mt y/y), in line with the production plan. Shipments from the Ponta da Madeira port
set a quarterly record since 2021, totaling 50.6 Mt, reflecting enhanced operational stability.</FONT></TD>
</TR></TABLE>
    <P STYLE="font: 9pt/115% Vale Sans Light,sans-serif; margin: 0 0 0 15.8pt; text-align: justify; color: #555555">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #007E7A">&#183;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>Southeastern
System: production increased by 3.6 Mt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
driven by (i) enhanced performance at the Concei&ccedil;&atilde;o 1 &amp; 2 plants in Itabira, as a result of reduced maintenance downtime
following the concentration of activities in the first semester, during the rainy season, and (ii) higher output at Brucutu, attributed
to the resumption of three wet processing lines last year and the commissioning of a fourth line in September this year, with the site
achieving its highest quarterly production since 2019.</FONT></TD>
</TR></TABLE>
</div>
<DIV STYLE="text-align: center; position: relative; float: left; width: 49%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">
<IMG SRC="image_004.jpg" ALT="">
</div>

    <P STYLE="font: 9pt Vale Sans Light,sans-serif; margin: 0 0 0 0.5in; color: #555555">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #007E7A">&#183;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A; letter-spacing: -0.1pt"><B>Southern
System: production was 0.9 Mt lower y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; letter-spacing: -0.1pt">,
primarily due to (i) lower third-party purchases and (ii) reduced high-silica products output at the Vargem Grande complex due to market
conditions. These effects were partially offset by increased production at Viga, following maintenance works in the 3Q23. In September,
the commissioning of wet processing operations in the Vargem Grande 1 Project started. This will allow the Vargem Grande complex to resume
approximately 15 Mtpa of iron ore production and improve the average quality by approximately 2% of contained iron.</FONT></TD>
</TR></TABLE>
    <P STYLE="font: 9.5pt Vale Sans,sans-serif; margin: 0 0 0 8.95pt; text-indent: -14.2pt; color: #007E7A"><B>&nbsp;</B></P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #007E7A">&#183;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>Pellets:
production was 1.2 Mt higher y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
achieving its highest quarterly production since 2018, driven by higher pellet feed availability from the Brucutu and Itabira mines,
increasing pellet production at the Tubar&atilde;o site.</FONT></TD>
</TR></TABLE>
    <P STYLE="font: 9.5pt Vale Sans,sans-serif; margin: 0 0 0 8.95pt; text-indent: -14.2pt; color: #007E7A"><B>&nbsp;</B></P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #007E7A">&#183;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>Iron
ore sales were 1.3 Mt higher y/y, totaling 81.8 Mt, supported by 18% higher pellet sales</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">.
Considering the higher pellet production and healthy demand in the quarter, pellet sales increased to 10.1 Mt (+18% y/y), supporting
overall iron ore sales, which totaled 81.8 Mt (+2% y/y). The 5.5 Mt inventory build-up was mainly due to cargos in transit along the
supply chain as production seasonally increased in Q3. These inventories will be converted into sales in Q4.</FONT></TD>
</TR></TABLE>
    <P STYLE="font: 9.5pt Vale Sans,sans-serif; margin: 0 0 0 0.5in; color: #007E7A"><B>&nbsp;</B></P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #007E7A">&#183;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>The
all-in premium improved by US$ 1.8/t q/q, totaling US$ 1.7/t<SUP>[1]</SUP></B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
driven by higher average quality of the product portfolio. This improvement is a result of the increased availability of high-quality
products, mainly from the Northern System, allowing for higher BRBF sales and the proactive decision to reduce direct sales of high-silica
products, due to market conditions.</FONT></TD>
</TR></TABLE>
    <P STYLE="font: 9.5pt Vale Sans,sans-serif; margin: 0 0 0 8.95pt; text-indent: -14.2pt; color: #007E7A"><B>&nbsp;</B></P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Symbol; font-size: 9pt; color: #007E7A">&#183;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>The
average realized iron ore fines price was US$ 90.6/t</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
US$ 7.6/t lower q/q despite iron ore reference prices having decreased by US$ 12.0/t in the period. The lower decline vs. the reference
price is attributed to an enhanced product portfolio and the positive effect from provisional pricing adjustments, given higher-than-average
forward prices in the last day of the quarter. </FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>The
average realized iron ore pellet price was US$ 148.2/t</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
US$ 9.0/t lower q/q, due to lower iron ore prices.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>


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

<P STYLE="font: 7pt Vale Sans Light,sans-serif; margin: 0; color: #555555"><FONT STYLE="line-height: 115%"><SUP>[1]</SUP></FONT> Iron
ore fines premium of US$ -1.9/t and the weighted average contribution of the pellet business of US$ 3.6/t.</P>



<P STYLE="font: 7pt Vale Sans Light,sans-serif; margin: 0; color: #555555"></P>
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<P STYLE="font: 22pt Vale Sans,sans-serif; margin: 0; color: #3CB5E5"><B>Copper operations</B></P>

<P STYLE="font: 22pt Vale Sans,sans-serif; margin: 0; color: #3CB5E5"><B>&nbsp;</B></P>

<DIV STYLE="position: relative; float: left; width: 49%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>Salobo:
copper production decreased by 3.0 kt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
mainly reflecting the impact of the conveyor belt fire that occurred at the Salobo 3 plant and lower feed grades, as per plan. Salobo
1&amp;2 plants continue to perform well, reporting a 30% increase in ore processed y/y.</FONT></TD></TR></TABLE>

<P STYLE="font: 9pt/115% Vale Sans Light,sans-serif; margin: 0 0 0 7.1pt; text-align: justify; text-indent: -14.2pt; color: #555555">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>Sossego: copper production
increased by 2.6 kt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">, mainly because
of higher mined volumes and higher feed grade to the mill, as per the plan. Sequentially, production increased by 4.3 kt as the mine&rsquo;s
operational license was reestablished, enabling the processing of higher-feed grades from mined material.</FONT></TD></TR></TABLE>

</div>
<DIV STYLE="text-align: center; position: relative; float: left; width: 49%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">
<IMG SRC="image_006.jpg" ALT="">
</div>



<P STYLE="font: 9.5pt/115% Vale Sans,sans-serif; margin: 0 0 3pt; text-align: justify; text-indent: -14.2pt; color: #007E7A"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>Canada: copper production
increased by 4.7 kt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">, mainly reflecting
improved mining performance in Sudbury and shorter mine and mill maintenance periods y/y. Also, production was positively impacted by
the ramp-up of VBME and higher copper precipitates output in Thompson.</FONT></TD></TR></TABLE>

<P STYLE="font: 9.5pt/115% Vale Sans,sans-serif; margin: 0 0 3pt 14.2pt; text-align: justify; text-indent: -14.2pt; color: #007E7A"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>Payable copper sales</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9.5pt; color: #198FBE"><SUP>[2]</SUP></FONT></B><B>
<FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE">totaled 75.2 kt in the quarter, up 1.4 kt y/y</FONT></B><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
mainly reflecting higher production. Sales in the quarter were lower than production, mainly due to in-transit volumes and Vale Base Metals&rsquo;
commercial strategy.</FONT></TD></TR></TABLE>

<P STYLE="font: 9.5pt/115% Vale Sans,sans-serif; margin: 0 0 3pt 14.2pt; text-align: justify; text-indent: -14.2pt; color: #007E7A"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>The average copper
realized price was US$ 9,016/t, 2.0% lower q/q</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
mainly due to lower LME reference prices.</FONT></TD></TR></TABLE>


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

<P STYLE="font: 10pt Vale Sans Light,sans-serif; margin: 0; color: #555555"><FONT STYLE="font-size: 7.5pt; line-height: 115%"><SUP>[2]</SUP></FONT>
<FONT STYLE="font-size: 7pt">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. </FONT></P>
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<P STYLE="font: 22pt/115% Vale Sans,sans-serif; margin: 0 0 8pt; color: #3CB5E5"><B>&nbsp;</B></P>

<P STYLE="font: 22pt Vale Sans,sans-serif; margin: 0; color: #3CB5E5"><B>Nickel
operations</B></P>

<P STYLE="font: 6pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>
<DIV STYLE="position: relative; float: left; width: 49%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9.5pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 25.45pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>Sudbury-sourced
                                            ore: finished nickel production increased by 5.6 kt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
                                            esulting from the improved performance of the mine-mill-smelter-refinery flowsheet. </FONT><FONT STYLE="font-size: 9.5pt; font-family: Vale Sans,sans-serif; color: rgb(25,143,190)"><B>Sudbury
mines and mill performed well, with a 20% increase in ore production and mill throughput y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; color: #555555">.
On a sequential basis, production increased by 9.2 kt as smelter and refinery operations resumed after biennial maintenance.</FONT></TD></TR></TABLE>

<P STYLE="font: 9.5pt/115% Vale Sans,sans-serif; margin: 0 245.15pt 0 0.5in; text-align: justify; color: #747474"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify; padding-right: 25.45pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>Thompson-sourced
ore: finished nickel production was 1.1 kt higher y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
mainly because of the higher availability of the Long Harbour refinery.</FONT></TD></TR></TABLE>

<P STYLE="font: 9.5pt/115% Vale Sans,sans-serif; margin: 0 245.15pt 0 0.5in; text-align: justify; color: #747474"><B>&nbsp;</B></P>

</div>
<DIV STYLE="text-align: center; position: relative; float: left; width: 49%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt"> <IMG SRC="image_007.jpg" ALT="">
</div>

<P STYLE="font: 9pt/115% Vale Sans,sans-serif; margin: 0 252.25pt 3pt 8.8pt; text-align: justify; color: #747474"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.7pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>Voisey&rsquo;s Bay-sourced
ore: finished nickel production increased by 2.2 kt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
driven by the availability of Voisey&rsquo;s Bay-sourced feed at Long Harbour, as higher nickel grade from underground mines continued
to ramp-up, as well as higher availability of the Long Harbour refinery.</FONT></TD></TR></TABLE>

<P STYLE="font: 9.5pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.7pt; text-indent: -14.7pt; color: #007E7A"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.7pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>On&ccedil;a Puma:
nickel production increased by 0.4 kt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
as in 3Q23 the furnace was operating at a lower rate in preparation for the furnace rebuild. The operation has been running steadily since
the conclusion of the furnace rebuild. The plant has experienced a power disruption after a severe windstorm has damaged the local utility
company&rsquo;s transmission line on October 5<SUP>th</SUP>. </FONT></TD></TR></TABLE>

<P STYLE="font: 9.5pt/115% Vale Sans Light,sans-serif; margin: 0 0 3pt; text-align: justify; color: #555555">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.7pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>External feed: finished
nickel production from external feed was 19.3 kt in the quarter</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">.
Third-party feed decreased by 2.5 kt y/y, as planned. PTVI-sourced production decreased by 1.9 kt y/y, mainly reflecting the deconsolidation<SUP>[3]</SUP>
of PTVI, partially offset by higher nickel production at the Matsusaka refinery.</FONT></TD></TR></TABLE>

<P STYLE="font: 9.5pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.7pt; text-indent: -14.7pt; color: #007E7A"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.7pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>Nickel sales totaled
40.7 kt, 1.5 kt higher y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">, driven
by higher production. In the quarter, nickel sales were 6.4 kt lower than production due to an inventory build-up, as well as due to Vale
Base Metals&rsquo; sales strategy.</FONT></TD></TR></TABLE>

<P STYLE="font: 9.5pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 0 14.7pt; text-indent: -14.7pt; color: #007E7A"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.7pt"><FONT STYLE="font-family: Symbol; font-size: 9.5pt; color: #198FBE">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #198FBE"><B>The average nickel
realized price was US$ 17,012/t, down 9% q/q</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
due to lower LME reference prices, partially offset by higher realized premiums.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt; text-indent: 124.35pt">&nbsp;</P>


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

<P STYLE="font: 7pt Arial, Helvetica, Sans-Serif; margin: 0; color: #555555"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; line-height: 115%"><SUP>[3]</SUP></FONT>
<FONT STYLE="font-family: Vale Sans Light,sans-serif">Starting from 3Q24, PTVI sourced production is reported as &ldquo;External feed&rdquo;
and reflects solely the 80%-offtake attributable to Vale Base Metals processed at downstream facilities. Before, PTVI production was 100%
consolidated by Vale.</FONT></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="text-align: right; color: #007E7A; font: 22pt Vale Sans,sans-serif; margin: 0"><B><IMG SRC="image_008.jpg" ALT=""></B></P>

<P STYLE="font: 22pt Vale Sans,sans-serif; text-align: right; color: #007E7A; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 22pt Vale Sans,sans-serif; color: #007E7A; margin: 0"><B>Annex 1: Production and sales summary<BR>
<BR>
</B></P>

<P STYLE="font: 14pt/110% Vale Sans,sans-serif; margin: 0 0 6pt; color: #0ABB98"><B>Iron ore </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border-left: #3CB5E5 6pt solid; border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>000&rsquo; metric tons</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: #ECB11F 2.25pt solid; border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>2Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>&#916; y/y</B></FONT></TD></TR>
  <TR STYLE="background-color: #D2F2EC">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Northern System</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>50,137</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>39,534</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>26.8%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>48,187</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>4.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>125,600</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>124,115</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>1.2%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Serra Norte and Serra Leste</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">28,044</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">20,012</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">40.1%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">28,833</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-2.7%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">66,273</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">69,283</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-4.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">S11D</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">22,094</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">19,522</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">13.2%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">19,355</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">14.2%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">59,327</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">54,832</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8.2%</FONT></TD></TR>
  <TR STYLE="background-color: #D2F2EC">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Southeastern System</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>24,000</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>21,228</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>13.1%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>20,350</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>17.9%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>64,779</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>60,748</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>6.6%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Itabira </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 6pt; color: #555555; line-height: 90%">(Cau&ecirc;, Concei&ccedil;&atilde;o and others)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9,492</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8,003</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">18.6%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7,619</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">24.6%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">25,094</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">23,185</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Minas Centrais </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 6pt; color: #555555; line-height: 90%">(Brucutu and others)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7,250</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6,152</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">17.8%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5,939</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">22.1%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">19,799</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">18,071</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Mariana </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 6pt; color: #555555; line-height: 90%">(Alegria, Timbopeba and others)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7,258</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7,073</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.6%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6,791</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.9%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">19,886</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">19,492</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.0%</FONT></TD></TR>
  <TR STYLE="background-color: #D2F2EC">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Southern System</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>16,833</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>19,836</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-15.1%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>17,701</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-4.9%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>52,016</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>46,892</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>10.9%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Paraopeba </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 6pt; color: #555555; line-height: 90%">(Mutuca, F&aacute;brica and others)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7,103</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7,970</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-10.9%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8,214</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-13.5%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">21,598</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">19,982</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Vargem Grande </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 6pt; color: #555555; line-height: 90%">(VGR, Pico and others)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9,730</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">11,866</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-18.0%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9,488</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.6%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">30,418</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">26,910</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">13.0%</FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Iron Ore Production<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>90,971</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>80,598</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>12.9%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>86,238</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>5.5%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>242,395</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>231,755</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>4.6%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Own production</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">84,063</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">73,282</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">14.7%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">79,073</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.3%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">222,358</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">215,584</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Third-party purchases</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6,908</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7,316</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-5.6%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7,165</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-3.6%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">20,037</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">16,171</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">23.9%</FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Iron Ore Sales</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>81,838</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>79,792</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>2.6%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>80,559</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>1.6%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>225,456</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>210,591</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>7.1%</B></FONT></TD></TR>
  <TR STYLE="background-color: #D2F2EC">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Fine Sales<SUP>2</SUP></B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>69,344</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>68,512</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>1.2%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>69,714</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-0.5%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>190,402</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>178,904</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>6.4%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">IOCJ</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">11,709</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">13,180</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-11.2%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">14,758</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-20.7%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">34,290</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">39,599</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-13.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">BRBF</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">34,797</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">30,528</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">14.0%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">36,454</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-4.5%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">91,018</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">89,134</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Pellet feed &ndash; China </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 6pt; color: #555555; line-height: 90%">(PFC1)</FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><SUP>3</SUP></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3,328</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3,337</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-0.3%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4,234</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-21.4%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9,201</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">10,056</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-8.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Lump</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,971</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,782</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">10.6%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2,367</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-16.7%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5,562</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5,626</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-1.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">High-silica products</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8,050</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">11,372<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-29.2%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6,131</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">31.3%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">26,584<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">18,090</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">47.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Other fines </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 6pt; color: #555555; line-height: 90%">(60-62% Fe)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9,489</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8,313<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">14.1%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5,770</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">64.5%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8,256<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">16,399</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-49.7%</FONT></TD></TR>
  <TR STYLE="background-color: #D2F2EC">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Pellet Sales</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>10,143</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>8,864</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>14.4%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>8,613</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>17.8%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>28,232</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>25,556</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>10.5%</B></FONT></TD></TR>
  <TR STYLE="background-color: #D2F2EC">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Rom Sales</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>2,351</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>2,416</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-2.7%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>2,232</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>5.3%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>6,822</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>6,132</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>11.3%</B></FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Sales from 3<SUP>rd</SUP> party purchase</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #ECB11F 2.25pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>7,118</B></FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>7,122</B></FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>-0.1%</B></FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>6,646</B></FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>7.1%</B></FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>19,888</B></FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>15,764</B></FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>26.2%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="color: #555555; font: 6pt Vale Sans Light,sans-serif; margin: 4pt 0 0; letter-spacing: -0.1pt; text-align: left"><FONT STYLE="letter-spacing: 0pt"><SUP>1
</SUP>Including third party purchases, run-of-mine and feed for pelletizing plants. Vale&rsquo;s product portfolio Fe content reached
62.3%, alumina 1.4% and silica 5.9% in 3Q24.<BR>
<SUP>2</SUP> Including third-party purchases.<BR>
<SUP>3</SUP> Products concentrated in Chinese facilities.<BR>
<SUP>4</SUP> Restated from historical figures.</FONT></P>

<P STYLE="color: gray; font: 7pt Vale Sans,sans-serif; margin: 0; letter-spacing: -0.1pt; text-align: left"><BR>
<BR>
</P>

<P STYLE="font: 14pt/115% Vale Sans,sans-serif; margin: 0 0 8pt; color: #0ABB98"><B>Pellets</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border-left: #3CB5E5 6pt solid; border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&lsquo;000 metric tons</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: #ECB11F 2.25pt solid; border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>2Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>&#916; y/y</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Northern System</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>818</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>489</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>67.3%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>1,037</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-21.1%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>2,074</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>2,486</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>16.6%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">S&atilde;o Luis</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">818</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">489</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">67.3%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,037</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-21.1%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2,074</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2,486</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">16.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Southeastern System</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>5,978</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>4,789</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>24.8%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>4,403</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>35.8%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>15,620</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>13,705</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>14.0%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&nbsp;Itabrasco </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 7pt; color: #555555; line-height: 90%">(Tubar&atilde;o 3)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">908</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">761</FONT></TD>
    <TD STYLE="background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">19.3%</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">801</FONT></TD>
    <TD STYLE="background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">13.4%</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2,227</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2,756</FONT></TD>
    <TD STYLE="background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-19.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&nbsp;Hispanobras </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 7pt; color: #555555; line-height: 90%">(Tubar&atilde;o 4)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">531</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">729</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-27.2%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">720</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-26.3%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,948</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">777</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">150.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&nbsp;Nibrasco </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 7pt; color: #555555; line-height: 90%">(Tubar&atilde;o 5 and 6)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,935</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,261</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">53.4%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">837</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">131.2%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4,350</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3,175</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">37.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&nbsp;Kobrasco </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 7pt; color: #555555; line-height: 90%">(Tubar&atilde;o 7)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,071</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">489</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">119.0%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">557</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">92.3%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2,412</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2,305</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Tubar&atilde;o 8</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,532</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,549</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-1.1%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,488</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.0%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4,682</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4,692</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-0.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Southern System</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>1,238</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>1,058</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>17.0%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>1,107</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>11.8%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>3,515</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>3,454</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>1.8%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&nbsp;F&aacute;brica</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&nbsp;Vargem Grande</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,238</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,058</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">17.0%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,107</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">11.8%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3,515</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3,454</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Oman</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>2,328</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>2,557</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-9.0%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>2,628</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-11.4%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>6,515</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>6,960</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D2F2EC; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-6.4%</B></FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Pellet Production</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>10,363</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>8,895</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>16.5%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>9,175</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>12.9%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>27,724</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>26,604</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>4.2%</B></FONT></TD></TR>
  <TR STYLE="background-color: #0ABB98">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #3CB5E5 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Pellet Sales</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #ECB11F 2.25pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>10,143</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>8,864</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>14.4%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>8,613</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>17.8%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>28,232</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>25,556</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>10.5%</B></FONT></TD></TR>
  </TABLE>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Gray 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 7pt Vale Sans Light,sans-serif; width: 100%"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%">&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD>&nbsp;</TD><TD STYLE="text-align: center; vertical-align: middle"><P STYLE="font: 9pt/115% Vale Sans,sans-serif; margin: 0 0 8pt; color: #555555">- <!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --> -</P></TD><TD STYLE="text-align: right"><IMG SRC="image_005.jpg" ALT=""></TD></TR></TABLE></DIV>
    <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="text-align: right; font: 22pt/115% Vale Sans,sans-serif; margin: 0 0 8pt; color: #007E7A"><B>&nbsp;<IMG SRC="image_008.jpg" ALT=""></B></P>

<P STYLE="font: 14pt/110% Vale Sans,sans-serif; margin: 0 0 6pt; color: #3CB5E5"><B>Copper - Finished production by source</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border-left: #007E7A 6pt solid; border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>000&rsquo; metric tons</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: #ECB11F 2.25pt solid; border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>2Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>&#916; y/y</B></FONT></TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>66.3</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>61.3</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>8.2%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>66.7</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-0.6%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>188.2</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>170.5</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>10.4%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Salobo</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">46.6</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">46.0</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.3%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">49.6</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-6.0%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">140.9</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">125.1</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">12.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Sossego</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">19.7</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">15.3</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">28.8%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">17.1</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">15.2%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">47.3</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">45.4</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.2%</FONT></TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Canada</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>19.6</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>17.3</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>13.3%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>14.9</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>31.5%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>58.1</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>57.0</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>1.9%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Sudbury</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">11.6</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">13.9</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-16.5%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9.4</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">23.4%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">42.3</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">42.4</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-0.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Thompson</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.2</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">n.a.</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.6</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">100.0%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.7</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.8</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">105.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Voisey's Bay</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.6</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.7</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">33.3%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.7</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">33.3%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9.1</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7.0</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">30.0%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 13.95pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Feed from third parties<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.1</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">0.7</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">57.1%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.2</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-8.3%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.0</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5.8</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-48.3%</FONT></TD></TR>
  <TR STYLE="background-color: #3CB5E5">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Copper Production</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>85.9</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>78.6</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>9.3%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>81.6</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>5.3%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>246.3</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>227.5</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>8.3%</B></FONT></TD></TR>
  <TR STYLE="background-color: #3CB5E5">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Copper Sales</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>75.2</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>76.1</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>-1.2%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>73.8</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>1.9%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>228.1</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>210.3</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>8.5%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Copper Sales Brazil</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">61.3</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">58.2</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5.3%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">61.8</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-0.8%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">175.9</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">157.7</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">11.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Copper Sales Canada</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #ECB11F 2.25pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">13.9</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">18.0</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-22.8%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">12.0</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">15.8%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">52.2</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">52.5</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-0.6%</FONT></TD></TR>
  </TABLE>
<P STYLE="color: #747678; font: 10pt Arial, Helvetica, Sans-Serif; margin: 4pt 0 0; letter-spacing: -0.1pt; text-align: left"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 6pt; color: #555555; letter-spacing: 0pt"><SUP>1
</SUP>External feed purchased from third parties and processed into copper in our Canadian operation.</FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 7pt; color: gray"><BR>
<BR>
</FONT></P>

<P STYLE="font: 14pt/115% Vale Sans,sans-serif; margin: 0 0 8pt; color: #3CB5E5"><B>Nickel</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 35%; border-left: #007E7A 6pt solid; border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&lsquo;000 metric tons</B></FONT></TD>
    <TD STYLE="width: 8%; border-top: #ECB11F 2.25pt solid; border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>2Q24</B></FONT></TD>
    <TD STYLE="width: 9%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>&#916; y/y</B></FONT></TD></TR>
  <TR STYLE="background-color: #3CB5E5">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Finished Production by Source</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Canada</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>21.5</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>7.3</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>194.5%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>12.6&sup3;</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>70.6%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>45.7</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>43.0&sup3;</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>6.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Sudbury</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">12.3</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.1</FONT></TD>
    <TD STYLE="background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">296.8%</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.7&sup3;</FONT></TD>
    <TD STYLE="background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">83.6%</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">25.6</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">26.2&sup3;</FONT></TD>
    <TD STYLE="background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-2.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Thompson</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.1</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.8</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">72.2%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.0&sup3;</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">55.0%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7.3</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.8&sup3;</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Voisey's Bay</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.1</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.4</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">154.2%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.9</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">56.4%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">12.9</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">10.0</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">29.0%</FONT></TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>6.2</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>3.0</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>106.7%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>5.8</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>6.9%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>9.2</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>16.4</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-43.9%</B></FONT></TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Indonesia</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>16.2</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-100.0%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>17.1</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-100.0%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>34.9</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>44.3</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-21.2%</B></FONT></TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>External feed</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>19.3</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>1.4</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>1.278.6%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>6.6</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>192.4%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>9.4</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>16.3</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>-42.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; background-color: white; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Feed from third-parties&sup1;</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.1</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: white; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.4</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">192.9%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: white; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.6&sup3;</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-37.9%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9.4</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: white; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">16.3&sup3;</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-42.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; background-color: white; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">PTVI offtake<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">15.2</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: white; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">n.a.</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: white; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">n.a.</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">15.2</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: white; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">n.a.</FONT></TD></TR>
  <TR STYLE="background-color: #3CB5E5">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Finished Production by Site</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Sudbury</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">17.4</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.6</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">278.3%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">12.8</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">35.9%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">35.8</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">41.4</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-13.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Voisey&rsquo;s Bay &amp; Long Harbour</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9.5</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.2</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">126.2%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.9</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">37.7%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">21.3</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">19.4</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">On&ccedil;a Puma</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.2</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3.0</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">106.7%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5.8</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.9%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9.2</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">16.4</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-43.9%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Clydach</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8.0</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5.5</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">45.5%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">8.6</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-7.0%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">23.7</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">20.9</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">13.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Matsusaka</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5.5</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.3</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-12.7%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.0</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">37.5%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">15.1</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">11.4</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">32.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Others<SUP>2</SUP></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">0.5</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.3</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-88.4%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.0</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-87.5%</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">9.3</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">10.5</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-11.4%</FONT></TD></TR>
  <TR STYLE="background-color: #3CB5E5">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Nickel Production</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>47.1</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>27.9</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>68.8%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>42.1</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>11.9%</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>114.4</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>120.0</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>-4.7%</B></FONT></TD></TR>
  <TR STYLE="background-color: #3CB5E5">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Nickel Sales</B></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #ECB11F 2.25pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>40.7</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>34.3</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>18.7%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>39.2</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>3.8%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>108.1</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>119.6</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>-9.6%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0 0 8pt; text-indent: -4.3pt; color: #555555"><SUP><BR>
1</SUP> External feed purchased from third parties and processed into finished nickel in our Canadian operations. It does not include
feed purchased from PTVI.</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0 0 8pt 4.3pt; text-indent: -4.3pt; color: #555555"><SUP>2</SUP> Includes intermediates
produced in Thompson and PTVI, tolling and others.</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0 0 8pt 4.3pt; text-indent: -4.3pt; color: #555555"><SUP>3</SUP> Restated from
historical figures.</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0 0 8pt 4.3pt; text-indent: -4.3pt; color: #555555"><SUP>4</SUP> Starting from
3Q24, PTVI sourced production is reported as &ldquo;External feed&rdquo; and reflects solely the 80%-offtake attributable to Vale Base
Metals processed at downstream facilities. Before, PTVI production was 100% consolidated by Vale.</P>

<P STYLE="color: #555555; font: 6pt Vale Sans Light,sans-serif; margin: 0; letter-spacing: -0.1pt; text-align: left"><FONT STYLE="letter-spacing: 0pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt/110% Vale Sans,sans-serif; margin: 0 0 6pt; color: #3CB5E5"><B>Energy Transition Metals by-products - Finished production</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 36%; border-left: #007E7A 6pt solid; border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%">&nbsp;</TD>
    <TD STYLE="width: 8%; border-top: #ECB11F 2.25pt solid; border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>2Q24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>3Q23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 90%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M24</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>9M23</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>&Delta; y/y</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Cobalt (metric tons)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">714</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">189</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">277.8%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">452</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">58.0%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,384</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1,410</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-1.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Platinum (000&rsquo; oz troy)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">23</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">17</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">35.3%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">24</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-4.2%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">71</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">94</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-24.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Palladium (000&rsquo; oz troy)</FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">20</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">24</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-16.7%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">24</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-16.7%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">82</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">110</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-25.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Gold (000&rsquo; oz troy)<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">103</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">102</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.0%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">117</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">-12.0%</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">309</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">287</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7.7%</FONT></TD></TR>
  <TR STYLE="background-color: #3CB5E5">
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Total by-Products </B></FONT><B><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 5.5pt; color: white; line-height: 90%">(000&rsquo; metric tons Cu eq.)<SUP>2 3</SUP></FONT></B></TD>
    <TD STYLE="border-right: #ECB11F 2.25pt solid; border-bottom: #ECB11F 2.25pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>35</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>31</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>12.9%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>38</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>-7.9%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>104</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>111</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: right; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>-6.3%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 14pt/110% Vale Sans,sans-serif; margin: 0 0 6pt; color: #3CB5E5"><B></B></P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0 0 8pt; color: #555555"><BR>
<SUP>1</SUP> Includes Gold from Copper and Nickel operations.</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0 0 8pt; color: #555555"><SUP>2</SUP> Includes Iridium, Rhodium, Ruthenium and
Silver.</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0 0 8pt; color: #555555"><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.<BR>
<BR>
</P>


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<P STYLE="font: 22pt Vale Sans,sans-serif; color: #007E7A; margin: 0; letter-spacing: -0.1pt; text-align: right"><B>&nbsp;<IMG SRC="image_008.jpg" ALT=""></B></P>

<P STYLE="font: bold 13pt Vale Sans,sans-serif; color: rgb(0,126,122); margin: 0 0 6pt"><FONT STYLE="font-size: 22pt">Annex 2: Energy Transition
Metals:<BR>
</FONT><FONT STYLE="font-size: 18pt">Maintenance scheduled in 2024</FONT></P>

<P STYLE="color: #007E7A; font: bold 3pt/110% Vale Sans,sans-serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 28%; border-left: #007E7A 6pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>Q1</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>Q2</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>Q3</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; letter-spacing: -0.3pt; line-height: 90%"><B>Q4</B></FONT></TD></TR>
  <TR STYLE="background-color: #3CB5E5">
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Copper operations</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Salobo</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: #007E7A 6pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Salobo I &amp; II</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&lt; 1 week</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1 week</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1 week</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1 week</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Salobo III</FONT></TD>
    <TD STYLE="background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&lt; 1 week</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3 weeks</FONT></TD>
    <TD STYLE="background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.5 weeks</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&lt;1 week</FONT></TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Sossego</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 14.1pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Sossego</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.5 weeks</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4 weeks</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.5 weeks</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1 week</FONT></TD></TR>
  <TR STYLE="background-color: #3CB5E5">
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 90%"><B>Nickel operations</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Sudbury</B></FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Coleman</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.5 weeks</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Creighton</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1 week</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5.5 weeks</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Copper Cliff North</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4 weeks</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Copper Cliff South</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2 weeks</FONT></TD>
    <TD STYLE="border-top: #BFBFBF 1pt solid; border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Garson</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Totten</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Clarabelle mill</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1 week</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">3 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Sudbury Smelter</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">7 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Sudbury Refinery</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Port Colborne </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 7pt; color: #555555; line-height: 90%">(Ni, Co &amp; PGMs)</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Thompson</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Thompson mine</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Thompson mill</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Voisey&rsquo;s Bay &amp; Long Harbour</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Voisey&rsquo;s Bay</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">2.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1 week</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Long Harbour Refinery</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">4.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Standalone Refineries</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Clydach</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">5.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">Matsusaka</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">6.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">On&ccedil;a Puma</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">11 weeks<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&nbsp;&lt;1 week</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&lt;1 week</FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">&lt;1 week</FONT></TD></TR>
  <TR STYLE="background-color: #D7F0F9">
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #007E7A 6pt solid; padding-right: 2.85pt; padding-left: 4.25pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 90%"><B>Indonesia</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-left: #007E7A 6pt solid; padding-left: 6.75pt; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">PTVI (furnaces/kilns only)</FONT></TD>
    <TD STYLE="background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">0 weeks</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">1.5 weeks</FONT></TD>
    <TD STYLE="background-color: #D7F0F9; padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">n.a.</FONT></TD>
    <TD STYLE="padding-right: 2.85pt; padding-left: 4.25pt; text-align: center; line-height: 90%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 90%">n.a</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0 0 8pt; color: #555555"><BR>
&sup1; Refers to the furnace rebuild. The ramp up after maintenance is not included in the number of weeks.</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0 0 8pt; color: #555555">Note: The maintenance schedule may be deliberately adjusted
if it proves beneficial for operations and the overall business.</P>

<P STYLE="font: 6pt Vale Sans Light,sans-serif; margin: 0 0 8pt; color: #555555">The number of weeks is rounded to 0.0 or 0.5 and may
involve more than one maintenance activity within the quarter.</P>


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  <TR>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 5.4pt; padding-left: 5.4pt; width: 40%">
    <P STYLE="font: 12pt/110% Vale Sans,sans-serif; margin: 0 0 3pt 0.2pt; color: #007E7A"><B>&nbsp;</B></P>
    <P STYLE="font: 18pt/110% Vale Sans,sans-serif; margin: 0 0 3pt 0.2pt; color: #007E7A"><B>Investor Relations</B></P>
    <P STYLE="font: 8pt/110% Vale Sans Light,sans-serif; margin: 0; color: gray">&nbsp;</P>
    <P STYLE="font: 11pt/110% Vale Sans,sans-serif; margin: 0; color: #555555"><B><BR>
    Vale.RI@vale.com</B></P>
    <P STYLE="font: 9pt/110% Vale Sans,sans-serif; margin: 0; color: #555555">&nbsp;</P>
    <P STYLE="font: 9pt/110% Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>
    <P STYLE="font: 12pt/110% Arial, Helvetica, Sans-Serif; margin: 0; color: #555555"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt">Thiago
    Lofiego</FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt"><BR>
    </FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt"><B>thiago.lofiego@vale.com</B></FONT></P>
    <P STYLE="font: 9pt/110% Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>
    <P STYLE="font: 12pt/110% Arial, Helvetica, Sans-Serif; margin: 0; color: #555555"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt">Mariana
    Rocha</FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt"><BR>
    </FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt"><B>mariana.rocha@vale.com</B></FONT></P>
    <P STYLE="font: 9pt/110% Vale Sans,sans-serif; margin: 0; color: #555555">&nbsp;</P>
    <P STYLE="font: 12pt/110% Arial, Helvetica, Sans-Serif; margin: 0; color: #555555"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt">Luciana
    Oliveti</FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt"><BR>
    </FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt"><B>luciana.oliveti@vale.com</B></FONT></P>
    <P STYLE="font: 9pt/110% Vale Sans,sans-serif; margin: 0; color: #555555">&nbsp;</P>
    <P STYLE="font: 12pt/110% Arial, Helvetica, Sans-Serif; margin: 0 0 3pt 0.2pt; color: #555555"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt">Pedro
    Terra</FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt"><BR>
    </FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt"><B>pedro.terra@vale.com</B></FONT></P>
    <P STYLE="font: 9pt/110% Vale Sans Light,sans-serif; margin: 0; color: #555555">&nbsp;</P>
    <P STYLE="font: 12pt/110% Arial, Helvetica, Sans-Serif; margin: 0; color: #555555"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt">Patricia
Tinoco</FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt"><BR>
</FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt"><B>patricia.tinoco@vale.com</B></FONT></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 59%"><P STYLE="font: 12pt/110% Arial, Helvetica, Sans-Serif; margin: 0; color: #555555"><P STYLE="font: 9pt/115% Vale Sans Light,sans-serif; margin: 0 0 8pt; text-align: justify; color: gray">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></TD></TR>
  </TABLE>

<P STYLE="font: 8pt/115% Vale Sans Light,sans-serif; margin: 0 0 8pt">&nbsp;&nbsp;</P>

<P STYLE="font: bold 16pt Caecilia Light; margin: 0; text-align: justify; color: #007e7a"></P>

<P STYLE="font: 8pt Arial,sans-serif; margin: 0; text-align: right; color: gray"><B>&nbsp;</B></P>



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

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

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

<!-- Field: Page; Sequence: 9 -->
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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: October 15, 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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<DOCUMENT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
