Vale S A : announces remuneration to shareholders and date of payment of interest on capital

Material Fact

Vale announces remuneration to shareholders and date of payment of interest on capital

Rio de Janeiro, February 16, 2023 - Vale SA ("Vale" or the "Company") informs that its Board of Directors approved, on today's date, the distribution of dividends in the total gross amount of R$ 8,130,338,200.00, corresponding to a total gross amount of R$ 1.827646133 per share, calculated according to the balance sheet of September 30th, 2022.

The amount of dividends to be paid per share may vary slightly until the record date due to the share buyback program, which impacts the number of shares held in Treasury. If applicable, the Company will issue a new Notice to Shareholders informing the final value per share.

The record date for payment of dividends to holders of shares issued by Vale and traded on B3 will be on March 13th, 2023, and to holders of American Depositary Receipts ("ADRs") traded on the New York Stock Exchange ("NYSE") will be on March 15th, 2023. Vale's shares will start trading ex-dividend on B3 and NYSE from March 14th, 2023.

Vale also informs that it will proceed with the payment of interest on capital in the gross amount of R$ 1,319,000,000.00, corresponding to a total gross amount of R$ 0.292012688 per Vale's share, already resolved by the Executive Committee, according to the notices released on December 1st, 2022 and December 13th, 2022.

The record date for the payment of interest on capital to holders of shares issued by Vale and traded on B3 was December 12, 2022, and to holders of ADRs traded on NYSE was December 14, 2022.

Payment of dividends and interest on capital will take place on March 22nd, 2023. Holders of ADRs will receive the payment through Citibank N.A., the ADR depositary agent, as of March 29th, 2023.

Considering both proceeds, in line with Vale's Shareholder Remuneration Policy, the Company will pay shareholders in the total gross amount of R$ 9,449,338,200.00, equivalent to R$ 2.119658821 per share. For reference only, the total amount distributed is equivalent to the gross amount of approximately US$ 0.408932134 per share1. With this payment, the remuneration to shareholders for the year 2022 is concluded.

Gustavo Duarte Pimenta

Executive Officer of Investor Relations

For further information, please contact:

[e-mail]

Ivan Fadel: [e-mail]

Luciana Oliveti: [e-mail]

Mariana Rocha: [e-mail]

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;

1. 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.

1Considering the exchange rate (PTAX) of R$/US$5.1834 on February 13, 2023 and the outstanding shares on February 16, 2023.