Vale S A : and Nippon Steel sign MoU to develop steelmaking decarbonization solutions

Press Release

Vale and Nippon Steel sign MoU to develop steelmaking decarbonization solutions

Rio de Janeiro, April 26th, 2022 - Vale S.A. ("Vale") and Nippon Steel Corporation ("Nippon Steel") signed a Memorandum of Understanding ("MoU") to pursue ironmaking solutions focused on carbon

neutral steelmaking process.

Vale and Nippon Steel intend to jointly study and explore (i) metallics usage solutions such as direct reduced iron (DRI) and pig iron produced by Tecnored technology; and (ii) usage of Vale's green briquettes in ironmaking process and other lower carbon footprint products such as pellets.

This initiative contributes to Vale's commitment to reduce 15% of net Scope 3 emissions by 2035.

Additionally, Vale seeks to reduce its absolute Scope 1 and 2 emissions by 33% by 2030 and achieve net zero by 2050, in line with the Paris Agreement, leading the evolution process towards sustainable mining.

About Nippon Steel

Nippon Steel is Japan's largest and one of the world's leading integrated steel producers. Beyond its 6 steelworks in Japan, Nippon Steel makes a wide range of value-added steel products in more than 15 countries, identifying its strengths in three strategic business fields: high-grade steel products for automobiles; resources and energy; and civil engineering, construction and railways. It conducts research and development at three major centres, and six laboratories at steelworks, all in Japan.

Gustavo Duarte Pimenta

Executive Officer of Investor Relations

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For further information, please contact:

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Samir Bassil:[e-mail]

This press release may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about the future, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, 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. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de

Valores Mobiliários (CVM) and in particular the factors discussed under "Forward-Looking Statements" and "Risk Factors" in Vale's annual report

on Form 20-F.