Extract of the Minutes of the Extraordinary Board of Directors Meeting of Vale S.A.

LISTED COMPANY

CORPORATE TAX CODE (CNPJ) No. 33.592.510/0001-54

BOARD OF TRADE REGISTRATION (NIRE) No. 33.300.019.766

EXTRACT OF THE MINUTES OF THE EXTRAORDINARY

BOARD OF DIRECTORS MEETING OF VALE S.A.

On October 28th, 2021, at 9am, met, by videoconference, Messrs. José Luciano Duarte Penido - Presidente ("PCA"), Fernando Jorge Buso Gomes - Vice-Presidente, Eduardo de Oliveira Rodrigues Filho, José Maurício Pereira Coelho, Ken Yasuhara, Lucio Azevedo, Manuel Lino Silva de Sousa Oliveira, Marcelo Gasparino da Silva, Mauro Gentile Rodrigues da Cunha, Murilo Cesar Lemos dos Santos Passos, Rachel de Oliveira Maia, Roberto da Cunha Castello Branco and Roger Allan Downey. Mr. Luiz Gustavo Gouvêa was present as General Governance Secretary of Vale S.A. ("Vale"). Thus, the Board of Directors unanimously approved the following: "SHARE BUYBACK PROGRAM - Upon the favourable opinion of the Financial Committee, the Board of Directors approved, the acquisition, by Vale and/or any of its controlled companies, of up to 200,000,000 common shares issued by Vale, or depositary receipts representing such shares, corresponding to up 4% of the company capital stock, for the purpose of cancellation, subject to the following: (i) Maximum term for acquisition: 18 months, counted from the deliberation of the Board of Directors;

1. Price: the acquisition must be carried out on the Stock Exchange (B3 S.A. - Brasil, Bolsa, Balcão e New York Stock Exchange) at market prices as of the respective acquisition dates; and (iii) Intermediary financial institutions: (iii.a) BRADESCO S.A. CTVM, with registered office at Paulista Avenue 1450, 3rd floor, São Paulo, SP, CEP: 01311-920; (iii.b) CITIGROUP GM, with registered office at Paulista Avenue 1111, 14th floor, São Paulo, SP, CEP: 01311-920; (iii.c) Goldman Sachs do Brasil CTVM S.A, with registered office at Leopoldo Couto Magalhães Jr Street 700, 16º floor, São Paulo, SP, CEP: 04542-00; (iii.d) Itaú CV S.A, with registered office at Brigadeiro Faria Lima Avenue 3400, 10th floor, São Paulo, SP, CEP: 04538-132; (iii.e) J. P. Morgan CCVM S.A., with registered office at Brigadeiro Faria Lima Avenue 3729, 13th floor (Parte), São Paulo, SP, CEP: 04538-905; (iii.f) Merrill Lynch S/A CTVM, with registered office at Brigadeiro Faria Lima Avenue 3400, 18th floor, São Paulo, SP, CEP: 04538-132; (iii.g) SANTANDER CCVM S.A., with registered office at Presidente Juscelino Kubitschek Avenue 2041 and 2235, 24th floor, São Paulo, SP, CEP: 04543-011; (iii.h) UBS Brasil CCTVM, with registered office at Brigadeiro Faria Lima Avenue 4440, 7th floor, São Paulo, SP, CEP: 04538-132; (iii.i) XP Investimentos CCTVM, with registered office at Chedid Jafet Avenue 75, Torre Sul, São Paulo, SP, CEP: 04551-060; being right that for the acquisition of American Depositary Receipts on the New York Stock Exchange will be used the brokers from the institutions abovementioned; (iv) authorize the execution of derivative contracts

LISTED COMPANY

CORPORATE TAX CODE (CNPJ) No. 33.592.510/0001-54

BOARD OF TRADE REGISTRATION (NIRE) No. 33.300.019.766

referenced to shares issued by Vale under the buyback program, as well as the terms of Attachment 30-XXXVI of CVM Instruction 480/2009, which constitutes Exhibit I to these minutes (...)."; and "APPOINTMENT OF MEMBER OF THE AUDIT COMMITTEE (EXTRA AGENDA) - With the favourable opinion of the People, Compensation and Governance Committee, the Board unanimously approved the appointment of Mr. Murilo Cesar Lemos dos Santos Passos as a member of the Audit Committee, which is now composed of five members, namely: Manuel Lino Silva de Sousa Oliveira (Coordinator), Mauro Gentile Rodrigues Cunha, Murilo Cesar Lemos dos Santos Passos, Luciana Pires Dias (external specialist) and Sergio Ricardo Romani (external specialist)".I hereby attest that the items above reflects the decisions taken by the Board of Directors.

Rio de Janeiro, October 28th, 2021.

LUIZ GUSTAVO	Assinado digitalmente por LUIZ GUSTAVO
DN: cn=LUIZ GUSTAVO GARIOLI
	GARIOLI GOUVEA:00486298710
GARIOLI	GOUVEA:00486298710, c=BR, o=ICP-

Brasil, ou=Certificado PF A3,

GOUVEA:00486298710 email=[e-mail]

Data: 2021.10.28 18:32:40 -03'00'

Luiz Gustavo Gouvêa

Secretary

LISTED COMPANY

CORPORATE TAX CODE (CNPJ) No. 33.592.510/0001-54

BOARD OF TRADE REGISTRATION (NIRE) No. 33.300.019.766

Annex 30-XXXVI of Instrução CVM no 480/209, as amended

	The buyback program at current market prices is an
	opportunity to purchase the shares and an important signal
	to the market on the attractiveness of Vale's shares,
1. Explain in detail the objective and	conveying the confidence the management has in the de-
risking of the company.
economic effects expected from the
transaction;	The expected economic effect is the resulting increase in
	the participation of remaining shareholders and
	amendment of the Bylaw to adjust the number of issued
	shares.
2. Inform the number of (i) floating shares	On September 30th, the Company owned:
(i)	5.132.458.410 common shares
and (ii) shares currently in treasury;
(ii)	245.327.821 shares in treasury
3. Inform the number of shares that may	Up to 200 million common shares may be repurchased.
be repurchased or alienated;
4. Describe the main characteristics of the	The Company may enter into a financial settlement
derivative contract. There will be no provision in the
derivatives instruments that the company
contract on the exercise of voting rights of shares issued
may use, if applicable;
by the Company held by the counterparty.
5. Describe, if applicable, agreements or
voting orientation that exists between the	Not applicable
company and counterparties on the
transaction;
6. If the trades are concluded outside of	Not applicable
organized markets, inform:
a. maximum/minimum price by which	Not applicable
shares will be acquired / sold;
b. if the case, the reasons for trades 10%
above / below the ten business-days	Not applicable
average price, weighted by volume
7. Inform, if applicable, the impacts that the	There is no expected relevant impact on the control of the
program will have on the control of the	company nor its administrative control.
company or its administrative control;
8. Identify the counterparties, if known,
and, if related party to the company, as
defined by the accounting rules that	Not applicable
regulate this matter, provide the
information required by art.8 of CVM
instruction 481, 12/17/2009;

LISTED COMPANY

CORPORATE TAX CODE (CNPJ) No. 33.592.510/0001-54

BOARD OF TRADE REGISTRATION (NIRE) No. 33.300.019.766

9. Indicate the destination of the obtained	Not applicable
proceeds, if applicable;
10. Inform the maximum term for settling	The maximum period for settling will be 18 months,
the authorized transactions;	counting from the approval by the Board of Directors.
	a) BRADESCO S.A. CTVM Av. Paulista 1450, 7° andar,
	São Paulo, CEP: 01310-100,
	b) CITIGROUP GM, Av. Paulista 1111, 14º andar (Parte),
	São Paulo, CEP: 01311-920; c) Goldman Sachs do Brasil
	CTVM S.A, rua Leopoldo Couto Magalhães Jr 700, 16
	andar, São Paulo, CEP: 04542-000
	d) ITAU CV S.A, Av. Brigadeiro Faria Lima 3400, 10°
	andar, CEP: 04538-132;
	e) J. P. MORGAN CCVM S.A., Av. Brigadeiro Faria Lima
11. Nominate the institutions that will be	3.729, 13º andar (Parte), São Paulo, CEP: 04538-905;
f) Merrill Lynch S/A CTVM, Av. Brigadeiro Faria Lima, 3400
intermediaries, if applicable;
- 18º Andar, CEP 04538-132;
	g) SANTANDER CCVM S.A, Av. Presidente Juscelino
	Kubitschek 2041 e 2235, 24º andar, São Paulo, CEP:
	04543-011; h) UBS Brasil CCTVM, Av. Brigadeiro Faria
	Lima, 4440 - 7º andar, São Paulo, CEP: 04538-132 e,
	i) XP Investimentos CCTVM, Av. Chedid Jafet, 75 - Torre
	Sul, São Paulo, CEP: 04551-060.
	For the purchase of ADRs in the NYSE, the brokers from
	the above-mentioned institutions will be used
12. Inform the available resources to be	The resources available in profit reserves or capital
reserves of the financial statement related to the quarter
used, as per art. 7º, § 1º, of Instrução CVM
ended on September 30th, 2021, will be used, as per art.
nº 567, de 09/17/2015.	7º, § 1º, of ICVM nº 567, de 09/17/2015.
13. Inform the reasons why the Board of	The Board of Directors members are comfortable due to
expected cash flow generation for the last quarter of 2021
Directors is comfortable that the
and the year 2022, being the repurchase program amount
repurchase of shares will not be harmful to
compatible with the financial situation of the company and
the fulfillment of the obligations to the
not harmful to the capacity to fulfil the obligations to the
creditors, nor to the payment of mandatory
creditors nor the payment of mandatory dividends, fixed or
dividends, minimum or fixed
minimum.