<SEC-DOCUMENT>0001292814-25-001494.txt : 20250416
<SEC-HEADER>0001292814-25-001494.hdr.sgml : 20250416
<ACCEPTANCE-DATETIME>20250415182439
ACCESSION NUMBER:		0001292814-25-001494
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250416
DATE AS OF CHANGE:		20250415

FILER:

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

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15030
		FILM NUMBER:		25840843

	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>vale20250415_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">April 2025</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>

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<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<B>&nbsp;</B>&nbsp;<IMG SRC="vale202504156k_001.jpg" ALT=""></P>

<P STYLE="font: 10pt/120% Vale Sans,sans-serif; margin: 0; color: #FF0090"><B>&nbsp;</B></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
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    <TD STYLE="width: 1%; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 98%; background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.65pt; padding-left: 26.95pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%; text-indent: -17pt"><FONT STYLE="font-family: Calibri,sans-serif; color: #007C7A; line-height: 120%">&#8226;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; color: #007C7A; line-height: 120%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A; line-height: 120%"><B>Vale's performance in Q1 was marked by higher y/y iron ore sales and progress in the commissioning of the VGR1 and Capanema projects, ensuring greater operational flexibility and adherence to the 2025 production guidance. Copper and Nickel operational performance was strong, reflecting the consistent performance across all assets, as well as the ramp-up of the VBME project in Canada.</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.65pt; padding-left: 26.95pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%; text-indent: -17pt"><FONT STYLE="font-family: Calibri,sans-serif; color: #007E7A; line-height: 120%">&#8226;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; color: #007E7A; line-height: 120%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; line-height: 120%">Iron ore production totaled 67.7 Mt, 4% (3.2 Mt) lower y/y, as per Vale&#8217;s mine plan, while high rainfall levels further impacted the Northern System. S11D continued to perform well, reaching the highest production ever for a first quarter. Pellets production totaled 7.2 Mt, 15% (1.3 Mt) lower y/y, due to lower pellet feed availability. Iron ore sales totaled 66.1 Mt, 4% (2.3 Mt) higher y/y, driven by Vale&#8217;s supply chain flexibility using advanced inventories.</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.65pt; padding-left: 26.95pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%; text-indent: -17pt"><FONT STYLE="font-family: Calibri,sans-serif; color: #007E7A; line-height: 120%">&#8226;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; color: #007E7A; line-height: 120%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; line-height: 120%">Copper production totaled 90.9 kt, 11% (9.0 kt) higher y/y, with a strong operational performance at Salobo, Sossego and Voisey&#8217;s Bay following the ramp-up of Salobo 3 and Voisey&#8217;s Bay&#8217;s underground mines.</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; padding-right: 2.65pt; padding-left: 26.95pt; font-family: Times New Roman,serif; text-align: justify; line-height: 10.8pt; text-indent: -17pt"><FONT STYLE="font-family: Calibri,sans-serif; color: #007E7A">&#8226;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; color: #007E7A">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">Nickel production totaled 43.9 kt, 11% (4.4 kt) higher y/y, mainly reflecting higher production at On&ccedil;a Puma after the furnace rebuild in 1Q24 and stronger asset performance in Canada, further fueled by VBME&#8217;s ramp-up.</FONT></TD>
    <TD STYLE="vertical-align: bottom; background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #F2F2F2; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 1pt/120% Vale Sans,sans-serif; margin: 0 0 15pt; color: #FF0090"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/120% Vale Sans,sans-serif; margin: 0 0 1pt"><IMG SRC="vale202504156k_002.jpg" ALT=""><B><FONT STYLE="font-size: 10pt; color: #FF0090">&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 22pt; color: #0ABB98">Highlights</FONT></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
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    <TD STYLE="vertical-align: bottom; border-right: #ECB11F 1pt solid; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="background-color: #007E7A; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 14pt; color: white; line-height: 120%"><B>Production Summary</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 1%; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 35%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>000&#8217; metric tons</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q25</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>4Q24</B></FONT></TD>
    <TD STYLE="width: 10%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; q/q</B></FONT></TD>
    <TD STYLE="width: 14%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>2025 guidance</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Iron ore<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;67,664&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;70,826&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-4.5%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;85,279&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-20.7%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">325-335 Mt</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Pellets</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;7,183&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;8,467&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-15.2%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;9,167&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-21.6%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">38-42 Mt<SUP>2</SUP></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Copper</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;90.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;81.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;11.0%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;101.8&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-10.7%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">340-370 kt</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Nickel</FONT></TD>
    <TD STYLE="border-bottom: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;43.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;39.5&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;11.1%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;45.5&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-3.5%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">160-175 kt</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0 0 10pt; text-align: justify; color: #555555"><SUP>1</SUP>&nbsp;Including
third-party purchases, run-of-mine and feed for pelletizing plants. <SUP>2&nbsp; </SUP>Iron ore agglomerates guidance, including iron
ore pellets and briquettes.</P>

<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0 0 1pt; text-align: justify; color: #555555">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 1%; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 34%; border-left: #ECB11F 1pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #007E7A; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 14pt; color: white; line-height: 120%"><B>Sales Summary</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-bottom: #EDB111 2.25pt solid; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-bottom: #B6B6B6 1pt solid; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-bottom: #B6B6B6 1pt solid; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-bottom: #B6B6B6 1pt solid; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 13%; border-bottom: #B6B6B6 1pt solid; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>000&#8217; metric tons</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q25</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q24</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>4Q24</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; q/q</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Iron ore</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;66,141&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;63,826&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;3.6%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;81,196&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-18.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Fines<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;56,762&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;52,546&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;8.0%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;69,912&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-18.8%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Pellets</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;7,493&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;9,225&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-18.8%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;10,067&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-25.6%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">ROM</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,886&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;2,056&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-8.3%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,216&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;55.1%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Copper</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;81.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;76.8&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;6.6%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;99.0&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-17.3%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Nickel</FONT></TD>
    <TD STYLE="border-bottom: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;38.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;33.1&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;17.5%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;47.1&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-17.4%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0 0 10pt; text-align: justify; color: #555555"><SUP>1</SUP>&nbsp;Including
third-party purchases.</P>

<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0 0 1pt; text-align: justify; color: #555555">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; border-right: #ECB11F 1pt solid; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="background-color: #007E7A; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 14pt; color: white; line-height: 120%"><B>Price Realization Summary</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; width: 1%; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 34%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>US$/t</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q25</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>4Q24</B></FONT></TD>
    <TD STYLE="width: 13%; border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; q/q</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Iron ore fines (CFR/FOB, wmt)</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;90.8&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;100.7&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-9.8%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;93.0&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-2.4%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Iron ore pellets (CFR/FOB, wmt)</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;140.8&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;171.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-18.1%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;143.0&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-1.5%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Copper<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;8,891&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;7,687&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;15.7%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;9,187&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-3.2%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-left: #ECB11F 1pt solid; background-color: #EDB111; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #ECB11F 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Nickel</FONT></TD>
    <TD STYLE="border-bottom: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;16,106&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;16,848&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-4.4%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;16,163&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-0.4%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0 0 10pt; text-align: justify; color: #555555"><SUP>1</SUP>&nbsp;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$ 8,630/t in 1Q25.</P>


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<P STYLE="font: 22pt/120% Vale Sans,sans-serif; margin: 0 0 20pt; color: #0ABB98"><B>Iron ore and pellets operations</B></P>

<DIV STYLE="position: relative; float: left; width: 48%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 12pt/135% Times New Roman,serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 3%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #007C7A">&#8226;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; color: #007C7A">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; width: 97%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>Northern System: production de<FONT STYLE="background-color: white">creased</FONT>
by 0.9 Mt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">, impacted by Serra Norte&#8217;s
licensing restrictions, already considered in the production plan, intensified by higher rainfall levels. These effects were partially
offset by solid operational performance at S11D, achieving the highest production ever for a Q1, driven by the ongoing asset reliability
initiatives.</FONT></TD></TR>
</TABLE>


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<TD STYLE="width: 3%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #007C7A">&#8226;</FONT></TD><TD STYLE="text-align: justify; width: 97%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>Southeastern
System: output decreased by 1.2 Mt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
driven by a 49-day corrective maintenance period at the Cau&ecirc; plant, which impacted Itabira&#8217;s production. This decline was
partially offset by (i) improved performance at Fazend&atilde;o as a result of enhancements implemented at the processing plant throughout
2024, and (ii) increased third-party purchases. The Capanema project is ramping-up on schedule and is expected to reach full capacity
in the first quarter of 2026.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 3%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007C7A">&#8226;</FONT></TD><TD STYLE="text-align: justify; width: 97%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>Southern
System: production was 1.1 Mt <FONT STYLE="background-color: white">lower</FONT> y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
<FONT STYLE="background-color: white">mainly driven by our plan to prioritize the production of higher-margin products in response to
current market conditions. The VGR1 project ramp-up continues to advance and is expected to be completed in the second quarter of 2026.</FONT></FONT></TD></TR></TABLE>

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<TD STYLE="width: 3%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007C7A">&#8226;</FONT></TD><TD STYLE="text-align: justify; width: 97%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>Pellets: production
was 1.3 Mt lower y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; background-color: white">,
due to (i) lower production at the Tubar&atilde;o plants resulting from lower pellet feed availability from Itabira and (ii) increased
rainfall levels in the Northern System, which impacted the moisture grade of the pellet feed and, as a result, the performance of the
S&atilde;o Luis plant.</FONT></TD></TR></TABLE>



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<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 3%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #007C7A">&#8226;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; color: #007C7A">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; width: 97%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>Iron ore sales totaled 66.1 Mt</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; background-color: white">,
2.3 Mt higher y/y, supported by the sale of advanced inventories formed in previous quarters to counterbalance the shipment restrictions
due to rains in the Northern System. Given current market conditions, Vale has prioritized offering medium-grade products such as our
blended products (BRBF) and concentrated products in China (PFC1), aiming at maximizing value generation of our portfolio.</FONT></TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 12pt/135% Times New Roman,serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 3%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #007C7A">&#8226;</FONT><FONT STYLE="font-family: Times New Roman; font-size: 7pt; color: #007C7A">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  <TD STYLE="text-align: justify; width: 97%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>The all-in premium totaled US$ <FONT STYLE="background-color: white">1.8</FONT>/t<SUP>1</SUP></B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; background-color: white">,
US$ 2.8/t lower q/q, driven by the lower iron ore fines premiums (US$ -1.3/t vs. US$1.0/t in 4Q24), impacted by seasonally lower availability
of Northern System ores and lower market premiums.</FONT></TD></TR>
</TABLE>


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<TD STYLE="width: 3%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007C7A">&#8226;</FONT></TD><TD STYLE="text-align: justify; width: 97%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>The average realized
iron ore fines price was US$ 90.8/t</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
US$ 2.2/t <FONT STYLE="background-color: white">lower q/q mainly driven by lower premiums. </FONT></FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>The
average realized pellet price </B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; background-color: white">also
decreased by US$ 2.2/t q/q,</FONT> <FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007E7A"><B>totaling US$ 140.8/t</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555; background-color: white">,
due to lower quarterly contractual premiums.</FONT> <FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #007C7A"><BR STYLE="clear: both">
</FONT></TD></TR></TABLE>
</div>

<DIV STYLE="position: relative; float: left; margin-left: 3%; width: 49%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">
<IMG SRC="vale202504156k_004.jpg" ALT=""></div>


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

<P STYLE="font: 7pt Vale Sans Light,sans-serif; margin: 0; color: #555555"><FONT STYLE="background-color: white"><SUP>1</SUP> Iron ore
fines premium of US$ -1.3/t and the weighted average contribution of the pellet business of US$ 3.1/t.</FONT></P>

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<P STYLE="font: 22pt/120% Vale Sans,sans-serif; margin: 0 0 20pt; color: #3CB5E5"><B>Copper
operations</B></P>
<DIV STYLE="position: relative; float: left; width: 48%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/135% Times New Roman,serif; margin-top: 1pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>Salobo: copper production
increased by 3.9 kt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">, as a result
of consistent operational performance, with the Salobo complex's throughput exceeding an average of 35 Mtpy over 90 days.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>Sossego: copper production
increased by 3.7 kt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">, due to a lower
base from last year, as a scheduled maintenance shutdown impacted 1Q24&#8217;s performance.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/135% Times New Roman,serif; margin-top: 1pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>Canada: copper production
increased by 1.3 kt y/y</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">, mainly reflecting
the ramp-up and stable performance of the Voisey&#8217;s Bay operation.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/135% Times New Roman,serif; margin-top: 1pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify; padding-right: 2.75pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>Payable
copper sales<SUP>2</SUP> totaled 81.9 kt in the quarter</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
5.1 kt higher y/y, in line with the increase in production.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/135% Times New Roman,serif; margin-top: 1pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>The average copper
realized price was US$ 8,891/t</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">, US$
296/t lower q/q, due to timing of final pricing, which was partially offset by higher average LME prices and lower TC/RC discounts.</FONT></TD></TR></TABLE>
</div>

<DIV STYLE="position: relative; float: left; margin-left: 3%; width: 49%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">
<IMG SRC="vale202504156k_005.jpg" ALT="">&nbsp;</div>

<P STYLE="font: 9.5pt/120% Vale Sans Light,sans-serif; margin: 1pt 0 10pt; text-align: justify; text-indent: 1pt; color: #555555">&nbsp;</P>

<P STYLE="font: 22pt/120% Vale Sans,sans-serif; margin: 0 0 20pt; color: #3CB5E5"><B>&nbsp;</B></P>

<P STYLE="font: 22pt/120% Vale Sans,sans-serif; margin: 0 0 20pt; color: #3CB5E5"><B>Nickel operations</B></P>
<DIV STYLE="position: relative; float: left; width: 48%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/135% Times New Roman,serif; margin-top: 10pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>Sudbury:
own sourced finished nickel production slightly decreased by 0.3 kt y/y</B></FONT> <FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">mainly
due to a timing mismatch between mined material and refined production.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/135% Times New Roman,serif; margin-top: 10pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>Voisey&#8217;s Bay:
own sourced finished nickel production increased by 2.1 kt y/y </B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">driven
by the consistent ramp-up of Voisey&#8217;s Bay&#8217;s underground operations. The full ramp up is expected to be concluded in 2H26.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/135% Times New Roman,serif; margin-top: 10pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>Thompson: own sourced
finished nickel production increased by 1.2 kt y/y, </B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">driven
by additional volume delivered to Sudbury.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/12.8pt Times New Roman,serif; margin-top: 10pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>On&ccedil;a Puma:
finished nickel production increased by 5.4 kt y/y </B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">as
furnace 1 was halted for rebuilding in 1Q24. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/135% Times New Roman,serif; margin-top: 10pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>Nickel sales totaled
38.9 kt in the quarter, 5.0 kt lower than production</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
due to inventories build-up to meet committed sales during planned maintenance at the Canadian refineries in Q2.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt/135% Times New Roman,serif; margin-top: 10pt; margin-bottom: 10pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 9.95pt"></TD><TD STYLE="width: 17pt"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5">&#8226;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B>The average nickel
realized price was US$ 16,106/t in the quarter</B></FONT><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9.5pt; color: #555555">,
down US$ 57/t q/q, reflecting lower LME prices.</FONT><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9.5pt; color: #3CB5E5"><B><BR STYLE="clear: both">
</B></FONT></TD></TR></TABLE>
</div>

<DIV STYLE="position: relative; float: left; margin-left: 3%; width: 49%; padding-right: 0%; padding-bottom: 8pt; overflow: hidden; padding-top: 3pt">
<IMG SRC="vale202504156k_006.jpg" ALT=""></div>

<P STYLE="font: 9.5pt/120% Vale Sans Light,sans-serif; margin: 1pt 0 10pt; text-align: justify; text-indent: 1pt; color: #555555">&nbsp;</P>

<P STYLE="font: 22pt/120% Vale Sans,sans-serif; margin: 0 0 20pt; color: #3CB5E5"><B>&nbsp;</B></P>
<HR ALIGN="LEFT" SIZE="1" STYLE="width: 33%">

<P STYLE="font: 7pt Vale Sans Light,sans-serif; margin: 0; color: #555555"><SUP>2</SUP> Sales volumes are lower than production volumes
due to payable copper vs. contained copper: part of the copper contained in the concentrates is lost in the smelting and refining process,
hence payable quantities of copper are approximately 3.5% lower than contained volumes.</P>
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<P STYLE="font: 22pt/120% Vale Sans,sans-serif; margin: 0 0 20pt; color: #007E7A"><B>Annex 1: Production and sales summary</B></P>

<P STYLE="font: 14pt/120% Vale Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #0ABB98"><B>Iron ore </B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 1%; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 38%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>000&#8217; metric tons</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: #EDB111 2.25pt solid; border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q25</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>4Q24</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; q/q</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Northern System</B></FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;34,981&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;35,929&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-2.6%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;51,942&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-32.7%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Serra Norte and Serra Leste</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;15,615&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;18,218&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-14.3%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;28,274&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-44.8%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">S11D</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;19,366&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;17,711&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;9.3%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;23,667&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-18.2%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Southeastern System</B></FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;18,396&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;19,551&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-5.9%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;22,097&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-16.7%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">Itabira (Cau&ecirc;, Concei&ccedil;&atilde;o and others)</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;5,494&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;7,599&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-27.7%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;7,722&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-28.9%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Minas Centrais (Brucutu and others)</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;6,751&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;6,397&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;5.5%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;8,083&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-16.5%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Mariana (Alegria, Timbopeba and others)</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;6,150&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;5,555&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;10.7%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;6,292&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-2.3%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Southern System</B></FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;14,287&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;15,347&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-6.9%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;11,241&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;27.1%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">Paraopeba (Mutuca, F&aacute;brica and others)</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;4,774&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;6,525&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-26.8%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;4,214&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;13.3%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Vargem Grande (VGR, Pico and others)</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;9,513&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;8,822&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;7.8%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;7,027&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;35.4%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Iron Ore Production<SUP>1</SUP></B></FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;67,664&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;70,826&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-4.5%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;85,279&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-20.7%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Own production</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;61,111&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;65,013&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-6.0%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;79,609&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-23.2%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Third-party purchases</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;6,553&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;5,813&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;12.7%</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;5,671&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;15.6%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Iron Ore Sales</B></FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;66,141&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;63,826&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;3.6%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;81,196&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-18.5%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Fines Sales<SUP>2</SUP></B></FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;56,762&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;52,546&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;8.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;69,912&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-18.8%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">IOCJ</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;4,596&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;9,400&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-51.1%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;9,287&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-50.5%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">BRBF</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;36,391&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;25,915&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;40.4%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;43,890&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-17.1%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Pellet feed &#8211; China (PFC1)<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;3,809&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;2,536&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;50.2%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;3,585&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;6.2%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Lump</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,679&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,809&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-7.2%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,535&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;9.4%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">High-silica products</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,957&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;7,163&#9;&#8308;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-72.7%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;852&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;129.7%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Other fines (60-62% Fe)</FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;8,329&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;5,723&#9;&#8308;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;45.5%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;10,764&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-22.6%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Pellet Sales</B></FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;7,493&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;9,225&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-18.8%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;10,067&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-25.6%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>ROM Sales</B></FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;1,886&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;2,056&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-8.3%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;1,216&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;55.1%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Sales from 3rd party purchase</B></FONT></TD>
    <TD STYLE="border-right: #EDB111 2.25pt solid; border-bottom: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;6,222&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;5,648&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;10.2%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;5,290&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;17.6%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0 0 10pt; text-align: justify; color: #555555"><SUP>1</SUP> Including third
party purchases, run-of-mine and feed for pelletizing plants. <FONT STYLE="background-color: white">Vale&#8217;s product portfolio Fe
content reached</FONT> 61.7%, alumina 1.3% and silica 6.8% <FONT STYLE="background-color: white">in 1Q25. </FONT><SUP>2</SUP> Including
third-party purchases. <SUP>3</SUP> Products concentrated in Chinese facilities. <FONT STYLE="background-color: white"><SUP>4</SUP> Restated
from historical figures.</FONT></P>

<P STYLE="font: 9.5pt/120% Vale Sans Light,sans-serif; margin: 0 0 10pt; text-align: justify; color: #555555">&nbsp;</P>

<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0; text-align: justify; color: #555555">&nbsp;</P>

<P STYLE="font: 14pt/120% Vale Sans,sans-serif; margin: 0; text-align: justify; color: #0ABB98"><B>Pellets</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 1%; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 39%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8216;000 metric tons</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q25</B></FONT></TD>
    <TD STYLE="width: 12%; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1T24</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>4Q24</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; q/q</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Northern System</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-top: 1.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;370&#9;</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-top: 1.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;766&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-51.7%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;521&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-29.0%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">S&atilde;o Luis</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;370&#9;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-top: 1.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;766&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-51.7%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;521&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-29.0%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Southeastern System</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;3,722&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;4,852&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-23.3%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;5,328&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-30.1%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">Itabrasco (Tubar&atilde;o 3)</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;754&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;557&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;35.4%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;789&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-4.4%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">Hispanobras (Tubar&atilde;o 4)</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;187&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;688&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-72.8%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;921&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-79.7%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">Nibrasco (Tubar&atilde;o 5 and 6)</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;621&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,153&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-46.1%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,612&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-61.5%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">Kobrasco (Tubar&atilde;o 7)</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;835&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;852&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-2.0%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;896&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-6.8%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">Tubar&atilde;o 8</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,325&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,601&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-17.2%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,110&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;19.4%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="background-color: #D2F2EC; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Southern System</B></FONT></TD>
    <TD STYLE="border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;1,118&#9;</B></FONT></TD>
    <TD STYLE="border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;1,219&#9;</B></FONT></TD>
    <TD STYLE="background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-8.3%</B></FONT></TD>
    <TD STYLE="background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;638&#9;</B></FONT></TD>
    <TD STYLE="background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;75.2%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Vargem Grande</FONT></TD>
    <TD STYLE="border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,118&#9;</FONT></TD>
    <TD STYLE="border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1,219&#9;</FONT></TD>
    <TD STYLE="border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-8.3%&#9;</FONT></TD>
    <TD STYLE="border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;638&#9;</FONT></TD>
    <TD STYLE="border-top: #B6B6B6 1pt solid; border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;75.2%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Oman</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;1,974&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;1,629&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;21.2%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;2,680&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D2F2EC; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-26.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Pellet Production</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;7,183&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;8,467&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-15.2%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>9,167</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-21.6%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Pellet Sales</B></FONT></TD>
    <TD STYLE="border-bottom: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;7,493&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;9,225&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#8211;18.8%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;10,067&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #0ABB98; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-25.6%</B></FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 12pt/120% Times New Roman,serif; margin: 10pt 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 14pt/120% Vale Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #3CB5E5"><B>Copper - Finished production
by source</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 1%; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 39%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>000&#8217; metric tons</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q25</B></FONT></TD>
    <TD STYLE="width: 12%; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>4Q24</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; q/q</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;68.3&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;60.6&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;12.7%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;77.0&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-11.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Salobo</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;52.3&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;48.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;8.1%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;58.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-11.2%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Sossego</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;16.0&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;12.3&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;29.9%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;18.1&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-11.7%</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Canada</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;22.6&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;21.3&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;6.1%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;24.9&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-9.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Sudbury</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;15.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;16.8&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-5.5%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;16.3&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-2.6%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Thompson</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1.0&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;0.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;155.4%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;3.6&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-71.6%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Voisey's Bay</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;4.6&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;2.7&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;70.5%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;3.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;18.0%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Feed from third parties<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1.1&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1.3&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-16.3%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1.2&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-9.4%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Copper Production</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;90.9&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;81.9&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;11.0%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;101.8&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-10.7%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Copper Sales</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;81.9&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;76.8&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;6.6%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;99.0&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-17.3%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Copper Sales Brazil</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;60.8&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;56.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;7.8%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;74.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-18.3%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Copper Sales Canada</FONT></TD>
    <TD STYLE="border-bottom: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;21.1&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;20.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;3.3%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;24.7&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-14.7%&#9;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0; text-align: justify; color: #555555"><SUP>1</SUP>&nbsp;External feed purchased
from third parties and processed into copper in our Canadian operation.</P>

<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0; text-align: justify; color: #555555">&nbsp;</P>

<P STYLE="font: 14pt/120% Vale Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #3CB5E5"><B>Nickel</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 1%; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 39%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8216;000 metric tons</B></FONT></TD>
    <TD STYLE="width: 12%; border-top: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q25</B></FONT></TD>
    <TD STYLE="width: 12%; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>4Q24</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; q/q</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Finished Production by Source</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.2pt; padding-left: 1.6pt; font-family: Times New Roman,serif; text-align: center; line-height: 104%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.2pt; padding-left: 1.6pt; font-family: Times New Roman,serif; text-align: center; line-height: 104%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 0.2pt; padding-left: 1.6pt; font-family: Times New Roman,serif; text-align: center; line-height: 104%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 0.2pt; padding-left: 1.6pt; font-family: Times New Roman,serif; text-align: center; line-height: 104%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 0.2pt; padding-left: 1.6pt; font-family: Times New Roman,serif; text-align: center; line-height: 104%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Canada</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;20.0&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;16.9&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;18.2%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;20.0&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-0.2%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Sudbury</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;9.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;10.2&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-3.2%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;10.6&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-6.8%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Thompson</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;3.6&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;2.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;50.8%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;2.9&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;24.8%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Voisey's Bay</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;6.5&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;4.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;47.2%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">6.5</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-0.4%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;5.4&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;&#8211;&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>n.a.</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;4.8&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;13.1%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Indonesia</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;&#8211;&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;18.7&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-100.0%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;&#8211;&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>n.a.</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>External feed</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;18.5&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;3.8&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;386.8%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;20.7&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>&#9;-10.6%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: white; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Feed from third-parties<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;4.3&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: white; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;3.8&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;12.6%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: white; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;4.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-2.8%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: white; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">PTVI offtake<SUP>2</SUP></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;14.2&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: white; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;&#8211;&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">n.a.</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: white; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;16.3&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-12.8%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Finished Production by Site</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Sudbury</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;15.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;13.8&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;11.5%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;14.8&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;3.9%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Voisey&#8217;s Bay &amp; Long Harbour</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;10.0&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;7.7&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;29.7%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;9.2&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;8.6%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">On&ccedil;a Puma</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;5.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;&#8211;&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">n.a.</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;4.8&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;13.1%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Clydach</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;8.4&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;10.2&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-17.2%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;10.5&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-19.6%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Matsusaka</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;4.3&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;3.3&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;31.6%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;5.2&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-16.5%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Others<SUP>3</SUP></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;0.3&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;4.5&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-93.2%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;1.0&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-69.6%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Nickel Production</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;43.9&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;39.5&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;11.1%</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;45.5&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: white 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-3.5%</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Nickel Sales</B></FONT></TD>
    <TD STYLE="border-bottom: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;38.9&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;33.1&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;17.5%</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;47.1&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #BFBFBF 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-17.4%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0 0 10pt; text-align: justify; color: #555555"><SUP>1</SUP>&nbsp;External
feed purchased from third parties and processed into finished nickel in our Canadian operations. It does not include feed purchased from
PTVI. <SUP>2</SUP>&nbsp;Starting from 3Q24, PTVI sourced production is reported as &#8220;External feed&#8221; and reflects solely the
80%-offtake attributable to Vale Base Metals processed at downstream facilities. Before, PTVI production was 100% consolidated by Vale.
<SUP>3</SUP>&nbsp;Includes intermediates produced in Thompson and PTVI, tolling and others.</P>

<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0; text-align: justify; color: #555555">&nbsp;</P>

<P STYLE="font: 14pt/120% Vale Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #3CB5E5"><B>Energy Transition Metals by-products
- Finished production</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 1%; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 39%; border-bottom: #B6B6B6 1pt solid; padding-right: 0.2pt; padding-left: 1.6pt; font-family: Times New Roman,serif; line-height: 104%">&nbsp;</TD>
    <TD STYLE="width: 12%; border-top: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q25</B></FONT></TD>
    <TD STYLE="width: 12%; border-left: #EDB111 2.25pt solid; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>1Q24</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; y/y</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>4Q24</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>&#8710; q/q</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Cobalt (metric tons)</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;739&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;482&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;53.4%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;695&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;6.4%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Platinum (000&#8217; oz troy)</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;24&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;30&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-20.5%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;36&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-33.8%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Palladium (000&#8217; oz troy)</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;27&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;39&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-30.0%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;38&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-28.2%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Gold (000&#8217; oz troy)<SUP>1</SUP></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;115&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;104&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;10.1%&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;136&#9;</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&#9;-15.8%&#9;</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Total by-Products (000&#8217; metric tons Cu eq.)<SUP>2 3</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: #EDB111 2.25pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;47&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; border-left: #EDB111 2.25pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;38&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;23.7%</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;54&#9;</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 0.75pt; font-family: Times New Roman,serif; text-align: right; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>&#9;-13.0%</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0 0 10pt; text-align: justify; color: #555555"><SUP>1</SUP>&nbsp;Includes
Gold from Copper and Nickel operations. <SUP>2</SUP>&nbsp;Includes Iridium, Rhodium, Ruthenium and Silver. <SUP>3</SUP>&nbsp;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.</P>


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<P STYLE="font: 22pt/120% Vale Sans,sans-serif; margin: 0 0 20pt; color: rgb(0,126,122)"><B>Annex 2: Energy Transition Metals </B></P>

<P STYLE="font: 18pt/120% Vale Sans,sans-serif; margin: 0 0 10pt; text-align: justify; color: #007E7A"><B>Maintenance scheduled in 2025</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 1%; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 27%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 1.6pt; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>Q1</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>Q2</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>Q3</B></FONT></TD>
    <TD STYLE="width: 18%; border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #007E7A; line-height: 120%"><B>Q4</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Copper operations</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Salobo</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Salobo I &amp; II</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&lt; 1 week</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&lt; 1 week</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&lt; 1 week</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Salobo III</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&lt; 1 week</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&lt; 1 week</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&lt; 1 week</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Sossego</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Sossego</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&lt; 1 week</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&lt; 1 week</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">1 week</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&lt; 1 week</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: white; line-height: 120%"><B>Nickel operations</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #3CB5E5; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Sudbury</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Coleman</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">4 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Creighton</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Copper Cliff North</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">4 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Copper Cliff South</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">3 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Garson</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">4.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Totten</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">1.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Clarabelle mill</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">4 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Sudbury Smelter</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Sudbury Refinery</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Port Colborne (Ni, Co &amp; PGMs)</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Thompson</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Thompson mine</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">4.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Thompson mill</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">4.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Voisey&#8217;s Bay &amp; Long Harbour</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Voisey&#8217;s Bay</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">2 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Long Harbour Refinery</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">4.5 weeks</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Standalone Refineries</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Clydach</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Matsusaka</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">4.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 9pt; color: #555555; line-height: 120%"><B>Brazil</B></FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; background-color: #007E7A; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 0.1in; font-family: Times New Roman,serif; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">On&ccedil;a Puma</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">1.5 weeks</FONT></TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; background-color: #D7F0F9; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%">&nbsp;</TD>
    <TD STYLE="border-bottom: #B6B6B6 1pt solid; padding-right: 2.65pt; padding-left: 2.65pt; font-family: Times New Roman,serif; text-align: center; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">&lt; 1 week</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 6pt/120% Vale Sans Light,sans-serif; margin: 0 0 10pt; color: #555555">Note: The maintenance schedule may be deliberately
adjusted if it proves beneficial for operations and the overall business.<BR>
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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<P STYLE="font: 12pt Times New Roman,serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 12pt">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 39%; padding-right: 2.65pt; padding-left: 2.65pt"><FONT STYLE="color: rgb(0,126,122); font: bold 18pt Vale Sans">Investor
    Relations</FONT></TD>
    <TD ROWSPAN="20" STYLE="vertical-align: top; width: 61%; padding-top: 2.65pt; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: justify; line-height: 10.8pt"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555">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; &#8220;will&#8221; 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.&nbsp;&nbsp;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.&nbsp;&nbsp;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 &#8220;Forward-Looking Statements&#8221; and &#8220;Risk Factors&#8221; in Vale&#8217;s annual report on Form 20-F.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt; color: #555555; line-height: 120%"><B>Vale.RI@vale.com</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Thiago Lofiego</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt; color: #555555; line-height: 120%"><B>thiago.lofiego@vale.com</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Mariana Rocha</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt; color: #555555; line-height: 120%"><B>mariana.rocha@vale.com </B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Luciana Oliveti</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt; color: #555555; line-height: 120%"><B>luciana.oliveti@vale.com&nbsp;&nbsp;</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Pedro Terra</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt; color: #555555; line-height: 120%"><B>pedro.terra@vale.com</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; line-height: 120%"><FONT STYLE="font-family: Vale Sans Light,sans-serif; font-size: 9pt; color: #555555; line-height: 120%">Patricia Tinoco</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2.15pt; padding-bottom: 1pt; font-family: Times New Roman,serif; text-align: justify; line-height: 120%"><FONT STYLE="font-family: Vale Sans,sans-serif; font-size: 11pt; color: #555555; line-height: 120%"><B>patricia.tinoco@vale.com</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 1pt/120% Vale Sans,sans-serif; margin: 0 0 8pt; color: #FF0090"><B>&nbsp;</B></P>



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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Signatures</B></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">Vale S.A.<BR>
    (Registrant) &nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 47%">/s/ Thiago Lofiego</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">Date: April 15, 2025</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0in"> Director of Investor Relations</TD></TR>
  </TABLE>



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



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



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

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