Press Release

Vale announces cancellation of treasury shares

Rio de Janeiro, March 02nd, 2023 - Vale S.A. ("Vale" or "Company") informs that its Board of Directors approved the cancellation of 239,881,683 common shares issued by the Company, held in treasury, without reducing the value of its share capital, representing 72.6% of the total shares held in treasury. After the cancellation of shares, Vale will hold 90,477,827 common shares1 in treasury, equivalent to 2.0% of outstanding shares. As a result of the cancellation, Vale's share capital will be comprised of 4,539,007,568 common shares and 12 special class preferred shares, all without nominal value. The adjustment of the caput of Art. 5 of Vale's Bylaws will be resolved at the Company's next Extraordinary General Meeting.

Gustavo Duarte Pimenta

Executive Officer of Investor Relations

For further information, please contact:

Vale.RI@vale.com

Ivan Fadel: ivan.fadel@vale.com

Luciana Oliveti: luciana.oliveti@vale.com

Mariana Rocha: mariana.rocha@vale.com

Samir Bassil: samir.bassil@vale.com

This press release may contains "forward-looking statements" within the meaning of the federal securities laws. Words such as "will," "intend," "expect" and similar expressions identify these forward-looking statements, which include but are not limited to statements related to the UK Claims, any related damage amounts and the response of the Company to (and impact on the Company from) the UK Claims, as well as any other statements regarding future expectations, beliefs, plans, objectives, future events or performance of the Company. We caution you that these statements are not guarantees of future performance or results and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including risks related to the UK Claims and any related damages, as well as other factors identified in this cautionary note and in the risk factors of the Company's Annual Report and any updates thereto in subsequent filings of the Company with the SEC. We caution you not to place undue reliance on our forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update this information. Any defined terms used herein have the same meanings as such terms disclosed in the Company's Annual Report.

1 Position on March 02nd, 2023, which may be changed as a result of the share buyback program.

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Vale SA published this content on 02 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 March 2023 21:13:13 UTC.