<SEC-DOCUMENT>0001292814-25-002386.txt : 20250610
<SEC-HEADER>0001292814-25-002386.hdr.sgml : 20250610
<ACCEPTANCE-DATETIME>20250609200514
ACCESSION NUMBER:		0001292814-25-002386
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20250630
FILED AS OF DATE:		20250610
DATE AS OF CHANGE:		20250609

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:		251035686

	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>vale20250609_6k.htm
<DESCRIPTION>6-K
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<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>

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<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>

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

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

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

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

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

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<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 6pt; text-align: center"><B>START ANNOUNCEMENT</B></P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 5pt; text-align: center">OF THE PUBLIC OFFERING OF <FONT STYLE="text-transform: uppercase">DISTRIBUTION
OF THE 11TH (ELEVENTH) Issuance of Simple Debentures, not Convertible into Shares, in 3 (Three) series, of the Unsecured Type, for Public
Distribution, under the Automatic Registration Rite, of </FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><IMG SRC="vale202506096k_001.jpg" ALT="" STYLE="width: 124px; height: 84px"></P>

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

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 6pt; text-align: center"><B>VALE S.A.</B></P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 5pt; text-align: center">CNPJ/MF n&ordm; 33.592.510/0001-54 - NIRE 33.300.019.766<BR>
Publicly-held company<BR>
Praia de Botafogo, n&deg; 186, Rooms 901, 1101, 1601 (part), 1701 e 1801</P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 5pt; text-align: center">CEP 22250-145, Rio de Janeiro-RJ</P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 1pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 1pt; text-align: center">in the total amount of</P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 3pt; text-align: center"><B>R$ 6,000,000,000.00.</B></P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 5pt; text-align: center"><B>(six billion reais)</B></P>

<P STYLE="font: 8pt/140% Source Sans Pro SemiBold,sans-serif; margin: 0 0 5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>ISIN CODE FOR FIRST SERIES DEBENTURES: BRVALEDBS0D9</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>ISIN CODE FOR SECOND SERIES DEBENTURES: BRVALEDBS0E7</B></P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 2pt; text-align: center"><B>ISIN CODE FOR THIRD SERIES DEBENTURES: BRVALEDBS0F4</B></P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 2pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 2pt; text-align: center"><B>RISK RATING OF THE ISSUANCE, ON A NATIONAL SCALE, CARRIED
OUT BY MOODY'S &#8211; </B></P>

<P STYLE="font: 12pt Calibri,sans-serif; margin: 0 0 2pt; text-align: center"><B>&quot;AAA. (bra)&quot;</B></P>

<P STYLE="font: 10pt Calibri,sans-serif; margin: 0 0 2pt; text-align: center"><I>This classification was carried out on May 23, 2025,
and the characteristics of the debentures are subject to change.</I></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>THE REGISTRATION OF THE DEBENTURES OFFERING WAS GRANTED
AUTOMATICALLY</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>BY THE BRAZILIAN SECURITIES AND EXCHANGE COMMISSION (&quot;CVM&quot;)
ON JUNE 09, 2025 UNDER NOS:</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>REGISTRATION OF FIRST SERIES DEBENTURES WITH THE CVM:
CVM/SRE/AUT/DEB/PRI/2025/419</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>REGISTRATION OF SECOND SERIES DEBENTURES WITH THE CVM:
CVM/SRE/AUT/DEB/PRI/2025/420</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>REGISTRATION OF THIRD SERIES DEBENTURES WITH THE CVM:
CVM/SRE/AUT/DEB/PRI/2025/421</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt ITC Avant Garde Pro Bk; margin: 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Calibri,sans-serif"><B>1.</B></FONT><B><FONT STYLE="font-family: Times New Roman; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Calibri,sans-serif">SECURITY OFFERED AND IDENTIFICATION OF THE ISSUER</FONT></B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: -11.3pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">Pursuant to Article 59, paragraph 3, of Resolution No.
160 of the Brazilian Securities and Exchange Commission (&quot;<B>CVM</B>&quot;) of July 13, 2022, as in force (&quot;<B>CVM
Resolution 160</B>&quot;), <B>VALE S.A.</B>, a corporation registered as an issuer of securities, category &quot;A&quot;, before the
CVM, in the operational phase, classified as an issuer with great exposure to the market and in the category of frequent issuer of
fixed income securities &#8211; EFRF, headquartered at Praia de Botafogo, n&ordm; 186, rooms 901, 1101, 1601 (part), 1701 and 1801,
CEP 22.250-145, in the city of Rio de Janeiro, State of Rio de Janeiro, registered in the National Registry of Legal Entities of the
Ministry of Finance (&quot;<B>CNPJ/MF&quot;) </B>under No. 33.592.510/0001-54, with its articles of incorporation duly filed with
the Board of Trade of the State of Rio de Janeiro, under the Identification Number of the Registration of Companies - NIRE
33.300.019.766, as issuer (&quot;<B>Issuer</B>&quot;), hereby announces the beginning of the public offering
(&quot;<B>Offering</B>&quot;) of 6,000,000 (six million) simple debentures, not convertible into shares, of the unsecured type, in
three series, of its 11th (eleventh) issue, being <B>(i) </B>2,000,000 (two million) debentures of the first series (&quot;<FONT STYLE="font-family: Calibri,sans-serif"><B>First
Series Debentures</B></FONT>&quot;); <B>(ii) </B>two million (2,000,000) second series debentures (&quot;<FONT STYLE="font-family: Calibri,sans-serif"><B>Second
Series Debentures</B></FONT>&quot;); and <B>(iii)</B> 2,000,000 (two million) debentures of the third series (&quot;<FONT STYLE="font-family: Calibri,sans-serif"><B>Third
Series Debentures</B></FONT>&quot;, and when together with the First Series Debentures and the Second Series Debentures, &quot;<FONT STYLE="font-family: Calibri,sans-serif"><B>Debentures</B></FONT>&quot;),
with a unit face value of R$ 1,000.00 (one thousand reais), totaling, on the Issue Date of the Debentures, that is, May 15, 2025 (&quot;<FONT STYLE="font-family: Calibri,sans-serif"><B>Issue
Date</B></FONT>&quot;).&quot;), the total amount of R$ 6,000,000,000.00 (six billion reais) (&quot;<FONT STYLE="font-family: Calibri,sans-serif"><B>Total
Amount of the Issue</B></FONT>&quot;), pursuant to CVM Resolution 160, intended exclusively for professional investors, as defined pursuant
to articles 11 and 13 of CVM Resolution No. 30, of May 11, 2021, as amended (&quot;<B>Professional Investors</B>&quot;), being, therefore,
subject to the automatic registration procedure of public offering of securities, pursuant to articles 26, item IV, item &quot;a&quot;,
and article 27, item I, and other applicable provisions of CVM Resolution 160 and article 19 of Law No. 6,385, of December 7, 1976, as
amended, and other legal provisions, applicable regulatory and self-regulatory frameworks, as provided for in the <I>&quot;Private
Instrument of Deed of Issuance of Simple Debentures, Non-Convertible into Shares, in Three Series, of the Unsecured Type, for Public Distribution,
under the Automatic Distribution Registration Rite, of the Eleventh Issue of Vale S.A.&quot;</I> entered into on May 23, 2025, between
the Issuer and <B>PENT&Aacute;GONO S.A. DISTRIBUIDORA DE T&Iacute;TULOS E VALORES MOBILI&Aacute;RIOS</B>, REGISTERED WITH THE CNPJ/MF
UNDER No. 17.343.682/0001-38, as fiduciary agent and representative of the holders of the Debentures (&quot;<B>Fiduciary Agent</B>&quot;
and &quot;<B>Original Deed of Issue</B>&quot;, respectively). </P>


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<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">The Original Deed of Issue was amended by the <I>&quot;First
Amendment to the Private Instrument of Deed of Issuance of Simple Debentures, Non-Convertible into Shares, in Three Series, of the Unsecured
Type, for Public Distribution, under the Automatic Distribution Registration Rite, of the Eleventh Issue of Vale S.A.&quot; </I>(&quot;<B>First
Amendment to the Original Deed</B>&quot; and, together with the Original Deed, the &quot;<B>Deed of Issue</B>&quot;), entered into on
June 6, 2025 between the Issuer and the Trustee, to provide for the outcome of the Bookbuilding Procedure (as defined in the Deed of Issue).</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">On this date, the <I>fixing procedure </I> (as defined in
the Deed of Issue) was concluded to set the Remuneration (as defined in the Deed of Issue) of the Debentures, and the following result
was calculated: (i) the Updated Unit Face Value (as defined in the Deed of Issue) of the First Series Debentures will be subject to remunerative
interest corresponding to 6.8881% (six integers and eight thousand eight hundred and eighty-one tenths of thousandths percent) per year,
based on 252 (two hundred and fifty-two) Business Days; (ii) on the Updated Unit Face Value of the Debentures of the Second Series, remunerative
interest corresponding to 6.7624% (six integers and seven thousand six hundred and twenty-four tenths of thousandths of a percent) per
year will be charged, based on 252 (two hundred and fifty-two) Business Days; and (iii) on the Updated Unit Face Value of the Third Series
Debentures, remunerative interest corresponding to 6.7946% (six integers and seven thousand nine hundred and forty-six tenths of thousandths
of a percent) per year will be charged, based on 252 (two hundred and fifty-two) Business Days. The Remuneration of the Debentures will
be calculated as provided for in the Deed of Issue. The result of the <I>fixing </I>procedure indicated above was also reflected in the
Original Deed of Issue through the First Amendment to the Original Deed of Issue.</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">Considering that there was no excess demand higher than
1/3 (one third) of the number of Debentures offered, the placement of the Debentures before Related Persons (as defined in the Deed of
Issue) will be allowed, so that the investment intentions made by Professional Investors of the Offering who were Related Persons were
not automatically canceled, pursuant to Article 56 of CVM Resolution 160.</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">The Issuer undertook to use the funds obtained through the
issuance of the Debentures for future payment or for the reimbursement of expenses, expenses or debts that have been incurred in a period
equal to or less than thirty-six (36) months prior to the closing date of the offering, related to the Investment Projects, as detailed
below and in the Deed of Issuance.</P>


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    <TD COLSPAN="2" STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%"><B>FICO Project</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Investment Projects Holder </FONT></TD>
    <TD STYLE="width: 64%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Vale S.A. (CNPJ n.&ordm;&nbsp;33.592.510/0001&#45;54).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Investment Projects Sector </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Railway.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Object and Objective of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Executive project and implementation work of part of the Central-West Integration Railway (FICO), comprising railway infrastructure and superstructure with an extension of 383 kilometers, 30 OAEs, in addition to the construction of 12 railway yards and 1 railway reversing loop. FICO will be built as class 1, COPANT 477.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Start Date of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">23/03/2022.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Current Phase of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">In implementation.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Estimated Date for Closing of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">31/12/2028.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Social or Environmental Benefits Arising from the Implementation of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">(i) Provide an alternative in the routing of cargo to the
    ports of the North and Northeast, especially those produced in Goi&aacute;s, Mato Grosso and Rond&ocirc;nia, and thus reduce the route
    and cost of maritime transportation of grains and ores exported to ports in the Atlantic Ocean, Europe, the Middle East and Asia.</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">(ii) Increase agro-industrial production in the region,
    motivated by better conditions of access to national and international markets.</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">(iii) To enable and stimulate the exploration of mineral
    reserves that are still little explored.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Estimated Volume of Financial Resources Required to Carry Out Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">R$9,927,837,733.00.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Issuance Amount Allocated to Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">R$4,426,240,726.00.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Use of the Proceeds of the Issue for the Reimbursement of Expenses, Expenses or Debts related to Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">R$1,465,664,761.00.</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 8pt/10pt Source Sans Pro Light,sans-serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 8pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 36%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Percentage of Financial Resources Required for Investment Projects Arising from the Issuance</FONT></TD>
    <TD STYLE="width: 64%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">45%.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Other Sources of Funds from Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Own resources.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Protocol and Process Number before the Ministry</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Protocol No. 308818.0054807/2024; Process No. 50000.030598/2024-15.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: left"><I>&nbsp;</I></P>

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  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%"><B>EFVM Project</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 31%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Investment Projects Holder </FONT></TD>
    <TD STYLE="width: 69%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Vale S.A. (CNPJ n.&ordm;&nbsp;33.592.510/0001&#45;54).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Investment Projects Sector </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Railway.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Object and Objective of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Renewal of permanent track machine fleet and renewal of locomotive fleets. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Start Date of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">01/01/2020.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Current Phase of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">In development.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Estimated Date for Closing of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">31/12/2029.</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 8pt/10pt Source Sans Pro Light,sans-serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 8pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 31%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Social or Environmental Benefits Arising from the Implementation of Investment Projects </FONT></TD>
    <TD STYLE="width: 69%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">In the case of the EFVM Permanent Track Machine Fleet Renewal,
    the project brings the following improvements to the railroad:</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">(i) compliance with requirements for the elimination and/or
    minimization of EFVM's business risks and security standards;</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">(ii) treatment of the current situation of obsolescence
    of machines and their operating systems;</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">(iii) 5.4% increase in the operational availability of the
    renewed large and medium-sized fleets</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">(iv) process optimization and resizing of the fleet of track
    machines, projecting &quot;savings&quot; in the acquisition and maintenance of 69 assets.</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">(v) increasing the level of personal and operational safety
    in critical maintenance activities;</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">(vi) increase and/or restoration of production/capacity
    of equipment fleets;</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">(vii) standardization of fleets and the execution of activities
    in a mechanized manner;</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">Such improvements entail socio-environmental benefits to
    the extent that the project, by contributing to operational safety, supports the mitigation of risks of events with communities and potential
    environmental damage in railway operations. In addition, the project reduces the diesel consumption of current equipment on the EFVM railroad,
    thus reducing Vale's Scope 1 emissions (a category used to describe emissions created directly by the company).</P>
    <P STYLE="font: 12pt/120% Calibri,sans-serif; margin: 0; text-align: justify">In the case of the EFVM Locomotive Fleet Renewal, the fleet
    renewal will bring as benefits the suppression of obsolescence inherent to the Dash fleet, increased tractor effort because it is AC (alternating
    current) traction technology and because it uses a more modern 12-cylinder diesel engine (current Dash fleet is 16) up to 6% fuel savings
    are expected.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Estimated Volume of Financial Resources Required to Carry Out Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">R$1,208,640,319.00.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Issuance Amount Allocated to Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">R$911,777,228.00.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Use of the Proceeds of the Issue for the Reimbursement of Expenses, Expenses or Debts related to Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">R$111,777,228.00.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Percentage of Financial Resources Required for Investment Projects Arising from the Issuance</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">75%.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Other Sources of Funds from Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Own resources.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Protocol and Process Number before the Ministry</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Protocol No. 308818.0071635/2025; Process No. 50000.021950/2025-11.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

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  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%"><B>EFC Project</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 31%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Investment Projects Holder </FONT></TD>
    <TD STYLE="width: 69%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Vale S.A. (CNPJ n.&ordm;&nbsp;33.592.510/0001&#45;54).</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Investment Projects Sector </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Railway.</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 8pt/10pt Source Sans Pro Light,sans-serif; margin: 0 0 5pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 8pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Object and Objective of Investment Projects </FONT></TD>
    <TD STYLE="width: 68%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Acquisition of a new fleet of locomotives and replacement of locomotive fleets.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Start Date of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">01/06/2022.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Current Phase of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">In implementation.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Estimated Date for Closing of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">31/12/2030.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Social or Environmental Benefits Arising from the Implementation of Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">For the projects, as requested in the technical specification, the locomotives will be adapted for operation with 25% biodiesel (B25), above government regulations, thus contributing to the reduction of Greenhouse Gas (GHG) emissions.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Estimated Volume of Financial Resources Required to Carry Out Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">R$713,533,457.00.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Issuance Amount Allocated to Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">R$661,982,046.00.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Use of the Proceeds of the Issue for the Reimbursement of Expenses, Expenses or Debts related to Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">R$1,982,046.00.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Percentage of Financial Resources Required for Investment Projects Arising from the Issuance</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">93%.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Other Sources of Funds from Investment Projects </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Own resources.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Protocol and Process Number before the Ministry</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; line-height: 120%; font-family: Source Sans Pro Light,sans-serif"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt; line-height: 120%">Protocol No. 308818.0071646/2025; Process No. 50000.021538/2025-92.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">The Debentures, therefore, will be issued in the manner
provided for in Article 2 of Law No. 12,431, of June 24, 2011, as amended (&quot;<B>Law 12,431</B>&quot;), considering that the Investment
Projects were framed, pursuant to Article 2 of Law 12,431, Decree No. 11,964, of March 26, 2024 (&quot;<B>Decree 11,964</B>&quot;) and
Ordinance No. 689 of the Ministry of Transportation, of July 17, 2024, as amended by Ordinance No. 201, of March 5, 2025 (&quot;<B>Ordinance MT 689</B>&quot;), as a
priority, observing the protocols carried out with the Ministry of Transport described above.</P>


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<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><B>2. OFFER</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: -11.3pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">The Offer is carried out under the coordination of <B>ITA&Uacute;
BBA ASSESSORIA FINANCEIRA S.A.</B>, registered with the CNPJ/MF under No. 04.845.753/0001-59 (&quot;<B>Lead Coordinator</B>&quot;); <B>XP
INVESTIMENTOS CORRETORA DE C&Acirc;MBIO, T&Iacute;TULOS E VALORES MOBILI&Aacute;RIOS S.A.</B>, registered with the CNPJ/MF under No. 02.332.886/0016-82
(&quot;<B>XP&quot;</B>); <B>UBS BB CORRETORA DE C&Acirc;MBIO, T&Iacute;TULOS E VALORES MOBILI&Aacute;RIOS S.A.</B>, registered with the
CNPJ/MF under No. 02.819.125/0001-73 (&quot;<B>UBS BB</B>&quot;); <B>BANCO BRADESCO BBI S.A.</B>, registered with the CNPJ/MF under No.
06.271.464/0001-19 (&quot;<B>Bradesco</B>&quot;); <B>BTG PACTUAL INVESTMENT BANKING LTDA.</B>, registered with the CNPJ/MF under No. 46.482.072/0001-13
(&quot;<B>BTG</B>&quot;); and <B>BANCO SANTANDER (BRASIL) S.A.</B>, registered with the CNPJ/MF under No. 90.400.888/0001-42 (&quot;<B>Santander</B>&quot;
and, together with the Lead Coordinator, XP, UBS BB, Bradesco and BTG, the &quot;<B>Coordinators</B>&quot;).</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">The following consortium financial institutions authorized
to operate in the Brazilian capital market will participate in the Offering as special participants: <B>(i)</B> Banco Andbank (Brasil)
S.A., registered with the CNPJ/MF under No. 48.795.256/0001-69; <B>(ii)</B> Ativa Investimentos S.A. Corretora de T&iacute;tulos, C&acirc;mbio
e Valores, registered with the CNPJ/MF under No. 33.775.974/0001-04; <B>(iii)</B> BB-Banco de Investimento S.A., registered with the CNPJ/MF
under No. 24.933.830/0001-30; <B>(iv) </B>Banco Daycoval S.A., registered with the CNPJ/MF under No. 62.232.889/0001-90; <B>(v)</B> RB
Investimentos Distribuidora de T&iacute;tulos e Valores Mobili&aacute;rios Ltda., registered with the CNPJ/MF under No. 89.960.090/0001-76;
<B>(vi)</B> Safra Wealth DTVMob Ltda, registered with the CNPJ/MF under No. 01.638.542/0001-57; <B>(vii)</B> Terra Investimentos Distribuidora
de T&iacute;tulos e Valores Mobili&aacute;rios Ltda., registered with the CNPJ/MF under No. 03.751.794/0001-13; <B>(viii)</B> Unicred
Distribuidora de T&iacute;tulos e Valores Mobili&aacute;rios Ltda., registered with the CNPJ/MF under No. 53.899.051/0001-63; and <B>(ix)</B>
Renascen&ccedil;a Distribuidora de T&iacute;tulos e Valores Mobili&aacute;rios Ltda., registered with the CNPJ/MF under No. 62.287.735/0001-03
(together, the &quot;<B>Special Participants</B>&quot;).</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><B>3. AUTOMATIC
Distribution Registration Rite</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: -11.3pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">The Offering is not subject to prior analysis by the CVM
and its registration was obtained automatically, pursuant to article 26, item IV, item &quot;a&quot;, of CVM Resolution 160, as it is
a public offering for the distribution of (i) non-convertible debentures (ii) whose issuer falls into the category of frequent issuer
of fixed income securities - EFRF (&quot;<B>EFRF</B>&quot;) pursuant to Article 38 and Article 38-A of CVM Resolution No. 80, of March
29, 2022, as in force (&quot;<B>CVM Resolution 80</B>&quot;); and (iii) exclusively for Professional Investors. Furthermore, the Offer
will not be subject to prior analysis by ANBIMA or by any regulatory or self-regulatory entity. However, after the publication of the
Closing Notice, the Offering will be registered with ANBIMA, pursuant to articles 15, 17, 18 and 19, paragraph 1 of the &quot;<I>Public
Offering Rules and Procedures</I>&quot;, in force since March 24, 2025, which is part of the &quot;<I>ANBIMA Self-Regulation Code for
the Structuring, Coordination and Distribution of Public Offerings of Securities and Public Offerings for the Acquisition of Securities</I>&quot;,
in force since July 15, 2024, both of which have been issued by ANBIMA.</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><B>4. REGISTRATION
OF THE OFFERING WITH THE CVM</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">The Offer was automatically registered with the CVM on June
9, 2025, under the number: (i) <B>CVM/SRE/AUT/DEB/PRI/2025/419</B>, for the First Series Debentures; (ii) <B>CVM/SRE/AUT/DEB/PRI/2025/420</B>,
for the Second Series Debentures; and (iii) <B>CVM/SRE/AUT/DEB/PRI/2025/421</B>, for the Third Series Debentures.</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><B>5. WAIVER
OF PROSPECTUS AND OFFER SHEET</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: none">The
Debentures will be offered exclusively to Professional Investors, and, therefore, the disclosure of the prospectus and the Offer sheet
is waived, pursuant to article </FONT>9, <FONT STYLE="text-transform: none">item </FONT>I <FONT STYLE="text-transform: none">and </FONT>paragraph
3<FONT STYLE="text-transform: none">, and article </FONT>23, paragraph 1, <FONT STYLE="text-transform: none">both of </FONT>CVM Resolution
160.</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-transform: uppercase; text-align: justify; text-indent: 0in"><B>6. OFFER
SCHEDULE</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">Below is an estimated timeline of the main stages of the
Offer:</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 8pt">
  <TR STYLE="background-color: #BFBFBF">
    <TD STYLE="width: 5%; border: Black 1pt solid; font: bold 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">N&ordm;</FONT></TD>
    <TD STYLE="width: 67%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">Event <SUP>(1)</SUP></FONT></TD>
    <TD STYLE="width: 28%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: bold 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">Data <SUP>(2)(3)</SUP></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">Filing of the Request for Automatic Registration of the Offering with the CVM</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">May 23, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">Availability of the Notice to the Market</FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">May 23, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">Beginning of presentations to potential investors <I>(roadshow)</I></FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">May 26, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">4</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">Bookbuilding Process </FONT></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">June 06, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">5</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4.25pt 2.8pt 5.1pt">
    <P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center">Granting of the Automatic Registration of the Offering by
    the CVM</P>
    <P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center">Availability of this Commencement Notice and the result of
    the Bookbuilding Procedure</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">June 09, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">6</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4.25pt 2.8pt 5.1pt">
    <P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center">Allocation Procedure</P>
    <P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center">Financial Settlement Date</P></TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">June 10, 2025</FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">7</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">Deadline for Disclosure of Closing Announcement</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 9pt/16pt Arial,sans-serif; text-align: center"><FONT STYLE="font-family: Calibri,sans-serif; font-size: 12pt">Within 180 (one hundred and eighty) days from the disclosure of this Commencement Announcement.</FONT></TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="padding: 4.25pt 2.8pt 5.1pt">
    <P STYLE="font: 10pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">(1) Any communications or announcements related to the Offering
    will be made available on the world wide web of the CVM, B3, the Issuer and the Coordinators, pursuant to Article 13 of CVM Resolution
    160.</P>
    <P STYLE="font: 10pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">(2) The dates of future events are indicative only and are
    subject to change, delays and anticipation without prior notice, at the discretion of the Issuer and the Coordinators. Any modification
    in the distribution schedule must be communicated to the CVM and may be analyzed as a modification of the Offering, following the provisions
    of articles 67 and 69 of CVM Resolution 160.</P>
    <P STYLE="font: 10pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">(3) In the event of changes in circumstances, suspension,
    extension, revocation or modification of the Offer, such schedule may be changed.</P></TD></TR>
  </TABLE>
<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">The terms beginning in capital letters and used in this
<I>&quot;Announcement of the Commencement of the Public Offering of the 11th (Eleventh) Issue of Simple Debentures, Non-Convertible into
Shares, in Three Series, of the Unsecured Type, for Public Distribution, under the Automatic Registration Rite, of Vale S.A.&quot;</I>
(&quot;<B>Announcement of Commencement</B>&quot;), which are not defined herein, shall have the meaning ascribed to them in the Deed of
Issue.</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>ADDITIONAL INFORMATION REGARDING THE ISSUANCE, OFFERING,
DISTRIBUTION AND DEBENTURES MAY BE OBTAINED FROM THE ISSUER, THE COORDINATORS, OTHER PARTICIPANTS IN THE DISTRIBUTION CONSORTIUM AND/OR
THE CVM. </B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>PURSUANT TO ARTICLES 9, ITEM I, AND 23, PARAGRAPH 1,
OF CVM RESOLUTION 160, THE DISCLOSURE OF THE PROSPECTUS AND THE OFFER SHEET FOR THE REALIZATION OF THIS OFFER WAS WAIVED.</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>CONSIDERING THAT THE OFFERING IS INTENDED EXCLUSIVELY
FOR PROFESSIONAL INVESTORS, PURSUANT TO ARTICLE 26, ITEM IV, ITEM &quot;A&quot;, OF CVM RESOLUTION 160, AND IS, THEREFORE, SUBJECT TO
THE AUTOMATIC REGISTRATION OF DISTRIBUTION RITE PROVIDED FOR IN CVM RESOLUTION 160, THE DEBENTURES WILL BE SUBJECT TO RESTRICTIONS ON
RESALE, AS INDICATED IN ARTICLE 86, ITEM I, OF CVM RESOLUTION 160. </B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>THE OFFER IS IRREVOCABLE, BUT MAY BE SUBJECT TO PREVIOUSLY
INDICATED CONDITIONS THAT CORRESPOND TO A LEGITIMATE INTEREST OF THE ISSUER, THE IMPLEMENTATION OF WHICH DOES NOT DEPEND ON THE DIRECT
OR INDIRECT ACTION OF THE ISSUER OR PERSONS RELATED TO IT, PURSUANT TO ARTICLE 58 OF CVM RESOLUTION 160.</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>CONSIDERING THAT THE OFFERING IS SUBJECT TO THE AUTOMATIC
REGISTRATION OF DISTRIBUTION PROCEDURE, THE REGISTRATION OF THE OFFERING DID NOT REQUIRE PRIOR ANALYSIS AND DOES NOT IMPLY, ON THE PART
OF THE CVM, A GUARANTEE OF THE VERACITY OF THE INFORMATION PROVIDED OR A JUDGMENT ON THE QUALITY OF THE ISSUER, AS WELL AS ON THE DEBENTURES
TO BE DISTRIBUTED. IN THIS SENSE, THE DOCUMENTS RELATED TO THE DEBENTURES AND THE OFFERING WERE NOT SUBJECT TO REVIEW BY THE CVM OR BY
ANY SELF-REGULATORY ENTITY, INCLUDING, WITHOUT LIMITATION, ALL THE DOCUMENTS OF THE OFFERING AND THIS ANNOUNCEMENT OF INITIATION.</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify"><B>CAREFULLY READ THE TERMS AND CONDITIONS OF THE DEED OF
ISSUE, THE DEBT SUMMARY, AS WELL AS THE ISSUER'S REFERENCE FORM, BEFORE MAKING YOUR INVESTMENT DECISION, ESPECIALLY THE &quot;RISK FACTORS&quot;
SECTION.</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center">The date of this Commencement Announcement is June 9, 2025.</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 8pt/16pt Source Sans Pro Light,sans-serif; margin: 0; text-align: center"><IMG SRC="vale202506096k_002.jpg" ALT=""></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 8pt/16pt Source Sans Pro Light,sans-serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center; color: #605E5C"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>Lead Coordinator</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 8pt/16pt Source Sans Pro Light,sans-serif; margin-top: 0; margin-bottom: 0; text-align: center"><IMG SRC="vale202506096k_003.jpg" ALT=""></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt/16pt Source Sans Pro Light,sans-serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/10pt Calibri,sans-serif; margin: 0; text-align: center"><B>Coordinators</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center"><B><IMG SRC="vale202506096k_004.jpg" ALT="">&nbsp;</B></P>


<P STYLE="font: 12pt/16pt Calibri,sans-serif; margin: 0; text-align: center">&nbsp;</P>



<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B></B></P>



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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: June 9, 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>
