Vale Integrated Report 2021 EN

Integrated
Report
2021
Presentation Vale Governance and Compliance Manufactured Capital Financial Capital Intellectual Capital Natural Capital Human Capital Social Capital Critical Analysis Assurance GRI Index Credits
Summary
PHOTO: RICARDO TELES
03 Letter from the Chairman 54 Manufactured Capital 96 Social and Relationship Capital
05 Letter from the CEO 56 Production and Sales Highlights in 2021 98 Social Ambition
07 Reporting Process 56 Divestments in Non-core Assets 99 Human Rights
08 Materiality 100 Indigenous Peoples and Traditional Communities
57 Financial Capital 102 Local Communities
19 Vale 59 Economic-financial Performance 107 Private Social Investment
20 Profile 110 Suppliers and customers
21 Business Model 61 Intellectual Capital 112 Stakeholder Engagement
22 Purpose and Values 63 Innovation 117 Participation in Entities and Associations
23 Strategic Pillars 66 Vale Institute of Technology (ITV)
27 Focus on Reparation 118 Independent Readers' Letter

36 Dams 67 Natural Capital
122
Independent auditor's limited
70 Climate Change
assurance report
43 Governance and Compliance 77 Biodiversity
44 Governance Structure 80 Ecoefficiency
124 GRI Content Index
48 Risk Management 82 Mine Closure and Future Use
50 Compliance
150 Credits
84 Human Capital
86 Occupational Health and Safety
89 Covid-19
90 People
93 Diversity, Equity and Inclusion
Presentation 1. Letter from the Chairman 2. Letter from the CEO 3. Reporting Process 4. Materiality 2
Letter from the Chairman

PHOTO: PERSONAL ARCHIVE
GRI 102-14
Corporate governance is one of the foundations The change was structural and encompassed
for leveraging the changes that Vale needs, changes to Vale's Bylaws, which included
especially after the Brumadinho tragedy, and for an independent majority on the Board
addressing challenges related to important issues of Directors, the adoption of the Lead
that have the greatest impact for the company Independent Director role, and the election
and society, such as dam management, climate of the Chairman and Vice Chairman of the
change, human rights, diversity and many others. Board directly by shareholders. During the
2021 General Meeting, 13 members were
In November 2020, the company took an important elected by multiple votes, including eight
step towards an organizational structure that is independent members, compared to three in
aligned with these demands and challenges, by 2020. Of the total, eight were appointed by
terminating the Vale Shareholders' Agreement and the Vale Nomination Committee and four by
moving to the "corporation" model, with dispersed shareholders. The employee representative
capital, without defined control. director is elected in a specific vote.
Vale's structural change in corporate governance

elected a Board of Directors with eight José Luciano Duarte
independent members Penido, Chairman of

the Board of Directors
of Vale
As a reflection of this change, we now have Another topic of attention has been Vale's We also focused on continuing our strategy of in the operation of our assets, as well as to
a Board of Directors that is committed to climate strategy, which includes commitments divesting non-core assets, highlighting the binding the challenges related to the macroeconomic
consolidating solid governance following the aligned with the Paris Agreement, such as agreement signed for the sale of the Moatize and geopolitical environment, in particular the
best international practices for a Corporation. being carbon neutral by 2050 in Scopes 1 coal mine and the Nacala Logistics Corridor. We escalating conflict between Russia and Ukraine.
The Board has given full attention to the cultural and 2, considering projects and technologies are close to completing the full reshaping of our
evolution of the company, prioritizing Vale's focused on the reduction of greenhouse gas business portfolio, focusing on opportunities in Finally, despite the challenges, 2021 was a year
strategic reorientation and our commitment to emissions and decarbonization. We increased Iron Ore, Copper and Nickel. of important advances, especially in terms of
the ESG agenda. A new Innovation Committee our competitiveness in the iron ore business by strengthening the governance structure necessary
has given more visibility to innovation and the developing the high-quality product portfolio with Speaking of the future, in 2022 Vale's Board of to ensure a better Vale, where I would like to
application of new technologies in processes, innovative and disruptive products such as the Directors will be elected at a General Shareholders' highlight the creation of the Executive Vice-
products and our climate agenda. This formation "green briquette". We set a Scope 3 climate target Meeting. Continuing the evolution observed presidency of Sustainability. For the coming years,
has led to rich and plural discussions, guided by a and are actively engaging in partnerships with in 2021, we have set a Nomination Committee, we will continue to be attentive to the demands
necessary critical view of Vale, in order to mitigate customers to decarbonize the global steel industry. composed mainly of independent directors, to of our stakeholders and committed to make the
risks and maximize the company's delivery of value structure the process for nominating candidates. necessary transformations for Vale to represent
to its stakeholders. Also, in the year, as a result of the structural and The continuity and complementation of the to everyone, and especially to society, a safe and
cultural changes that Vale has been going through, mandate of the collegiate elected at the 2021 reliable company, operating under the concept of
We also monitor on a regular basis Vale's Global the company designed its new Social Ambition AGM was recommended as fundamental for the sustainable mining.
Integrated Risk Map, and we follow closely the - focused on the creation of a positive legacy consolidation of Vale's new governance.
progress of the Dams Decharacterization Plan. for society. This is a vision that aims to prevent José Luciano Duarte Penido
There has been an advance of about 23% in the repetition of the damage, such as that caused We know that we have many challenges to Chairman of the Board of Directors of Vale
decharacterization of structures and, by 2022, the by Vale at Brumadinho, to encourage resilient address, and we are attentive to the issues of
forecast is to decharacterize five more upstream communities, and to work in the direction of greatest impact for Vale and its stakeholders, to
structures, reaching 40% of the plan. The plan also sustainable mining. seek safe productivity and to promote confidence
foresees the decharacterization of all upstream
structures in Brazil by 2035.
We are attentive to the pursuit of safe

productivity and to promote
confidence in the operation of assets
Letter from the CEO GRI 102-14 We are living a moment of deep transformation
of the world, of mining and of Vale. On this
Thus, in 2021, we settled an agreement with the
Justice Institutions and the State of Minas Gerais,
journey, we seek to walk together with society, aiming at the continuity of the reparation initiatives
PHOTO: ARTHUR TOLEDO
with responsibility, transparency and coherence. that have been carried out since the occurrence of
Eduardo Bartolomeo We arrive at places uninvited, so, in addition to the tragedy, in 2019, with an estimated amount of
Vale CEO mitigating the negative impacts, we want, as our BRL 37.7 billion. In addition to this, more than 11.4
social ambition states "To be a partner company in thousand people have already been indemnified,
the development of resilient communities, engaged with individual and labor agreements signed.
in relevant issues to humanity and committed to
sustainable mining". Regarding dam safety, a critical point in our
operations, we had important advances during
January 25 marked three years since the collapse of the year. We updated our plan to decharacterize
dam B1, the saddest day in our history. The tragedy, and eliminate upstream structures, which now
which will never be forgotten, caused the death includes 30 geotechnical structures, 100% of the
of 270 people and several socio-environmental portfolio of dams and Tailings Storage Facilities
impacts, and made evident the need for us to (EARs in Portuguese), of which seven have already
learn together from everything that happened, to been decharacterized since 2019. With this our
transform ourselves and assume the commitment commitment was also updated: decharacterize 60%
that tragedies like this do not happen again and of upstream dams in Brazil by 2025, 90% by 2029
that no life are lost in our company. and 100% by 2035. We completed the construction
of downstream containment structures for all dams
at emergency level 3.
Regarding the critical point of dam safety,

we concluded the decharacterization of the
seventh upstream dam since 2019
We advanced in the implementation of solutions In addition to investing in sustainable products, such With three priority pillars - sustainable mining, of black people by 2026, and we have strengthened
and technologies for monitoring, using radar, as the "green briquette", we continued our strategy of resilient communities, and global causes - we our anti-racist positioning. Also as part of the
satellite images and drones to follow conservation divesting non-core assets in 2021. As for productivity, define our social ambition with commitments cultural transformation process experienced by
status and soil displacement, among other control we recorded a 5% increase in Iron Ore production, related to creating social value, promoting the company, our Whistleblowing Channel was
technologies. We seek to advance in the use still below expectations for the period, due to the education, health and income generation, and restructured, with a 33.8% increase in the number
of tailings to produce new materials, fostering lower-than-expected performance at S11D (our protecting human rights. More than projects, of reports received. All confirmed violations
the circular economy, and in natural humidity largest mining complex, located in the municipality we want to articulate alliances and promote triggered correction plans.
processing as a substitute for wet processing. of Canaã dos Carajás, Brazil) and we had impacts on structuring programs capable of contributing
base metals production due to the employee strike in to social justice and to the autonomy of In socioeconomic expenditures in the territories, we
Among the themes of greatest impact and influence Sudbury, Canada, for about two months. At the time, communities. spent USD 473.5 million on social actions. Through
at Vale are contributions to the fight against climate Vale continued negotiations for ratification of a new the Vale Foundation, our initiatives impacted more
change. Our goal is to zero our net emissions by 2050 agreement, signed in August 2021. Regarding these aspects, from the management than 860 thousand people in 50 municipalities in
(Scopes 1 and 2), and to reduce Scope 3 emissions by point of view, we reached 100% of Vale's six Brazilian states. In addition, since 2020, we have
15% by 2035. The efforts of our low carbon agenda We recorded pro-forma adjusted from continuing operations with risk assessment for human donated over USD 153 million to governments and
contributed to our recognition as one of the leading operations EBITDA of USD 31.3 billion, USD 13.8 rights violations. We also undertook external due institutions in Brazil and abroad for Covid-19 related
companies in the Climate Change Program at the billion higher than the previous year, due to higher diligence in all operations and critical projects in humanitarian aid actions.
CDP Latin America Awards 2021. In the same year, iron ore and pellet sales volumes and and the prices three-year cycles. Also, to ensure Human Rights,
we published our first report on climate change, in charged, which also contributed to a USD 15.0 billion with the understanding that mining can only In 2022, we will complete 80 years of operation.
line with the Task Force on Climate-related Financial increase in net operating revenues from continuing be carried out with Free, Prior and Informed Over these decades, we have learned that our role
Disclosures (TCFD). operations, which totaled USD 54.5 billion in 2021. Consent, and with legislation that allows and goes beyond mining and, for this reason, in all of
Payments for taxes and royalties totaled USD 7.7 adequately regulates the activity, we have Vale's decisions, people are at the center. We seek,
billion and our investments totaled USD 5.2 billion in renounced all our mining processes on indigenous as our purpose says, to improve lives and transform
the year, of which USD 4.2 billion were dedicated to lands in Brazil, which includes requirements for the future. Together.
the maintenance of operations. research and mining.
Eduardo Bartolomeo
Strengthening a culture oriented to diversity, Vale CEO
equity and inclusion is a priority. We anticipate
We have defined our social ambition with three to 2025 our commitment to double the
representativeness of women in our workforce
priority pillars - sustainable mining, resilient (from 13% to 26%), we have established the goal
of reaching 40% of leadership in Brazil made up
communities, and global causes
Reporting Process Conversion adopted for the dollar

Subsequent event
amounts published in this report:
In this second year of the Integrated Report, (UN) Sustainable Development Goals (SDGs).
throughout the report, the amounts in On April 28, 2022, the U.S. Securities and
referring to the period between January 1 and PwC performed limited assurance on the report
Brazilian reais were converted to USD at Exchange Commission (“SEC”) filed suit
December 31, 2021, we share our learnings, according to the Assurance Report on page 122.
the rate of BRL 5.39, with the exception against Vale in the U.S. District Court
challenges and advances the result of reflecting The Integrated Report 2021 has been checked
of the financial disclosure figures, already for the Eastern District of New York,
on and listening to our different stakeholders. and approved by the Executive Committee, the
This document provides indicators, management Sustainability Committee, and the Board of published in other Vale documents. alleging that certain Vale disclosures
approaches, and accountability on relevant Directors.GRI 102-32, 102-54, 102-56 violated U.S. securities laws. The lawsuit

Ponta da Madeira
environmental, social and governance topics, focuses on disclosures related to Vale’s
Maritime Terminal,
according to our materiality matrix (see We want to hear from you. Contact us to send in the North Port. dam safety management prior to the
questions, criticism and comments about this
Materiality). The information comprises the Ore yard tragic dam failure in Brumadinho, Minas
publication through the Contact Us channel.
companies over which Vale has operational control GRI 102-53 Gerais, Brazil in January 2019. Vale denies
and their activities identified on Form 20-F. More information about Vale's results is available at: the SEC’s allegations, including the
GRI 102-45, 102-46, 102-49, 102-50 • 20-F, Report from Administration, Tax allegation that its disclosures violated
Transparency Report and Reference Form U.S. law, and will vigorously defend
The document preparation is aligned with this case. The Company reiterates the
the guidelines of the International Integrated • Report of Governance
commitment it made right after the
Reporting Framework (Value Reporting
rupture of the dam, and which has
Foundation). This report has been prepared • ESG Portal
guided it since then, to the remediation
in accordance with the GRI Standards:
and compensation of the damages
Comprehensive option, and includes the Mining • Reparation Report
and Metals Sector Supplement. We report our caused by the event.
efforts to adhere to the Mining Principles of • Other editions of Vale's sustainability reports
Note 1: This document may include statements that present Vale's current expectations regarding future events or results. All
the International Council on Mining and Metals GRI 102-51, 102-52 forward-looking statements involve various risks and uncertainties. Vale cannot guarantee that such statements will prove
(ICMM), of which we are an active member. This to be accurate. These risks and uncertainties include, among others, factors related to: (a) countries where Vale operates,
especially Brazil and Canada; (b) the global economy; (c) capital markets; (d) mining and metals prices and their dependence
report and its appendices also include indicators on global industrial production, which is cyclical in nature; (e) the high degree of global competition in the markets where Vale
from the Sustainability Accounting Standards operates; (f) mining and tailings storage operations; and (g) the estimation of mineral resources and reserves, their exploration
Board (SASB), the Task Force on Climate-related and the development of mining facilities, our ability to obtain or renew new licenses, and the depletion and exhaustion of
mines and mineral reserves and resources. For additional information on factors that may give rise to results different from
Financial Disclosures (TCFD), the World Economic those estimated by Vale, please consult the reports filed by Vale with the U.S. Securities and Exchange Commission (SEC), the
Forum (WEF) key metrics, and the United Nations Brazilian Securities and Exchange Commission (CVM) and, in particular, the factors discussed in the sections "Forward-looking
Statements" and "Risk Factors" in Vale's Annual Report Form 20-F."
Through consultation, we captured

ESG Databook Materiality Phase 3 a total of 1,192 contributions, 910
Strategy and impact vision: evaluation of from the internal public and 282 from
See the ESG Databook, an appendix Our materiality matrix was updated in 2021 documents relating to Vale's strategy and the external public, considering the
of this report, including GRI according to the GRI Reporting Framework and benchmarking studies of companies in the mining following stakeholder groups: GRI 102-
Standards content; the Sustainability International <IR> Framework guidelines. The and metals sector; 21, 102-42
Accounting Standards Board (SASB) process involved the identification of priority • Employees and contractors
Metals and Mining segment; the Task topics that significantly impact the organization's Phase 4
value creation in the short, medium and long Broad quantitative and qualitative consultation: a • Class associations or entities
Force on Climate-related Financial
term, and prioritization of relevant themes by the quantitative questionnaire was sent to stakeholders • Local community
Disclosures (TCFD); the World company's main stakeholders. The review process and interviews were conducted with representatives
Economic Forum (WEF) key metrics; • Civil society
can be summarized in four major phases: from academia, subject matter experts, local
and the Sustainable Development communities, institutions, and investors. • Academy or experts
Goals (SDGs), as well as adherence Phase 1 • Suppliers
to the Mining Principles of the Document analysis and review of material and For each topic, GRI content, indicators from the
• Non-governmental organizations
International Council on Mining emerging topics identified in the 2020 cycle: Metals and Mining segment of the Sustainability
sustainability ratings, the World Economic Forum Accounting Standard Board (SASB), and Sustainable • Government/regulatory bodies
and Metals (ICMM). The basis of
global risk report, sector trends studies, the Global Development Goals (SDGs) were associated. The • Private companies not linked to Vale
preparation cited in the Assurance
Compact progress report, and critical analysis of 2021 materiality review process was validated by
Report is in the Databook as well. Vale's 2020 reporting by the World Business Council the Sustainability Committee. GRI 102-21, 102-29, 102-46 • Investors
for Sustainable Development (WBCSD); • Customers
• Traditional communities or
Phase 2
Evaluation of continuous engagement channels:
To prioritize most indigenous peoples
a survey of the main stakeholder demands,
identified by structured engagement channels that
relevant topics, • The press
• Mining companies
already exist in the company, and consolidation of 1,192 people were • Capital markets
the inputs obtained;
consulted
Presentation 1. Letter from the Chairmann 2. Letter from the CEO 3. Reporting Process 4. Materiality 8
Material Topic: Dams GRI 102-47
Correlated Improvement
Scope Indicators Risks Opportunities Goals Advances Points
• Mineral waste • GRI 102-15 | 103-1, • Dam rupture • Technologies for • Risk management: 100% of dams and tailings storage • 100% of the Tailings • Decrease the number
103-2, 103-3 | G4 less dependence on facilities portfolio Hazard Identification and Risk Analysis Storage Facilities (EAR) of structures with
• Dam risk • Socio-
MM3 dams (HIRA) by the end of 2022; 100% connected to Vale's with extreme consequence emergency levels 1, 2
management environmental
Integrated Business Risk Management (ERM) ratings from the Church of and 3
•SASB EM-MM- impacts • Byproducts from
• Decharacterization England's Tailings Storage
150a.1, SASB EM- tailings • 100% of tailings facilities operated with potential • Overcome the
or elimination of • Evacuation of Facilities Disclosure list have
MM-150a.2 and SASB consequences "extreme" or "very high" in compliance technical challenges
dams territories been assessed by HIRA risk
EM-MM-150a.3 with the GISTM (Global Industry Standard on Tailings to decharacterize/
management program
• Emergency Management) by 2023 eliminate upstream
• ODS 3 6 9
response • Dam Decharacterization dams in the shortest
12 • 100% of tailings facilities in compliance with the GISTM by
Plan: 23% of the program possible time
2025
completed in 2021,
• Dam decharacterization plan: 60% of upstream dams in and the schedule for
Brazil decharacterized by 2025, 90% by 2029, and 100% by decharacterizing all of
2035 its upstream structures
in Brazil has been
renegotiated with the
public agencies
What do stakeholders • All dams at emergency
want to know? level 3 with downstream
containment structures
Stakeholders are interested in the reparation measures in built
Brumadinho and evacuated areas and Mariana (see more
in Focus on Reparation) and how Vale has been working to
prevent the recurrence of this type of event.
Directly and/or indirectly impacts all Vale's operations and society. GRI 103-1
Material topic: Governance and Compliance GRI 102-47
• Governance structure • GRI 102-15 | 103-1, 103-2, • Market risks • Cultural transformation • Eliminate main ESG gaps • Of 63 gaps mapped as • Increase gender and racial
103-3 | 205 | 206 | 307 | in relation best practices of 2019, 54 have already diversity on the Board of
• Risk management • Operational risks • Innovation and new
406 | 419 been completed, with 17 Directors
technologies
• Fight against corruption • Legal and tax risks in 2021
• SASB EM-MM-510a.1.
• Socio-environmental and • Mergers, acquisitions and • Held Board of Director
• ODS 16
economic compliance divestments elections in 2021: of the
13 full members elected,
• Cybersecurity • Abusive and
8 are independent
discriminatory practices
• Created the position
• Strategic, financial and
of Executive Officer of
cyber risks
Sustainability
• Changing laws and
• Revised corporate
regulations
policies
• Created the position
of Executive Officer of
Strategy and Business
What do stakeholders Transformation
want to know?
Stakeholders are interested in the Board composition
process, the measures we are taking for independent
and transparent decision making and the alignment
between our speech and practice.
Impacts, directly and/or indirectly, all of Vale's operations and stakeholders. GRI 103-1
Material topic: Climate Change GRI 102-47
Scope Indicators Risks Opportunities Goals Advances 1
Points
• Energy consumption and •GRI 102-15 | 103-1, 103-2, • Transition risks: changes • Develop of • Reduce Scope 1 and 2 • Reduced Scope 1 and • Assess the alignment of
efficiency 103-3 | 201 | 302 | 305 in the demand pattern, decarbonization emissions by 33% by 2030 2 emissions by 24% 2030 Scope 1 and 2 targets
changes in public policies to solutions compared to 2017 with the 1.5ºC scenario
• Greenhouse gas • SASB EMMM-110a.1, • Use 100% renewable
restrict emissions (including
emissions SASB EM-MM-110a.2 • Use proprietary energy in Brazil by (2025) • 98% renewable energy • Analyze offsetting exclusion
carbon taxing), and
and SASB EM-MM-130a.1. technology to offer and globally (2030) in Brazil, in relation in 2035 Scope 3 target
• Risks and opportunities reputational risk, among
more premium to the estimated and alignment with WB2C
related to climate change • ODS 7 13 others • Achieve net-zero Scope 1
products consumption for the scenario
and 2 emissions by 2050
• Physical risks: increase year 2025, and 88%
• Evaluate inclusion of Scope
in average temperature, • Reduce Scope 3 net globally, in relation
3 in the Net Zero strategy
extreme weather and sea emissions by 15% by 2035 to the estimated
conditions consumption for the • Define intermediate targets,
• Improve 5% of the global
year 2030 for before 2030
energy efficiency indicator
from the 2017 baseline by • Reduced Scope 3 • Accelerate the deployment
What do stakeholders 2030 emissions by 15%
compared to 2018
of emission reduction
initiatives
want to know? • Clarity the post-2030
Stakeholders are interested in mitigation measures (reduction of emissions, product Roadmap
life cycle, i.e, carbon footprint, and business models) and adaptation (reduction of
physical impacts on territories and climate resilience). They also expect alignment of
targets with those of the Paris Agreement and transparency on the annual evolution
and trajectory of emissions, and that the company demonstrates the ability to deliver
1
Most of the reductions in the emissions of Scopes 1, 2 and 3 are related
to lower levels of production, in 2021, when compared to the base year.
on its commitments. In addition, they want information about the financial impacts An increase in production is expected in the short term, which may lead to
related to these changes. an increase in emissions, although in the medium term (starting in 2026) a
decrease is expected due to the implementation of low carbon initiatives.
Impacts, directly and/or indirectly, all of Vale's operations and the whole society. GRI 103-1
Material topic: Biodiversity GRI 102-47
• Biodiversity • GRI 102-15 | 103-1, • Impacts in areas • Intensifying our • Forestry target: • 62,248 hectares of protected forests and 5,125 • Globally apply
conservation and 103-2, 103-3 | 304 | G4 highly relevant to contribution to the recover and protect hectares of recovered areas biodiversity standards
restoration MM1 | MM2 biodiversity Amazon biome an additional and plans (global vision)
• The Vale Fund supported the development of five
500,000 hectares of
• Impacts of the • SASB EM-MM-160a.1, • Investment in agroforestry impact businesses that productively • Further integrate
areas beyond the
operations on fauna SASB EM-MM-160a.2 Biodiversity research recovered an area of 5,125 hectares in 2021 biodiversity
company's borders
and flora and SASB EM-MM- and conservation management into the
by 2030, of which at • Development, by the Vale Institute of Technology
160a.3. value chain
• The Amazon • Develop of impact least 100,000 ha will Sustainable Development, of genetic studies
• ODS 6 12 14 15 businesses for biome be through socio- for knowledge of the Amazon DNA in order to
restoration environmental contribute to biodiversity conservation
impact businesses
• Develop new • The Vale Fund supported the development of the
technologies • Pursue neutral net PrevisIA tool, which anticipates information on
that support the impact in projects regions with higher risk of fire
prevention of fires and expansions
• Establishment of biodiversity management
and other risks
guidelines into our management model and applied
them to new projects
What do stakeholders
want to know?
Stakeholders are interested in the impacts of mining,
especially in the Amazon, and in conservation and
restoration actions.
Directly and/or indirectly impacts all Vale operations, communities and territories near our operations,
including habitats and species important for conservation. GRI 103-1
Material topic: Ecoefficiency GRI 102-47
• Consumption and • GRI 102-15 | 103-1, 103-2, • Water crisis and lack of • Expansion of the water • Water target: reduce • 11.7% reduction in the •C
onsolidate the
efficiency in water 103-3 | 303 | 305 available water resources monitoring network the specific use of specific use of fresh implementation of
management and search for new new and fresh water water withdrawal in the Integrated Data
• SASB EM-MM-120a.1, SASB • Compliance with ICMM
technologies withdrawn and used in 2021 Management System
• Disposal and quality of EM-MM-140a.1 and SASB quality standards for
our processes by 10% per
effluents EM-MM-140a.2 effluent discharge • Efficient use of water • 23% reduction in sulfur •M
anage controversies
ton produced by 2030,
resources through dry oxide emissions related to particulate
• Atmospheric emissions • ODS 3 6 12 14 15 • Atmospheric emissions compared to 2017
processing emissions
(except GHG) and air from operations
• Particulate matter
quality • Global strategy for •G
lobally management
emissions, NOx and
reducing atmospheric considering local
SOx: Reduce particulate
emissions specificities
matter emissions by
16%; Reduce sulfur
oxides emissions by 16%;
and Reduce nitrogen
oxide emissions by 10%
want to know?
Stakeholders are interested in measures that
minimize impacts, such as water availability and
air pollution.
Impacts all Vale operations and, directly and/or indirectly, communities near our operations. GRI 103-1
Material topic: Mine closure and future use GRI 102-47
• Planning and • GRI 102-15 | 103-1, 103-2, • Non-achievement • Minimize risks in the • Disclose information • Standards and KPIs in the • Structure governance reflecting
progressive closure of 103-3 | G4 MM10 of compliance and territories and generate about Mine closure plan, planning and executing the Mine closure strategy and
assets legislation targets aptitude for future uses including the community progressive asset closure future use globally, incorporating
• ODS 1 2 6 8 engagement process society's expectations
• Management of social • Non-recovery of • Generate value for the • Projects for future use
and environmental 11 biodiversity territories, through in two complexes: Águas • Implement future use and new
impacts associated economic diversification Claras Mine (MAC) and parts business in territories undergoing
• Invasion and misuse of
with Mine closure and implementation of of the Itabira Complex Mine closure
land
new businesses territory
• Promoting a legacy
• Low economic
in the territories and • Social participation
diversification,
future land use mechanism for the Mine
maintaining local
closure stage
dependence on mining
activities
want to know?
Stakeholders are interested in our biodiversity recovery, local
economic impacts, land development, and the risk of land invasion
and misuse.
Impacts, directly and/or indirectly, Vale's operations and value chain, as well as the communities
near our operations. GRI 103-1
Material topic: Health and safety GRI 102-47
• Occupational health and • GRI 102-15 | 103-1, • Risks related to workplace • Structuring of critical • Reduce to zero the • Lowest recordable • Improve the incident
safety 103-2, 103-3 | 403 accidents and fatalities control checks number of recordable accident frequency rate investigation process and
high-potential injuries (TRIFR) in Vale's history organizational learning
• Process Safety Risk • SASB EM-MM-320a.1 • Risks related to employee • Accelerate the use of
(precursors to fatalities) (1.41)
Management health technology to remove • Improve the quality of
• ODS 3 8 by 2025
people from risk • Reduced by 35% the safety inspections (proactive
• Promotion of workers' • Risks of process accidents
• Reduce by 50% the number of exposures indicator)
health beyond (Process Safety)
number of exposures to to agents harmful to
occupational issues • Advancing the operational
agents harmful to health health in the workplace
(chronic diseases, healthy change management
in the workplace by 2025 compared to the
habits, etc.) process
baseline (2019)
want to know?
Stakeholders are interested in measures to
ensure the employees and contractors safety, and
operations safety in general.
Directly and/or indirectly impacts all Vale employees, contractors and suppliers. GRI 103-1
Material topic: People GRI 102-47
• Employee attraction, • GRI 102-8, 102-15 | 103- • Local labour laws • Implement and • Double the • 18.7% women in the workforce • Apply an employee
retention, training, 1, 103-2, 103-3 | 401 | accelerate the representativeness engagement survey
• Hiring of outsourced • 20.9% women in leadership positions
and careers 404 | 405 | 407 Technical Training of women in our
labour • Set broader diversity,
Program for our workforce, from 13% • Achievement of 5.29% of professionals
• Working conditions • ODS 5 8 equity and inclusion goals
• Leadership succession employees to 26%, by 2025 with disabilities in Brazil (reaching the
for contractors and (including issues beyond
plan legal quota)
third parties • Training/activation • Guarantee that 40% race and gender)
of operational of leadership is made • Hiring of 95 professionals who declared
• Diversity, equity and
leaders in Cultural up of black people* themselves black or brown race in the
inclusion
Transformation by 2026, compared to Trainee Program, which represents 66%
the 29% registered of the total number hired
through a self-
• Conducting the first diversity census
declaratory census
in Brazil and Canada with 68.5%
participation in Brazil and 58% in
Canada
• Adherence to the Mover: Movement for
Racial Equity
• Expected culture and behaviors
What do stakeholders positioned as fundamental to achieving
strategic objectives
want to know? * Includes black and
brown people according • Critical processes (security, risk
The stakeholders are interested in the Vale's to Brazilian Institute of management, community relations,
Geography and Statistics
cultural transformation, promoting the (IBGE in Portuguese) among others) disseminated in the
development of employees and diversity. categories. organization
Directly and/or indirectly impacts all of Vale's own employees, contractors and suppliers. GRI 103-1
Material topic: Human Rights GRI 102-47
• Respect and promote • GRI 102-15 | 103-1, 103-2, • Risks of human • Advance the inclusion • Perform human rights • Launched the Social • Advance human rights
human rights in 103-3 | 201 | 406 | 408 | 409 | rights violations in its of the human rights due diligence on all Ambition in 2021 management in the value
developing its activities, 410 | 412 operations, along the perspective in all company operations in 3-year chain, including increasing
• 100% of our operations
partnerships, and in value chain processes and decision- cycles the number of human rights
• SASB EM-MM-210a.1, SASB with risk analysis
production chain, during making due diligence processes
EM-MM-210a.2 • Help Indigenous related to human rights
the entire life cycle of its
and SASB EM-MM-210a.3 • Help to the promote the peoples and Traditional
ventures • Performed human
human rights agenda Communities to
• ODS 3 8 16 rights due diligence
in mining companies promote their rights,
on 14 operations and
and in other sectors, in and ethnodevelopment
projects
joint ventures and with and appreciate their
customers culture • Consolidated of the
human rights risk
• Combat and prevent
management process in
sexual exploitation of
critical suppliers
children and forced or
compulsory labor
• Broaden the
representation of
What do stakeholders underrepresented
groups at Vale
want to know?
Stakeholders are interested in Vale's commitments on
the topic and how this is shared with the value chain.
Directly and/or indirectly impacts all of Vale's operations and projects and value chain, as well as society as a whole. GRI 103-1
Material topic: Local Communities GRI 102-47
• Impacts on local • GRI 102-15 | 103-1, 103-2, • Socio-environmental • Maximizing value • Place within the • Launched our Social •R
educe number of events
communities 103-3 | 201, 203 | 411 | 413 impacts resulting from generation for Top 3 in the leading Ambition in 2021, (incidents) involving
| G4 MM5 | MM6 | MM7 | the operation communities external assessments guided by the pillars: communities
• Conflict resolution
MM9 of sustainable mining Sustainable Mining,
mechanisms with • Health and safety risks in
by 2030, in the social Resilient Communities,
communities • SASB EM-MM-210b.1 and the communities where
requirements and Global Causes
SASB EM-MM-210b.2 we operate
• Promotion of territorial
• Lift 500,000 people out • Inclusion of the
development • ODS 1 2 3 5 7 • Risks of involuntary
of extreme poverty indicator of reduction
resettlement and land use
• Direct and indirect of events (incidents)
8 9 10 11 17 conflicts • Indigenous communities
economic impacts with communities in the
neighbouring all Vale
• Risks of conflicts with variable remuneration
• Indigenous Peoples and operations with UNDRIP*
Indigenous Peoples and of leaders
Traditional Communities rights plans
Traditional Communities
want to know?
Stakeholders are interested in managing impacts on local
communities, emphasizing the most vulnerable populations
and the territorial development agenda.
Direct and/or indirect impacts in all territories and communities located near Vale's operations, projects, or socio-economic, environmental, and cultural initiatives GRI 103-1
Vale
Vale 1. Profile
2. Business Model
3. Purpose and Values
4. Strategic Pillars
5. Focus on Reparation
6. Dams
Vale | Integrated Report 2021

19
Profile
Sossego Mine,
Canaã dos
Carajás, Pará
Founded in 1942 and headquartered in the city
of Rio de Janeiro, Brazil, Vale is one of the world's
leading producers of Iron Ore and Nickel. We also
produce Iron Ore pellets, Copper, Manganese Ore,
Metallurgical and Thermal coal, Platinum Group
Metals (PGM), Gold, Silver, and Cobalt.
We have a mineral exploration process and operate

logistics systems, including railroads, marine
terminals and ports, that are integrated with
our mining operations. We also have distribution
centers to support the delivery of Iron Ore
throughout the world. Directly and through
affiliates and joint ventures, we have investments
in energy and steel businesses. GRI 102-2, 102-4, 102-7
Vale has been publicly-held corporation since 1970

and its shares are traded on the New Market of
the São Paulo Stock Exchange (B3) and on the New
York (NYSE) and Madrid (Latibex) stock exchanges.
GRI 102-1, 102-5
Vale 1. Profile 2. Business Model 3. Purpose and Values 4. Strategic Pillars 5. Focus on Reparation 6. Dams 20
Apresentação A Vale Visão Global Governança Corporativa Desempenho e resultados Capital Financeiro Capital Natural Capital Humano Capital Intelectual Capital Social Capital Manufaturado Análise crítica Sumário GRI Créditos
COM Environmental
MI
Main Impacts
Business Model
TM Consumption of 103.7 million m³ of water and
EN a 20% reduction in the withdrawal of new
water in relation to the base year of 2017
People
TS
Reduction of emissions due to greater
Inputs Put the safety of people and the
environment at the core of our business
consumption of renewables
Development of new technologies and
decisions, acting with respect, care and
FINANCIAL CAPITAL PURPOSE integrity. Build a positive social, solutions for the decarbonization of steel
Financing We exist to economic and environmental legacy in and mitigation of other impacts
improve life and areas where we operate. Recovery of degraded areas
Revenues transform the
USD 89.4 billion total assets future. Together. Decharacterization of dams and other
Security structures
Make Vale one of the safest and most CTS
NATURAL CAPITAL reliable mining companies in the world. ODU Impacts on water, soil and air
Minerals, water resources and PR
BY
energy resources Reparation Social
Effluents
10 thousand sq km of protected Fully repair Brumadinho, taking a 860 thousand people in 50 Brazilian
Emissions
areas leading role in restoring the dignity of municipalities impacted by Vale
Safety and Operational affected families and communities. Non-mineral waste Foundation projects in Brazil
HUMAN CAPITAL
Excellence
72,300 employees and 141.2 Mineral waste Training, engagement and
thousand contractors New pact with society Patents development of employees
Products Income and employment generation
Base Metals Transformation from tailings
INTELLECTUAL CAPITAL Transmission of knowledge
Technology: Vale Institute of Discipline in capital allocation Social projects
Technology, R&D&I and own Social license to operate
technologies Maximize the Iron Ore
Land use disputes
flight-to-quality in Iron Ore Manganese Ore
Fatalities and changed lives
SOCIAL AND RELATIONSHIP Nickel
CAPITAL Impacts on local communities
ST Cobalt
Relationship with priority R ATE S Reputation
stakeholders GIC PILL A R Pellets
Relationship with socio-environmental
2,092 local relationship Coal
organizations for communities
communities in 8 countries Copper development, environment preservation
Around 18 thousand suppliers BUSINESS ACTIVITIES Gold and recovery
ES
in the supply chain, and local Energy Economic
IC
procurement represent 53% of Exploration and mineral research Passenger transport Adjusted EBITDA of USD 31.3 billion
RV
the total financial volume
on Railroads
Dividends and shareholder value
SE
Development and implementation of projects
MANUFACTURED CAPITAL
Operation (Mining/Processing/Logistics/Power generation) A ND Fostering the local economy
Logistic structure
C TS Infrastructure for society
(ports, railroads, roads)
Commercialization P RO D U Net income from continuing
Production infrastructure operations of USD 24.8 billion
(mines and mills) Distribution Payment of taxes and provisions
Mine closure and future land use Migrations caused by Vale's presence,
positive
increasing demand for infrastructure,
negative
services and products
Purpose and Values

GRI 102-16
We exist to improve life Values Levers

and transform the future.
Together. • Safety.
•L
ife matters most.
• VPS (Vale's integrated management system).
Mining is essential for the development of the •A
ct with integrity.
• People.
world. Therefore, we seek to serve what society •V
alue the people who build our company.
needs and wants, with raw materials and other • Innovation.
•M
ake it happen.
resources to improve life, caring for the planet and
• Sustainability.
generating prosperity for all. •R
espect our planet and communities.
This is a story of transformation: of the ore, the

country, and the company, which is currently
present in more than 20 countries. Along this
transformation journey, we seek to walk together
with society, with responsibility, transparency, and Key Behaviours Our Ambitions
coherence.
Doing it together means listening, but this listening

•O
bsession with safety and risk management. • A benchmark in safety.
will only be valuable if it is comprehensive: society,
partners, customers, and the people who make •O
pen and transparent dialogue. • A best-in-class reliable operator.
Vale what it is in all the places it operates. Doing •E
mpowerment with accountability. • A talent-driven organization.
it together means creating a collective capacity to
•O
wnership for the whole. • A leader in sustainable mining.
think, dialogue, design, and accomplish possible
futures for all. For mining and for the planet. •A
ctive listening and engagement with society. • A reference in creating and sharing value.
Strategic Pillars
We seek to constantly evolve, to consolidate Vale
as a leader in supplying products that are essential
We made progress in 2021 and
to society’s the development. To maximize value
generation, we rely on five strategic pillars that
continue the efforts to
guide how we conduct our business and operations:
address our challenges
OUR STRATEGIC PILLARS
PILLAR SCOPE ADVANCES IN 2021 MAIN CHALLENGES
• VPS assessments performed by the 2nd line • 100% of the Tailings Storage Facilities • Reduce people risk exposure and increase
SAFETY AND To be a reference in
of defense in 100% of areas. classified as Extreme Consequence on the
safety and reliability, company’s competitiveness by intensifying
OPERATIONAL transforming, through Church of England Tailings Storage Facilities focus on change of processes, through remote
• Progress in the implementation of the VPS
EXCELLENCE VPS, the way we operate with a focus on improving working conditions
Disclosure list were assessed by HIRA in 2021. and autonomous operations.
and maintain our assets, (5S), performance management, discipline • Achieved 60% adherence to the requirements • Advance the maturity of VPS in a deep and
with people at the center in complying with routines and asset of the Global Industry Standard on Tailings comprehensive way to enable safe and
of decision making. maintenance. Management (GISTM). environmentally responsible operations, and
• 256% increase in the participation of employees • Decharacterized 2 upstream dams in 2021, ensure the integrity of our assets.
in continuous improvement programs. bringing the total to 7 since 2019. • Operational discipline in complying with
• Reduced by 34% high-potential recordable • Brought all dams to emergency level 3 with established routine and standards.
injuries between 2020 and 2021. downstream containment structures built • Overcome the technical challenges to
• Achieved the lowest recordable injury • Reduction of 2,900 employee exposures to decharacterize/eliminate upstream dams in the
frequency rate (TRIFR) in Vale's history (1.41). occupational risk above the Occupational shortest possible time.
Exposure Limit (OEL). • Achieve full compliance with the GISTM
• Hazard Identification and Risk Analysis (HIRA),
a risk management program, assessed 100% standard for all tailings dams by 2025.
of Vale sites*.
*Considers the assets grouped in operational sites, which

underwent HIRA implementation.
NEW PACT To be a partner company • Defined our Social Ambition and respective • Forestry target: 62,248 hectares of protected • Implement the shared value lens in our
in the development of long-term indicators (2030). forests and 5,125 hectares of recovered areas projects and operations.
WITH SOCIETY resilient communities, by 2021. More than 700 families engaged, 670
• Brumadinho Reparation: 43% evolution • Establish and execute a strategy to support the
engaged in relevant issues to direct jobs and 421 indirect jobs created. removal of 500,000 people from extreme poverty.
in total payments provided for in the
humanity and committed to
Comprehensive Reparation Agreement in • Reduced by 11.7% fresh water withdrawal, • Collaborate with indigenous communities
sustainable mining.
2021; 99% of victims with at least one family and by 20% considering the cumulative (since neighboring all Vale operations in the
member have a compensation agreement the 2017 baseline). development and execution of their plans in
signed with Vale, with 100% of these pursuit of their rights under the UNDRIP*
• Achieved a 39% increase in female
agreements already paid.
representativeness in Vale's workforce and a • Advance sustainability management and
• Implemented electric locomotive pilot. 80% increase in female representativeness in mitigation of controversies, improving
senior leadership positions compared to 2019. performance in key external assessments of
• Engagement with customers who, together,
sustainable mining.
represent more than 40% of Scope 3 • Announced the target to have 40% of Vale’s
emissions. leadership in Brazil composed of black people • Evolve the investment programs to reach the
by 2026 (up from 29% in 2021). commitments made
• First voyage of ships equipped with rotating
sails and air lubrication, achieving efficiency • Contribute to the regeneration of the Amazon
gains and reducing fuel consumption and ecosystem through combined strategies and
emissions. partnerships.
• Adapt the GHG emission reduction target of
Scopes 1 and 2 to the 1.5ºC scenario.
• Include Scope 3 in the net zero emission strategy.
BASE METALS To apply best operational • Produced our first ore at the Voisey's Bay and • Conducted a Comprehensive review of • Stabilize production at the North Atlantic
and management practices Copper Cliff Mine expansion projects. maintenance processes, mainly at Salobo, and Onça Puma mines.
TRANSFORMATION throughout all operations with a focus on improved operational safety
• Signed an Agreement with OEM to sale 5% of • Ensure replacement and growth of
of the Base Metals business and recovery of the maintenance backlog.
our Class I nickel. production capacity through the Salobo 3,
unit.
Alemão, Cristalino and Hu'u projects, among
• Approved phase 1 of the Manitoba extension.
others.
• Achieve 30-40% of Nickel supply to the
North American electric vehicle industry
within five years.
*UN Declaration on the Rights of Indigenous Peoples
DISCIPLINE To keep a focus on value • Signed the Comprehensive Judicial • Distributed dividends of BRL12.60/ • Unlock greater value by ensuring that 100%
creation and asset safety, Reparation Agreement, allowing for greater share to shareholders and bought back of critical decisions are driven by data and
IN CAPITAL investing in sustainable predictability in Vale's disbursements. approximately 6% of shares. Artificial Intelligence across the value chain
ALLOCATION production and in
• Simplified our portfolio with divestitures or
and critical assets/risks.
protecting/increasing
binding agreements for divestitures of non-
margins.
core assets (including VNC, California Steel
Industries, Moatize Coal Mine and Nacala
Logistics Corridor, Vale Manganese) leading
to a significant decrease in our cash drains.
MAXIMIZE THE To leverage our strengths in • Increased Iron Ore production capacity from • Started-up the Vargem Grande waste • Implement buffer capacity plan to 400 Mtpa
Vale’s world-class reserves, 322 Mt in 2020 to about 340 Mt in 2021. filtration plant, the first of four plants ensuring additional flexibility.
FLIGHT-TO- assets and logistics to under construction in Minas Gerais, to
QUALITY IN • Resumed asset capacity, such as Serra Leste, • Cooperate with partners for greener steel
maximize the value in reduce dependence on dams.
Timbopeba and Fábrica. industry solutions.
IRON ORE our premium portfolio of
• Investments for producing "green
products. • Resumed production at the pelletizing plant
briquettes" as a portfolio solution to
in Vargem Grande.
support the decarbonization of the steel
• Maintened ~70% of Iron Ore production by industry.
the natural humidity processing method.
Learn more Learn more

About progress on public ESG Databook.
commitments.
Maximizing our value delivery Common policies, guidelines and

technical process requirements for
managing assets and addressing risks
inherent to our business.
Ma
DE-RISKING RESHAPING RE-RATING
n
al
Set of leadership practices expected
ag
to reinforce key behaviours and shape
nic
Brumadinho Focus on core Benchmark in organizational culture and discipline.
em
ch
business safety
Mariana
en
Te
Management routines,
Elimination of Best-in-class methodologies and tools to
t
Dam safety cash reducers reliable operator sustain and improve results.
Resumption of Opportunity for Talent-driven

production growth with organization Leadership Learn more
value creation Access the
Leader in Vale Management
System Policy.
Cost efficiency sustainable mining
and ESG Practices
Our Management System (VPS)
Reference in
creating and We are on a journey to become a safer, more element has minimum compliance requirements
sharing value reliable company every day, and our management that are verified in annual cycles of formal
system, VPS, is a key lever in our Cultural assessments conducted by the 2nd Line of Defense.
Transformation. The VPS is results-focused Learn more about here.
and provides for the deep and comprehensive
implementation of policies and practices to enable The VPS is a management model in constant
safe and environmentally responsible operations evolution that consolidates and continuously
and ensure the integrity of our assets. The VPS improves its approach, methods, techniques, and
SOLID CASH FLOW GENERATION contains practices that must be adopted daily by tools used according to what has been learned. Its
all employees. These practices are based on three application is mandatory: being adopted globally in
dimensions: leadership, technical and management, operational and administrative areas.
DISCIPLINE IN CAPITAL ALLOCATION which in turn break down into 17 elements. Each
Focus on Reparation
Brumadinho and the victims' relatives and the support of the
Forensic Medical Institute have been invaluable
evacuated territories throughout this process and we are very
“The hours I am embroidering thankful for both.
I don't think in nothing bad. We will never forget Brumadinho and we remain
When I'm in the workshops determined to provide comprehensive reparation In line with the Judicial Comprehensive
with my colleagues, there's
and to compensate the damage caused to people Reparation Agreement signed with the
no sadness, it's always
and territories by the collapse of the B1 Dam at Justice Institutions and the State of Minas
everyone laughing, counting
cases is the best thing the Córrego do Feijão Mine in Brumadinho, Minas Gerais in February 2021 and homologated
you have. The monitors Gerais, Brazil. In addition to the 270 fatalities, by court decision in April, we reaffirmed our
encourage us and every time five of whom were still unaccounted for as of the commitments to continue the initiatives
you want to do something publication of this report, the dam's rupture caused underway since 2019. The total amount of the
best. It's gratifying people profound environmental and social impacts. agreement, estimated at BRL 37.7 billion (BRL
see a story in that that you
23 billion have already been disbursed since
embroidered. He was too
good to participate of the
We understand the profound significance that the document was signed), will fund Vale's
exhibition in Inhotim.” locating the remains of the missing victims has obligations to do and to pay, encompassing
for the affected families. For this reason, we socioeconomic and socio-environmental
Geralda de Fátima Ribeiro
The project Sowing Hope Pereira, student from continue to give priority and unrestricted support reparation actions for the damage resulting
(Semeando Esperança), the project Sowing Hope to the continuity of the search conducted by from the dam failure. This amount does not
developed by Grupo
(Semeando Esperança). the Fire Department of Minas Gerais, which has include compensations referring to individual
Matizes Dumont with
about 140 women in entered a new phase. Four automated search rights, which follow their normal flow of
Brumadinho, works using stations have been implemented to operate execution by Vale.
embroidery as a tool for
social transformation
simultaneously, while a fifth (reserve) station
is available, increasing the efficiency of the The actions of the Agreement have been
activity and the safety of those involved. Our detailed and implemented together with
connection with the association representing society. The socio-economic projects in
PHOTO: VALE ARCHIVE
Brumadinho and 25 municipalities of the The implementation of the actions foreseen in

Paraopeba River Basin were submitted for
popular consultation conducted by the State
the agreement poses challenges to all the parties.
Through several weekly meetings, involving
Relationship
of Minas Gerais Government in November 2021. different technical and coordination groups, the with affected
More than 10,000 people participated in the difficulties of governance and interpretation of
consultation and were able to indicate priority details of the Agreement have been overcome. At communities* GRI 103-2
"Since January 25, 2019 our lives have
changed in the worst possible way.
areas for investments in socio-economic repair Vale we have the challenge of detailing hundreds In addition to the Community Relations We never imagined that the dam in
projects in their cities. of projects defined by the communities and Brumadinho could break. Neither could
team that works in the field, we have
municipalities of the affected municipalities, our family members. They imagined they
The disbursed amount of the Agreement also aligning schedules and budgets with current
provided a toll-free phone number for were in the safest place in the world. They
includes BRL 4.4 billion to deploy the Income restrictions, and delivering projects that add the general assistance to all people who loved working for the company, they were
Transfer Program (PTR), which replaced the expected value to the territories. feel directly or indirectly affected by proud to wear the uniform. And today, all
that is left is a lot of pain, suffering and
Emergency Payment. the Brumadinho dam collapse or the
longing. We expect the company to have a
Although we know we have a long way to go, we preventive evacuations carried out and transparent dialogue with the employees,
More than 11,400 people have already been share the advances in the commitments made in other territories served by the Special inform them if there is any risk of loss of
compensated, with individual and labour the Comprehensive Reparations Agreement, on
Board for Reparation and Development. life, and to do everything to prevent it. For
agreements signed. Out of a total of BRL 3 billion the socioeconomic and environmental fronts. us family members, everything that has
committed, BRL 2.6 billion have already been paid In 2021, of the 20,254 manifestations* happened is very difficult."
out under the formalized agreements. registered on the channel, 19,946 were
Alexandra Andrade, president of Avabrum
finalized, with 12,490 fulfilled, 4,607 (Association of Families of Victims and
The reparation actions are validated by public and
justice institutions: the Government of Minas
More than 11.4 responded to, and 2,849 denied. People Affected by the Córrego do Feijão
Mine Dam Collapse in Brumadinho)
Gerais, Public Prosecution Office of the State of thousand people Service Centre:
Minas Gerais, Federal Public Prosecution Office, 0800 031 0831
Public Defender's Office of the State of Minas compensated and
Gerais. Reparation actions have been inspected by
independent audits: Getulio Vargas Foundation USD 2.6 billion
for socio-economic reparations and EY for
financial issues. The company responsible for the
paid referring Learn more
to agreements
*Related to all municipalities attended by Reparation, Watch the
environmental reparation audit is still being defined. including territories evacuated due to emergency levels testimonial
of dams. on the link.
formalized
SOCIO-ECONOMIC REPARATION • Construction of a social center for the victims' • 75 organizations and 61 projects enrolled in the
On the socio-economic front, we continue to work families, serving about 100 people a day since Valorizar Program public notice, and 28 have been
together with communities to rebuild infrastructure February 2021; awarded in several categories, such as Work and
and promote livelihoods. Initiatives include: Income Generation, Tourism, and Education and
•Ongoing works for Território Park, a joint action Culture, totaling an investment of BRL 1.4 million in
"We don't want
reparation. • The Family Referral Program, created in 2019 to with residents for the urban development of local projects;
Reparation is for provide psycho-social assistance. About 94% of Córrego do Feijão, with the purpose of rescuing
the damage they eligible families have joined the program so far the bond of the population with the territory, • Supporting small entrepreneurs with income
have done. We want (approximately 3,500 people). besides enabling a new dynamic for the local generation, professional qualification in
compensation. I want economy, less dependent on mining. The project construction or gardening, and expansion of
to tell my children • Conclusion of the construction of a new daycare foresees social spaces such as a grove, trails, an production capacity for 300 farmers;
in the future, I want centre for the Palhano community in Brumadinho overlook, a school, and a soccer field, in addition
to be able to say: (MG), with a capacity to care for 108 children, from to a community market and a culture and crafts • Encouraging tourism – one of the levers to
Antônio Pereira was infants to 5 years old; centre, where local businesses will operate, which diversify the local economy, generate employment
like this, but the have been receiving consulting services and and income, and reduce dependence on mining.
company provided
• Renovation of the Cachoeira do Choro resources for professionalization. The area will be Through the Strengthening the Competitiveness of
support and today
Community Association in Curvelo (MG), benefiting managed by the community itself, which has been the Private Tourism Sector project, in partnership
we are developed. We
at least 70 people; participating in training workshops to sustainably with Circuito Veredas, we have supported the
want a better district
manage these spaces since July 2021. The qualification of entrepreneurs, to help them
and we are able to
make it happen.” • Delivery of 5,500 new pieces of equipment to objective is to turn Território Park into a tourist structure their businesses and improve and expand
143 Basic Health Units in 15 municipalities served destination and combine quality of life with jobs their services and offers. The project takes place
Resident of the
(Brumadinho, Mario Campos, Sarzedo, Inhaúma, and income generation of. Twenty percent of the in Brumadinho, Igarapé, Juatuba, Mário Campos
Antônio Pereira
district, Ouro Preto/ Pará de Minas, Paraopeba, Pompéu, São Joaquim de work has already been completed; and São Joaquim de Bicas and has been extended
Minas Gerais (Source: Bicas, Fortuna de Minas, Papagaios, Pequi, Morada until June 2023. In addition to providing training for
2021 RepTrak Survey) Nova de Minas, Itabirito, Nova Lima and Barão de • Deployment of sewage collection and treatment 50 entrepreneurs since 2020, we will support new
Cocais), in addition to the training of 2,168 health systems is underway in the Pires community, in entrepreneurs, totalling 90 beneficiaries in total.
professionals, benefiting the population of these Brumadinho, serving 500 people;
cities, which amounts to about 400,000 people;
ENVIRONMENTAL REPARATION operations throughout the entire basin, because A factor preventing the stabilization of a faster Although our structuring actions have evolved in
Removing tailings is our first step to achieving as long as the raw water is not adequate for pace for environmental remediation in the areas the territories, we are aware of the impacts and
environmental reparation. Environmental abstraction, the riverside populations and rural impacted in Brumadinho is the fact that the work our failure to meet expectations at times. We
reparation planning begins as tailings removal producers along the river banks continue to be will only move forward after the final release by try to learn from these cases and remain vigilant
progresses and affected areas are cleared by the served with a constant supply of mineral water, the Fire Department of the areas for total tailings of residents’ needs, advancing our execution of
Fire Department, with all projects submitted for water tank trucks and water from new wells drilled, removal, once the search operations for each projects and delivery of new or revitalized public
approval by the environmental agencies before any for animal watering and irrigation. The distribution of stretch of land under analysis have been completed. equipment to the communities.
activity begins. So far, of the approximately nine water involves a large logistical operation, drastically We are confident that the new search stations in
million cubic meters of material to be removed from increasing the circulation of large trucks through the operation will allow a major advance in the pace In the territories where emergency evacuations
the channel of the Ferro-Carvão stream due to communities, which brings inconveniences of dust, of the search operations, which will speed up the occurred – Barão de Cocais, Nova Lima, Itabirito,
the collapse of Dam B1, more than 50% have been noise, and increased circulation of outsiders in the entire flow of management and final disposal of the and preventive actions in Ouro Preto – based
moved and are in the process of final disposal. impacted municipalities. tailings and revegetation of the impacted areas. on dialogue with the residents and public
authorities of each municipality, we advanced the
Considering the areas impacted by the rupture Since January 2019, the water quality of the In Córrego do Feijão, the foundations have been construction and execution of the Compensation
and its surroundings, we have reforested Paraopeba River has been monitored by the Water completed and now the structures are being built and Development Plans. We have invested a total of
26 hectares (of a total of 140) by planting Management Institute of Minas Gerais (IGAM) for the memorial to honour the victims, scheduled BRL190 million to minimize the impacts caused by
approximately 30,000 seedlings of species and Vale. Significant results of iron and aluminum to be unveiled in January 2023. The project, elevated dam safety requirements.
native to the region. This process began with were identified in stretches most impacted by designed by architect Gustavo Penna, involved
the collection of fruits and seeds in the region's the contribution of tailings, with attenuation the participation of the entire local community One of the goals of our operations in 2021 was to
forests. We have collected about 600 kg of as we move away from the confluence region and Avabrum. Our intention is to build a space of encourage the creation of new business fronts
fruits and seeds from 80 different species so far. of the Ferro-Carvão stream with the Paraopeba belonging, identification and collective interest and to strengthen existing production chains,
Thousands of seedlings have been produced from River. The iron and manganese contents, in total and a memorial to the victims of the tragedy. thus contributing to increase the family income
this, including those at the Vale Natural Reserve form, show an increase during the rainy season of the population and diversify the economy.
in Linhares, Espírito Santo state, for planting and a reduction during the dry season, and EVACUATED TERRITORIES Since March 2021, we have trained more than
in Brumadinho. Preliminary monitoring results the current condition indicates that the water Since the collapse of Dam B1 in Brumadinho, we 1,200 entrepreneurs directly and indirectly in the
from the areas in recovery indicate the presence quality is in a transition phase, with a progressive have adopted more conservative dam assessment evacuated municipalities through the Horizonte
of dispersing and pollinating species that will reduction in the metal concentrations. standards. In this sense, we have adopted preventive Project, which encourages innovative solutions
contribute to the recovery process. procedures for removing people from risk areas to the problems residents face. Of these, 39
Detailed results of the monitoring of the water quality when recommended through timely monitoring of projects are being accelerated and, as a whole,
The monitoring of the water quality of the of the Paraopeba River in the stretch impacted by the the dams. (read more in Dams) entrepreneurs will receive more than BRL2.3 million
Paraopeba River is a central factor for the repair rupture are available at Vale website. in seed capital to start their activities.
ONGOING ACTIONS IN THE EVACUATED TERRITORIES
Municipality Dam/site and Emergency Level Projects in progress or completed in 2021 Key Challenges
• Accelerate the region's reparation and

• Launching the Horizonte Project, which seeks to boost local entrepreneurship and stimulate initiatives
Nova Lima B3/B4 Dam, Mar Azul Mine development program;
with innovative solutions to the problems faced by local residents;
(emergency level 3) • Renovating the Capela Velha football field, the Jardim Amanda court and the Marcinho and Grota Fria • Close the existing ACP (Public Civil Actions)
bridges; in the territory via conciliation (CEJUSC);
• Building the Territorial Development and Social Transformation Program; • Conclude the indemnity process with
Sul Superior Dam, Gongo Soco Mine the relocated families who opted for the
(emergency level 3) • Supporting entrepreneurship projects and local projects;
extrajudicial solution;
• Acting to protect cultural and religious heritage;
Barão de Cocais • Address frequent requests from the
• Revitalizatng Praça da Lagoa; population to complete the decharacterization
Norte Laranjeiras Dam, Brucutu Mine plan of the Sul Superior Dam ahead of
(emergency level downgraded from • Supporting and strengthening public health;
schedule, which is not recommended due to
2 to 1 in November 2021) • Supporting and structuring the Barão de Cocais Emergency Care Unit (UPA); the complexity of the works;
• Reinforcing the public health network with the inauguration of the new Basic Health Unit (UBS) Nossa
Senhora de Bonsucesso, in addition to training more than two hundred professionals through the Health
Cycle program and renovating half of the city's ambulance fleet, as well as donating more than 450 items
to the city's UBSs, including stretchers, thermometers, oximeters, chairs for blood collection, computers,
tablets, routers, chairs and tables through the Health Cycle program;
• Holding public consultations with 300 people from the São Gonçalo do Bação community about paving
Forquilhas I, II and III Dams, and Grupo, the remaining 5.2 km of the MG-030 access stretch to the district, held in 2021; • Complete indemnities;
at the Fábrica Mine:
• Conducting a study of conceptual solutions to minimize flooding in the Itabirito River, with the • Return Secondary Safety Zone (ZSS) families
Itabirito Forquilha I, II and Group: emergency level 2 objective of helping municipal management find solutions for flood prevention; to their original homes;
Forquilha III: emergency level 3 • Illuminating tourist spots;
• Building Itabirito's Territorial Development and Social Transformation Program, to foster the city's
protagonism and local entrepreneurship culture, with the participation of 35 individual entrepreneurs
and 14 associations from Itabirito;
• Completing the renovation and construction of courts in five municipal schools in Itabirito;
Municipality Dam/site and Emergency Level Projects in progress or completed in 2021 Key Challenges
• Renovating the Daura de Carvalho Neto State School in partnership with the Minas Gerais Secretary of
Education to benefit more than 600 children; • Insecurity for the remaining population, after
the sequence of resettlements that took
• Renovating the Social Assistance Reference Centre (CRAS) to benefit more than 840 families, with an place
Doutor Dam, Timbopeba Mine investment of BRL 1.6 million;
Ouro Preto (emergency level 1)
• Impact Management of the dam's
• Renovating the Sorria Foundation to improve the oral health care for about 600 children and decharacterization works due to the
adolescents, with an investment of BRL 847,000; proximity of the community
• Supporting to strengthen the public health policy in the district of Antonio Pereira through the
Cooperation Agreement with the Municipality of Ouro Preto to expand health and psychosocial care
In Conselheiro Lafaiete, 648 students were September 2021, and is expected to be completed
preventively relocated due to the technical in 2022. Since March 2020 the students have
reassessment of the stability of a waste rock pile occupied a transitional structure created by Vale Key lessons learned:
in the operations near Meridional School. Work on the premises of the Presidente Antônio Carlos
• Taking responsibility for the facts and • Humility is a must for dealing with such a
on the new headquarters of the school started in University Centre (Unipac).
their consequences is the first sign of our sensitive situation.
INVOLUNTARY RESETTLEMENT IN BRUMADINHO AND OTHER commitment to remediate. • Strong management and operational
EVACUATED TERRITORIES GRI G4 MM9 • Empathy and compassion take on a discipline are crucial for successful
deeper meaning in light of the losses of recovery.
177
164 those affected.
146 • Communication cannot be perceived
107 121
109 • Active listening and presence in the field as advertising. The tone of voice should
84 84 to understand and legitimize demands. respect the perspective of those affected.
39 37 • Discussions based on technical grounds • Not being afraid of difficult
19 25
13 16 3 and KPIs defuse ideological conflicts conversations with critical stakeholders is
Ouro Preto Barão de Cocais Nova Lima Itabirito Brumadinho key to building trust.
Access our Reparation Report, with the main initiatives from 2021.
Interim service (accumulated until 2021) Definitive service (only in 2021) Total Learn more about our initiatives
The Renova Foundation and reparation in independent and participatory model. This model A new solution came through a court decision,
Mariana involve more than 70 entities working in partnership

with the support of more than 25 universities
which instituted the Simplified Indemnity
System (Novel), in August 2020, which allowed
Nineteen people died and thousands of livelihoods Vale, and BRL 2.15 billion from BHP, and spent a and 40 NGOs and partners; about 6,000 people for advances in the compensation process.
were impacted due to the breach of the Fundão Dam total of BRL 8.4 billion on its activities (BRL 7.6 who contribute to obtaining solutions to the By December 2021, more than 363,000 people
in Mariana (MG) on November 5, 2015. The dam was billion on reparatory programs, BRL 0.7 billion on challenges together; and the direct participation along the Rio Doce River Basin had received BRL
operated by Samarco through a joint venture with an compensation programs, and BRL 0.1 billion on of the local committees of those affected to 8.7 billion in total indemnities and emergency
equal stake owned by Vale and BHP (50%/50%). administrative/governance expenses). Since its negotiate indemnities and advance solutions in the financial aid (AFEs) paid out. Of this total, more
creation, the three sponsors have contributed BRL resettlement process. than 51,800 people along the Rio Doce River Basin
Reparation in Mariana has been a complex and 19.6 billion of financial resources and spent BRL received BRL 5.1 billion in indemnities paid through
challenging mission, both because of the breadth 20.2 billion: BRL 18.0 billion in reparatory programs, These two agreements continue to guide the the Simplified Indemnity System.
of territories impacted by the rupture of the BRL 1.6 billion in compensatory programs, and BRL actions of the Renova Foundation. Vale will continue
Fundão Dam, and because of the multiple social, 0.6 billion in administrative/governance expenses. to seek an expedited reparation through Renova's DELAYS IN THE RESETTLEMENT PROCESS
cultural and economic characteristics of the Expected disbursements in 2022 are BRL 10.4 governance bodies and is open to discussions The Renova Foundation faces challenges related to
region, which covers 39 municipalities in two billion, and a further BRL 6.5 billion approximately that may speed up the reparation efforts. Vale is the resettlement process that have contributed to
states (Minas Gerais and Espírito Santo). by the end of the Foundation's mission. aware that the speed of the Mariana reparation delays, mainly related to the Covid-19 pandemic. Of
does not meet society's expectations and has been about 600 consultations planned for the restitution
Throughout this period, the Renova Foundation, 20,152
supporting to speed up this process. of the right to housing in the resettlement process,
created in 2016 through the Transaction and EXPENDITURES FROM 107 were concluded by 2021.
Conduct Adjustment Agreement (TTAC), has 2015 TO 2021 ADVANCES AND CHALLENGES IN INDIVIDUAL
followed through with the commitment to fully (in BRL million): INDEMNITIES The process relies on the participation of the
8,413
repair the damage caused to all those affected With regard to the indemnity process, the Mediated community and other stakeholders, such as justice
and the environment. In December 2021, BRL 3,644 Indemnity Program (PIM in Portuguese) was institutions and government agencies. In parallel
2,720
2,132
20.2 billion had already been disbursed by the 1,349 1,770
initially installed to pay emergency financial aid and to housing construction, initiatives are underway
Renova Foundation for the reparation, of which individual indemnities. However, a challenge was to provide integrated support to micro and small
BRL19.6 billion went to execute the reparation and identified from the beginning: how to compensate businesses, which serve, in addition to the rest of the
compensation programs and the difference went 124 informal workers, such as fishermen, cart drivers, territory, about 160 families from the resettlements;
to administrative and governance expenses. Of 2015 2016 2017 2018 2019 2020 2021 Total washerwomen and artisans, who had no way to support school and cultural integration activities;
this total, BRL 4.7 billion was funded by Samarco prove the damage caused to them by the rupture. and provide guardianship and protection for rescued
and BRL15.5 billion was funded by Vale and BHP In August 2018, the Governance Conduct Adjustment animals, among others. All these initiatives make
in equal shares. In 2021, Renova received BRL Term (TAC) was signed, which changed the up an integrated solution to restore the affected
3.7 billion from Samarco, BRL 2.15 billion from governance established in the TTAC to a more population’s rights to shelter and livelihoods.
Until the properties are delivered, the resettling In 2021, full reparation agreements, including the
ATTENDANCES IN 2021 public can reside in temporary housing, where payment of family compensation, were signed
Bento Rodrigues all the costs of maintenance and guarantee of with the Tupiniquins and Guarani indigenous
Family Resettlement Pecuniary Assistance Gesteira Services
Collective habitability are borne by the Renova Foundation, peoples on all affected indigenous lands,
46 which also provides transportation to the benefiting 1,322 families.
(42 Houses and 4 25* 9 27 temporary schools and leisure and integration
Public Assets) activities. The original cultural manifestations of These agreements with the Indigenous
*24 new houses and 1 rebuilt the affected villages are encouraged and their populations were built together with the
continuity is guaranteed by the Renova Foundation communities, respecting their self-determination
as well, which promotes several actions to and the due consultation process. Besides family
To conclude these services, the restitution of the Family Resettlement maintain and strengthen these activities. compensation, the negotiation prompted the
right to housing is granted through the following Through this modality, a family can choose a nearby creation of a program to support economic activity
modalities: property to live in, or even a plot of land where their Vale recorded an additional provision of BRL2.8 resumption and a fund to indemnify immaterial
new home will be built. By 2021, 36 houses had been billion, which went to disbursements expected to and collective damages, and the detailing of the
Collective Resettlement of delivered, and 29 had been built (five by 2020 and 24 in support Samarco and the Renova Foundation due to actions of the Indigenous Basic Environmental Plan
Bento Rodrigues 2021) and seven rebuilt (six by 2020 and one in 2021). budget overruns in the resettlement works – mainly to be executed in the communities.
In 2021, infrastructure was completed for Bento related to delays due to the pandemic. Some of
Rodrigues, which includes four public assets: Gesteira Services these funds also went to include new communities An agreement was also signed with the
a school, health care unit and service station, By 2021, Gesteira had 29 completed letter of credit and categories in the indemnity program. Quilombola Community of Degredo, which has
multi-sports court, and sewage treatment plant, processes (similar to family resettlement). Two had also been receiving individual compensation and
in addition to other infrastructure such as public been completed by 2020 and 27 by 2021. REPARATION AGREEMENTS WITH its Basic Environmental Plan will be, at the request
lighting and pavement. Additionally, a total of 47 INDIGENOUS PEOPLES AND TRADITIONAL of the community itself, executed by the Local
houses were built, 42 in 2021 and 5 in 2020. Pecuniary Assistance COMMUNITIES Community Association that also acts as Technical
In the Pecuniary modality, affected parties, within In 2015, the collapse of the Fundão dam impacted Advisor, strengthening the community’s autonomy.
Collective Resettlement of their liberality and safeguarding all of their rights, the Krenak indigenous peoples in the municipality of
Paracatu de Baixo request a cash payment in an amount equivalent Aimorés, state of Minas Gerais and the Tupiniquim
In Paracatu de Baixo, about 93% of the to their right to housing. In total, 10 families and Guarani people located in the Comboios, Caieiras
infrastructure has been completed, such as access had their right to housing restored through cash Velhas II and Tupiniquim Indigenous Lands in the
and drainage, and construction on the school and payments: one by 2020 and nine by 2021. municipality of Aracruz, state of Espírito Santo.
11 houses began in 2021. The Degredo quilombola community, located in the Learn more
municipality of Linhares, state of Espírito Santo, was All the information can be
also impacted by the event. checked at Renova's website.
Renegotiation of the Programs of the
PHOTO: FUNDAÇÃO RENOVA ARCHIVE

Aerial View of
Bento Rodrigues
Mariana Reparation Agreement Resettlement
The Governance TAC also provides for a single with the parties: Samarco, its shareholders Vale
process for renegotiating the socioeconomic and BHP, as well as several justice institutions and
and socioenvironmental programs to remediate representatives of the public power. There was
the damage resulting from the collapse of the also the participation of those affected, through
Fundão dam. Considering the judicialization of the holding of public hearings on the Mariana
several themes, by several players; the advent case, as well as other face-to-face meetings
of the creation of the Priority Thematic Axes in in Brasilia, Belo Horizonte and Vitória, with
the 12th Court; and in view of the need to confer representatives of the parties involved in order
greater celerity, efficiency, and definitiveness, to seek conciliation regarding the full reparation
the renegotiation was initiated. This procedure, process for the damage in Mariana. In June 2021,
which is currently underway, aims to improve the a letter of principles was signed between the
programs without, however, confusing, inhibiting parties with the guidelines that aim to guide
or harming the reparatory and compensatory the renegotiation of these programs, as well as
actions, already carried out and/or in progress. discussion on the simplification of governance
Thus, in April 2021, the National Council of Justice
(CNJ in Portuguese), started to promote the
and measures to confer definitiveness in the
reparation process. The meetings are still Judicial Reorganization of Samarco
mediation of this renegotiation process, together ongoing. In 2021, Samarco filed for judicial reorganization before one of the Business
Courts of the District of Belo Horizonte in the state of Minas Gerais to preserve
its ability to produce, ship, receive exports and finance the normal course of its
activities, and to comply with the obligations of the Transaction and Conduct
The mediation of the renegotiation Adjustment Agreement (TTAC).
process with the parties started to be The judicial reorganization request does not and will not impact compliance
with the reparation commitments assumed as a result of the breach of the
promoted by the National Council of Fundão Dam.
Justice in April 2021
Commitment SOME QUOTES FROM VALE'S REPUTATION SURVEY THAT ASSOCIATE THE TERM "DAM" WITH THE COMPANY:
of non-repetition Dam, environmental destruction Dam
One of the pillars of our work in the committing "You have to do something impressive about what happened in "The company needs to improve investment
Brumadinho and show that it is doing something differently in in safety" (representative from Espírito Santo state)
to non-repetition of ruptures such as Brumadinho
other locations." (representative from Pará state)
and Mariana, is the decharacterization of all our
upstream dams* in Brazil, always placing the safety
of people and the environment as our top priority. Dams Dam, destruction
"Trying to repair its mistakes, seeking improvement and safety in "Don't let things like this ever happen again, you have to assume
By decharacterizing seven such structures since the way of mining." (representative from Maranhão state) responsibilities." (representative from Rio de Janeiro state)
2019 – four in Minas Gerais and three in Pará, out
of the 30 mapped – we have achieved 23% of our Dam Breach Dam, destruction
Decharacterization Plan. By 2022, our forecast is "The company needs to show more about its safety procedures "You need to take your responsibilities and make sure that you won't
to decharacterize more five upstream structures. of safety, what they changed after the accident, how they are make the same mistakes." (representative from Minas Gerais state)
With this, the company expects to end 2022 with preventing themselves." (representative from São Paulo state)
40% – 12 of the 30 mapped dams and structures
– decharacterized.
Dams
DAM RISK MANAGEMENT MODEL
At the same time and in line with the best practices GRI 103-2, 103-3 The management of dam assets, which include
for dam management, we have intensified actions dams to contain water, tailings and sediment, is
to prevent, correct and monitor unsafe structures, The Brumadinho and Mariana events have especially at Vale, because, while they are guided by a Policy for Dam Safety and Geotechnical
advancing toward the goal of having no dam in a changed the global perspective on the use and important for continued production, they cause Mining Structures. The policy establishes
critical condition (emergency level 3) by 2025. management of dams in mining. Since then, the perception of insecurity in the communities guidelines and commitments for managing these
we have been working on decharacterizing near the operations, especially in the state of structures in line with ABNT NBR ISO 9001:2015
These actions also increase the safety of the or eliminating upstream structures in Brazil Minas Gerais. – Quality Management System (QMS), the
upstream structures that will be decharacterized, and have been progressing in developing documents of the Canadian Dams Association
until the preparatory and engineering steps for technologies to reduce and dispose of tailings. In the following topics, we present the key (CDA), the Australian Committee on Large Dams
decharacterization are completed. See more in We know that we have a long way to go. measures we have taken to ensure the robust risk (ANCOLD), the International Committee on Large
Dams (chapter link). management and to reduce the dependence on Dams (ICOLD), the Mining Association of Canada
The issue of dams is currently one of the dams in our operations. (MAC), the International Council on Mining and
*The term dam includes dams and dam systems, called
Tailings Storage facilities (EAR in Portuguese), dry biggest challenges in the mining sector and Metals (ICMM), and the International Finance
stacking, and saddle and internal dikes. Corporation (IFC), among others.
In 2021, the Independent Committee for Global Industry Standard on Tailings Management MANAGEMENT SYSTEMS • 100% connected to Vale's Enterprise Risk
Extraordinary Advisory on Dam Safety published its (GISTM). Our Geotechnical Executive Risk Vale has been implementing its Tailings & Dams Management (ERM)
final report (CIAE-SB, in Portuguese acronym - Final Committee continues to monitor our Upstream Management System (TDMS) since 2020, which Status in 2021: The risks related to the rupture
Report, 2021), and has now been discontinued. To Dam Decharacterization Plan and our progress in covers the Routine, Performance and Risk pillars, all of dams and EARs are inserted in the Business
support governance of dam safety, the committee’s implementing the Dam and Tailings Management strategic aspects of dam and tailings storage facilities Risk Management (GRN in Portuguese) system
members became independent members of the System (TDMS) in alignment with the GISTM. It (EARs). In 2021, the TDMS also included all business with established standardized controls.
Independent Tailings Review Board (ITRB), acting also analyzes our governance model, composition, units with clearly defined roles and responsibilities. These risks will be gradually migrated to the
as external reviewers of Vale's risk management duties and accomplishments of the ITRBs. For 2022, the consolidation of the system is planned, operational risk base considering the specific
system in line with the recommendations of the and training for all geotechnical teams. critical assessments and controls defined
in the HIRAs. Operational risks must also be
Based on the TDMS, the work of the Engineer of identified as business risks according to criteria
Record (EoR) for continuous monitoring of the established in the company's risk management
structures is required for dams and Tailings Storage standards.
Facilities with a consequence classification of High,
BUSINESS SAFETY INTERNAL AUDIT AND Very High and Extreme. The EoR performs regular • 100% of tailings storage facilities operated with
UNITS & RISK WHISTLEBLOWER CHANNEL
safety inspections and issues monthly technical potential very high and extreme consequences
reports in order to continuously interpret the should comply with the GISTM by 2023, and the
Compliance Office results of the inspection and monitoring activities others by 2025.
Geotechnical Safety & Operational
(Internal Audit and
Operations Team Excellence Office of the structures, among other duties. External to Status in 2021: The methodology was developed
Whistleblower Channel)
operations, the EoR is integrated into Vale's lines of in 2021 and the first round of GISTM self-
defense. assessment was performed, with an average
1ST LINE OF DEFENSE 2ND LINE OF DEFENSE 3RD LINE OF DEFENSE
result of 60% adherence to its requirements.
Risk Assessment GRI 102-11
• 100% of the portfolio of dams and tailings
storage facilities with high, very high and extreme
EXTERNAL SENTINELS
consequence classification will have Hazard and Risk
Assessment (HIRA) for geotechnical structures by
Engineer of Record Independent Auditors Dam Safety Reviews the end of 2022, covering 56 structures.
Dam safety inspections and Public prosecutors technical Periodic technical reviews Status in 2021: In 2020 and 2021 HIRAs were
performance assessments reviews and the Independent by external engineering Learn more
Tailings Review Board (ITRB) company conducted for the Dams and EARs with Extreme
About our dam
consequence classification and others considered management Access
priority, contemplating 64 structures. approaches the GISTM
Where are Vale's

PHOTO: VALE ARCHIVE
dams located
In 2021, the construction of
the downstream containment
structure (ECJ) that serves the dams
Forquilhas I, II, III, IV and Group
In Ferrous Mineral operations, all

located in Brazil, Vale has:
124
dams In the North Atlantic Base Metals
operations, there are 64 tailings
registered* dams or tailings storage facilities
with the National Mining Agency (EARs), located in Canada (Ontario,
(ANM in portuguese), of which: Manitoba, Newfoundland and
Labrador), totaling 67 structures
85% for the business (added to the 3
are located in Minas Gerais Base Metals operations in Brazil).
Of this total, 43 are active tailings
43 dams and 24 are inactive dams.
are taillings dams
All dams located in Canada
have their performance publicly
93 dams and reported in according to the
2 dry stacking Towards Sustainable Mining (TSM)
are subject to the Regular program of the Mining Association
Safety Inspection Report on of Canada (MAC).
a semi-annual basis covered
by the National Dam Safety Understand Vale's dams.
Policy.
*The 124 registrations account for dams, tailings storage facilities and dam/structure
systems, such as the Pontal System.
SOLUTIONS AND TECHNOLOGIES TO Vale has already invested

MONITOR AND REDUCE DAM USE In 2021, Vale began tailings removal with unmanned equipment
In recent years, the company has sought to USD 19.5 billion in facilities and operated from a remote center. Among the emergency level 3 dams, we
projects that seek to reduce

significantly reduce its dependence on the initiated tailings removal in two of them, and continued this process in
use of dams. To this end, it has invested in
relevant structures, such as the Vargem Grande Dam. We also adopted
new potential solutions and intensified the
frequency of monitoring and conservation status
dependence on dams remotely controlled probing equipment was also adopted, which allows
assessments of its dam structures. probing to a depth of 100 meters at the dams, with more flexibility to
Processing to maintain and monitoring of the structures.
Three Geotechnical natural moisture

Monitoring Centres (CMGs),
with 24-hour instrumented To replace the wet processing, where tailings are disposed of in dams, or
and video monitoring in piles after the humidity reduction process, Vale has advanced in the EMERGENCY ACTION PLANS FOR
process of reducing dam dependence. MINING DAMS (PAEBM)
Water level monitoring at Part of the Dam Safety Plan (PSB in Portuguese),
different points of the dam, In the last 13 years, the company has invested about USD 19.5 billion in
the PAEBM is a technical document that defines
with specific instruments facilities and projects that seek to reduce dependence on dams, and in 2021 immediate actions in case of emergency. It is
natural moisture processing reached 70% of Vale's Iron Ore production. filed with the City Halls and Brazilian Municipal,
Measuring the dam's response
to seismic activity with The main advance towards the goal was the approval of the NS04 project, State, and National) Civil Defense that defines
specific instruments which uses the dry technique and concentration in Vargem Grande and immediate actions in case of emergency.
will contribute 1.5 Mta. Currently, there are three more dry concentration
Radars monitoring Under the scope of community safety, as a
projects for anticipated development in the coming years.
preventive measure, Vale performs a social
Using of satellite and Another potential solution that is being studied is the dry magnetic data survey of all people inserted in the Self-
drone images to monitor Learn more
soil conservation and concentration of Iron Ore based on technology developed by New Steel, a About
Rescue Zones (ZAS*) on its floodplains. Included
displacement company acquired by Vale. The technology eliminates the use of water in the solutions. in the PAEBM, the data involves information
the low-grade ore concentration process, allowing the generated waste about the people concerned in the risk zone,
Installating minerals to be stacked, instead of being sent to dams.
especially those with any mobility restrictions
of sirens or any physical, social, or territorial vulnerability
associated with the ability to self-rescue.
When the Emergency Level of a dam is raised, the DAM DECHARACTERIZATION PLAN Vale's plan also includes the construction of to ensure that all work is in line with the best
PAEBM should be activated, and from level II on, One of Vale's main initiatives is the three other downstream containment structures engineering practices and carried out as safely as
the communities located in Self-Rescue Zones* decharacterization of all upstream geotechnical for certain dams and dikes to hold tailings possible. After completing deeper technical studies
should be resettled to safe areas, outside the structures in Brazil, including dams, dikes and in case these structures fail, protecting the on the structures, taking into account peer reviews,
floodplain. drained stacks. Once the decharacterization is downstream area during the decharacterization and audit evaluations, more appropriate solutions
completed, the area is reincorporated into the local works. The first of these structures is scheduled have been defined for the decharacterization
The resettlement process is intended to occur in a environment. for completion in the second half of 2022, and program, therefore some previously reported
planned manner, considering previously collected the other two are in the preliminary engineering deadlines had to be revised and an additional
information, in synergy with the Municipal Civil In 2021, Vale's plan to decharacterize or eliminate analysis phase. provision of USD 1.7 billion was made.
Defense and respecting and protecting the upstream structures was reviewed. It includes 30
human rights of those involved. It is important to geotechnical structures, encompassing now the Área IX By the end of 2021, Vale completed 23% of the Due to the technical impossibility of meeting the
emphasize that Brazilian law requires people to Dam, at the Fábrica Mine in Ouro Preto (MG) which had Dam Decharacterization Plan. Since this is a deadlines established in the legislation governing
be resettled when dams are at Emergency Level its construction method re-evaluated and changed. rather complex process, several steps were taken the decharacterization of upstream structures, in
III, but Vale, aiming to reduce the risk, promotes
PHOTOS: VALE ARCHIVE

the resettlement of families whenever dams are During the period, Vale concluded the
at Emergency Level II. See more in Evacuated decharacterization of the Fernandinho dam and also
Rio de Peixe dam, ECJ Sul
Territories. decharacterized the seventh upstream structure decharacterized Superior dam,
and completed works on Dike 5 of the Pontal Dam in in 2021 in Barão de
Itabira, wich is awaiting regulatory agencies' evaluation Cocais
and no longer has the tailings storage capability.
Learn more We also completed the construction of the

Access the PAEBMs downstream containment structure serving the
Forquilhas I, II, III, IV and Grupo Dams. With this
delivery, all the dams at emergency level III now have
*The Self-Rescue Zone (ZAS) is the region located below the a downstream back up dam.
structure of a dam, at a distance of 10 km or with an arrival
time of the tailings, in the extreme case of a breach, of 30
minutes. Due to its proximity, it is considered a priority in risk or
emergency situations. Under Brazilian law, there is an obligation
to evacuate the areas closest to the dam if it is considered an
emergency level 3. As a preventive measure, however, Vale
indicates that the action takes place at level 2.
February 2022 Vale signed a Term of Commitment with FORECAST FOR

the Minas Gerais Government, regulatory agencies, and DECHARACTERIZATION OF MINERAL WASTE MANAGEMENT
State and Federal Public Prosecutors' Offices. Through GEOTECHNICAL STRUCTURES GRI 103-2, 103-3, MM3
this document the schedule and our commitment of Mining-metallurgical waste includes waste rock,
the decharacterization of all upstream structures in Number of upstream tailing rock, slag, and other wastes generated in the
Brazil were formalized, besides placing the safety of geotechnical Year of metallurgical processes of Nickel, Copper, Cobalt, Iron
people and protection of the environment as absolute structures decharacterization Ore, and Manganese. The topic is managed based on
(cumulative)
priorities. Under the term of the agreement, Vale will the Mining and Metallurgical Waste Management
contribute with USD 43.7 million for investments in Policy, which comprises a set of guidelines to
7 2019 to 2021
social and environmental projects, to be disbursed over encourage the circular economy.
eight years. 5 2022
The most recent update of the Decharacterization Plan 4 2024 TOTAL MINING AND MATELLURGICAL
indicates that 90% of the upstream dams in Brazil are in millions of tons
2 2025
slated to be decharacterized by 2029 and 100% will be
decharacterized by 2035. The structures with a longer 1 2026
2017 243 83.7 402.5 729.2
deadline are those of higher risk, and greater complexity.
3 2027
Learn more
2018 250.0 97.6 341.7 689.3
5 2029
Access the lists of structures at emergency
levels, of geotechnical structures, and the
details of the tailings dams. 3 2035
2019 235.7 55.2 335 625.9
MEASURES FOR UPSTREAM DAMS AT EMERGENCY LEVEL 3
45.4
Measures for upstream dams under critical
2020 191.6 290.7 527.8
Sul Superior B3/B4 Forquilha III
safety conditions
47.2
Downstream containment structure (ECJ)1 2020 2020 20212
2021 207.6 260.4 515.3
Decharacterization 2029 2027 2035 Other business areas2 Iron Oren - Tailings rock
Iron Ore - Waste rock
1
The Downstream containment structure (ECJs) were designed considering the tailings containment of the structures for which they
are intended, and updates and adaptations may be necessary. The company monitors extreme weather events and, in the occurrence
of these events, the technical teams are mobilized to evaluate and implement improvements that are necessary for the adequacy of 2
Other business areas include coal mining waste rock and tailings, nickel, copper, manganese, slag
the structures. (manganese-nickel alloy), non-inert waste rock (nickel).
2
Structure with the capacity to retain the tailings from the Forquilha I, II, III, IV and Grupo structures, in case of simultaneous rupture.
Sustainable Filtered Vargem Grande

sand from tailings filtration
tailings piles plant
With R&D an investment of approximately To reduce the use of dams, Vale have In 2021, operations began at the Vargem
USD 9.3 million, Vale developed in 2021 a announced an estimated investment of USD Grande filtration plant, the first of four
certified sand for the civil construction 2.2 billion between 2019 and 2026 to deploy filtration plants in Minas Gerais, reducing
market, based on adjustments to its Iron dry stacking technology for tailings in Minas dependence on dams and improving the
Ore processing operations in Minas Gerais. Gerais. The technique would allow the water average quality of the product portfolio
This material, that was previously discarded from the tailings to be filtered, reused and through wet processing.
through piles and dams, is now processed stacked to reduce the use of dams. Production capacity was increased by
and transformed into a product, following a One of the main progresses in 2021 was the 4Mtpa and began operations at the
strict quality control process. execution of the Experimental Landfills Maravilhas III Dam, which is planned to
In 2021, 250,000 tons of sand were at Itabira and Brucutu, this enabled the receive only the ultrafine tailings from
processed and sent for sale or donation implementation of the filtered tailings pile the plants, equivalent to approximately
to be used in concrete, mortar, precast, (PDR in Portuguese) projects. Besides, 16 30% of the total tailings generated by
artifacts, cement, and road paving. different tailings have been chatacterized this operation.
allowing a tremendous progress in more than
10 PDR projects. Operations of at least three
more PDRs are planned for 2022.
Learn more Learn more

ESG Databook.
About the process.
Governance
1. Governance structure
2. Risk management
3. Compliance
and Compliance
Serra Sul Complex, S11D.

In the photo, the Vale

employees, Amanda
Neves Lírio (trainee),
Wellington dos Santos
Lemos (in middle of
the photo) and Luciano
France Palhares (on the
left of the photo) in the
mine workshop

43
On December 31, 2021, Vale S.A.'s share capital

Governance Structure GRI 102-18 | 103-2, 103-3
consisted of 5,132,458,398 common shares and 12

special class preferred shares (golden shares). In
February 2022, the Board of Directors approved GENERAL MEETING
the cancellation of 133,418,347 common shares FISCAL COUNCIL
issued by the Company acquired in a previous
repurchase program and held in treasury, with no
ADVISORY BOARD OF
reduction in the value of its share capital. GRI 102-10 DIRECTORS3
COMMITTEES
• Audit
Audit and Compliance
• Operational Excellence and Risk
TOTAL SHARES AS OF FEBRUARY 28, 2022 Department
• Finance • Internal Audit
Others
PRESIDENT(CEO)4
• Innovation • Whistleblower Channel
Eduardo Bartolomeo
Shareholders with more • People, Compensation, and • Corporate Integrity
than 5% of total capital Governance
• Nominating General Secretariat for
• Sustainability EXECUTIVE OFFICERS Corporate Governance
56.48% 6.32% Shares in treasury Alexandre Silva D’Ambrosio Maria Luiza de Oliveira
Others Executive Vice-President Pinto e Paiva5
of Legal and Tax Executive Vice-President
8.07% Previ Alexandre Pereira
of Sustainability
Executive Vice-President Marcello Spinelli
of Global Business Executive Vice-President
Solutions of Ferrous
3
Read more about the members
6.35% Capital Research
Global Intestors2 Carlos Medeiros Marina Quental
of the Board of Directors and
their background, and about
Executive Vice-President Executive Vice-President
the composition of the Advisory
5.58% Mitsui&Co of Safety and Operational
Excellence
of People
Luciano Siani
Committees.
4
At Vale, the chief executive officer
5.45% Blackrock, Inc 1
Gustavo Pimenta
Executive Vice-President
of Finance and Investor
Executive Vice-President
of Business Strategy and
Transformation
shall not accumulate the position of
chairman of the Board of Directors.
6.53% Capital World
Intestors
Relations
Deshnee Naidoo 5
In 2022, the special director for
5.22%
2
Luiz Eduardo Osorio Executive Vice-President Reparation and Development,
Executive Vice-President of Base Metals Marcelo Klein, will report to
Capital International of Institutional Relations
Intestors2 and Communication the executive vice-president of
1
Position as of 12/31/2020
Sustainability, Maria Luiza Paiva.
2
Position as of 09/28/2021
GRI 102-23
Governance and Compliance 1. Governance Structure 2. Risk Management 3. Compliance 44

BOARD OF DIRECTORS
The Board of Directors is responsible for

overseeing the company's guidelines and strategic Board election and migration
plans, monitoring and evaluating its economic and
financial performance, electing and evaluating the
to the "corporation" model
members of the Executive Board, and deliberating
In 2021, the Annual Shareholders' who continue to be elected in a separate
on corporate policies, among other duties. In 2021,
"Today we have a Board Meeting (AGO) was held to elect of vote; and the election of the chairman
Vale continued to evolve its governance, seeking
references in national and international best of Directors committed Vale's Board of Directors. It was the and vice-chairman of the Board by the
practices and deepening its understanding of the to consolidating first AGO to be held after the expiration Shareholders' Meeting, with the adoption
solid governance of Vale's Shareholders' Agreement in of a lead independent director in case of the
perspective of its main stakeholders. In addition,
following international
it is also responsible for ensuring compliance with November 2020. Vale's migration to election of a non-independent chairman of
best practices for a
commitments related to respect for human rights, the "corporation" model, or to being a the Board.
corporation. The Board
corporate governance rules, accountability, and company with dispersed capital - with
has paid full attention to The Board is now composed of 13 members,
information disclosure. GRI 102-20, 102-26, 102-27 the cultural evolution of no defined control - is a landmark in eight of whom are independent (up
the company, prioritizing
the company's history. from three in 2020), most of whom have
Vale's strategic
reorientation, and our There were also changes to Vale's expertise in mining or related industries,
commitment to the ESG Bylaws in order to implement sustainability and governance.
Governance practices agenda."
governance improvements, mandating Of the 13 current members of the Board
José Luciano Duarte Penido a Board of Directors composed of 11
As required by the Brazilian Securities and Chairman of Vale's Board of (term 2021-2023), one is an employee
Exchange Commission (CVM), Vale publishes Directors
to 13 full members and one alternate representative, eight were nominated by
an annual Report on the Brazilian Code (with the exception of the employees Vale's Nomination Committee and four were
of Corporate Governance – Publicly Held representative), of which at list seven nominated by shareholders.
Companies ("the Report"). Through the Report, must be independent, under a more
Vale sets forth the practices recommended by restricted concept of independence
provided for in the Bylaws; the Learn more
the Brazilian Institute of Corporate Governance
See the Board of Directors’
(IBGC) and that are adopted by the company. individual election of Board members, regulations and its entire
Access the Report. except for employee representatives, composition. GRI 102-22, 102-24

PERFORMANCE EVALUATION OF THE FISCAL COUNCIL ADVISORY COMMITTEES GRI 102-29, 102-31
BOARD AND ADVISORY COMMITTEES GRI 102- The Fiscal Council is a permanent body that • Finance Committee The mission of the Advisory Committees is
27, 102-28 performs independent oversight of the to advise the Board of Directors, supervise
The Board of Directors recognizes that a robust Executive Board and the Board of Directors and the performance and effectiveness of their
and constructive evaluation process is an essential seeks to contribute to the best performance business risk management efforts and propose
component of good corporate governance and its of the organization through the principles of • Sustainability improvements related to their areas of operation
effectiveness. transparency, equity, and accountability. Committee GRI 102-18 to promote more efficient and effective decisions
from the Board of Directors.
Therefore, the Board has adopted the practice The Council’s duties include supervising the
of conducting annual performance evaluations managers, reviewing management's annual The Advisory Committees define their annual work
with the support of the People, Compensation reports and financial statements, and maintaining
• People, Compensation plan for priority topics of their areas. Additionally,
and Governance Committee areas. These constant dialogue with the external auditors. and Governance demands for discussions and evaluations
will be used to analyze and recommend the Committee coming from the Committee itself, the Board of
evaluation methodology, seeking opportunities Directors, or the Executive Board are dynamically
to continuously improve its governance and incorporated throughout the year.
relying on the engagement of the board members Learn more
throughout this process. Based on the input Access the regulations of • Audit Committee The committees are composed of independent
Vale's Fiscal Council.
obtained in these processes, a development plan members with expertise in the related areas.
will be created for the Board and its members, One of the highlights of 2021 was the Innovation
focusing on the evolution of Vale's governance. Committee creation to devote greater attention
• Operational Excellence
to new technologies and initiatives that provide
In 2021, due to the recent election of the new
and Risk Committee more safety, sustainability, efficiency and
Board of Directors, we decided not to carry out the The Innovation competitiveness to Vale's businesses. GRI 102-11,
evaluation, and this process is planned to be carried
out during 2022 with external consulting support. Committee was • Innovation Committee
102-18, 102-19, 102-20, 102-24, 102-29, 102-30, 102-32
For more information on the regular evaluation

process of the Board of Directors, please visit
created in 2021
the company's ESG Portal, Board and Leadership Learn more
Section. • Nomination Committee Information about
the duties and composition of
each committee.
See the highlights of the last evaluation, GRI 102-22, 102-24, 102-29
conducted in 2020, in the Integrated Report 2020.

EXECUTIVE BOARD 80% OF THE RESULT BASED The remaining 20% is awarded based on the
Vale's Executive Board is responsible for executing the DEFINITION OF COMPENSATION ON COLLECTIVE GOALS individual targets defined for each of the
business strategy approved by the Board of Directors, GRI 102-35, 102-36, 102-37 | 103 | 202 executives, in line with their focus and scope
developing plans and projects to ensure the company's As set forth in Vale's Bylaws, the overall annual of operation. Under consideration are elements
20%
efficient operational and financial performance. The
Board of Directors elects the members of the Executive
compensation paid to the members of the
Board of Directors, Executive Board, Fiscal
20% such as asset optimization; partnerships with
customers; resumption of production; reparation
Board, and the CEO is responsible for submitting the Council and Advisory Committees is established and company reputation; dam management; ESG
candidates for the Executive Vice-President positions at the Annual Shareholders' Meeting. The Board agenda; integrated innovation; diversity, equity
for the Board of Directors’ approval. In this process, the
Board is supported by the People, Compensation and
of Directors, with the support of the People,
Compensation and Governance Committee,
10% and inclusion; safety and risk; new products
development; replacement of Nickel reserves;
Governance Committee. is responsible for distributing the approved
15% plant operation; cavities; release for mining;
In 2021, the structure of the Executive Board was

compensation.
5% conducting transformative social projects.
reviewed and four new positions were created: The compensation of the members of The Health, Safety, Geotechnical, Reparation
Sustainability, People, Legal and Tax, and Business the Executive Board varies according to 10% 10% and Compliance areas do not have financial
Strategy and Transformation. Existing roles were metrics focused on environmental, social, 10% and productivity targets in their compensation
also reviewed to ensure greater alignment with the and governance (ESG) goals, among others, dashboard.
company's strategy and promote the evolution of especially in long-term compensation. Economic and People
Financial (Ebitda) Productivity*
our corporate governance, as well as to standardize Health and Safety Long term: The long-term variable
Vale Production
the executives' contractual conditions and align and Short term: In 2021, the short-term goals Operational Risk System - VPS compensation is based on shares (Matching and
clarify responsibilities. We also nominated the first associated with variable compensation for the Specific Block PAV programs). In the cycle beginning in 2022, it
Sustainability
non-white female leader for the Executive Board for CEO and other executive officers included: was proposed to increase the weight of the ESG
the Base Metals business. GRI 102-10, 102-19 * The Productivity indicator was not included in the metric in the PAV from 20% to 25%, reinforcing
President's panel and its weight of 5% was transferred to
the Economic Economic and Financial block, totaling 25%.
Vale's commitment to best environmental, social
Currently, the Executive Board is composed of the and governance practices.
CEO and ten statutory Executive Officers1, nine of
whom are statutory2. Learn more.
1
Vice Presidents appointed as Executive Officers as per Company's
Four new positions were created: Sustainability,
Bylaws
2
They are the Company's legal representatives, responsible for day-
People, Legal and Tax, and Business Strategy
to-day operations and business decisions and for implementing the
general policies and guidelines set by the Board of Directors. and Transformation
CEO AND EXECUTIVE OFFICERS – EVOLUTION TOTAL COMPENSATION MIX Risk Management GRI 102-11, 102-15, 102-30, 102-33, 102-34
Risk management in all activities is a crucial topic and Reputation Risks. All of these act in a
PRESIDENT VICE-PRESIDENT when conducting our business. To that end, preventive manner their mission is to support
we have a Risk Management Policy, which was Vale's executive officers in monitoring risks and
revised and approved in 2021, that determines the necessary deliberations.
main methodologies, guidelines, processes, and
2019 27% 33% 40% 2019 33% 33% 34% responsibilities on the topic. The Integrated Risk Map is assessed and approved
at least once a year by the Board of Directors, on
Guided by ISO 31000, ISO 55000, COSO-ERM and, the recommendation of the Executive Board and
by an operational safety management system aims to contemplate risks that need to be assessed
called Risk Based Process Safety (RBPS), Vale's and monitored in all units.
2020 19% 24% 57% 2020 31% 31% 38% risk management is structured under the lines
of defense model, in an effort to ensure robust
governance and efficient controls. Learn more.
In addition to the Board's Advisory Committees,

2021 11% 19% 70% 2021 29% 29% 42% responsible for overseeing the scope and
effectiveness of the executive officers' business
risk management, there are also Business Risk
Executive Committees, created by Vale's Board of
Directors: Operational Risks; Geotechnical Risks;
Learn more
2022 11% 18% 71% 2022 27% 27% 46% Strategic; Financial and Cyber Risks; Compliance
Access the Risk
Risks; and Sustainability, Institutional Relations Management Policy.
Fixed Compensation Short Term Incentive

Long Term Incentives*
The Integrated Risk Map is evaluated
and approved at least once a year
* Refer to the Long Term Incentives remuneration programs (share-based) Matching
and PAV (Vale Stock Program). by the Board of Directors
First full load of a Valemax KEY LONG-TERM EMERGING RISKS MAPPED RISK MANAGEMENT PROGRAM - HIRA
type vessel at theTubarão
Port Complex,
Vale relies on the Hazard Identification and Risk
in Espírito Santo Collective manifestation of a disease that rapidly Analysis (HIRA) program for operational risk
EPIDEMICS AND spreads, by direct or indirect contamination, reaching a management. The program is designed to map
PANDEMICS large number of people in a given territory (e.g., Covid-19, and analyze high-severity operational safety risks
ebola, avian influenza, etc)
or those of a very high-risk amplitude, identify
RUSSIA - UKRAINE Escalation of the conflict could lead to disruption of and define performance criteria and establishes
WAR AND international trade flows, extreme pricing, high volatility assurance of the appropriate critical controls, as
INTERNATIONAL in the markets, with particular impact on the energy well as the mitigation plans.
SANCTIONS sector, increased regulatory and contractual uncertainty,
and geopolitical tensions around the world. It may
In 2021, the 1st HIRA cycle was completed as
also lead to a cooling off of the international Sanctions
landscape by imposing new restrictions on selling or part of our strategy to improve operational
purchasing products, or conducting business with risk management. The 2nd cycle has already
specific countries, companies and individuals. started and will last and will be completed in
the next three to five years. As part of the HIRA
CYBERSECURITY Vale's business relies heavily on technological systems
program, the Integrated Risk Management tool
for its operations. Cyber events or attacks can have a
significant impact on our business. Cyber risk management was updated, as it now consolidates all the risk
discipline addresses situations in which the availability, related information in a single platform, which
integrity, and confidentiality of information technology contemplates the inclusion of the information
and operational technology systems can be compromised. from the Risk Management area and other lines of
defense in a single platform.
CLIMATE Increased sense of urgency to address the challenges
CHANGE that threaten not only the mining industry, but society
as a whole. Low-carbon mining is one of our priorities for
the coming years.
We concluded
the 1st cycle
Learn more
See the main causes, impacts, and
of HIRA in 2021
risk mitigation actions of the main
emerging risks.
PHOTO:TADEU BIANCONI / MOSAICO IMAGEM

Compliance GRI 103-2, 103-3 | 205, 205-1, 205-2
LEARN A LITTLE ABOUT EACH OF THE PILLARS OF

VALE'S ETHICS & COMPLIANCE PROGRAM:
Ethics and integrity are principles that guide what it found to be a step-change evolution in
how we conduct all of our activities. In 2021, Vale Vale's compliance culture. Among the topics that
launched its Global Ethics & Compliance Program, presented the most evident advances are training for Governance Guidelines
consolidating activities to promote ethical conduct employees, appropriation of the compliance theme, The Audit and Compliance Department is the Vale's Code of Conduct brings together the
and anti-corruption behaviour. adaptation of policies and guidelines to different area responsible for the program. Reporting company's ethical principles, which are based on
realities, and dissemination of the company's directly to Vale's Board of Directors, the our values and purpose. The new edition of the
The program has six pillars, which guide the Whistleblower Channel. Additionally, the diagnosis department is supervised by the Audit document, published during the launch of the
expected behaviour and decision making in an also points out opportunities for improvement that Committee and works in conjunction with the Ethics & Compliance Program in 2021, is available
ethical and responsible manner: (1) Governance, are incorporated into the program's annual planning. Conduct and Integrity Committee, which has in nine languages and has audiobooks available for
(2) Guidelines, (3) Communication and Training, (4) These include training for contractors, accountability had an independent external member since the visually impaired. Employees were invited to
Monitoring and Risks, (5) Whistleblower Channel, of the Reporting Channel, and wider dissemination 2021. This structure ensures the necessary renew their commitment to ethics by signing the
and (6) Consequence Management. GRI 102-16 of the structure, tools, and methodologies used by autonomy and independence for the Audit code's statement of awareness and commitment.
the area. We will perform this compliance culture and Compliance Department to conduct of In 2021, 85.74% of the employees signed the
In 2021, Vale hired an independent external diagnosis at least once every two years. In addition, Internal Audit, Whistleblowing Channel and document. New employees sign the Code of
consulting firm to conduct a diagnosis of the the activities of the Ethics & Compliance Program, Corporate Integrity areas, the latter being Conduct when they are hired.
company's compliance culture. This diagnosis including the Whistleblower Channel, will also be the 'guardian' of Vale's Ethics & Compliance
allows us to identify the maturity level of the submitted to an external audit once every two years, Program. In 2021, three new editions of the Ethics &
implemented processes, the impact of the actions, starting in 2022. Compliance Program documents were also
and employee perception of the topic. In the last published. The Global Anti-Corruption Manual,
year, the consulting firm's analysis demonstrated revised during the year, details the rules defined
in the Global Anti-Corruption Policy. The company
also published its Global Guidelines on Conflicts
of Interest and launched its first Consequence
In 2021, we carried out a diagnosis on Management Policy, a document that establishes
guidelines for applying disciplinary measures for
Vale's compliance culture to identify confirmed misconduct. GRI 205-2
the processes maturity level

Communication and Training

The communication and training strategy of the Ethics
& Compliance Program includes mandatory actions for
all employees and specific training for areas classified as
Whistleblower Channel and Consequence Management
GRI 102-17, 102-34 | 406-1
priorities due to their exposure to the risk of corruption.
In 2021, Vale's Whistleblower Channel underwent companies were notified and the employees were
In 2021, as part of the communication actions for the
a restructuring process through which we demobilized. Eighteen cases of moral harassment
program's launch, we released four short films on
implemented of new protocols. In 2021, there was were confirmed, which generated action plans
relevant topics – Ethics, the Whistleblower Channel,
Harassment, and Corruption and Fraud. We also a 33.8% increase in the number of reports received involving training, coaching, feedback, warnings,
produced educational booklets detailing the ethical by the channel, totaling 6,248 reports that included dismissal and/or contractors demobilization.
principles of the company's Code of Conduct. allegations, inquiries and complaints. Throughout Additionally, Vale adopts preventive measures to
the year, 5,526 of these reports were closed. All promote a culture of integrity in teams that have
In addition, an online course on ethics and compliance confirmed violations have been assigned remediation had confirmed misconduct. Action plans for dealing
was launched and, taken by 89% of Vale employees plans. During the year, 3,014 corrective actions
globally, totaling the participation of 64,330 people. with allegations confirmed in 2021 also included
were established, including actions to dismiss 157 promoting round-table discussions and holding
A total of 1,886 employees from priority areas also
received specific training on anti-corruption rules.
employees. health and safety dialogues on a culture of respect,
The first global edition of the conflicts of interest During this period, 11 cases of sexual harassment moral and sexual harassment, discrimination,
campaign was also held, with 34,422 employees were confirmed in Vale's Brazilian operations. In among other topics.
participating (64.17% of employees with computer
all 11 cases, all the victims were women. There More information on Vale's Whistleblower Channel
access). GRI 205-2
were also three confirmed cases of discrimination and actions to promote a culture of ethics and
Risks and Monitoring - two involving gender issues and one related to integrity at the company are reported in the Ethics
In 2021, using tests and controls, Vale strived to sexual orientation. Vale classified all these cases & Compliance Program's Annual Report.
reinforce the continuous monitoring of processes and as very high severity, according to the company's
risk management actions to track how the company Consequence Management Policy launched in 2021,
was adhering to the Ethics & Compliance Program and they resulted in termination actions. In the
guidelines in practice. cases involving contractors, on the other hand, the

ANTI-CORRUPTION RULES SOCIOECONOMIC AND ENVIRONMENTAL ANTITRUST, UNFAIR COMPETITION, AND CONFLICTS OF INTEREST
GRI 205, 205-1 COMPLIANCE GRI 103-2, 103-3 | 307-1 | 419-1 GRI 102-25 | 206-1
Vale has zero tolerance for corruption and bribery. In 2021, the Vale group companies received 21 Besides having a specific Anti-corruption Policy, In 2021, the company published an internal
The company's anti-corruption rules are mechanisms significant fines (amounts equal to or higher the main references in antitrust management are document “Global Guidelines on Conflicts of
intended to ensure compliance with all applicable than USD 10,000) for non-compliance with the guidelines and decisions of the jurisdictions in Interest”. The absence of conflicts of interest is
anti-corruption laws, including the U.S. Foreign environmental laws and regulations, totaling the regions where we operate. In 2021, no critical one of the ethical principles of the new edition of
Corrupt Practices Act (FCPA), the Brazilian Anti- about USD 10.2 million, and 11 non-monetary facts of antitrust or unfair competition were Vale's Code of Conduct. The company repudiates
Corruption Law (Law No. 12,846/2013), and local laws sanctions related to various aspects, such as identified or reported. and rejects any action, influence or decision
in each country in which we operate. alleged non-compliance with environmental motivated by interests contrary to the standards
conditions, pollution, and activities performed that are not exclusive and legitimate to Vale.
In 2021, Vale's operations were submitted to without the necessary environmental
corruption-related risk assessment. These risks are authorizations/licenses.
PHOTO: GUSTAVO BAXTER

broken down internally among the areas according Dois Irmãos Train
station at Vitória-
to the degree of exposure to corruption and has The company also received five significant fines,
Minas Railroad
associated controls and clear anti-corruption rules. totaling USD 868,000, and three non-monetary
sanctions (warnings) for non-compliance with
In total, 16 controls are related to Vale's anti- socioeconomic laws and regulations, applied in
corruption rules, six of these are classified as the scope of administrative proceedings filed by
key controls and related to approvals of socio- the National Land Transport Agency (ANTT in
environmental investments, specific conditions for Portuguese) and related to providing passenger
donations and sponsorships, suppliers in general, rail transport service. Vale emphasizes that it
high-risk suppliers, hiring of public agents and constantly invests to continuously evolve its
training in the Ethics & Compliance Program. control and monitoring systems, and that the
fines and non-monetary sanctions applied to
In 2021, no cases of corruption involving public the company are discussed in the scope of the
agents were identified. Through the company's respective administrative and judicial processes.
Whistleblower Channel, three cases of bribery
involving private companies were identified, all of
which resulted in actions to dismiss the employees
involved. GRI 205-3

DATA PRIVACY company's main systems and personal data flows SOCIO-ENVIRONMENTAL EXPENDITURES
Privacy is a Fundamental Individual Right, which are permanently evaluated, to ensure their correct GRI 203-1
should have the same rigorous treatment and level treatment in adherence to the requirements and In 2021, Vale contributed USD 1.3 billion in
of protection as any other fundamental rights. With guiding principles of the applicable laws. socio-environmental expenditures, including
rapid digitalization, growing digital dependence, those related to Brumadinho, which
and the volume of personal data circulating in the Governance represented a 28% increase compared to
digital world, several laws aimed at strengthening The executive management reports to the 2020. As for environmental expenditures,
privacy and data protection practices are being Executive Vice President of Legal/Tax, acting in the contribution totaled USD 804.2 million,
implemented globally. partnership with other areas of the company such of which water resources, environmental
as the Vice President of People, Corporate Security, liabilities, and energy accounted for the
In 2021 Vale created an independent Executive Department of Technology and Information largest expenses. Social expenditures
Management of Personal Data Privacy, defining an Security, Repair Management, Supplies, among totaled USD 473.5 million, 73% with our
executive responsible for the global management of other areas of the company. own resources and 27% through incentive
the program at the company. The objective of the laws. The main expenditures were in urban
Privacy area is to preserve the right to privacy and Privacy Guidelines infrastructure and mobility, culture, health,
protection of personal data of individuals who have Vale's Privacy guidelines were established in a and social protection.
a relationship with Vale, acting in an independent Global Policy published in 2020, which sets out
and multidisciplinary manner. the minimum conditions for Vale and other group
companies to handle personal data. Learn more
The creation of the Privacy Department was the About Social
Investments.
result of work that began in 2018, with the hiring of The program also has a direct communication
specialized consultants who have conducted, over channel with the privacy team and with the DPO
the years, assessments of the company's maturity - Data Privacy Officer, so that data subjects can
in relation to the main privacy legislations in the
areas where we operate (especially but not limited
make requests concerning their data, or even
submit complaints or suggestions.
Vale created an independent
to Brazil, Europe, China and Canada), with the executive management of Personal
implementation of specific actions in each region to The communication channel, as well as Vale's
adapt our operations to privacy rules. external privacy notice, is available on our website. Data Privacy. The purpose of the area
Company executives and employees have been is to preserve the right to privacy
receiving regular training in privacy practices. The
and data protection

Manufactured Capital
Manufactured
Capital
Sossego Mine,
in Canaã dos
Carajás, Pará

54
Presentation A ValeVale Visão Governance
Apresentação Global Governança CorporativaManufactured
and Compliance DesempenhoCapital Financial
e resultados Capital
Capital Intellectual
Financeiro CapitalCapital
Natural Natural
Capital Capital
Humano Human
Capital Capital
Intelectual Social Capital
Capital Social Critical
Capital Analysis
Manufaturado Assurance
Análise crítica GRI IndexGRI
Sumário Credits
Créditos
ACTIVITIES MAP GRI 102-3, 102-4-102-7

MANUFACTURED CAPITAL Exploration Joint Venture Offices Headquarter Operations Port Railroad
Vale completed the year with around 340 Mtpy

of iron ore production capacity and expects to
reach 370 Mtpy by the end of 2022 VALE SERVES INDUSTRIES,
PRODUCTION AND SALES SUCH AS STEEL INDUSTRY,
Mtpy Production ON ALL CONTINENTS
Sales GRI 102-6
Iron Reino Unido
ore:
Canada Netherlands
350000 301,972 300,385 315,610 Switzerland Americas
280000 277,508 South, Central and
China North America
210000 269,306 254,865 Serbia Japan
140000
United
States Europe
70000
United including Turkey
0
Arab
Oman
Pellets: Emirates
India Asia and Africa, considering
50000
43,199 •Middle East North
40000 Africa and India (Menai) –
31,211 32,306 Indonesia
30000 41,794 Malaysia Middle East, North Africa and
31,708
20000
29,676 India
10000 Peru Malawi •China, Japan, Korea, Taiwan,
0
Singapore Southeast Asia (Vietnam,
Nickel: Brazil Indonesia, Malaysia and
Paraguay
300 Mozambique Philippines)
Australia
208.0
183.7 181.8
200
168.0 Argentina •Oceania (Australia)
205.7
183.1 Chile
100
0 *It accounts for the

NUMBER OF STRUCTURES BY number of structures
Copper:
400
381.1
365.2
360.1
62%
EMERGENCY LEVEL
191
total dams **
(EARs) to be
decharacterized, some of
which are part of the
300 296.8
346.3 of Vale's Level 1
same dam/ EAR system,
284.5 such as the dikes 1A and
electricity
67 124
200
19 30* upstream 1B that make up the
consumption geotechnical structures Conceição System
100 come from
2,324 MW
Level 2 will be decharacterized in of base of iron ore (accounted for in the
0
itself-generation Minas Gerais and Pará by total of 191 dams/ EARs).
portfolio 7 metals
2035, of which 7 have **Also includes
Manganese: was the total of Vale's dam/tailings storage
1,576 Level 3 already been concluded
1500 1,378 electricity self-generation facilities systems that
3 since 2019
contain more than one
structure.
1000
1,063
740 ENERGY CONSUMPTION MATRIX BY SOURCE
Others Renewable Other fuels:
500 573 In %
oils Fuels •Other gases: 0.1
350 Electricity Diesel oil Coal and coke Natural gas
•Shipping oils: 0.1
0 29.6 30.3 14.8 13.6 7.1 4.3 •Other liquid fuels: 0.1
2019 2020 2021
Manufactured Capital 55
Divestments in non-core assets GRI 102-10

VALE PRODUCTS GRI 102-2
In 2021, we completed the sale of Vale New Given our commitment to a just transition, Vale ore assets that our company owns in the states
Where we operate:
Caledonia (VNC) to the Prony Resources conducted a responsible investor search process of Pará and Mato Grosso do Sul. The strategy of
Iron Ore: Brazil, Oman, Malaysia and China. New Caledonia consortium, in line with our for Mozambique's assets, and the new operator, divesting Vale Manganês's Ferroalloy operations
Nickel: Brazil, Canada, Indonesia, Japan, China, UK. commitment to withdraw from New Caledonia Vulcan, a private company that is part of the streamlines our company's operations, allowing
in an orderly and responsible manner. A total of renowned Jindal Group, has extensive experience continued focus on core assets.
Coal: Mozambique.
USD 555 million were disbursed as part of a USD working in Mozambique.
Copper: Brazil and Canada. 1.1 billion package to provide VNC with the means The transactions reinforce the discipline in
Manganese and ferroalloys: Brazil. to build a trajectory with sustainable operations. Also in December, we announced the sale of our Vale's capital allocation, with a focus on its
50% interest in California Steel Industries to core businesses and a commitment to portfolio
In December 2021, we signed a binding Nucor Corporation (Nucor), completed in February optimization, based on our goals to preserve our
agreement with Vulcan Resources (Vulcan) 2022. As a result of the transaction, we received operational continuity and a responsible and
PRODUCTION AND SALES HIGHLIGHTS IN 2021 regarding the sale of the Moatize Coal Mine a purchase price of USD 436.7 million in cash, of sustainable exit.
The production and sales highlights in 2021 were: and the Nacala Logistics Corridor (CLN), in line which USD 400 million is related to 50% of the
(a) the volume increase in Iron Ore production (5% with the company's decarbonization strategy, value of the negotiations and the remainder
p.a.) and sales (9% p.a.) driven by higher production adapting its investment portfolio to a low- related to adjusted net debt and working capital at
at our Minas Gerais operations (17% p.a.), partially carbon economy. The transaction involves a the closing of the transaction.
offset by weaker performance at S11D (-11% p.a.); total of USD 270 million, comprised of USD 80
(b) a favourable market price scenario (46% p.a.); (c) million at the completion of the transaction In January 2022, we completed the sale process
the strike in Sudbury, interrupting our operations and USD 190 million from the existing business of Vale Manganês assets, including the Ferroalloy
for 70 days and contributing to a 9% reduction in until completion – plus a 10-year Royalty production units in Barbacena and Ouro Preto,
Nickel production and an 18% reduction in Copper Agreement subject to certain conditions of Mine and the Morro da Mina manganese ore mine, in
production; and (d) the stronger performance of production and coal prices. The completion of Conselheiro Lafaiete, Minas Gerais. The VDL Group,
Coal production in Moatize (45% p.a.), along with
the signing of a binding agreement to sell the asset.
the transaction is subject to the fulfillment of
customary preceding conditions, including the
a business conglomerate that operates in the
transportation, mining, and steelmaking segments,
We completed the sale
approval of the Ministry of Mineral Resources
and Energy of Mozambique, and the approval
has definitively taken over the management of the
assets of the three units, ending our activities in
of assets in line with
of the Government of Mozambique under the production and sale of Manganese Ferroalloys. our strategy to focus
the Concession Agreements for the change of The transaction did not involve the manganese
Learn more
Production and sales
control and antitrust. on core businesses
highlights in 2021
Manufactured Capital 56
PHOTO RICARDO TELES

Industrial Complex
S11D, in Canaã dos
Carajás, Pará (PA)
Financial
Capital
57
Apresentação A Vale Vale
Presentation Visão Global Governança
Governance Corporativa Manufactured
and Compliance Desempenho e resultados
Capital Capital
Financial Financeiro
Capital CapitalCapital
Intellectual Natural Capital
NaturalHumano
Capital Capital
HumanIntelectual
Social Social Capital
CriticalManufaturado
Analysis Análise crítica GRISumário
Assurance Index GRI Credits
Créditos
FINANCIAL CAPITAL NET INCOME FROM RESULTS AND IMPACTS

CONTINUING OPERATIONS
In a year still marked by the persistent effects of the In USD billion 2019 2020 2021
Covid-19 pandemic and market volatility, we were able to 24.8
reach significant milestones in creating sustainable value
25
8 7.7
20
for our stakeholders 15 TOTAL ASSETS 6

3.5 3.5
Taxes 4
10 6.3 In USD billion and royalties
2
5
0.4 91.7 92 In USD billion
0
0 89.4
-5 2019 2020 2021 8
Employee salaries 6
NET OPERATING REVENUE FROM CONTINUING OPERATIONS and benefits: 2.2
4
1.9
In USD billion MARKET CAP In USD billion 2 1.9
60
54.5 100 In USD billion 0
0.5
50 0,5
39.5 89.4
40 36.5
Research
and Development:
30
80
In USD billion
0.4 0.4
0,4
20 72.0
70.1 15 14.2
10 12
Payments
0 2019 2020 2021 to capital providers: 9
60
2019 2020 2021 In USD billion 6 3.8 4.1
3
Mitsui&Co GROSS DEBT 0,8

0.8
Capital Research 5.58% In USD billion 0,7
Global Investors2 0.6

15 Environmental 0,6
Shares in treasury 0.5
6.35% expenditures: 0,5
6.32% In USD billion 0,4
Blackrock, Inc1 14 0.5

0,5
5.45% 13.4 0.4
TOTAL SHARES Previ 13.1 Social
0,4
Capital World
AS OF 8.07% 13 expenditures: 0,3
Investors2 In USD billion 0.2
6.53% FEBRUARY 28, 12.2 0,2
2019 2020 2021
2022 12
Capital
2019 2020 2021
International 2019 2020 2021
Investors2 Others
5.22% 56.48% Adjusted EBITDA from continuing operations
1. Position as of 12/31/2020
2. Position as of 09/20/2021 USD 31.3 billion
Financial Capital
A Vale 58
Economic-financial performance GRI 103-2, 103-3 | 201
In 2021, Vale achieved adjusted EBITDA from executing growth projects. The amount invested RESULTS OF EQUITY HOLDINGS BY BUSINESS AREA
continuing operations* of USD 31.3 billion, 13.8 represents an increase of 18% compared to 2020,
(IN USD MILLIONS)
billion higher compared to 2020, mainly due to due primarily to: (a) the advance in Salobo III, 2021
higher realized prices and sales volumes of Iron expansion of the Voisey's Bay Mine and the Serra
Ferrous Minerals 166
Ore and Pellets, partially offset by certain costs Sul 120 Mtpy project, as planned; and (b) the start
and expenses that included third-party purchases of execution of the Capanema (Iron Ore) and Sol do Base Metals 1
and royalties, higher freight costs and higher Cerrado (solar energy) project. Coal -
maintenance and service costs.
Others 327
Net income from continuing operations was USD TOTAL 494

PERFORMANCE INDICATORS
24.8 billion for the period, USD 18.6 billion higher
compared to 2020, mainly due to higher proforma
EBITDA and higher financial results. USD 54.5 USD 31.3 USD 27.7
billion billion billion BALANCE SHEET (IN USD MILLIONS)
Net operating revenues was USD 54.5 billion, an Net operating Adjusted EBITDA Operating 2021
increase of USD 15.0 billion compared to 2020. revenue from from continuing income from
The increase is due to better market conditions continuing operations continuing Current assets 22,360
and higher realized Iron Ore prices. Costs and
operations operations
Non-current assets 14,389
expenses from continuing operations, including the
Property, plant and equipment, net and intangible assets 50,942
Brumadinho reparation, totaled BRL 142.9 billion
Investments in associates and joint ventures 1,751
(USD 26.4 billion), remaining BRL 11.5 billion (USD 969
USD 24.8 USD 24.7 USD 5.2
million) more than the amount spent in 2020. Total assets 89,442
billion billion billion
Current liabilities 15,198
Our investments in the period were USD 5.2 Net income from Net income Investments
billion, of which USD 4.2 billion were dedicated to continuing from continuing Non-current liabilities 38,938
operations operations
the maintaining operations and USD 1 billion to attributable Total liabilities 54,136
to Vale Stockholders’ equity 35,306
*Continuing operations: does not consider the result of the shareholders
coal operation TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 89,442
Financial Capital 59
STATEMENT OF VALUE GENERATED VALUE GENERATED AND DISTRIBUTED (IN USD MILLIONS) GRI 201-1
AND DISTRIBUTED GRI 201-1
Vale's statement of value generated and
North South
distributed includes revenues, operating costs, America, America, Middle
Country/ Region Canada Brazil Europe Africa Australasia TOTAL
employee compensation, donations and other except except East
Canada Brazil
social investments, retained earnings and
payments to capital providers and governments.
Revenues - 1,805.5 1.3 5,272.6 44,317.2 - 3,104.9 (0.0) 54,501.5
In 2021, the earnings with regards to the balance
sheet for the fiscal year reached a total of BRL 12.62 COUNTRY/REGION - 1,805.5 1.3 5,272.6 44,317.2 - 3,104.9 (0.0) 54,501.5
per share, between interest on capital and dividends.
Operational costs - 2,312.5 13.3 10,565.4 6,097.5 - 796.0 240.6 20,025,3
Employee salaries and benefits - 435.0 6.9 1,252.4 30.8 - 106.2 41.0 1,872.3
Research and development - 110.2 26.4 324.1 20.9 - 67.1 - 548.6
Payments to capital providers 421.9 252.0 - 13,475.8 26.2 - - - 14,176.0
Payments to government 17.5 (194.3) 2.8 7,740.4 (21.8) 60.0 86.3 3.7 7,694.6
Environmental expenditures - 106.5 0.7 670.8 1.2 19.7 1.5 3.7 804.2
Results center
Social expenditures - 6.0 0.0 449.2 1.7 14.2 1.6 0.8 473.5
Access Vale’s complete 2021 financial
statements. DISTRIBUTED ECONOMIC VALUE 439.4 3,027.9 50.0 34,478.1 6,156.6 93.9 1,058.9 289.7 45,594.6
See Vale's global tax contributions in
our annual Tax Transparency report. ACUMMULATED ECONOMIC VALUE (439.4) (1,222.4) (48.8) (29,205.5) 38,160.7 (93.9) 2,046.0 (289.7) 8,906.9
Financial Capital 60
PHOTO: ANDERSON BIBICO

Tubarão Port receives the first large
Intelectual
ore carrier in the world equipped with
a rotating sail system (rotor sails). The
Sea Zhoushan vessel is a VLOC (Very
Large Ore Carrier), with a capacity of 325
thousand tons
Capital
1. Innovation
2. Vale Institute of Technology (ITV)

61
Plant TAILING IS TRANSFORMED

INTELECTUAL CAPITAL Monitoring
center
INTO CONSTRUCTION MATERIAL
Dry production avoids the use of dams
Our pillars for innovation are: Protecting lives,
Sustainable mining, Market differentiation,
Learning Journey and Open Innovation
Rejeito Mine
VALE'S GEOTECHNICAL MONITORING
TECHNOLOGICAL Monitoring
DEVELOPMENT Team and roles analysts
+20
CENTERS
Geotechnicians
Mineral
Development people work 24 hours
Center (CDM), in divided into 3 or 4
Sabará (MG) shifts. They are:
Blocks production Sand production
Ferrous
Technological Coordinators Mud
Center (CTF), in 1. The tailings are placed 1. The process of
Nova Lima (MG) in the mixer together with removing mud
water, cement and from iron ore is
Vale Technological binders carried out
Institute - A dashboard displays all the
Sustainable analysis tools available in real
Radar operators 2. The mixture is placed in a
Development (ITV time to the professionals. Technicians 2. The residue
press, which by means of
DS), in Belém (PA) Check it out below. is concentrated
vibration and compression is
transformed into blocks
Vale Technological 1 2 3 4 5
Institute - Mining 3. Then it goes
(ITV MI), in Ouro through sorting
3. The blocks are packed,
Preto and Santa and filtering
stacked and stored
Luzia (MG) processes
Artificial
Intelligence Center Interpretation of Data collected by radars Monitoring of Video monitoring for Video analytics can
(AI Center), in monitoring and is able to point any earthquakes anomaly detection differentiate geological
Vitória (ES) mapping data of dams displacements of induced by and non-geological 4. And so both the blocks and the
structures operations in the movements sand are ready to be used in civil
surroundings construction
ITV IN NUMBERS (2011 TO 2021):
USD 209.2 million

already invested in research
747 Development of the world's

first large ore carriers
Implementation of an electric
locomotive in Tubarão Port in
Launch of the
"green briquette", a
Off-road trucks are
using Artificial
published scientific articles
equipped with rotating sails Vitória. In 2022 the electric new agglomerated Intelligence to reduce
154 and air lubrication. locomotive project will also be
tested in the port of São Luis.
iron ore product. fuel consumption
supported R&D projects
Intellectual Capital 62
Innovation

impact on society. Innovation is supported by four location sensors, allowing the monitoring of the
main pillars: Protecting lives, Sustainable mining, position and exposure of professionals to critical
Market differentiation, Learning Journey and Open risks, through the Global Safe Access Program.
For us, innovation is an essential asset for creating Innovation. With this, more than 40 thousand people received
shared value with society and for mitigating the protection barriers against accidents and more
impact of our activities. Innovation at Vale is PROTECTING LIVES than 10 thousand people were effectively enabled
considered one of the levers for achieving our For us, life comes first and there is no productivity to work remotely through Jornada Vale.
purpose. We have a vision where our production without safety. Innovation is a catalyst to transform
is increasingly automated, reducing our people's the way we operate, prioritizing people's health In addition to the growing application of remotely
exposure to risk and increasing the agility and and safety. Life first is a non-negotiable value for operated equipment, we developed applications
productivity of our operations. We will have us. To become the safety reference, we redesigned for robotics and increased the use of autonomous
artificial intelligence solutions supporting all our work to eliminate exposure to risks, adopting equipment in our operations. These technologies
major decisions. We use technology to redesign remote work on a large scale, as well as maintaining allow us to achieve better and safer production
our ways of working, reducing risk scenarios, priority based on "Impacted Lives". levels. The increased productivity of the mine assets
with the goal of becoming a reference in safety also represents a reduction in GHG emissions from
and risk management. We have a complete view In 2021, Vale established the Safety Transformation our operations. We have more than 100 pieces
of the value chain and collaborate with clients to Program to have global governance to maximize of equipment operating in our Self-Employed
create differentiated products and services. Teams the impact of health and safety actions, using Portfolio, removing more than 545 people from risk.
collaborate remotely, creating a more accessible technology and innovation. The Program works We expect a robust expansion of this portfolio in
environment, attracting a more diverse workforce. by scaling protection solutions and ensuring 2022, particularly in the northern system.
We seek to transform people and digitize processes adherence to minimum safety requirements;
through new ways of working, promoting agility, accelerating the implementation of mitigation Also in 2021, we will expand the use of new
collaboration and integration. Renewable energy controls and the adoption of remote operation to technologies in our dam management model. In
drives our business, we will develop and use new remove or reduce risk to people; and ensuring that addition to 24-hour video and radar monitoring,
mining and processing technologies to promote the prioritization of safety technology initiatives we are using satellite images and drones to track
sustainable development by reducing carbon is based on their potential to impact lives. As a the state of conservation and ground displacement
emissions, promoting reforestation and accelerating result, the program has already ensured that more in our structures. See here how Vale's Geotechnical
social and environmental technologies. We innovate than 9,500 sensors have been installed to protect Monitoring Centre works.
to contribute to the sustainable development of our against fatigue, collision and electrical hazards, Storage yard of Serra
Norte, in Parauapebas,
businesses and communities, generating a positive and more than 17,000 people are now using
Pará (PA)
Intellectual Capital 1. Innovation 2. Vale Technology Institute (ITV) 63

SUSTAINABLE MINING
We are committed to fostering sustainable
sails), which enables the use of wind to reduce fuel For us, innovation is an essential asset for
consumption, and air lubrication, which reduces GHG
development. The PowerShift Program is working emissions by minimizing friction on the hull. creating shared value with society and for
in the ecosystem of start-ups and partnerships to
develop and accelerate the maturity of solutions to MARKET DIFFERENTIATION mitigating the impact of our activities.
reduce Scope 1 and 2 emissions in our value chain. We explore opportunities to strengthen the
The program involves, among other things, the industry's production chain, create new products,
use of waste to produce new materials, fostering services, and business models in a co-creative products, we announced the creation of a new Smart Safety, which currently reaches 50%
the circular economy and reducing greenhouse way with our audiences and customers. We are company focused on Green Cement, a type of low of Vale's employees, is a predictive analysis
gas (GHG) emissions. This occurs through the developing new products and strategies to support emission geopolymer cement that will use mining solution based on Artificial Intelligence that
acceleration of low-carbon technologies, bioenergy the energy transition through electrification, waste sand. This company will use state-of-the- calculates the probability of risk events in
and product development that assist our customers improving and expanding our product portfolio in art technology to produce cement with high operational areas. Strategically, this solution
in their emission reduction goals, in addition to base metals. In Ferrous to increase the value ofthe quality, lower cost and significant carbon emission adds an intelligent and dynamic protection
carbon removals via reforestation, protection and company in a sustainable way, we developed a reduction potential. barrier in operations, identifying potential
capture technologies. portfolio of initiatives where the "green briquette" risk areas and acting proactively to take
has a prominent position as a new product with INDUSTRY 4.0 preventive actions. In Base Metals, for
We are part of the communities where we operate low energy intensity and with the potential to In line with the technological trends advocated example, there is now assertive monitoring of
and, therefore, we encourage the generation of reduce our emissions and those of our customers. by Industry 4.0, Artificial Intelligence and Machine actions to be taken to avoid accidents. In the
shared value through our actions in the territories. The briquette is Vale's exclusive technology, the Learning-based algorithms are used in our Southeast Corridor, in Ferrous Minerals, the
We develop technologies to reduce GHG emissions result of several years of technological development operations to predict the behavior of important tool contributed to the decrease of the Total
from our operations, such as, for example, the and already patented in more than 47 countries, process variables. Today 17% of our critical assets are Recordable Injury Frequency Rate (TRIFR) in the
first electric locomotive of its kind and the with three plants already approved and another monitored by Internet of Things (IoT) and Advanced year 2021.
application of biochar in our operations to replace five in the analysis phase. We also offer high Analytics.
the anthracite used in pelletizing. In partnership iron content products, generated through our We use AI to further promote the sustainability
with the ecosystem, we are developing options for new natural humidity processing technology, a At our Artificial Intelligence (AI) Center in of our operations by reducing the fuel
substituting diesel fuel for trucks. sustainable process that eliminates the need for Vitória, Espírito Santo, we develop projects consumption of off-highway trucks, avoiding
dams. In 2021, we informed the market about our involving optimization of asset maintenance and the emission of more than 74,000 tons of
In partnership with the Vale Institute of Technology new bio-carbon pilot plant, a technology capable improvement in the management of processes at CO₂ per year, in line with our goal of reducing
(ITV), we advanced in the maturity of our portfolio of of reducing the use of traditional carbon sources, ore beneficiation and pelletizing plants, as well as direct and indirect emissions by 33% by 2030.
technologies to reduce Scope 3 emissions, through reducing total GHG emissions and enabling the the improvement of environmental, health and We also highlight the use of a platform with
successful tests of new technologies for the ship production of "green" pig iron, using our modular safety and corporate integrity controls. artificial intelligence called PrevisIA to identify
fleet, such as rotorsail (a ship that uses rotating Tecnored plants. Also within our portfolio of new deforestation and fire risk areas in the Amazon,

promoting a strategic preventive action. This LEARNING JOURNEY AND Participants include 24 mining companies, 700 developed solutions to solve real challenges in the
project is the result of a partnership between OPEN INNOVATION startups and 15 major suppliers, with a reach in 22 areas of decarbonization, circular economy, health
the Instituto do Homem e Meio Ambiente da We seek to drive people development and digitize countries. Already, 90 proofs of concept have been and safety.
Amazônia (Imazon), Microsoft and Fundo Vale. processes, through new ways of working that carried out and 20 contracts have been signed
Finally, Artificial Intelligence is also used in our promote agility, collaboration and integration. We between mining companies and start-ups. In 2021 we structured our Corporate Venture
Asset Monitoring Centre (CMA), which seeks to believe that collaboration in an open innovation Capital (CVC) strategy and made our first
expand integration between the Planning and ecosystem, through partnerships with universities, In addition to these initiatives, Vale has also been investment: Boston Metal, owner of a new
Asset Management areas with two purposes, startups, government and other corporations seeking to establish partnerships in projects technology for iron oxide reduction through
enabling decisions: is essential to accelerate innovation initiatives. and initiatives to accelerate the development of electrolysis called Molten Oxide Electrolysis
We have built an innovation network within the solutions and knowledge, in line with its purpose (MOE). Through this investment, we are
• Reduce risk exposure in processes and assets, company that today is connecting nine innovation to be a leader in low-carbon mining. These supporting the development of low GHG emission
through status visibility of critical controls and hubs within our operations in order to address partnerships involve suppliers, research institutes, steelmaking technologies, in line with our
asset health. critical issues on the ground. New partnership operators, technology consortiums, among others, decarbonization commitments and the new pact
models in the form of collabs (collaborative as for example in the "Charge On" challenge held with society.
• Optimize the reliability and performance of projects) are essential to strengthen our open in 2021 for the development of truck battery
assets throughout their life cycle, allowing innovation strategy that can accelerate our systems. In Canada, we are part of the innovation
greater adherence to Operational Plans. learning journey. Vale has advanced in Innovation hub that is focused on supporting early-stage
initiatives, and we recognize that we can learn technology startups and their founders. Vale Learn more
from our own journey. helps by providing access to key resources and About our innovation
connections to the networks they need to start, initiatives.
An example of collaboration with the ecosystem in expand and scale their ventures.
Brazil is MiningHub, an initiative to co-construct
solutions with innovation in the mining industry. In the Mining Innovation for a New Environment
2.0 (MINE) Program, we seek to develop people,
solve strategic problems for Vale and generate
We evolved from 166th position in 2019 to positive impact for society. In this program, Vale,
in collaboration with universities and innovation
12th in 2021 in the "100 Open Startups" institutes, offers participating professionals the
opportunity to build a safer, more sustainable
awards; and from 31st place to 4th in the Valor and efficient future for mining through open
innovation. During the program, participants
Innovation Award in 2021.
Vale Institute of ITV SUSTAINABLE DEVELOPMENT (ITV DS)

ITV DS works in the generation of socio-
videos, podcasts and newsletters.
Technology (ITV) environmental scientific knowledge for the ITV DS has research laboratories with the analytical Ecoshipping
characterization and conservation of the biotic capacity for state-of-the-art techniques such as Vale's project to create the first
ITV is a non-profit institution, maintained by and abiotic environments and their relationship next-generation DNA sequencing, proteomics,
large ore ship equipped with a
Vale that operates through ITV Sustainable with communities in connection with sustainable imaging equipment, and high-capacity computers,
rotating sail system won the
Development, located in Belém (PA), and ITV development goals. The research groups among others.
Mining, located in Ouro Preto and Santa Luzia include: Biodiversity and Ecosystem Services; International Wind Propulsion
(MG), to promote scientific research. Since 2010, Environmental Genomics; Environmental ITV DS is also active in training young researchers Innovation Award in November 2021.
ITV has been developing technological and Technology; Environmental Geology and Water through the Professional Master's in Sustainable
Still in the testing phase, the
scientific solutions to solve the challenges of Resources; Socioeconomics and Sustainability; and Use of Natural Resources in Tropical Regions.
innovative use of wind propulsion
the mining chain in search of a more just and Data Science. More than 120 professionals from all over the
sustainable society. It currently has a group of 281 country had been trained by 2021. On this front,
can offer an efficiency gain of up to
researchers, 224 of whom are fellows. Research is conducted collaboratively with we highlight the research scholarship and project 8% and a consequent reduction of
research institutions and companies in Brazil and subsidies program for young residents in Pará up to 3,400 tons of CO2 equivalent
abroad and shares knowledge with society through whose dissertations in line with one of the United per ship per year. The initial results
scientific publications in open journals, deposits Nations Sustainable Development Goals (SDGs). of the pilot test have already
ITV IN NUMBERS of raw data in open access global databases and
(2011 TO 2021): aroused the interest of partner
scientific communication through documentaries,
shipowners, who are developing
About new projects with rotating sails. It is
estimated that at least 40% of the
USD 209 ITV MINING (ITV MI) fleet dedicated to the company's
million
in the areas of Tribology, Automation, Control
ITV Mining seeks to develop solutions widely & Robotics, Mining, and Extractive Metallurgy & service is able to use the technology,
already invested in research used in the mining chain that prioritize energy Mineral Treatment. which would impact to a reduction
efficiency, safety in the mineral chain processes, of almost 1.5% in annual emissions
747 154 and the reduction of CO2 emissions. An example of a project that benefitted from
the cooperation of ITV is Ecoshipping, created by
from Vale's maritime transport of
Iron Ore. Learn more.
scientific R&D It operates on two fronts: the teaching front, Vale to meet the challenge of reducing its carbon
papers projects which is related to the purpose of contributing to emissions, in line with what has been discussed
published supported
the disseminate knowledge in the company and in within the scope of the International Maritime
society, and the research and development front Organization (IMO).

PHOTO: EMILIANO CAPOZOLI

Giant Fern, at the
Inhotim Institute,
in the city of
Brumadinho, Minas
Gerais state, Brazil,
the largest open-air
museum in the world
Natural
Capital
1. Climate Change
2. Biodiversity
3. Ecoefficiency
4. Mine Closure and Future Use

67
Presentation A Vale
Apresentação Vale VisãoGovernance
Global Governança Corporativa
and Compliance Desempenho
Manufactured e resultados
Capital Capital
Financial Financeiro
Capital Capital
Intellectual Natural
Capital Capital Capital
Natural Humano Capital Capital
Human Intelectual Social
Capital Social
Capital Capital Analysis
Critical ManufaturadoAssurance
Análise críticaGRI Index
Sumário GRI Credits
Créditos
NATURAL CAPITAL GAS EMISSION

REDUCTION TARGETS BY 2030
We recognize that making mining sustainable throughout our operations and value chain involves a conscious
and continuous effort, dialogue, active listening, and the creation and re-enactment of relationships of trust
pa
rt
ni
su
ic
ul
tr
1 million hectares
lp
at
og
hu
e
en
ro
m
ox
at
xi
de
te
id
approximately is the total area protected by Vale
es
s
r
ADDITIONAL AREAS RECOVERED
AND PROTECTED 500 thousand
hectares of areas to be recovered and
in hectares
protected by 2030, of which at least 100
Protected thousand hectares recovered through
Recovered socio-environmental impact businesses
80
70
62,248
60 52,867 -10%
50
40
ENERGY
EFFICIENCY
12 times
larger than the total area
30
20 2030 WATER
-16% -16% CONSUMPTION OF
RENEWABLE ELECTRICITY
occupied by the company's GOAL REACHED
operational units 10 5,125
947 79% 89% 100%
0
2020 2021 Global
99% 100%
83%
Vale has publicly 2017
Brazil
committed not WATER BALANCE REDUCTION OF WATER 2017 2021 2030 target
to operate in In millions of m³ CONSUMPTION
UNESCO Natural GREENHOUSE GAS EMISSIONS
EMISSION REDUCTIONS
World Heritage Discharge after
Withdrawal Use and reuse treatments
Sites
237.1 726.9 18.2 -20%
Scopes 1 and 2
-24% -33%
absolute
emissions
Reuse 2018 2021 2030 target
489.7 81.2% -15%

of water reuse -15%
Scope 3
net
emissions
2017 2021 2018 2021 2035 target
2030 target -5%
Natural Capital 68
Environmental Employee José

All incidents were investigated by a For the socio-environmental programs and plans,
management Marangon in the
seedling nursery
multidisciplinary group and reported to the we have targets and indicators correlated to risk
and Biofactory of
appropriate government agencies. Managing management, prevention and mitigation measures
Given the risks related to environmental Ferrous Technology these topics involves reassessing the drainage for impacts related to water quality, air quality,
Centre in Nova
issues arising from its activities, Vale follows Lima/Minas Gerais
system, deploying inspection routines in the soil quality or condition, community impacts,
international guidelines to manage environmental control systems, conducting engineering biodiversity, and relevant regulatory issues. This
incidents*. These involve initial communication, works and projects, preparatory plans for information supports Vale's analysis and concession
adoption of immediate actions and investigation the rainy season, and training employees. process to help us obtain environmental licenses.
of causes, implementation of corrective actions Proper investigation enables the identification
to eliminate undesired effects of the event and of contributing factors, risk reduction,
recording of lessons learned. inclusion of new environmental controls, and
improvement of industrial processes. GRI 303-2
In 2021, 28 environmental incidents

were classified as severe, compared Country Number of Severe Incidents Environmental Impact
to 16 events registered in 2020,
Change in water quality
according to the company's risk
classification criteria. We advanced Brazil Change or reduction in biodiversity
in 2021, compared with 2020, with
Change in soil quality
respect to critical and very critical
incidents, with no occurrence Change in water quality
in 2021, compared to three
Canada Change in air quality
occurrences in 2020.
Change in soil quality
Indonesia Change in water quality
Learn more
*Environmental Incidents: Unplanned event that resulted in an About the main mitigation
adverse environmental impact. actions for incident-related
impacts.
Natural Capital 1. Climate Change 2. Biodiversity 3. Ecoefficiency 4. Mine Closure and Future Use 69
Climate Change GRI 103-2, 103-3 Commitments

to a Low Carbon
Reducing emissions and making Vale resilient so it has been disclosing information on the Carbon Vale's capital allocation is subject to a shadow Economy
to the effects of climate change are strategic Disclosure Project (CDP) since 2003, in Vale’s ESG carbon price of USD 50/tCO₂e in the valuation GRI 103-2, 103-3 | 302-1, 302-2, 302-3 | 305-1, 305-2, 305-3, 305-4
priorities. We maintain a program to manage Portal, and published its first climate report in 2021. of its projects. We implement carbon pricing in
risks and opportunities related to climate change, the trade-off analysis of projects and during the
aligned with the guidelines of the Task Force on In addition, our annual performance is assessed decision-making process for new investments, Here are the main advances and results.
Climate-Related Financial Disclosures (TCFD). by specialized institutions such as Sustainalytics, with the objective of enabling and accelerating
The topic is addressed by a robust governance Climate Action 100+ and RFC Ambrian, and in 2021 the transition to a Net-zero economy. In addition, TARGET:
structure that includes the Low Carbon Forum, a we received an "A-" rating in CDP's assessment, we use the marginal abatement cost curve (MACC REDUCE SCOPE 1 AND 2 EMISSIONS BY 33%
governance structure that monitor performance which is above average in the mining sector or MAC curve) tool to prioritize investments and BY 2030
and which strives to ensure delivery of the climate average. The points for improvement identified resources in emission reduction initiatives. Our Our target to reduce Scope 1 and 2 emissions, by
agenda, which includes the periodic participation in the table above, such as the adaptation of MAC curve has already mapped initiatives with 2030 is aligned with the Paris Agreement goal
of the Executive Board and Vale’s leadership. strategies and targets to new temperature reduction potential of approximately 10 MtCO2e, to limit global warming to well-below 2°C and
scenarios, definition of intermediate targets, and enough to cover Vale's Scope 1 and 2 emissions is based on 2017 emissions, which totaled 13.5
Vale's decarbonization strategy is public and based inclusion of Scope 3 emission in the 2050 target, reduction target. MtCO₂e1. We built this target based on criteria
on a global policy. Vale understands the importance come from an evaluation and comparison of Vale's for science-based target setting of Science Based
of providing transparency on our roadmap for the performance with market best practices. At the institutional level, Vale participates in the Target initiative (SBTi)2.
delivering emissions reduction and Net-zero targets, main associations and institutions that promote
positioning on climate change mitigation innovations
and policies in line with the broader objectives of the 1
Base year 2017 emissions would total 12.3 million tCO₂e
Paris Agreement. Additionally, we are not involved considering manganese and coal divestments.
We maintain a program to manage with any association whose positioning and actions
diverge from the goals of the Paris Agreement.
2
SBTi - TWG-INF-002 | Version 4.2 April 2021, valid until
June 2022.
risks and opportunities related to

climate change, aligned with the
guidelines of the Task Force on
Climate-Related Financial Disclosures
In 2021, Vale's activities resulted in the emission ENERGY CONSUMPTION MATRIX compared to 2017. The divestments are subject Scope 1 and 2 emission reduction initiatives
BY SOURCE IN 2021
of 505 million tons of CO₂e adding Scopes 1, 2 and to Vale's commitment to a just transition for coal implemented in 2021 contributed to a reduction of
3 together. The direct Scope 1 emissions (fuels, mining workers and communities. See more at approximately 78 thousand tCO₂e and are mainly
industrial processes and other minor sources) Divestments in non-core assets here and here. related to energy efficiency initiatives. Matrix
and indirect Scope 2 market-based emissions
0.1% change technologies in mine, rail and metallurgical
(electricity purchase) totaled 10.2 million tons 0.1% Energy consumption was 146.2 thousand TJ, a processing operations are still in technological
of CO₂e in the period1, an increase of 2% when 0.1% small increase over the previous year, mainly development phase and will have a greater impact
compared to 2020 and reduction of 24% when 4.3% due to the resumption of Iron Ore and Pellet from 2026 onwards. GRI 305-5
compared to 20172. GRI 305-1 e GRI 305-2 production volumes and, more significantly,
7.1% Coal, despite the reduction in Nickel and Copper 1
Vale's Scope 1 and 2 location-based emissions totaled 11.1
Vale's indicator in 2021, of 24.4 kg CO2e/t MFe-eq3, production, mainly as a result of the strike in million tons of CO₂e, an increase of 6% from 2020 and 18%
was about 5% lower than 2017 intensity, of 25.6 kg
CO2e/t MFe-eq4. Although the intensity indicator
29.6% Sudbury. Due to this slight volume recovery and
maintenance of the consumption level, the global
from 2017.
2
Results reported in absolute emissions and do not include any
showed a slight improvement, the reduction seen in 14.8% energy intensity was 0.349 TJ/thousand tons of type of offset.
absolute emissions, of 24% (considering Scope 1 and Iron Ore equivalent, a 1% reduction from that 3
In this indicator, production volumes of Vale's main products,
such as Pellets, Coal, Nickel and Copper, are converted into tons
marked based Scope 2), is mainly due to the drop in verified in 20207. GRI 302-1 and 302-3
of Iron Ore equivalent.
production levels compared to 2017. GRI 305-4 4
2017 indicator recalculated considering VNC and Biopalma
Vale's Energy Efficiency Program, which aims to sales. If we consider Coal and Manganese divestments, Vale's
An increase in production is expected in the short 13.6% drive initiatives that promote a reduction in the indicator in 2021 would total 21.9 kg CO₂e/t MFe-eq, about 9%
term, according to Vale's production and sales 30.3% energy intensity in our production processes, has lower than the 2017 intensity of 24.0 kg CO₂e/t MFe-eq.
report, which may lead to an increase in emissions. set a reduction target of 5% by 2030, compared to
5
According to GHG Protocol methodology, divestments will only
be removed from total emissions in the year of sale, that is, in
In the medium term, a drop in emissions is the 2017 baseline. 2022, implying a recalculation of the emissions of the base year
expected due to the implementation of low-carbon 2017 for Scopes 1 and 2, and base year 2018 for Scope 3.
Electricity
initiatives by the PowerShift program. This work is being developed globally by means 6
If we consider Coal and Manganese divestments, Vale's Scope
Diesel Oil
of multidisciplinary groups in each operation and 1 and 2 location-based emissions would total 9.8 million tons
Natural Gas of CO₂e, an increase of 6% from 2020 and a reduction of 20%
Considering the divestment of manganese Coal and Coke relies on the direct involvement of more than 400 from 2017.
(already completed in early 2022) and coal (sales Other oils people, supported by SmartEnergy, a platform for 7
2020 energy intensity indicator was adjusted from 0.362
agreement) assets, which will entail a revision of Renewable fuels managing energy consumption inputs throughout to 0.352 TJ/thousand tons of Iron Ore equivalent, due to the
the baselines for the commitments undertaken5, Shipping Oils the company. revision of the iron ore equivalent production value used in the
calculation. This change does not generate significant impact.
Vale's 2021 Scope 1 and 2 market-based emissions Other gases GRI 102-48
totaled 9.0 million tons of CO₂e6, an increase Other liquid fuels
of 2% compared to 2020 and reduction of 27%
In 2021, Vale announced investments of USD 4

SCOPE 1 AND 2 GHG EMISSIONS (MILLION tCO₂e) GHG EMISSIONS (SCOPES 1 AND 2) BY SOURCE IN 2021
Scope 1 + Scope 2 market based
to 6 billion by 2030 to reduce its Scope 1 and 2 without Coal and Manganese
4% 3%
emissions. Reduction initiatives are prioritized 16 Coal and Manganese²
by the company according to its emission 14 2.1 Other divested units
abatement curve for 2030, which is public and 12
1.2
13.5
Total with Coal and Managese 6%
can be accessed in the Climate Change Report. 12.3 0.5
10 10.0 10.2
About 75% of the abatement curve initiatives, 1.2 1.2
consolidated in reduction potential by type of
project graph showed positive NPV1, at a shadow
8
9.0
33%
6 8.8
price of USD 50/tCO₂e. 4
2
It is important to emphasize that the adoption
of the best technologies for each asset is under 0
constant reassessment, due to factors such as 2017 (base year) 2020 2021 24%
technological maturity, costs of clean fuels or
equipment and technical feasibility due to local
operational characteristics. Therefore, the total REDUCTION POTENTIAL BY TYPE OF PROJECT
Mobile combustion
reduction potential in the MAC curve could not be 6% 100% Stationary combustion
12%
completely fulfilled. Industrial process
53% 30% Fugitive
Purchase of electricity
Land use
18%
11%
Biodiesel and Scope 2 Bioenergy Electrification3 Natural gas Total

In 2021, Vale announced
investments of up to USD 6 billion
efficiency and others4 Potential
¹ Base date of June 2021. The values consider assumptions for The graph above represents 2030 total emission reduction potential represented in the MAC
low-maturity technologies, which bring uncertainty. curve of June 2021.
by 2030 to reduce
² The results consider the Nacala Corridor. 3
Electrical equipment, belts, trolley, green hydrogen and hybrid solutions on the railroad.
4
Includes new processes. its Scope 1 and 2 emissions.
TARGET: VALE'S 2050 NET ZERO STRATEGY: WHAT IT MEANS TO BE NET ZERO
PowerShift – Vale NET ZERO SCOPE 1 AND 2 EMISSIONS BY 2050
As mining is considered a hard-to-abate sector,
Decarbonization Program
In the context of the • Providing a second zero-
any residual emissions from the company may
be subject to neutralization using Nature-based
Solutions (NBSs) with socio-environmental
Emission
Reduction
+ = ZERO
EMISSIONS
(Carbon Neutral)
decarbonization program emission locomotive, for benefits, and qualified carbon credits with Remaining Offsets
Emissions
in 2021, we conducted a operations at the port of high credibility, aligned with international best Emissions Forests
+
number of tests in our São Luís, using new battery practices. Powershift
Carbon
Markets
operations, particularly the technology.
use of bio-oil, vegetable • Introducing battery-
charcoal (biocarbon) powered trucks in Brazil and TARGET: to our climate change commitment to reduce GHG
and additives to reduce Indonesia. 100% RENEWABLE ELECTRICITY IN BRAZIL emissions.
energy consumption (2025) AND GLOBALLY (2030)
in pelletizing plants. In • Implementing the trolley-
In 2021, electricity represented 29.6% of Vale's energy Initiatives for advances in renewable energy
addition, we successfully assist system in Carajás, consumption matrix, with 89% coming from renewable The Sol do Cerrado Project stands out among the
operated a battery significantly reducing diesel sources. In Brazil, this percentage is even higher, 99% initiatives on this front for generating solar energy
powered locomotive in the consumption in off-road come from renewable sources, with 96%1 guaranteed in the municipality of Jaíba (MG), in Brazil. With an
Tubarão Port in Vitória, an trucks and enabling the by concession contracts for own assets, as well as by installed capacity of 766 megawatts-peak, the project
possible implementation of Vale's energy acquisition contracts. This contracted will produce a mean capacity of approximately 193
unprecedented piece of renewable energy was attested through certificates or megawatts of energy per year for Vale's operations,
equipment among large battery-powered trucks.
declarations from generators, having been audited by a corresponding to 13% of our demand for 2025.
mining companies. 5% of • Continuing of biocarbon third party. Scheduled to come online in late 2022, the solar project
the underground vehicle tests in Pelletizing. will be one of the largest in Latin America.
1
90% from hydro and 10%
fleet in Canada's operations Vale's electricity self-generation portfolio is 99% from wind.
• Using a battery-powered
are already electric vehicles. renewable. The installed capacity in 2021 was 2.3 GW, In addition to investing in generation, Vale entered into 2
Historical averages of
electric locomotive to related to hydroelectric and wind power generation agreements in 2021 to use energy storage batteries the percentages of self-
For the year 2022, we transport Iron Ore on the assets, directly and indirectly owned, located in Brazil, in its operations at the Ilha da Guaíba Terminal and
production globally and in
Brazil since 2017. In the year
highlight: Vitória-Minas Railroad. Canada, and Indonesia. These plants supply an average in Sudbury, Canada, thus helping to ensure greater 2021, these percentages
represented about 62% and
of 59% of Vale's global electricity consumption and competitiveness and security of energy supply to 72% respectively.
69% of Vale’s consumption in Brazil2, and contribute these operations.
TARGET: REDUCE SCOPE 3 NET EMISSIONS Upstream, on the other hand, emissions are compared to 2020, and a reduction of 15% 1
Maximum 20%.
BY 15% BY 2035 associated with suppliers of raw materials, compared to the 20182 base year emissions. 2
2018 base year emissions of 585 million tons of CO₂e are
reduced to 568 million CO₂e, considering the divestment
Our company's challenge is the reduction of products, and services, as well as their The variation is mainly due to changes in the of manganese and coal assets, realized in 2022.
emissions in its chain – Scope 3, since 98% of Vale's transportation, and totalled about 3% of Scope 3 sales volume of our products. Considering the 3
An increase in Vale's Scope 3 emissions is expected as
total emissions occur in the value chain. Therefore, emissions in 2021. divestment of manganese and coal assets, a result of increased sales volumes due to a prospect of
increased demand for our products, as indicated in the
we were pioneers among mining companies in Vale's Scope 3 emissions in 2021 would total 480 2021 financial report.
establishing a Scope 3 quantitative emissions Scope 3 emissions totaled 495 million tons of million tCO₂e, an 2% increase from 2020 and an
reduction target based on SBTi criteria. Vale has CO₂e in 2021, representing an increase of 3% 16% reduction from 20183. GRI 305-3
made the attainment of this target more flexible
with the possibility of limited1 use of offsets of
high-quality carbon credits, for two main reasons:
(I) challenge to reduce emissions at customers; (II)
Scope 3 emission reduction initiatives
to foster the voluntary carbon market. Scope 3 emissions Scope 1 and 2 Scope 3 emissions
Upstream emissions Downstream
About 97% of Vale's Scope 3 emissions are
Higher quality products
downstream in its value chain, mainly in Fomenting suppliers’
Vale’s own operations
Shipping of Vale’s products
and innovative solutions
Partnerships to test
emission reduction to its global clients innovative solutions in
steelmaking, from processing, transportation to lower client’s
steelmaking
emissions
and the use of products sold by the company.
• Supplier engagement via CDP Power Shift Program: Ecoshipping Program: • Improvement in our high- •E
ngaged clients represent
approximately 30% of
In 2021 Scope 3 emissions
Supply Chain, with provision in quality portfolio
• 2021 pilots are part of •2
pilots implemented in 2021 global steel production and
contractual clause
technologies roadmap with •N
ew technologies, such as about 40% of Vale's Scope 3
•R
otor Sails potential
totaled 495 million tons • 375 suppliers engaged in 2021 estimated potential to reduce
more than 3 MtCO₂e /year by
2030
reduction of up to 3,400 tCO₂e
per ship per year.
iron ore "green briquettes"
and dry concentration
technology
emissions
•E
lectromettalurgical
of CO₂e, representing an • 36% of the Sol do Cerrado Solar

Project implemented in 2021.
•A
ir Lubrication potential
reduction of up to 5,600 tCO₂e
•T
ecnored technology, which
can produce a “green”
Company1 investment
increase of 3% compared Operations start in 2022 and the

project will reduce 145 ktCO₂e
per ship per year
low-cost pig iron, using
biocarbon instead of coal
to 2020, and a reduction per year from Scope 2

•B
iomass to replace coal
of 15% compared to the 4

Boston Metal is a pre-operating company, founded in 2012 by professors from the Massachusetts Institute of Technology (MIT), whose objective is the development of an innovative technology called molten oxide
2018 base year emissions electrolysis (MOE), which reduces metallic oxides such as Iron Ore with the use of electricity. This MOE process will enable the transformation of Iron Ore for steel production with zero CO₂ emissions.
We recognize that reducing emissions in new low-carbon products, such as the "green
"Green
briquettes" our chain will only be possible through solid briquette" (see the box below). In total, engaged
partnerships, which is why we signed a clients represent approximately 30% of global
Memorandum of Understanding (MoU) with steel production and about 40% of Vale’s Scope 3
relevant steelmaking customers to develop emissions.
joint solutions to decarbonize and test
Low-carbon products
Vale already has low-carbon products in its binder solution, which contains sand from
portfolio, such as "green briquettes", a new treated mining tailings and can withstand
agglomerated Iron Ore product, and low- high blast-furnace temperatures without
carbon Nickel products produced in Long disintegrating.
Harbour, Canada. The "green briquette" has the potential to
Long Harbour's Nickel products, Plating reduce greenhouse gas (GHG) emissions
Rounds and Casting Nickel Wheels have in steel production by up to 10% for Vale’s
a carbon footprint of 4.4 tons of CO₂ steel customers. The GHG reduction occurs
equivalent per ton of Nickel, about three because the product allows the steelmaker
times lower than the global average to reduce their dependence on sintering, a
intensity reported by the Nickel Institute process prior to steelmaking in which fine
for Class I nickel. Iron Ore is agglomerated (sinter feed).
The "green briquette" on the other hand,
was a new product we developed internally
by the company over almost 20 years and Learn more
launched to the market in 2021. It is formed Vale's Climate Change
2021 Report
by using Iron Ore and a technological
PHOTO: VALDIRENE RESENDE
Among signed MoUs, we can highlight those signed Climate-related risks

with Ternium in Brazil, with the Chinese company,
Baowu and with the Korean company, POSCO,
and opportunities
which scopes seek decarbonization solutions in
steel production that include our product portfolio, We have adopted the Task Force on Climate-related Financial Disclosures
high quality Iron Ore, "green briquettes" metallic, (TCFD) guidelines to manage the impacts of our transition to a low-carbon
alternative steel production routes, among others. economy, and the physical impacts of climate change on our operations. Also,
in 2020 Vale conducted a climate scenario analysis of its portfolio based on the
Through our Ecoshipping program, Vale is also International Energy Agency (IEA) scenarios and plans to structure an analysis
investing in several R&D initiatives, in partnership for a 1.5 °C rise scenario in 2022.
with external research institutions, to map and test
new technologies capable of reducing emissions in MAIN RISKS AND OPPORTUNITIES MAPPED
maritime transport. In 2021, we developed pilots
to test innovative technologies aimed at reducing TRANSITION PHYSICAL CLIMATE-RELATED
RISKS RISKS OPPORTUNITIES
the intensity of emissions, such as rotary sails, air
lubrication, and hull cleaning with robots. See more •C
hanges in public policies •C
hronic risks, such • Use of lower
about this initiative in Innovation. to restrict emissions, in- as rising average emission energy
cluding carbon taxation temperatures, sources, with
rising sea level, and potential cost
In relation to our Upstream emissions chain, via •C
limate-related litigation
changes in rainfall reductions
the CDP Supply Chain Program, approximately with impacts on the
patterns
company's image • Diversification
500 suppliers were selected to participate in the
•A
cute risks, such as into higher
program in 2021, with 75% adherence (375 suppliers) •C
hanges in demand,
extreme weather quality, lower
favoring low-carbon
and 91% adherence of the 2020 respondents invited and sea conditions carbon products
products
for the second year (221 suppliers). 22% of the and services
•P
roduct substitution due
suppliers were classified as leaders or with good
to new technologies and
management in the theme (CDP score A and B), processes
with 63% evaluated as having low level of maturity.
We identified a total of 288 opportunities with Vale Natural
substantial strategic or financial impact, as well as Reserve, capuchin
monkey (Sapajus Learn more
emission reduction partnership opportunities with apella), Linhares, Access the description of risks and opportunities, as
several suppliers. Espírito Santo State well as Vale's management actions for each, in the
Climate Change 2021 Report.
Biodiversity Operations that generate significant impacts our initiatives related to risk management and
GRI 103-2, 103-3 in areas of high value for biodiversity require
management programs, which we are
impacts on sensitive habitats and species in Vale's
operations and projects in the region.
Biodiversity
Vale prioritizes risk analysis and adopts measures
intended to prevent, mitigate, recover, and
implementing and improving either through
legal obligations or voluntary commitments. In 2021, we recorded 5,442 species as occurring
management in
compensate these impacts. In 2021, the area Among the 61 operational units evaluated in habitats impacted by Vale's operations or the value chain
impacted by our operations totaled 814.57 sq km. in 2021, 54 (88.5%) required the preparation located near its operations, of which 2,968 were
Vale understands the challenge of
New suppressed areas totaled 10.13 sq km and areas of management programs. (GRI G4 MM2). For fauna and 2,471 flora. Of these, 135 fall within the
integrating biodiversity management
of permanent recovery totaled 18.2 sq km. (GRI these units, 51 programs have already been International Union for Conservation of Nature
304-1, 304-3 | G4 MM1). Part of our operations, due to implemented, seven are being prepared and (IUCN) threats classification scheme. GRI 304-4
into the value chain. Therefore,
the locational rigidity of the business, overlap and one is a future proposal, and some of the it has addressed initiatives to
interface with areas of high value for biodiversity, units contemplate more than one project and, help support the supply chain
such as hotspots and key biodiversity areas, and therefore, have more than one associated and commercial areas to adopt
approximately 30% interfere with protected areas. program. environmental requirements,
We remain committed to further reducing our Learn more which include biodiversity, in
impacts, as well as restoring and compensating the The Carajás Biodiversity Management Plan About Carajás Biodiversity engaging with customers and
areas and habitats we affect, in line with our long- (PGBio Carajás), published in 2021, is a dynamic Management Plan.
suppliers. For example, customers
term goal of neutralizing impacts on biodiversity in document that integrates and consolidates all
new projects. that consume forest-based raw
Protected materials are required to provide

documents attesting to their socio-
Our operations work to recover degraded areas by restoring forest and recovering areas GRI 304-3 environmental compliance in their
habitats and important ecosystem services. By 2021, more than 5,000 hectares
production process supply chain. As
have been recovered in rural properties mostly located south of the Carajás
next steps, the company intends to
National Forest within the Connectivity Project – Northern System Forest We currently protect or help protect an area
establish a more robust evaluation
Corridor. This project goes beyond fulfilling legal requirements, aiming to increase of approximately 10,000 sq km, equivalent to
12 times the area occupied by our operations.
with an inspection routine, also
the forest cover in areas previously occupied by agricultural activities and to seeking to evaluate issues involving
As a result of this work, developed through an
promote connection in the landscape. In addition, we are fostering partnerships integrated management of the territories and illegal deforestation in the value
with a local cooperative to buy seeds of native species, generating alternatives for partnerships, it is also highlighted the protection chain and other concerns.
the sustainable use of the forest. of native fauna and flora species, including
endemic and endangered species.
Vale's 2030
forestry commitment Belterra: Socio-
environmental
RECOVERY OF 100,000 HECTARES impact and recovery
OF FORESTS
The Vale Fund supported the development of
of degraded areas
five agroforestry businesses that implemented
productive recovery models on 5,125 hectares in
Incubated as part of Vale's 2030 Forestry
Commitment and supported by the Vale Fund, “With the support of
Acceleration Program
a pilot phase, adding up to an area of more than Belterra Agroflorestas was born with vision of Belterra Agroflorestas, we At the end of 2021, the Vale Fund joined its
6,000 hectares between 2020 and 2021. were able to diversify our partners to start an Acceleration Program
being a company that would achieve a social and
production. We started
environmental impact in rural areas by restoring with the purpose of being a catalyst for
The startups Belterra, Caaporã, Bioenergia, planting cocoa and
degraded areas throughout Brazil. increased the productive businesses that operate in sustainable value
Inocas, and Regenera develop businesses related
to the cocoa, cassava, açaí, baru, banana, efficiency here at Recanto chains linked to Vale's forest recovery goals.
The business model that sustains the company's
and pupunha chains, among others, in seven das Águas Farm. The
operations is based on deploying of regenerative The expectation is to help companies
project was so successful
Brazilian states and in four different biomes move toward economic sustainability
production systems, such as the Agroforestry and that it encouraged my
(Caatinga, Atlantic Forest, Cerrado, and the
Agro-silvopastoral systems, on small and medium- daughter, who is a dentist, while scaling their field operations to meet
Amazon), generating jobs and income for family
sized properties, through leasing and/or rural to take over the cocoa recovery commitments. To achieve this goal,
agriculture. We have earmarked investments of production, ensuring
approximately USD 10.21 million to structure and partnership agreements. entrepreneurs receive support and guidance
that we will have another
leverage the business. to develop, plan, and execute short,
In its second year of operation, Belterra has raised generation at the head of
our family property”. medium, and long-term strategies.
investments with a European climate fund and is
in advanced stages of negotiation with a Brazilian Ademir de Paulo Dan, Mr. The Program also helps to strengthen a
Juca, from Parauapebas
investment fund for a new round of expansion Sustainable Impact Business Ecosystem
(PA)
in the coming years. In addition, it is negotiating supported by partner institutions with
supply contracts with large companies in the specific and transversal skills to help
cocoa and cassava chain. entrepreneurs along their journey.
PROTECTION OF 400,000 HECTARES Building a legacy for the Amazon

OF FORESTS Environmental
To protect forests, we formed partnerships in 2021
with three Conservation Units managed by the
More than 80% of the protected areas Vale
owns and supports are located in the Amazon,
Through the Vale Institute of Technology, the
company has been investing around USD 220.8
genomics of the
Chico Mendes Institute for Biodiversity Conservation where the company has promoted biodiversity million in research in science and technology Amazon
(ICMBio in Portuguese). Together, these Biological conservation initiatives for more than 30 years. In since 2011. Of this amount, approximately USD
Reserves (REBio) help to protect more than 62,000 the last decade, through the Vale Fund, we have 114 million has been applied to research for In 2021, the Vale Sustainable Development
hectares of Atlantic Forest in three Brazilian states. supported more than 90 initiatives by research sustainable development, mainly in the areas Technology Institute began genetic studies
institutions, governments, NGOs and startups to of biodiversity, environmental genomics, and to learn about the DNA of the Amazon. The
In addition, we continue to work to protect and protect forests. climate change. Amazon DNA project aims to help identify
conserve the units covered by agreements we signed fauna and flora species and to support the
in 2020, which involve 52,848 hectares, adding up to
challenges of biodiversity conservation
an area of 115,093.96 hectares already protected in
through environmental monitoring.
two years.
Another biotechnology application is
investigating species via DNA sequencing with
economic purposes to generate income for
Artificial intelligence in the fight against deforestation families and native peoples by improving their
cultivation.
In 2021, the Vale Fund and Microsoft infrastructure, official and unofficial roads, The Amazon DNA project has also as partnered
supported the Institute of Man and and socioeconomic data, among others, to with the Federal University of Pará, The
Environment of the Amazon (Imazon) identify forest conversion trends through Rockefeller University, Dresden University Of
in developing PrevisIA, a platform that deforestation. Technology, Museu Paraense Emilio Goeldi,
uses artificial intelligence (AI) in an aim This public information is available University of Copenhagen, PUC RS, Federal
to anticipate information about Amazon here, and its analyses have been used University of Minas Gerais, and the Brazilian
regions at risk of deforestation and fires. strategically by public agencies to plan Learn more Association of Zoos and Aquariums.
About our initiatives in
PrevisIA analyzes diverse data such and execute preventive actions to combat the Amazon.
as topography, land cover, urban and control deforestation.
Learn more
About this initiative.
Commitments to biodiversity Ecoefficiency 2030 WATER TARGET

protection initiatives GRI 102-12, 102-13 GRI 103-2, 103-3 Aiming to promote water security in the regions
where we are present – that is, to ensure water
The initiatives to protect and restore natural In 2021, Vale made a public commitment not to
Water resources is available in sufficient quantity and quality for
human supply, economic activities and aquatic
environments, maintain essential ecosystem operate in UNESCO Natural World Heritage Sites. Vale’s main uses of water are ore beneficiation, ecosystem conservation – in 2018 we established
services, and reduce threats to species are aligned The Vale Natural Reserve (RNV in Portuguese), machines and parts cleaning, environmental the Water Target. Our commitment was to reduce
with the commitments and targets set by the a protected area owned by the company that controls, sanitation and human consumption. Our by 10% the withdrawal of fresh water for use in
Convention on Biological Diversity (CBD). is dedicated to the conservation of 23,000 effluents, on the other hand, come from industrial our production processes by 2030 compared to
ha of Atlantic Forest remnants, as well as uses, drainage, and human consumption and are 2017 as the base year.
As an ICMM member, Vale is committed to the the Sooretama Biological Reserve (REBio), a reused in the company's processes whenever
principles established by the Council and to protected area that Vale protects in partnership feasible. To achieve this goal, we invested in (a) expanding
Performance Expectation 7, which is a call to with ICMBio, are part of the Discovery Coast our water monitoring network, (b) initiatives
respect areas of high value to biodiversity and Atlantic Forest Reserves World Heritage Site. Aware of the risks associated with water scarcity, to reuse effluents in the company's processes,
implement and enforce an impact mitigation They also constitute a Key Area for Biodiversity and in line with the guidelines of the International (c) using rainwater, (d) searching for new
hierarchy, seeking to neutralize significant Conservation. Council on Mining and Metals (ICMM), Vale has a technologies, and (e) developing studies to
biodiversity losses. Water and Water Resources Policy with guidelines continuously improve our responsible water
Additionally, since 2020 Vale has been part of the for responsibly and rationally managing water resource management.
Brazilian Business Commitment to Biodiversity, resources and effluents.
proposed by the Brazilian Business Council In 2021 our global result accumulated since the
for Sustainable Development (CEBDS) and the WATER STRESS ASSESSMENTS base year was a 20% reduction, which exceeded
Business for Nature Call for Action, a union of To assess water stress in the areas where it our initial goal set for 2030 (a 10% reduction).
In 2021, Vale made a companies and institutions seeking to reduce operates, Vale uses the Aqueduct tool, developed Highlights were our operations in the Amazon
public commitment biodiversity loss. In 2021, Vale also joined yet by the World Resources Institute (WRI). Applied region and part of the operations in southeastern
another transparency tool for its biodiversity in 43 units, the tool provides an overview of the Brazil, which achieved an accumulated reduction
not to operate in results – responding to CDP Forest, formely

known as the Carbon Disclosure Project and its call
region’s most susceptible to river and coastal
floods, as well as the severity of droughts and
of 47%. GRI 303-1
UNESCO Natural to disclose our environmental impact. seasonal and inter-annual water variability and
scarcity that can be expected. This helps the
As a guideline of our Water and Water Resources
Policy, when we reach our goal, we must define
World Heritage Sites Learn more about initiatives and results in Vale's company to correlate our water use with the new goals. Thus, new targets based on responsible
2021 Biodiversity report. indicated degrees of risk. water resources management and effluents will be
published in 2022.
Atmospheric emissions PARTICULATE MATTER EMISSIONS GRI 305-7

in thousands of tons
– particulate matter, NOx and SOx Nickel Pelletizing Manganese
Reduce by
9.1 9.1
Given the impacts of atmospheric emissions and
with our ambition to be a leader in sustainable
mining, Vale established the following targets in
Sulfur oxides emissions for 2021 were 77.1 tons. The
most significant reductions occurred in Sudbury
and PTVI, due to lower production. In addition,
16%
the Particulate
8.1
2.4
0.6
2.1
0.4
1.6
0.1
2021 to reduce its particulate matter (PM), sulfur there were reductions due to the mass balance, a
Matter emissions 6.6 4.9
5.1 0.1
oxide (SOx) and nitrogen oxide (NOx) emissions by calculation methodology used in these units that is 1.4
2030, compared to 2018* as the base year. subject to variations in the characteristics of inputs
and processes. In Pelletizing, the main reductions 3.3
In this context, Vale invested about USD 80 occurred in Tubarão and São Luís, due to the use 7.3
Reduce by
million in 2021 in operational improvements and of fuels with lower sulfur content and improved
adopted new technologies to control and manage
atmospheric emissions. Other initiatives and
projects are planned to reduce NOx, SOx and
energy efficiency.
16%
the Sulfur Oxides SOx EMISSIONS
2018 2019
GRI 305-7
2020 2021
PM by 2030, such as the use of alternative fuels, in thousands of tons

emissions
specific technologies and improved operational
Logistics Fertilizers Pelletizing
efficiency. There was an adjustment of the
emissions data at the PT Vale Indonesia (PTVI) unit
170.7 Nickel Other Business
1.4
to make it compatible with the method reported 132.5
to the local environmental agency. These changes
led to higher emissions of SOx and NOx in 2019 and Learn More Reduce by
99.1 0.9
10% 86.31.5
2020, as shown in the following graphs. About emissions of particulate
matter in Vitória.
90.2 77.1
In 2021, particulate matter emissions were 47% 71.0 1.2
*After the Brumadinho accident in 2019, there was a reduction in 66.1
lower, due to reduced production at the PTVI plant
production due to the shutdown of some operations, consequently
the Nitrogen
and at the Tubarão pelletizing plants, as well as the generating a reduction in emissions in this year and subsequent Oxides emissions
years. After the gradual resumption of operations and new projects 28.6
shutdown period at Sudbury.
to increase production until 2030, a proportional increase in the 2.5 5.8 2.3 11.4 0.5 7.5 2.0 7.8
emissions curve is expected. With the planned initiatives, we project
reductions in NOx, SOx and PM emissions. 2018 2019 2020 2021
NOx EMISSIONS GRI 305-7

in thousands of tons
Mine Closure and Future Use GRI 103-2, 103-3
PHOTO: VALE ARCHIVE

Other Business Nickel Logistics
The process of planning for the closure of assets
Pelletizing Iron Ore Águas Claras Mine
should occur in parallel to the operation, minimizing Nova Lima, Minas
risks and maximizing opportunities to generate value Gerais
81.9 for the territories. The possibilities of post-mining

use must contemplate a vision of the territory that
6.8
integrates constraints and opportunities. We have
the great challenge of structuring the governance of
35.0
these processes and building, together with society,
proposals for the future use and transition of mined
territories that is compatible with the environmental
47.2 50.2 and socioeconomic vocations of the affected areas.
0.5 3.0
38.7 14.1 17.0
For iron ore operations, co-creation for the future
22.4 1.6
11.5 use of mined territories is supported by integrated
database management, which allows us to analyze
16.5 18.3
and prioritize the progressive closure of our assets
11.8
while also integrating a plan for operations and
10.2 identifying the regional aptitudes that form the basis
15.2
10.7 for advancing the future use assessments.
10.5
7.5
3.2 0.9 1.4
2018 2019 2020 2021

Currently, we work with an annual cycle to plan and
execute the progressive closure of assets and study Among the projects for future use
our territories’ aptitudes and potentialities. Among
the projects for future use in progress, we can
in progress, we can highlight the
Emissions of oxides of nitrogen, meanwhile, totaled 50.2 thousand tons. This
reduction reflects the lower production at PTVI and Sudbury, while there was
highlight the Águas Claras Mine (MAC in portuguese)
and parts of the territory of the Itabira Complex, both
Águas Claras Mine (MAC) and
also an increase in emissions at the Oman pelletizing units, Nickel at Onça Puma in Minas Gerais, Brazil. parts of the territory
and the Logistics and Iron Ore businesses, due to the higher production volumes.
of the Itabira Complex
FUTURE USE OF THE ÁGUAS CLARAS MINE FUTURE USE OF MINES IN ITABIRA sustainability. Among the opportunities, according PROVISION FOR ASSET
Located between Nova Lima and Belo Horizonte, Itabira is the city where Vale was born in 1942. to compatibility and use restrictions, we identified DECOMMISSIONING AND MINE CLOSURE
in the Serra do Curral region, the Águas Claras Today, we are looking for ways to continue renewable energy generation as a possible way to GRI G4 MM10
Mine was shut down in 2002, after 30 years of operations there while beginning the closure re-signify the territory in the feasibility stage of We prepare and review, on an annual basis, a
operation by MBR, and is currently undergoing process in a responsible, sustainable and gradual our future use approach. cost estimate for decommissioning assets (pits,
closure and decharacterization works. manner. Through projects to explore future use piles, dams, industrial facilities, etc.). To prepare
we are transitioning to post-mining activities. In 2021, Vale and the Itabira City Hall established this estimate we follows the Asset Retirement
The surrounding area contains condominiums Our objective is to rely on the community’s active a group to plan, prioritize and integrate the Obligation (ARO) methodology, provide full
and clusters of residential neighbourhoods with participation and meet the aspirations of Itabira company’s activities in the municipality. The disclosure in our financial statements, and comply
strong commercial intensity alongside rural areas society. company provided the services of a specialized with the requirements defined by International
and environmental preservation areas, so water consultancy to build a short, medium and Accounting Standard (IAS) 37 and the Securities
is important in the region. Therefore, the closure In the initial stage, we sought to evaluate the long-term strategy to direct the municipality’s and Exchange Commission (SEC) and the
process represents a complex and multifaceted potential and restrictions of future use, primarily sustainable development. Actions are underway to Sarbanes-Oxley Act. In the 2021 cycle, 100% of our
reality that requires the involvement of various in an area in the Pontal/Doze basin, surrounded link the sustainable development initiatives with operations* had Closure Plans and made provisions
players and interests. by urban and rural areas. During the knowledge the municipality’s expected future perspectives in totalling approximately USD 4.2 billion.
gathering stage, we identified several natural terms of mining dependency.
In 2020, we started to plan the future use of interferences and socio-economic pressures in the Among the ESG gaps we identified is "Disclose
the enterprise. At that time, we consulted the surrounding area, among them urban expansion information on mine closure planning, including
local community to identify potentialities and vectors, the presence of vulnerable communities, community engagement process", with a
restrictions for future occupation and society's protected forest fragments, as well as areas of deadline for completion in 2022. See more here.
expectations regarding the area, by means of interest and socio-cultural importance, which we
a perception study. The result pointed to the compiled in an integrated territorial base.
100%
valorization of the region's natural capital to
of our
drive the future use process, as it has potential In 2020 we carried out a survey to understand
in the social spheres of ecotourism, leisure, the relationship between the community and the operations* have
environmental conservation / education, real conservation areas – natural capital assets – that Closure Plans
estate ventures and public services. With this are currently under our responsibility. Based on
guiding strategy, the next steps will involve this research, we mapped initiatives with the
feasibility studies and continued engagement in potential to reconcile environmental conservation,
*Considers mapped operations as applicable to those that have been identified through internal controls
implementing the mapped actions. the creation of shared value and financial for the preparation of the Closure Plan.

In the photo (left to
right), Dayanne Priscila
Silva, Vera Araujo,
Amanda Francisca Tenario
de Almeida and Luciana
Silveira
In the background:
Learning together
Human
Capital 1. Occupational Health and Safety
2. Covid-19
3. People
4. Diversity, Equity and Inclusion

84
72.266
Employees
HUMAN CAPITAL GOALS> Increase Increase the representation of Reach Reduce the number of agent Zero the number of
40%
the representation women in senior leadership exposures harmful to health high-potential
We aim to strengthen a of women in the by 2025 (executive manager in the work environment by recordable injuries
culture of promoting and workforce until 2025 to positions and above) for 2025 in (fatality precursors)
50%
of the representativeness
26% 20%
valuing an inclusive and safe by 2025
of black and brown people
environment for all in leadership position
(coordinators and above)
in Brazil by 2026
DIVERSITY
WOMEN BLACK
IN TOP AND BROWN SEXUAL PEOPLE
WOMEN LEADERSHIP RACE ORIENTATION WITH DISABILITIES 141.147
Contractors
18.7% 20.3% 64% in Brazil

3.6%
gay, lesbian, bisexual
5.3% in Brazil
and others in Brazil
EMPLOYEE TURNOVER
OCCUPATIONAL HEALTH AND SAFETY In %
REDUCE THE NUMBER
OF EXPOSURES ABOVE Women
HIGH-POTENTIAL FATALITIES THE OCCUPATIONAL 20
19.7 Men
RECORDABLE INJURIES (OWN AND CONTRACTORS) TOTAL ACCIDENT RATE EXPOSURE LIMIT (OEL) General
EMPLOYEES AND CONTRACTORS WORKFORCE

3,5 3.48 Exposures
60 250
242
57 25
Target
23
3,0
20.7
200
44 20
15
17.9 17
40
15.6 14.5
150 2,5
15 15 13.7
29 12.4 12.1
11.5 10.7
100
2,0 1.98
10
10
20 8.7 8.2
9.3
50 1,5 1.41 5 8.2
7.0
4 2
0 1,0 0
0 5
2019 2020 2021 2019 2020 2021 19 20 21 22 23 24 25 2019 2020 2021
2019 2020 2021 20 20 20 20 20 20 20
Human Capital 85
Occupational Health and Safety

GRI 103-2, 103-3 | 403
FATALITIES IN 2021
In April, during a maintenance outage at Ship loader
01 in Sepetiba Bay Port Company Terminal (CPBS in
Portuguese) in Rio de Janeiro, Brazil – an electrician
Vale's health and safety strategy is based on Accidents and fatalities who was a Vale employee fell from a height of
three pillars: preventing injuries and chronic GRI 403-9 approximately 18 meters upon finishing a repair
diseases; preventing fatalities; preventing and after releasing the equipment. The employee
catastrophic accidents. In 2021, there were two fatalities at Vale. These succumbed to his injuries and died in hospital.
events show that there is still a lot to be done
As part of a broad governance review, we to honour our commitment to achieve zero In June, at the Moatize Mine in Tete,
implemented the Safety and Operational fatal accidents. Mozambique, an employee of a contracted
Excellence Executive Board in 2019, which acts as company was performing an operation on the
the second line of defense in managing safety and One of the fatalities involved a company employee 220 kV power transmission line when he came
risks contemplated in our management model, (in Itaguaí, Rio de Janeiro) and the other involved a into contact with high-voltage electricity. Rescue
the Vale's integrated management system (VPS). contractor in Moatize, Mozambique. efforts were unsuccessful, and he died.
The Office also establishes policies and technical
guidelines with the aim to ensure occupational Below is the evolution of fatalities at Vale since Both occurrences underwent an investigation
health and safety aligned with ISO 45001 2018, followed by a brief description of the process. It was conducted by internal investigation
(Occupational Health and Safety Management occurrences in 2021: teams, led by an executive in a neutral and
System) standards. impartial position from another operation, and
involved global subject matter experts and
As part of a broad Year Contractors Employees Total
employees both directly and through the Internal
Commissions for Accident Prevention (CIPA in
governance review, Portuguese).
2018
in 2019, Safety and 1 1 2
The occurrences were shared via webcasts. Based
Maintenance
Facility, Carajás
Operational Excellence 2019 118 124 242
on the investigations, we defined comprehensive
Mine. Canaã dos
Carajás/Pará
Executive Board was 2020 3 1 4 actions that are now mandatory to prevent similar
accidents in the future and compliance with these
PHOTO: LUCAS LENCI

implemented 2021 1 1 2
actions is required by all of Vale's areas.
Human Capital 1. Occupational Health and Safety 2. Covid-19 3. People 4. Diversity, Equity and Inclusion 86
Main initiatives • Metrics for process accidents: guidelines for • Promoting Healthy Habits (VP GO): Global relation to labour laws, which include not allowing
capturing and investigating process accidents employee competition to achieve healthy employees to work more than 48 hours a week on
(process safety) were standardized - events habit challenges with 21,957 participants in 14 regular time and 60 hours including overtime.
Vale's occupational safety management comprises involving Vale's productive processes that countries. As key outcomes of the program in
a series of initiatives ranging from mapping and result in uncontrolled release of energy and/ 2021, we report that: 61% of participants are In addition, Vale acts to promote employee health by
adopting measures for risk mitigation to protocols or materials (toxic or not). In 2021 the pyramid more active after the program, 76% improved at complying with local legal requirements, considering
and requirements for certain activities. The of process events was created. When fully least 1 nutritional habit, 26% felt less stressed the World Health Organization (WHO) global agenda
initiatives include actions to promote the physical implemented, process accidents will become an after participating, 20% felt more productive, to focus on themes such as the common flu, sexually
and emotional health and well-being of employees. important indicator in Vale's safety strategy. and 24% reported feeling more energized. transmitted diseases, pregnancy, men's and women's
They include: health, obesity, hypertension, diabetes, smoking, and
• Safe Work Permit (SWP): process that assesses • Process safety: Regarding operational risks, mental health.
• Hazard Identification and Risk Analysis (HIRA): a risks of routine and non-routine tasks safety indicators for production processes were
structured process that identifies hazards and considered critical or very critical. The process adopted in 2021.
analyzes risks, details the causes of the scenarios starts in the maintenance planning stage,
for process accidents, the existing protections continues with a discussion at the activity site, The company also respects the conventions of
and the criticality of the risks in the people goes through the execution of the activity and the International Labour Organization (ILO) in
and environment dimensions - during its first ends with the delivery of the service and closing
cycle (2019 to 2021). In the second cycle (2022 of the maintenance order.
to 2025), critical and very critical operational
scenarios with potential business interruption • Critical Activity Requirements (RAC): internal
will also be considered. This process also aims compliance standards for the execution of
to continuously improve the integrity of Vale's critical and very critical tasks. They are critical Disability prevention
critical assets. requirements for the elimination of fatal
accidents in these activities. In 2021, Vale implemented global guidelines to strengthen our efforts to prevent
• Technical Standards of Asset Integrity (PNR): cases leading to employee disability. Musculoskeletal and mental disorders ranked
standards applicable to the asset’s life cycle • Exposure to health risks: global corporate first among common risks, both in Brazil and worldwide. In an effort to mitigate
(engineering, construction, commissioning, guidelines for the management and development these and other risks, we instituted multidisciplinary committees to set guidelines;
operation and decommissioning) that define of monitoring and control programs for employee involve our Health and Safety, Human Resources and Management areas; and provide
technical requirements to prevent and mitigate occupational health, which includes quantitative management indicators, tools, technology, and processes to reduce absences.
undesired events based on risk scenarios. objectives for the reduction of health risk
scenarios in the medium term.
REDUCE THE NUMBER OF EXPOSURES TOTAL ACCIDENT RATE

ABOVE THE OCCUPATIONAL EXPOSURE (per 1 million hours worked)
LIMIT (OEL)
In a thousand exhibitions
Incident INDICATORS 20.7
Exposure 3.48
AND GOALS
underground at
Target
23 17
15.6
Totten Mine in Vale has health
17.9
15
13.7
12.4 11.5 2.25
Sudbury, Canada and safety goals

1.98
In 2021, 39 Vale workers were trapped for 2025: 1.41
in the Totten underground mine Mine

in Canada after a shaft blocking - a Reduce by
2019 2020 2021 2022 2023 2024 2025 2018 2019 2020 2021
structure used to transport people and Note: The target data for 2022 is under analysis in the first quarter of 2022.
materials underground - incident.

The 39 employees returned safely to 50%
the number of
Note: The number of exposures is calculated by adding the number of
exposures above the Occupational Exposure Limit (OEL) that occurred at
Vale Global in the year in question;
The targets associated with our strategic objectives
to reduce risks to health, safety and operations
the surface with the support of the The rationale for defining the reduction curve was to consider the goal
exposures to of reaching 11.5 thousand exposures in 2025. From this, a curve was made are one of the criteria we use to set Vale's variable
Vale rescue team and the municipality healthdamaging that reduces more in the first years than in the last ones. compensation levels. In case of a fatality, the
via a secondary exit. After the incident, agents in the indicators of health, safety, and risk management for
REDUCTION OF HIGH-POTENTIAL
Vale began an investigation to ascertain workplace by 2025. RECORDABLE INJURIES that operation are reset to zero and there is no bonus
the causes of the incident and take in health, safety, and risk management targets.
63
measures to ensure that it does not N2
happen again. Target
Vale measures and analyzes health, safety and
Reduce to operational risk indicators following routine
More than 40 recommendations
0
35 management. We also perform periodic internal
have been implemented, including audits with independent auditors, based on risk
improvements in resource management, 25 criteria defined according to the nature of the
operational controls, hazard the number activities and the maturity level of the Health and
of recordable 15 Safety management system. Non-conformities
identification, and risk assessment. 10
highpotential 5
identified are registered in a system that results in
injuries by 2025. 66 57 44 29 0 developing and monitoring action plans, as well as
reporting to Vale's senior management.
2018 2019 2020 2021 2022 2023 2024 2025
Covid-19 countries where we operate. Since March 2020,

we have transitioned a significant number of Humanitarian action to fight hunger
employees to the home office regime as part of
efforts to mitigate the spread of Covid-19. We The pandemic has also aggravated hunger, endangering the food security and
Since 2020, we have donated more than USD 153 have also implemented other social distancing nutritional status of millions of people in Brazil and around the world. Given
million to governments and institutions in Brazil measures, including shifts in operational areas, this scenario, Vale, the Vale Foundation and the Vale Voluntary Network joined
and abroad for Covid-19 related humanitarian restrictions on face-to-face meetings, testing forces with organizations that work to fight hunger in Brazil, such as Full Pot
aid actions. In 2021, we supported the Butantan protocols, among others.
Movement (Movimento Panela Cheia), which was formed by Cufa, Gerando Falcões
Institute (Brazil) in the expensing works of
and the National Anti-racist Front, the Rio Union Movement and Citizeship
the Multipurpose Vaccine Production Centre, Screening for access to operational areas was
which will have a production capacity of up implemented in the units globally, and an Action (Movimento União Rio e Ação da Cidadania), among others. Together they
to 100 million doses per year, and we donated application to track proximity between people in delivered more than one million staple food baskets/food cards to more than
50 million syringes and 400,000 pieces of case of need contact tracing was implemented 220,000 families in a situation of severe food insecurity in 2021.
personal protective equipment (PPE) to protect in several of them. In Brazil, Indonesia, and
professionals on the vaccination front line. The Mozambique, the screening process included
Vale Technology Institute, in partnership with the periodic testing of the workforce using thousands
Fiocruz Network, is collaborating to produce of of serological or rapid antigen tests.
PHOTO: ISAAC JUNIOR

genomes of the SARS-CoV-2 virus.
Employees identified as being at higher risk of
Reinforcing the solidarity actions, we joined other developing the severe form of the disease were
companies in the donating of intubation drugs, removed from operations and remained at home
totaling 3.7 million analgesics, sedatives and on full benefits awaiting vaccination before
neuromuscular blockers imported from China. returning to work sites. As of January 2022, proof
Mothers of Vila Nova
These were all donated to the Brazilian Federal of complete Covid-19 vaccination is a mandatory (Mães de Vila Nova) Benefit
Government for subsequent distribution to the requirement for own employees, contractors, and Association, in São Luís,
states through the Unified Health System (SUS in visitors to our Brazil locations. Maranhão, during the
distribution of basic food
Portuguese). baskets of Citizenship
Action (Ação da Cidadania),
Learn more one of the campaigns
In a concerted aim to ensure the health and
About Vale's crisis supported by Vale during
safety of its employees, Vale has remained response plan. the pandemic
on high alert in Covid-19 prevention in all the
People GRI 103-2, 103-3

EMPLOYEES AND CONTRACTORS
WORKFORCE GRI 102-7, 102-8
BY BUSINESS UNIT
- CONTRACTORS
BY GEOGRAPHIC LOCATION
– EMPLOYEES
Number of
Year Employees Contractors Total 2021 2020 Number of employees 2021 2020
Contractors
TALENT ATTRACTION AND RETENTION
Under the recruitment strategy concept, 2017 73,596 56,979 130,575 Ferrous 46,327 34,042 Brazil 55,067 58,249
implemented in 2020 and guided by the Vale's Coal 7,416 6,076
2018 70,270 54,644 124,914 South America (ex-Brazil) 153 190
integrated management system (VPS), the
company seeks to attract and retain talent 2019 71,149 78,143 149,292 Base Metals 15,207 10,395 North America 6,448 6,169
that is aligned with its purpose, its cultural
2020 74,316 111,921 186,237 Energy - - Europe 279 293
transformation, and its commitment to promote
diversity, equity, and inclusion. Its practices involve 2021 72,266 141,147 213,413 Corporate 27,690 26,877 Asia 4,382 4,454
everything from focusing on the candidate's Capital and
decommissioning 44,507 34,531 Oceania 10 1,263
experience to using artificial intelligence to
projects
assertively search profiles. The global expansion of Africa 5,927 3,698
this model began in 2021, starting in Canada. Total 141,147 111,921
Total 72,266 74,316
The relationship with employees is guided by Vale's BY GEOGRAPHIC LOCATION BY BUSINESS UNIT
Code of Conduct, labour legislation, the eight – CONTRACTORS – EMPLOYEES
Fundamental Conventions of the International TURNOVER RATE* 2021 2020
Number of contractors 2021 2020 Number of Employees 2021 2020
Labour Organization (ILO), and by the guidelines General 8.2% 10.7%
of the Organization for Economic Cooperation and Brazil 114,757 90,877 Ferrous 44,235 44,342
Development (OECD). GRI 102-8 Coal
By gender
South America (ex-Brazil) 113 140 5,492 3,320
Base Metals
Men 7.0% 9.3%
12,903 13,762
North America 4,311 4,617
Fertilizers
Women 14.5% 19.7%
- -
Europe 133 109
Energy *The turnover rate is calculated based on data from Vale and
- 3.954
Asia 9,613 7,964 its subsidiaries. Its formula is [(No. of employees who left the
Corporate company + No. of employees hired) ÷ 2] ÷ No. of employees in
8,261 7,914
Oceania 6 198 the previous year. GRI 401-1
Capital and
Africa 12,214 8,016 decommissioning projects
1,375 1,024
Total 141,147 111,921 Total 72,266 74,316
COLLECTIVE BARGAINING AGREEMENTS COMPENSATION

GRI 102-41 | 407-1 GRI 102-36 | 103-2, 103-3 | 201-3 | 202 | 405-2
In 2021, 100% of the employees in Brazil were Vale's compensation adheres to the legislation of
covered by collective agreements with trade each country where it operates, and variations may
unions. Considering all the countries where occur due to employees’ seniority and maturity
Vale operates, the percentage was 92% for levels. With regard to base wages, there are no
its own employees. In Brazil, 46 Collective differences between men and women performing
Labour Agreements were signed, with 13 trade the same job. In addition, Vale does not deduct or
unions, most of which were for benefits, salary restrict compensation that could lead the worker to
readjustment, working hours and profit sharing. be in debt with the company. GRI 405-2
In the period, the company's proposed offer For more information about the indicator, access the
to production and maintenance employees ESG databook.
in Sudbury, Canada, for a new five-year
collective agreement was rejected, despite Also, according to each country's legislation, the
unanimous endorsement of that agreement following benefits are assured but may vary: medical
In the photo (left
by the union's bargaining committee. The to right), Dayanne and dental assistance; life insurance; private pension
event resulted in a shutdown of Sudbury Priscila Silva and Vera plan; personal accident insurance; transportation
operations, for approximately two months, Araujo, at Mutuca allowance; educational training; food allowance; and
Mine in Nova Lima,
and Vale continued negotiations until a new Minas Gerais, Brazil employee assistance program.
agreement was ratified in August 2021.
Four cases of risk or incidents were identified Vale respects the freedom of association and been electing a member of the Board of Directors In 2021,
in which the right to exercise freedom of collective bargaining, and in all the countries and the respective alternate by direct vote.
association and collective bargaining may where we operate, we strive to maintain good Elections are conducted jointly by the company the turnover rate
have been violated. These cases occurred in
operations in the VNL - Newfoundland and
relations with trade unions or, in countries where
this right is not assured by local legislation, with
and the unions.
was 8.2%
Labrador Vale region - and corrective measures equivalent worker organizations. The company As expressed in Vale's Code of Conduct and Global
were adopted according to the procedures seeks to resolve conflicts through dialogue and Human Rights Policy, all employees are free to join
provided for in the collective agreement. continuous meetings with representatives of labour unions or equivalent workers' organizations.
these associations. Since 2005, employees have
SUCCESSION PLAN TRAINING GRI 103-2, 103-3 | 404

Succession planning is a lever to generate Vale's Corporate University (Valer) has structured a
opportunities, retain talent, and also to portfolio of training and development actions for
develop behaviours aligned to our culture. To technical, management and leadership skills aligned
this end, we have been counting on our Global with the company's strategies such as safety, Vale's
Talent Review program since 2019, through integrated management system (VPS), risk management
which we discuss and continuously monitor and sustainability. More recently, Valer has been
the career, development and readiness of preparing employees and leaders to work in new
successors who will be needed - mainly for ways that promote greater agility, collaboration and
critical positions - in the short, medium and integration, and has also supported the digital inclusion
long term, in order to ensure to business strategy by developing a digital training program for
continuity. operational employees. The Vale Institute of Technology
has two courses recognized by Coordination for the
In 2021, we found options for successors for Improvement of Higher Education Personnel (CAPES
99% of our critical positions for the short, in Portuguese): a Professional Masters in Sustainable
medium, and long term. Developing successors Use of Natural Resources in Tropical Regions and a
and getting them are ready to assume new Professional Masters in Instrumentation, Control and
roles in the responsibility of our leaders and a Automation of Mining Processes.
key element of the VPS management model. Employees of the
Mutuca Mine, in
The assurance of an assertive succession line In 2021, in line with the commitment to employee Nova Lima/ Minas
for jobs and positions has become part of safety, work began to review the technical-operational Gerais
executive compensation targets. training model, through which diagnosed and trained
were directed to employees in critical functions. About AVERAGE HOURS OF TRAINING GRI 404-1
The People, Compensation and Governance 4,000 of the 17,000 employees in these functions in
Committee monitors the succession planning Brazil were diagnosed as needing better training for AVERAGE HOURS OF TRAINING IN 2021 (ANNUAL AVERAGE BY FUNCTIONAL CATEGORY)
of the top leadership through quarterly technical competencies, aiming to strengthen accident Functional Category Hours
meetings on the topic, always reporting to the prevention and operational excellence. The Entry
Board of Directors. Gates program (Portas de Entrada in Portuguese) was Leadership 58
also implemented, focusing on the learning journey of Specialist 42
interns, young apprentices, professional trainees, and
Technical-Operational + Staff 77
global trainees.
Diversity, Equity and Inclusion

GRI 103-2, 103-3 | 405-1 RACE TOTAL
52.5%
Our diversity, equity and inclusion strategy aims to The result of this survey will help us map gaps
strengthen a culture that promotes and values an and implement actions that adherent more 0.4%
inclusive environment and addresses the challenges closely to our needs, to build a more fair and
mapped out through affirmative policies. Since inclusive company. Below are the results of the 2.4% Brown
2019, we have been addressing structured initiatives Brazil’s census, considering a total of 53,391 2.0% White
Black
to create working conditions and opportunities that employees.
Yellow
promote representation related to gender, race, and
people with disabilities, among other fronts.
11.5% 31.2% Not informed
LGBTQIA+ Pride - Jailson Sá Santana, Indigenous
process technician.
In 2021, our priority focus involved the preparing the
Vale Diversity Census, to understand our challenges, RACE BY GENDER
and reviewing processes and systems, as well as
initiatives to strengthen a culture oriented toward 2.3%
the promote diversity, equity and inclusion.
Women
46% 9.3% 38.9% 3.3%
VALE DIVERSITY CENSUS

0.2%
In 2021, Vale conducted its first diversity
census, covering operations in Brazil and 1.9%
Canada. In Brazil, about 68.5% of the company's
Men
own employees participated voluntarily and 54.2% 12.1% 29.2 2.2%
confidentially, making self-declarations about

0.4%
how they see themselves and how they perceive
the work environment at Vale.
In 2021, Vale conducted

its first diversity census
PHOTO: DANIEL DA COSTA GOMES MARTINS
GENDER IDENTITY AGE GROUP BY GENDER PROFESSIONALS WITH DISABILITIES EDUCATION BY GENDER
BY FUNCTIONAL POSITION
46.2%
Men
44.7%
0.4% Women 0.2% 0.2%
40.4%
% PwD 0.2%
0.4%
99.1%
% Non PwD 4.6% 1.8%
93.1%
12.7%
32%
26.3%
24.0%
22.4%
10.3%
4.4%
99.6%
2.2%
0.4%
0.3%
1.3%
0.2%
0.4%
3.6%
0.1%
3%
Male and female Up to 21 22 to 29 30 to 39 40 to 54 55 years Staff Supervisor Manager/ Executives
years old years old years old years old or older Coordinator/ managers
Transgender, non-binary/fluid, Technical and above 31.3%
prefer not to inform and others 39.8%
Specialist
AGE GROUP TOTAL SEXUAL ORIENTATION CURRENT EDUCATION
45% Heterosexuals
92.2% 36% Middle School
High School Post Doctorate
Gay, lesbian, Technical Doctorate
bissexual and
others University/Technologist 19.8% Master Stricto sensu
Not informed 24.1% MBA / Post Graduation MBA / Post Graduation

Lato Sensu Lato Sensu
20% Master Stricto sensu University/Technologist
13% Doctorate
21.9%
Technical
0.7% Post Doctorate High School
37.5% 3.8% 16.3%

11.5% Middle School
2.2%
0.9% 0.3% 0.2%
3.6% 4.2%
Up to 21 years old 22 to 29 years old 30 to 39 years old 0.2% 1%
40 to 54 years old 55 years or older Women Men
GENDER EQUITY PROFESSIONALS WITH DISABILITIES ETHNIC AND RACIAL EQUITY

Vale's goal was to double the In 2021, Vale made concentrated efforts to From the census results, we identified that
representativeness of women in its workforce, ensure that 5% of our workforce is composed Vale Brazil is made up of 64% black and
from 13% to 26%, by 2030. In 2021, the company of professionals with disabilities (PwDs). We brown professionals and that we have a great
announced it had brought the commitment implemented the career acceleration program opportunity to expand this representation
forward by five years, to 2025. During the year, with these professionals in mind. The pilot in middle and senior leadership positions.
it reached 18.7% representation of women edition included 25 professionals whose skills To this end, Vale has made the following
globally, the equivalent of adding 4,400 women were strengthened. In 2022, the program’s commitments:
Amanda Francisca
to its workforce. At the top leadership level, we Tenorio de Almeida approximately 500 vacancies will be offered to this
reached 20.3% female representation, a 80% works at the PPE group of employees. It also remains a challenge to
increase compared to 2019, when the goal was Center of the
include PwDs in leadership positions. COMMITMENTS TO ETHNIC AND RACIAL
Paraopeba Complex,
established. Minas Gerais
EQUITY
Learn more
• Achieve 40% of leadership in Brazil
About our commitment and initiatives in the
Diversity, Equity & Inclusion Report 2020/2021. (managers and above) made up of black
and brown people by 2026;
• Implement educational programs to
WOMEN BY FUNCTIONAL CATEGORY PROPORTION OF WOMEN BY FUNCTIONAL CATEGORY GRI 405-1 intensify the professional training
Increase for black and brown people from the
38.2%
in communities where Vale operates;
36.8%
2019
2019 2020 2021
relation 2020
to 2019 2021 33.8% • Strengthen anti-racist positioning.
Total women 9,050 11,443 13,488 49.0%
24.3%
Here, we highlight our 2021 Global Trainee
20.3%
Staff 8,457 10,638 12,433 47.0%
Program, which prioritized women and black
18.8%
Learn more
Supervision 239 374 412 72.4% people. Of the 144 trainees hired, 66% (95
13.5%
13.4%
For more information on

12.7%
professionals) were black and brown and 68%
11.2%
diversity in governance
10.2%
Management
8.7%
bodies and employees see were women. In addition, in partnership with

9%
and 329 397 598 81.8% indicator 405-1 in the ESG
5.6%
coordination companies from various sectors, Vale has joined
3.8%
Databook.
movements and indices that aim to implement
Executive
managers and 25 34 45 80.0% and measure the effectiveness of actions to
directors Operational Technicians Specialists Supervisors Managers Directors correct social inequalities within organizations.
PHOTO: ALEXANDRE REZENDE

Paulo Luiz Franco and his son
Ebrain Pereira, in a cassava and
vegetable plantation at Casa da
Hora, in the Vila Nova community,
one of the communities that Vale
is engaged with in Parauapebas,
Pará/Brazil
Social
and Relationship
1. Social Ambition
2. Human Rights
3. Indigenous Peoples and Traditional

Communities
Capital
4. Local Communities
5. Private Social Investment
6. Suppliers and customers
7. Stakeholder Engagement

96
Presentation A Vale
Apresentação Vale Visão Global
Governance Governança
and Corporativa
Compliance Desempenho
Manufactured e resultados
Capital FinancialCapital
CapitalFinanceiro Capital
Intellectual Natural Natural
Humano CapitalCapital
Human Intelectual Social
Capital Social
Capital CapitalAnalysis
Critical ManufaturadoAssurance
Análise crítica Sumário GRICredits
GRI Index Créditos
SOCIAL AND RELATIONSHIP CAPITAL

18 thousand INVESTMENTS THROUGH
THE LAW OF CULTURE INCENTIVE
We have defined our social companies in
Vale's supply chain In BRL million
ambition: “To be a partner
350 301
company in the development
300
of resilient communities, 250
engaged in relevant issues to
53%
200
humanity and committed to 150 121
of total 100 55
sustainable mining” 50
purchases
2019 2020 2021
destined for
The largest company that has
purchases
encouraged culture in the country
local in the last 3 years, according to
the investment ranking of the
Federal Law for Cultural Incentive
CUSTOMERS
With regard to our
Scope 3 emissions,
SOCIAL EXPENDITURES engaged customers
HUMAN RIGHTS USD 473.5 million represent approximately
100% of the company's destined mainly for: 30% of global steel
operations with human urban infrastructure and production and about
rights risk analysis mobility, culture, health, 40% of global emissions
and social protection,
73% with own resources
and 27% through
incentive laws.
RELATIONSHIP WITH
COMMUNITIES
Relationship with
2,092 local communities,
INVESTORS 29 Indigenous Peoples,
and 57 Traditional
Dividends of BRL12.60/share
paid to shareholders and
Communities.
repurchase of
approximately 6% of
company's shares.
COMMUNITY GRIEVANCES
Total: 11.069 The main issues were
support for social
Answered
projects (1,316), access,
98.9%
roads and routes
Attended
(1,200), and involuntary
82.7% resettlement (862).
Social Capital 97
Social Ambition
School reinforcement activity for

elementary 1 and 2 students at Aracy 2030
Novais Municipal School, in Santa Commitments
Bárbara, Minas Gerais. The project is a
partnership between Vale and the NGO "To be a partner company in By launching our social ambition, together we • Perform Top
Juventude Viração. In the photo, teacher
the development of resilient want to: 3¹ in major
Ana Paula de Oliveira with student
Izabelly Aparecida Rodrigues Santos. communities, engaged in relevant external
• Develop solutions with suppliers, customers assessments
issues to humanity and committed to
and partners, in order to generate a sustainable of sustainable
sustainable mining." mining cycle. mining,
The design of this ambition is the result of work • Promote resilient communities by supporting in social
that involved stakeholder engagement, an analysis •
sustainable development in the territories where requirements.
of the social context in the countries where we we operate;
• To lift 500,000
operate, and benchmark studies. • Ensure and disseminate the practice of business
people out
and human rights;
of extreme
• Contribute to greater social justice by
poverty.
"We have a history of social engagement and implementing education, health, and income
support and a relevant role in the places where generation projects; • Indigenous
we operate, but we want to do more. For this, • Appreciate cultures and respect and promote communities
we consider it our social ambition to be a partner the rights of Indigenous peoples and Traditional neighboring
that enables the development and autonomy of all Vale
Communities;
the communities with which we relate, based on operations
• Ensure that our actions generate social and
the education-health-income tripod."
environmental value and promote effective, with UNDRIP²
Eduardo Bartolomeo, CEO rights plans.
positive post-mining legacies.
"We want to articulate alliances and 1

SCI, Sustainalytics
M
partnerships involving companies, and DJSI. At least 3rd
position in the sector
governments and the voluntary sector
in all of them.
around structuring actions and programs for
2
UN Declaration on the
the communities where we operate" Rights of Indigenous
Maria Luiza Paiva, Vale Executive Officer of Peoples
Sustainability
Social Capital 1. Social Ambition 2. Human Rights 3. Indigenous Peoples and Traditional Communities 4. Local Communities 5. Private Social Investment 6. Suppliers and customers 7. Stakeholder Engagement 98
Human Rights GRI 103-2, 103-3

"What I see, both from the impact
of mining and other impacts from
other ventures that arrive in the
Due to the inherent characteristics of its activities A specific front was also developed to train human In these assessments, we gauge the probability neighbourhood (Jardim Canadá,
and the extractive sector where it operates, rights multipliers in the operations, with more of a risk’s occurrence and the severity of its Nova Lima/MG – Brazil), is that they
Vale recognizes that there are several challenges than 200 employees trained by 2021. In addition, impact. From there, we develop and implement bring many people along with them,
related to respect for human rights in its activities more than 3,200 hours were dedicated to specific action plans and monitor their progress to outsiders, who don't have this idea
of belonging to the community. So
and throughout its value chain. training on human rights and corporate security, reduce the exposure of people and company
they come with their families, stay
according to the Voluntary Principles on Security to risks. On a quarterly basis, our risks are
here for a while, and many go away
The topic is contained in the Integrated Risk Map, and Human Rights, covering 80% of the total monitored by the Risk Committee and reported and leave their families. I also see the
as well as in Vale's Risk Management system. workforce. GRI 410-1. to all levels of the company, including the Board issue of vulnerable young people and
To guide its actions, the company has a Global of Directors. children, because there are usually
Human Rights Policy, aligned with international HUMAN RIGHTS RISK MANAGEMENT many lodging facilities housing males,
initiatives and standards such as the UN Guiding 100% of Vale's operations* have assessed the risk For critical issues, such as forced labour, and the girls hang around there,
thinking about getting some affection
Principles on Business and Human Rights, the of human rights violations and monitored them child labour, sexual exploitation of children
because their father abandoned
UN Global Compact, the Universal Declaration of periodically along with other business risks. In and adolescents, and human trafficking, risk them, looking for some money to buy
Human Rights, the principles and guidelines of the addition, our operations have adopted prevention management processes are determined at all life something, and I see the enticement
International Council on Mining and Metals (ICMM) and mitigation control measures for these risks cycle stages of Vale's ventures. We also mitigate of these adolescents is very strong....
and the International Finance Corporation (IFC) and conducted tests to ensure their effectiveness. these risks through an ongoing engagement this saddens the neighborhood. I
Performance Standards, among others. GRI 412-1 process with our communities, and partnerships know that progress exists and that it
is coming, but I also know that with
with Childhood Brasil and InPacto that help us
good things come bad things for the
In 2021, Vale trained 74,000 people via the two- Human rights risk assessment at Vale involves take preventive and mitigating action.
neighbourhood."
hour online course that is mandatory for all its analyzing critical issues such as degraded
Jaquelline Pinto, representative of the
own employees, totaling 111,000 hours of training. working conditions and modern slavery, child In 2021, there were no records or allegations of
Transformar Social Space and a resident
For contractors, a video training program was labour and sexual exploitation of children and occurrences of child or slave labour involving
of Jardim Canadá for over 20 years.
provided focusing on the main human rights adolescents, violations in work relations, large- Vale's operations, however we recognize the
issues. GRI 412-2. scale human rights violations. fragility of the theme in our value chain and we
are acting to minimize these impacts. GRI 408-1 |
409-1
Learn more
Watch the
*Considers as operations the risk management areas that
testimonial.
contemplate the Company's business.
Social Capital Ambition

1. Social Ambition 2. Human Rights 3. Indigenous Peoples and Traditional Communities 4. Local Communities 5. Private Social Investment 6. Suppliers and customers 7. Stakeholder Engagement 99
Due diligence Indigenous

in human rights Iretuk Xikrin, in
the Catete village Peoples and
Traditional
(Indigenous Land
Xikrin do Catete)
Communities
In 2021, Vale committed to conducting external due diligence
in human rights for all its operations and critical projects
in three-year cycles, using a methodology aligned with GRI 103-2, 103-3 | MM5
international human rights standards. During the year,
12 operations out of a total of 42, and two projects were Vale’s relationship with Indigenous Peoples and
contemplated*. Moral and sexual harassment were relevant Traditional Communities is based on our respect
human rights violation risks identified in all due diligence for cultural diversity and for the rights of these
performed. As a result, action plans are elaborated to populations. We recognize the different connection
address the risk situations that are considered critical and that they have with the territory, which involves
are monitored periodically (at least quarterly). not only physical and socio-economic aspects, but
also cultural and spiritual aspects. Our relations are
With regard to Vale's suppliers, human rights management guided by Vale's Global Human Rights Policy, which
involves several stages, from certification, registration, is aligned with leading national and international
selection and contracting to contract management and references and legislation related to the topic. In
supplier development and training. In the period, we addition to our commitment to build a constructive,
assessed 100% of our supplier base with active contracts mutually beneficial relationship, we make managing
in Brazil for risk of human rights violations. We also risks and their impacts on these populations a
conducted in-person due diligence processes, which priority.
identified risks related to overtime management. The
suppliers that present a higher degree of risk are engaged Currently, the company has relationships with 29
in several ways, including the monitoring of action plans for Indigenous Peoples, 13 in Brazil and 16 in other
the treatment of deviations, meetings on Human Rights countries, in addition to 57 Traditional Communities
and sharing of good practices. in Brazil. The team responsible for conducting
this relationship is made up of professionals
Learn more about Vale's Human Rights management. dedicated to each people/community who have
multidisciplinary backgrounds and consistent
Considers the grouping into operations performed for internal due
25
diligence control. The total number of enterprises may vary from experience in Indigenous relations. They are
one year to the next due to the other due to merger and acquisition dedicated to acting in these territories and to
processes, sale and new projects. PHOTO: RAFAEL SCHERER
forging permanent relationships with these In a aim to favour a solid relationship of partnership STRATEGIC INITIATIVES WITH
"It is very complicated for us indigenous people
populations.GRI G4 MM5 and trust, we also implement programs and INDIGENOUS PEOPLES
Our company’s planned voluntary action fronts to remain in university, this project is essential
voluntary agreements, built collaboratively with to help, I am very happy to be contemplated by
involve:
In addition, Vale qualifies the employees and these populations, considering their cultural and the project"
suppliers who interface with these populations territorial specificities. • Preservation of Cultural Memory; Juliana Porang (Juliana Coutinho Cabidelli),
in areas impacted by its operations, to maintain • Indigenous Protagonism; indigenous of the Tupiniquim Guarani Indigenous
consistency in our dealings in the various territories • Sustainable Programs. Land, Medicine student at the University of
and to hold a qualified dialogue with these Brasilia
stakeholders. In 2021, we will start developing projects focused
on methodologies to preserve Indigienous cultural
heritage with the Xikrin do Cateté, Awá, Guajajara
and Ka' apor Peoples, through the Cultural Institute.
We also support the National Plan to Fight Covid-19
Another prominent initiative was establishing in Indigenous Territories, which have been deeply
Withdrawal of all mining processes the Indigenous Program for Permanence
and Opportunities at the University (PIPOU
affected. Equipment was acquired for all 34
Indigenous health centres in Brazil (100% coverage).
on Indigenous lands in Portuguese), which aims to contribute to The initiative aims to make telemedicine services
the higher education of Indigenous People available to the Indigenous people and will bring
Vale does not conduct any mineral research or mining activities on Indigenous lands
in partnership with non-governmental them consultation within the villages, avoiding the
in Brazil, and had already declined 104 mining processes, between 2019 and 2021.
organizations, experts in Indigenous higher need to travel to large centres.
In 2021, Vale gave up all mining processes on Indigenous lands in Brazil, as a result education and representatives of the Indigenous
of the understanding that mining on Indigenous lands can only be carried out with movement. In 2021, 50 Indigenous people were
awarded scholarships and infrastructure support.
the free, prior and informed consent (FPIC) of the Indigenous people themselves and
legislation that regulates this activity.
Recognition of FPIC is critical to address the rights of Indigenous peoples to In 2021, we established the
determine their own development and their right to exercise self-determination
over decisions concerning their territories. Learn more Indigenous Program for Permanence
About our work
on this topic. and Opportunities at the University
PHOTO: RAFAEL SCHERER
In the photo, chief

Zeca Gavião, right,
"Today I recognize that if we
Indigenous Peoples and the Onça Puma Nickel Mine in Brazil
with Mathias (Hàraxàre
Krokti Konxart), from can have this condition of living
the Kyikatejê village the way we want to, to be able
Vale's relationship with the Xikrin do Cateté negotiations, and deliberations for the to eat meat, fish, you were
also part of it. I would like to
peoples began in the 1980s. On the one construction of a global agreement that recognize, despite our fights,
Learn more
hand, the relationship benefitted from would put an end to all lawsuits in which they our struggles, that you were
About Indigenous
infrastructure improvements made by Vale are parties. part of this. Our focus is to
Peoples and the
Onça Puma Mine. invest, always thinking about
through voluntary agreements; on the In December 2021, the Xikrin Associations and the future. And I recognize
other hand, associations representing these Vale entered into an out-of-court agreement that Vale was part of it
peoples and Brazilian public authorities to terminate the lawsuits, which was
together with us. Through the
agreement we found a result."
allege that our operation has had a negative presented to the Federal Civil Court Judge of
impact on the health of the communities Pepkrakte Jakukreikapiti Ronore
Redenção (Pará state) for acknowledgement Konxarti (Zeca Gavião), Chief of
near the Onça Puma Nickel Mines. and ratification, which occurred on March
Local Communities
the Kyikatejê Village, Indigenous
Land Mãe Maria - Pará/Brazil.
Since 2017, Vale has sought to dialogue 07, after recognition of validity declared in
with the peoples involved, with the Federal a positive opinion presented by the Federal GRI 103-2, 103-3 | 413-1
Public Prosecution Office and with all the Public Prosecution Office .
stakeholders involved, contributing to the In March 2022, the Kayapó and Vale
The activities of Vale and the mining sector
implementation of several actions, including in general involve social impacts on several
Associations also entered into an out- fronts, including risks related to the safety
the judicial investigation that issued reports Vale currently has 2,092 local community
of-court agreement to terminate the of communities surrounding the company's relationships mapped, of which 1,304 are in
not confirming the impacts indicated. In lawsuits in which they are parties, which operations, conflicts arising from involuntary Brazil, 80 in Canada, 355 in Mozambique, 163 in
2020, Vale, Federal Public Prosecution and was submitted to the Federal Civil Court resettlement and land use, and conflicts with Malawi, 47 in Peru, 27 in Oman, 110 in Indonesia
the Xikrin do Cateté and Kayapó indigenous Judge of Redenção for cognizance and Indigenous Peoples and Traditional Communities, and 6 in Malaysia. To engage them, Vale seeks to
peoples reached a preliminary agreement ratification, with a favorable opinion from among others. establish structured spaces for dialogue to build
which culminated in the suspension of the the Federal Public Prosecution Office our Community Relationship and Investment
lawsuit filed by the Federal Public Prosecution Since 2020, we have adopted community Plans. These plans will be based on the principle
and recognition of the validity of the
Office and/or the Xikrin Associations. In relationship standards globally which compel us to of mobilizing the communities to participate in
adjustment. identify, engage and monitor our relationship with our efforts to define and prioritize actions that
2021, Vale made progress in the dialogue,
these stakeholders. we will implement in their territory.
By 2021, in Brazil, we had 411 priority

communities in Brazil to engage, out of a total
of 1,304 communities, distributed among
130 municipalities. In the period, 69% of the
communities were covered by Relationship and
Relationship with the community of Piquiá de Baixo
Investment Plans.
The Piquiá de Baixo community, located ABOUT VALE’S NEW INVESTMENTS and infrastructure items. About 43% of
in the Açailândia Chemical Industrial Park IN PIQUIÁ the construction on the houses has been
GRIEVANCE MECHANISM
GRI 102-34, 103-2, 103-3
in the state of Maranhão, claims that it Sensitive to the cause, to the history of complete.
Vale's Grievance Mechanism is composed is impacted by pollution caused by steel claims and with the goal to build a positive In the environmental area, a set of actions
of several listening channels, which are the mills installed at the site over 30 years legacy, Vale is increasing its contribution to is underway to mitigate the emission of
structures responsible for managing community ago. Vale does not own any pig iron mills in the sustainable development of the Piquiá particulates during the road transportation
manifestations. These channels (phone, letter, Açailândia, but it acts as the main supplier community. The new investments – which of Iron Ore by paving the Açailândia
email, among others) provide different means of Iron Ore used to produce steel. are divided into four areas described below yard and access roads. This includes
through which stakeholders can contact and
interact with the company. In addition, our In line with its social performance – are the result of the company's constant articulation with plants installed in the
Grievance Mechanism is governed by human rights guidelines, the company has supported dialogue with the community and are part region to comply with legal and market
guidelines and complies with the General Data initiatives such as preparing a socio- of the steering committee's plan created environmental standards.
Protection Law. economic diagnosis of the families located by the City Hall of Açailândia that aims to
At the social and institutional level, Vale
in the region in question, and formalizing a ensure more infrastructure and quality of
In 2021, 11,069 community manifestations were is investing in preparing a participative
partnership between the Vale Foundation life for the Piquiá community.
registered, of which we answered 98.9% and plan for socio-economic development in
fulfilled 82.7%. The main issues were related
and the Piquiá Community Association In the housing area, Vale is making a Piquiá, which will be used as a blueprint
to support for social projects (1,316); access, with the Caixa Econômica Federal Bank, to financial contribution totaling more than for collaborating with public authorities
highways and roads (1,200); and involuntary help construct 312 houses to create a new USD 8 million, to facilitate and guarantee to improve local infrastructure, such as
resettlement (862). These figures do not include neighbourhood for the community. the conclusion of works on the new Piquiá proper rainwater drainage in the region.
the manifestations captured by the Service Centre da Conquista neighbourhood. Construction Vale is also conducting social projects
reported in the Reparation in Focus/Brumadinho
will include 312 housing units, including aimed at income generation, education
chapter.
basic sanitation, proper public lighting and health in the region.
Learn more
About Grievance
Mechanism.
COMMUNITY SAFETY PHOTO: GUSTAVO BAXTER
Vale is reviewing the ways in which its activities Desembargador Coal transport derailment
impact society. One of the vectors of this review Drumond Railroad
includes community safety, which involves
Station, in Nova Era,
Minas Gerais
in Moatize
mitigating the risk to people's physical integrity that
Despite our efforts to ensure the those who lost loved ones and
Vale's presence in the territories may present.
communities’ safety wherever we those whose family members
The challenge of enhancing our safety approach operate, in October 2021, a train were in serious condition and
is extending risk and impact management to our transporting coal from Vale's mines provided psychological support to
communities. In this context, we are implementing in Moatize to the port of Nacala, the victims and relatives of those
a structured process to improve community derailed in northern Mozambique. who lost their lives.
safety, which will include executing preventive The coal cars overturned onto the
actions, responding to occurrences, performing In this occurrence, among
ground and into the Namutimbua the lessons learned was the
crisis management, and investigating events as
River, causing the fatalities of two importance of making decisions
well as implementing actions to mitigate the risk
of their recurrence. The direct participation of the In 2021, 49 people died and 126 people were injured children, in addition to seriously quickly to mobilize all the
communities in the process is evolving to become due to events associated with Vale's presence in the injuring two victims and lightly necessary resources for the
larger and larger. territory, representing an increase of 48% and 103%, injuries to eight, totaling twelve victims and their families to
respectively, over the previous year. victims. receive the best care available,
Vale assumed the practice of recording events
regardless of guilt or responsibility, transforming For 2022, reducing safety events that result in injury
As immediate measures, we according to the severity of the
the analysis of these occurrences into learning to community members represents 5% of the total provided medical assistance to cases. The event also influenced
that informs our actions to continuously improve variable compensation of all company leadership. the victims at the Cuamba District the definition of criteria for
operational safety to protect our communities. This Hospital and transferred victims immediate support (to victims
practice demonstrates the way Vale is evolving to in serious condition to another, and their families) in emergency
understand its role as an agent for transformative
change in the territory.
The reduction of safety events more structured hospital. We also situations. Besides promoting
assigned social monitors to the improvements in the operational
with the community will represent accident site. procedures of permanent way
5% of the variable compensation To support the families, we maintenance and preventive

monitoring controls.
provided emergency social aid to
of all leadership
INVOLUNTARY RESETTLEMENT Also in Minas Gerais, in the municipality of Itabira,

The resident
GRI 103-2, 103-3 | G4 MM9 13 families were mapped for feasibility analysis for João Batista
Vale is committed to ensuring that the involuntary resettlement due to drainage works in
Involuntary resettlement process provides the Pontal System. Resettlement in Itabira Carlos
the restitution of livelihoods in conditions In 2021, Vale progressed in the planning for
equivalent to or better than those prior, In the north of Brazil, Vale carried out a social and
decharacterizing the structures built by the
which requires, among other measures, the economic diagnosis to examine the reality of 25
upstream method of the Pontal Dam, in
replacement of impacted land, housing and families who will be served by the project to duplicate
economic activities. The process adopted by the road-rail bridge over the Tocantins River in the the Itabira Complex in Minas Gerais. Among
Vale follows the guidelines from international municipality of Marabá in the state of Pará. the projects is the decharacterization of
organizations such as the International the Minervino and Cordão Nova Vista dikes.
Finance Corporation – IFC, the World Bank, In Bela Vista, where Mr. João lives, our commitment Vale is seeking solutions to minimize the
the United Nations – UN, and the International is to avoid or minimize involuntary resettlements involuntary resettlement of families due to
Council on Mining and Metals – ICMM. necessary for the execution of the project. Mr. João
project implementation.
is one of the residents who was registered and
In 2021, 805 families were involved in is waiting for a definition from the company. At *In 2021 a socioeconomic survey was carried out for
Involuntary Resettlements in Brazil. Of this this moment we are discussing together with the Mr. João's family and 12 other families living in the Bela
total, 572 families are being assisted due to Public Defender's Office - that is accompanying the Vista neighbourhood in Itabira that will be involved in an
involuntary resettlement process in 2022. The goal is to
dams decharacterization works in Minas Gerais. process - the Specific Term of Commitment, that prevent families from being impacted by the works of
"We moved here in 1998, and little
sets the indemnity parameters. Once this stage is drainage system improvoment in Vale's area.
by little I adapted our house to the
On the Vitória-Minas Railroad, a dialogue was completed - scheduled for May 2022, we will return family's style, but I can't continue with
conducted to agree on measures to assist to negotiations with the 13 families living in the that because we are in this situation
families living in the railroad's easement strip, in Bela Vista neighborhood. Vale maintains a service of indefinition – whether we will be
the municipalities of Antonio Dias, and Nova Era, station in the neighborhood, available to attend resettled or not. So I can't make any
in Minas Gerais. Even though this represents an to the communities and clarify doubts about the more improvements to the house, in an
area that we felt comfortable, and we
eviction from a company-owned area, support
is being provided to the 34 vulnerable families to
process.
805 families were don't have that anymore. My shop is my
world. I ask the company to expedite
obtain new housing and restore their livelihoods
in a new location. On the same railroad, Vale has
In Mozambique, Vale has promoted public
consultations to resettle 96 farmers due to
involved in involuntary this situation as much as possible."
carried out studies to promote the involuntary the construction of a new pipeline to supply resettlement processes Mr. João Batista Carlos*, resident
of the Bela Vista community in the
resettlement of 161 families to duplicate and the Moatize Coal Mine. In the same period, we
modernize the railroad stretch in Belo Horizonte. held public consultations to resettle another in Brazil in 2021 municipality of Itabira.
PHOTO: ARQUIVO VALE

"I'm a resettler here from 171 families from the Mphandwe and Ntchenga manage the relationship with communities that
Cateme, I've been on a communities located in the future expansion area occupy these properties irregularly.
horticulture project here of the venture. After the host area was chosen by
on the farm offered by the communities, Vale promoted a participative The main issues related to land use conflicts in
Vale, since 2017. Vale process to create the resettlement project, which Brazil are found in the northern region of the
taught me how to produce
will include infrastructure that will also serve the country and involve the actions of organized
and I can teach other
host community. Vale built the 70m² model house, social movements. In the municipality of Canaã
people. I produce onions,
lettuce, tomatoes, peppers, which was approved by the government and dos Carajás and Curionópolis, in Pará, around 400
and okra. I sell all these communities. families occupy company’s properties in the region
products and with the of the Cristalino Project. Vale is seeking, through
resources, I can send the Vale built the Cateme Village to resettle 712 dialogue, to build a solution, together with justice
children to school, buy families from rural communities that were once institutions, representatives and families linked to
panels for the house, in
located where the Moatize Coal Mine currently social movements, to vacate this area.
short, I thank Vale for
this income generation stands. At the site, Vale maintains a social project
project.". to enable agricultural and economic development Vale does not conduct mineral research or mining
for the resettled families. At Fazenda Modelo, activities of any nature on indigenous lands in Brazil,
Faruque Nito Sinalo Colher,
Cateme, Mozambique
farmers who own small plots of land are trained however, there is a controversy involving the Xikrin
in sustainable food production techniques which do Cateté people in relation to projects in the Carajás
generate revenue that provides income for region. The issue was under discussion in recent
the families, thus contributing to restore their years, and during 2021 a joint effort was made by
livelihoods. all those involved in the legal proceedings, which
culminated in an agreement that made it possible to
LAND USE DISPUTES extinguish most of the Public Civil Lawsuits.
GRI 103-2, 103-3 | MM6 | MM7
Vale currently owns more than 9,000 properties in The agreement reflects the result of a process of
Brazil, corresponding to about 360,000 hectares. Of dialogue, engagement, and negotiation between
this total, 63% are operational areas and 37% are the parties, aiming at resuming the relationship
non-operational. Part of these areas are located of partnership and good neighbourliness between
in regions where land use disputes are part of the the company and the Indigenous People as well
territorial context and require the company to as a conciliatory solution without recognizing
Private Social
and the City Halls of the 24 municipalities along
environmental damage, considering that judicial the Carajás Railroad (EFC), the initiative is aimed at
expert reports have already proven that there
is no environmental damage resulting from the Investment
GRI 103-2, 103-3 | 203-1
first, second and third grade public school students.
The project has iniciatives such as: strengthening
TerPaz
Onça Puma enterprise. The agreement has already of the municipal management; training of
been ratified by the Federal Court of Redenção Vale makes socio-economic investments in the teachers, managers, and technicians; assessment In 2021, we inaugurated the
and is awaiting ratification by the Federal Court of territories where it operates and in initiatives and monitoring of learning; and production and first community complex of the
Marabá. Vale reiterates that its actions are based that contribute to developing of society, through distribution of educational materials.
Paz Plant in the Icuí-Guajará
on compliance with environmental legislation and investment vehicles or structured initiatives. In
neighbourhood in Ananindeua
respect for the Xikrin do Cateté people. 2021, USD 95.88 million were spent on voluntary NETWORKED TERRITORIES
social actions with own resources, in addition (TERRITÓRIOS EM REDE) (Pará). This is one of six units Vale
Vale has decided to abandon its mining processes on to the actions to support facing Covid-19 and Launched in 2020, this project aims to identify is building in Pará, as part of the
Indigenous Lands in Brazil as of 2021, which includes complementary actions in Brumadinho. See the the main challenges in guaranteeing the right Territories for Peace Program
requirements for research, exploration and mining. highlights in the ESG Databook. GRI 203-1 to education and to propose actions that seek (TerPaz), conceived and managed
The necessary procedures are being taken by the to combat school exclusion, together with the by the state government.
company at the National Mining Agency - ANM (in Vale Foundation municipalities. Year to date, the project has identified
The Plants are inclusive
Portuguese). 3,340 excluded children in Serra (Espírito Santo) and
The Vale Foundation seeks to strengthen public Marabá (Pará), of which 2,480 were returned to the community spaces with
In Mozambique, Vale has started negotiations policies and contribute to the social development educational system. In partnership with Apprentice sustainable architecture, built
involving the community and the government in the territories where Vale operates. In 2021, its School City (Cidade Escola Aprendiz) and the City in regions with high rates of
for compensation of farmers who irregularly initiatives impacted more than 860,000 people across Halls of Serra and Marabá, children and teenagers violence and social vulnerability
occupy the PIT 2 concession area in Section 2. The 50 municipalities in six Brazilian states. We highlight between 4 and 17 years old are identified as being and designed to serve local
government has oriented the preparation of an the following projects: out of school or at risk of dropping out. After being
communities. They offer a wide
Economic Resettlement Plan that will be carried identified, the children are monitored by the project
out in 2022. LITERACY TRACKS to ensure their school enrollment or attendance
range of sports and leisure
(TRILHOS DA ALFABETIZAÇÃO) regularized. This is possible thanks to the assistance activities, services such as legal
This project promotes literacy in about 70,000 provided by the Networked Territories teams in advice and document issuing,
children in the public school network. During the collaboration with the schools and the municipal vocational training, family health,
year, 2,900 educators, managers, and technicians government, through home visits or phone contact. a library, a swimming pool, digital
from 1,070 schools participated in the project's In addition to the Vale Foundation, the project has inclusion rooms, among others.
training. Developed in partnership with the investments from Wheaton Precious Metals, in Pará,
Government of Maranhão, Fundação Getulio Vargas and from GHT, in Espírito Santo.
PHOTO: ISAQUE JUNIOR

HEALTH CYCLE (CICLO SAÚDE) aiming to conserve and recover the environment,
Literacy
Health Cycle (Ciclo Saúde) is a technical cooperation especially in the Amazon. Tracks
program to strengthen primary care in the
municipalities and aims to promote health through AMAZ - THE AMAZON IMPACT
an integrated process. In 2021, we Implemented the ACCELERATOR
program in 18 municipalities, supporting 175 basic Among the highlights of the Vale Fund in 2021
health units (UBS in Portuguese) and training 2,200 is the launch of AMAZ - impact accelerator
professionals. The project can potentially benefit of Amazon. This program supports startups in
up to 695,000 users of the Brazilian Unified Health various areas such as financial and administrative
System. The project includes training workshops, management and articulates cooperative
management support and furniture and equipment opportunities in logistics and market access. By 2030,
donation to improve conditions for the population. we will select 30 businesses through annual calls
It is a Vale Foundation initiative in partnership with for proposals. The selected candidates will receive
the Center for Health Promotion (CEDAPS), the Post- total contributions of USD 2.3 million. Together, the
Graduate Family Health Program at Estácio de Sá startups should help preserve one million hectares of
University, and the municipal governments where it forest and benefit 930 families.
is implemented.
COVID-19 RESPONSE PLAN AND
Learn more EMERGENCY CREDIT LINE
About The Vale The Vale Fund provided about USD 1 million to
Foundation. family farming and extractive associations and
cooperatives through the Covid-19 Response Plan,
between 2020 and 2021. Our partnership with
Conexsus and the CX Fund has already impacted
The Vale Fund 18,800 producers, invested in 85 community
businesses (43% in the Amazon) and provided
The Vale Fund works to strengthen a more loans in the amount of USD 1.7 million through the
sustainable, fair and inclusive economy. Since 2010, it
has supported the construction of a new economic
Emergency Credit Line, catalyzing resources with
other cofinanciers.
The Vale Fund aims to
reality by investing in business development, strengthen a more sustainable,
knowledge generation, the strengthening of the
impact ecosystem, and financial arrangements fair and inclusive economy
AMAZON AT HOME, FOREST STANDING Vale Cultural Institute The Vale Volunteer Network banks in several states and expanded spaces in their
(AMAZÔNIA EM CASA, FLORESTA EM PÉ) own clinics to receive blood donations.
Developed by Climate Ventures, the Amazon
Logistics and Commercialization Lab sought to In 2021, the Vale Cultural Institute supported and In 2021, the Vale Volunteer Network united more They also worked for the organ donation cause,
unlock market barriers to leverage Amazonian sponsored more than 200 projects in 160 Brazilian than 5,000 volunteers, who took part in 150 actions. by creating a card for volunteer donors, in
socio-biodiversity products. As an innovation and municipalities. The four cultural spaces of the Among them are the Brazil Without Hunger and partnership with Adote. Joining forces with the Vale
co-creation space focused on prototyping and Institute – Canãa dos Carajás House of Culture Christmas Without Hunger campaigns, which were Foundation, Itaú Social, Gimba, and BRSupply, they
testing, the Lab tested solutions to boost region's (Casa da Cultura de Canãa dos Carajás), Vale part of Vale's humanitarian actions to fight hunger. also promoted a school reception campaign, which
bioeconomy. As a result, the movement Amazon Maranhão Cultural Centre (Centro Cultural Vale Partners of the Brazil Without Hunger campaign guaranteed the delivery of school kits to children
At Home, Forest Standing (Amazonia em Casa, Maranhão), Minas Gerais Vale Memorial (Memorial included Microsoft, Deloitte, GHT, Komatsu, Epiroc, and young people enrolled in the Knowledge
Floresta em Pé) was created, which relied on a Minas Gerais Vale) and Vale Museu – initiated Arcadis and Acende Brasil. Partners of the Christmas Stations in Arari (MA), Brumadinho (MG), Marabá
partnership with Mercado Livre, increasing online more than 1,900 projects, reaching more than 1.6 Without Hunger campaign include Mascarenhas (PA), Serra (ES), and Tucumã (PA). In addition to
sales of sustainable businesses in the biome. million people, and the Vale Música music training Barbosa, Ápia, Weir Esco, Barbosa Mello and these, there are actions to promote reading,
program held more than 622 classes. Continental. Faced with the worsening pandemic menstrual dignity campaigns, inclusive runnings and
STRENGTHENING THE IMPACT ECOSYSTEM and the fall in blood bank stocks, Rede and Pasa, animal protection actions, among dozens of others.
The Vale Fund supported several initiatives and Public calls for proposals were sent out, offering a Vale Group company that operates in the health
networks in 2021 to strengthen skills, produce funds from the Federal Law for Cultural Incentives sector, signed partnerships with clinics and blood
knowledge and support the environment by in an effort to foster cultural activities and drive
boosting social and environmental impact the creative economy throughout Brazil. For
businesses. Partners such as the Corporate example, the Vale 2021 Cultural Institute Call for
Citizenship Institute (ICE in Portuguese), Phi Proposals allocated USD 4.6 million for projects to
Institute, Latin American Venture Philanthropy be carried out in 2022.
Network (Latimpacto), Aspen Network of
Development Entrepreneurs (ANDE), Pipe Social,
and Move.Social have been part of this trajectory.
Learn more
Patricia Zacheu,
Vale Cultural Institute.
Mercia Costa and
Fabricia Zacheu,
Learn more
from the Vale
The Vale Fund. Volunteers Learn more
network in São
Participate, visit
Luís, Maranhão
and register.
PHOTO: ISAQUE JUNIOR
Social development actions

Suppliers and customers in the communities
In 2021, around 18,000 suppliers made up The company prioritizes the hiring and
Vale has sponsored the Share (Partilhar) Gerais and Pará. In addition, they closed 96
Vale's supply chain, including consumer development of local suppliers. Local purchases Program since 2020, to promote the socio- contracts using the program's innovative
goods companies, service providers and represented, in 2021, a financial volume of more economic development in the locations where methodology, in which Vale generates a score
consulting firms, among others. than 53% of the total purchases in the period, it operates by joining forces with its supply for suppliers according to their socioeconomic
which was USD 18.4 billion. GRI 102-9 | 103-2, 103-3 | chain. contributions in the regions, making them
201 | 203 | 204-1 more competitive during our procurement
The initiative encompasses a Community
Value Index (IVC in Portuguese), which makes processes. In 2021, among our suppliers’
it possible to recognize and appreciate the voluntary social investments in the territories
Value chain partnerships suppliers that contribute most to each where Vale operates, we highlight the training
of welder, seamstresses, truck drivers and
region’s social progress through five levers:
POSCO, a South Korean steel producer headquartered in Pohang, South Korea, Munk operators, among others.
employment generation, investments in wage
and a Vale customer, launched a matching fund with its global raw material
mass, local spending on products and services, A total of 434 suppliers participated in the
suppliers. By joining forces with the mining and steel industries, they aim to
taxes, and social investments. competitive processes prepared with the
an effective social contribution to the local communities where these partner
In 2020, we incorporated the program's Share (Partilhar) methodology, which is 77%
companies operate.
methodology and technical and commercial of the companies invited. The volume of
Vale was one of the partners chosen to receive a social contribution. In its contracts awarded in the program exceeded
aspects into Vale's supplier contracting
first year (2021), the program began in Brazil with investments in education USD 740 million.
process, to value our suppliers and encourage
for vulnerable young people at the Knowledge Station in Marabá, Pará. The
them to help strengthen the communities
program has implemented a Pre-College entrance exam preparatory course.
where the company operates.
In its second year, the program will be carried out with an institution to be
selected by POSCO in South Korea. Through the program, Vale's suppliers Learn more
have already committed to carrying out 55 About the social
development actions in the
voluntary social investment actions in Minas communities.
Supplier evaluation and monitoring
Supplier management is guided by adherence to The company's history in the market is also For active suppliers, Vale also carries out periodic On a quarterly basis, public sanctions are monitored
compliance standards required by Vale, which checked during the registration phase, including monitoring of aspects such as social, environmental, (in accordance with the Sanctions Compliance
include aspects of health and safety, social and an analysis of the companies' compliance with human rights, performance and government Policy), and every six months the Supplier
environmental issues, ethics and integrity, and the requirements of Vale's Ethics & Compliance relations. Local labor obligations are monitored, as Performance Index (IDF) is calculated. This is an
human rights. Program. The public lists of forced or compulsory well as the black list of employers using forced or evaluation of supplier performance on five criteria –
labor sanctions and of the Brazilian Federal compulsory labor, and the list of public sanctions by technical quality, environmental protection, health
Government (CEIS, CEPIM, and CNEP), among the government on a monthly basis. and safety, respect for employees, and continuous
others, are also analyzed. If any irregularity is improvement.
identified, the supplier is not registered and may
be considered unfit to supply Vale.
Program to manage carbon emissions in the value chain

Reducing greenhouse gas (GHG) emissions in line with in a specific program, the CDP Supply Chain, to encourage actions focused on the low-carbon economy. The
the Paris Agreement is part of Vale's commitment to public carbon disclosure along the supply chain. platform analyzes management data, governance and
Agenda 2030. Since 2011, the company has monitored and In 2021, we invited 496 suppliers, accounting for about indicators to define risks and opportunities aimed at
encouraged suppliers to manage their emissions through 30% of the company's overall spending. Not included in reducing emissions. The material is evaluated by CDP and
a contractual clause and an annual questionnaire. this group were steel customers and shipping suppliers. passed on to the suppliers.
In 2020, Vale entered into a partnership with the Carbon Of this total, 375 answered the questionnaire on the CDP See more at Climate Change.
Disclosure Project (CDP), an international non-profit platform, which represents a 37% increase over last year.
organization that helps companies and cities to disclose Ninety-one percent of the suppliers who responded
their environmental impact. The partnership engages in 2020 also submitted their responses in this cycle,
suppliers classified as critical in greenhouse gas emissions allowing us to assess their evolution and coordinate
Stakeholder engagement GRI 102-43
Aware of its potential impacts on society, Vale seeks to practice dialogue and active listening with its stakeholders to build a positive
legacy for future generations. The following are our relationship and engagement initiatives with our main stakeholders.
STAKEHOLDER ENGAGEMENT INITIATIVES GRI 102-21, 102-40, 102-42, 102-43, 102-44
Stakeholders Why we engage How we engage Main demands and concerns addressed
• Community manifestations about the territorial development agenda

Making relationship plans with communities, forming (support for social projects and job vacancies) and mitigation of local
management groups and holding participative meetings impacts (safety and traffic on access roads and highways);
To share knowledge about our ventures and and, community visits; holding forums to monitor
• Demands related to managing impacts and Brumadinho reparation
their risks and impacts. To listen, understand, actions; implementing our Listening and Response
(transportation, access to water, care, animal rescue and indemnity);
Communities and act to respond to communities’ Mechanism – to capture, register, treat and respond
expectations and provide opportunities for to community manifestations. Engaging throughout • Concerns about dam safety and transparency;
territorial development the entire life cycle, from the preliminary design and
• Techniques for environmental restoration and reforestation after mine
licensing phases, including the concept of progressive
closure.
closure of our ventures in the territories.
• People management practices;

• Decent working conditions;
Maintaining internal communication channels (Talk • A diverse, inclusive, and psychologically safe environment;
360, webinars, Vale@, Management Bulletins, Intranet,
We are committed to performing our Teams Card, among others); Capacity building, training • Freedom of association and collective bargaining;
activities safely, respecting the environment and the Sustainability Academy; creating thematic • Managing risks, impacts and opportunities in dams;
Employees and people – our own employees, groups, maintaining interactive dialogue and, joint
contractors, suppliers, and communities. action and volunteer programs, and engaging in • Managing risks and opportunities in health and safety;
collective bargaining with trade unions or workers' • Deploying techniques for environmental restoration and reforestation after
organizations. mine closure;
• Innovating through investments in R&D, automation, robotization, and
artificial intelligence.
• Dam management (policies, commitments, risks, impacts and

opportunities);
• Eco-efficient production and distribution technologies;
Staying in touch via commercial and technical meetings,
We provide support to customers because
visits, emails and phone calls; maintaining our Customer • Techniques for environmental restoration and reforestation after mine
Customers of their strategic importance to the core
Portal; deploying a satisfaction survey; attending closure;
business.
forums, seminars, and conventions.
• Technological products and solutions for Vale’s Scope 3 Emission
Reductions;
• Carbon capture and storage systems.
• Dam management (policies, commitments, risks, impacts and

opportunities);
We value agility in purchasing materials • Local communities (risks, impacts and opportunities, objectives, goals and
and services; to choose the correct items; Low carbon forum; supplier chat; business round-table management practices results, as well as outstanding projects);
Suppliers to manage our materials inventory; and to discussions; training, human rights risk management,
maximize health, safety, and sustainability and workshops with suppliers of global categories. • Investments in innovation, R&D and eco-efficient production and
variables in our supply chain. distribution technologies;
• Techniques for environmental restoration and reforestation after mine
closure.
• Business performance,
• Capital allocation,
• Long-term strategy,
• The Iron Ore, Nickel and Copper markets
• Good governance practices: corporate (independence and transparency),
environmental (water and biodiversity impacts), and social (labor and
Letters, meetings, questionnaires, shareholders' community safety, human rights, and local community relations);
Vale is committed to achieving strong
meetings, webinars, conferences, roadshows and, • Climate change and business model impacts, innovations in applications,
Investors financial performance and to creating
calls, our ESG Portal, IR website and IR email, Board of
shareholder value. and greenhouse gas emissions management;
Directors engagement.
• Dam management
• Reparation of Brumadinho, Mariana and other operations to address safety
issues;
• Innovation (life cycle of metals and ores, techniques for environmental
restoration and reforestation after Mine closure) and eco-efficient
production and distribution technologies.
• Cultural transformation and greater transparency about challenges with

civil society;
Partners, aca- • Community (investment fron human rights to dam and Mine closure
demia, experts, Meetings and events; expert Vale Foundation and Vale impacts);
We have established partnerships and
and non-go- Cultural Institute panels; Sounding Panel – advisory • Innovation (life cycle of metals and ores, techniques for environmental
proximity with experts in various areas and
vernmental board, under the Executive Board, composed of global restoration and reforestation after Mine closure) and investments in R&D;
expertises.
ESG experts.
organizations • Reparation of Brumadinho and Mariana;
(NGOs)
• Exploration in sensitive biodiversity areas.
We seek to maintain a close relationship • Legal compliance in social, environmental, and production methods;
guided by principles of public administration
• Reparation of Brumadinho and Mariana;
(legality, impersonality, administrative
morality, publicity, and efficiency). • Dam management (risks, impacts and opportunities);
These stakeholders are active in political
Strategic, political-institutional, and technical • Innovation (life cycle of metals and ores, techniques for environmental
decision-making process and public policiey
Public agencies formulation, on which our company's
meetings; thematic groups and events, and actions of restoration and reforestation after Mine closure) and investments in R&D;
mining sectorl entities.
highly regulated business depends. They • Topics on the agenda for the year: mining waste, water, particulate
influence Vale's regulatory risks, in addition emissions, conflicts with communities, and mine closures.
to acting directly in the process of obtaining
authorizations, grants and licenses to which
the company and its businesses are subject.
• We respond in a reactive manner, when journalists seek information about

the company's various issues; and in a proactive way, based on positive
We are accountable and value a policy Maintaining a positive relationship with the media, agendas provoked by the Press Office;
of transparency in our relationship with answering requests for interviews with Vale executives
Press stakeholders and image and reputation and information about the company's business and
• Most common reactive agendas include: issues about our business, reparation
and dams;
management. operations.
• Main proactive agendas include our commitment to sustainability (carbon
and biodiversity), cultural transformation, innovation, and diversity.
• Best practices related to environment (climate change, mining waste,

We seek engagement and relationships with biodiversity and water resources), social responsibility (impacts on local
key entities focused on sustainability issues, communities and human rights, and the vulnerability of these populations,
analysis and mitigation of geopolitical and Strategic, political-institutional, and technical including at Mine closure) and governance (cultural transformation,
Institutions socio-political risks, discussion of public meetings; thematic groups, forums, and actions promotion of ethics, transparency, and reparations for Brumadinho and
policies, sustainable development initiatives through mining sector entities globally. Mariana);
and responsible investments, and defense of
the mining sector interests – globally. • Managing risks and opportunities in dams, biodiversity, human rights, and
local communities.
PHOTO: VITOR NOGUEIRA

Participation in
external organizations
Vale is committed to the UN Global Compact.

Although our company withdrew in 2019 out
of respect for the institution and its members
following the Brumadinho tragedy, we have
worked diligently to implement the Ten Principles "After the Brumadinho
of the UN Global Compact. tragedy, Vale committed
itself to full reparation
Our engagement with external organizations of the impacts caused. It
involves the company's senior leadership and is also committed to the
principles of precaution
includes institutions such as the International
and non-repetition, re-
Council on Mining and Metals (ICMM), the World evaluating all aspects of
Business Council for Sustainable Development its business. As part of this
(WBCSD), the Brazilian Business Council for review, Vale has reinforced
Sustainable Development (CEBDS in Portuguese), the implementation of the
the World Economic Forum (WEF), and others. Ten Principles of the UN
Global Compact. Following
See the complete list of entities and associations
them is a strategic step
in which Vale participates.
in strengthening our
sustainability performance."
Learn more Eduardo Bartolomeo, CEO
Information on the 10
principles of the Global
Compact.
Railroad Vitória
Minas. Brazil
Participation in entities and associations

Vale participates in the following entities and associations. Many abbreviations refer to Portuguese acronyms. GRI 102-13
• ABEC BRASIL (Brazilian Association of Scientific • Reference Centre for Integral Education, via the • Foundation for Foreign Trade Studies Centre • Sustainable Development Solutions Network (SDSN)
Editors), via ITV Vale Foundation (Fundação Centro de Estudos do Comércio
• Task Force on Climate-related Financial
Exterior / Funcex)
• Brazilian Society of Sciences (ABC) • Childhood Brasil Disclosures (TCFD)
• Global Business Initiative on Human Rights (GBI)
• Citizenship Action (Ação da Cidadania) • Brazil Climate Coalition Forests and Agricultures • The Cobalt Development Institute
• Group of Corporate Institutes and Foundations
• Aspen Network of Development Entrepreneurs • Covid Radar Collective • The Indonesian Mining Association (IMA)
(GIFE), via the Vale Foundation
(ANDE), via the Vale Fund
• Columbia Center on Sustainable Investment (CCSI) • The Mining Association of Canada (MAC)
• Institute for the National Pact to Eradicate
• Brazilian Association of Soil Mechanics (ABMS)
• Brazilian Committee on Large Dams (CBDB) Slave Labour (InPACTO) • The Nickel Institute
• Brazilian Metallurgy, Materials and Mining
• Brazilian National Confederation of Industry (CNI) • Instituto Acende Brasil • All for Education, via the Vale Foundation
Association (ABM)
• Brazilian Corporate Volunteer Council • Brazilian Mining Institute (IBRAM) • Voluntary Principles on Security and Human
• Brazilian Foreign Trade Association (AEB)
Rights
• China-Brazil Business Council (CEBC) • International Council of Museums Brazil (ICOM)
• Brazilian Association of Port Terminals (ATP)
• Wise Group
• Brazilian Business Council for Sustainable • International Council on Mining & Metals (ICMM)
• National Association of Rail Carriers (ANTF)
Development (CEBDS) • Women in Mining Brazil
• Latimpacto – Latin American Venture
• Brazil-Canada Chamber of Commerce
• Brazil-Japan Business Council (CEBJ) Philanthropy Network, via the Vale Fund • World Business Council for Sustainable
• Business at OECD (BIAC) Development (WBCSD)
• BRICS Business Council (CEBRICS) • Mining Hub
• Business for Social Responsibility (BSR) • World Economic Forum (WEF)
• European Association of Metals (Eurometaux) • National Pact for Early Childhood, via the Vale
• France-Brazil Chamber of Commerce Foundation
• Extractive Industries Transparency Initiative
•Centre National de Recherche Technologique (EITI) • Partnership Platform for the Amazon (PPA)
Nickel et Son Environnement (CNRT Nickel)
• National Forum of Pro-rectors for Research and • National Education and Research Network
• Brazilian Center for International Relations (CEBRI) Postgraduation (FOPROP), via ITV (RNP), via ITV
Independent reader letter

It is crucial for long-term investors to understand Before we comment in greater detail on key STRATEGIC FOCUS AND STRATEGY MATERIALITY
how companies create value over time. This aspects of the report, we acknowledge the DELIVERY
includes how resources are deployed and company’s commitment to the reparation of the The report explains the process used to identify
relationships are cultivated. As such, it is damage caused by the Brumadinho and Samarco The narrative about Vale’s business model, purpose the material issues that affect value creation
hoped that integrated reporting can be a tool accidents. As those events have been one of the and strategic pillars is presented in a clear way. The at Vale. According to best practice, it included,
to help providers of financial capital allocate main driving forces in the transformation process main achievements in the past year, and challenges among other steps, a survey of internal and
their investments in a more efficient way—and being implemented at the company, it is right for the year ahead, are detailed for each of the external stakeholders ranging from employees to
therefore act as a force for sustainability. that its progress and challenges around social five strategic pillars of Safety and Operational investors, suppliers, clients and non-governmental
and environmental matters are disclosed at the Excellence, New Pact with Society, Transformation organisations. In our opinion, there are no glaring
Vale’s journey into integrated reporting, now beginning of the report. of Base Metals, Discipline in Capital Allocation, and omissions and we were encouraged to see
in its second year, shows increased maturity in Maximisation of Flight-to-Quality in Iron Ore. The priority areas for investment stewardship, such as
the presentation of the factors that materially We would like to comment on some key principles company explicitly outlines a long-term ambition biodiversity, human rights, occupational safety,
affect the ability of the company to create value of the integrated reporting framework, how for each strategic pillar. tailings storage facilities management, and climate
over time. As the company progresses, further Vale applied them, and to offer suggestions for change mapped by the company as material to its
evidence is expected around how the integrated improvement at the next reporting cycle. In the table, it would be useful to include a long-term success.
report reflects the company’s development and summary of the key short-, medium- and long-
decision-making framework. This should be an term targets, and the achievements in the previous The implication of the material issues to Vale’s
area of attention at the next reporting cycle. year, plus a summary of the management’s capacity to create value and the company’s
assessment of its progress and challenges. This strategic response to each one can be found
should come at the beginning of the report as a throughout the report.
key tool for stakeholders to hold management
to account, therefore providing consistency and
comparability over time and with peers.
118
TOWARDS CLARITY AND CONNECTIVITY GOVERNANCE Beyond reparations, we highlight the “New Pact Areas of focus for future reports should be (i)
with Society” strategic pillar, which includes targets conciseness, by striking a balance between keeping
The report presents a great level of detail, The report describes the board’s structure and its related to climate change, water management, the report no longer than it needs to be and
resulting in an extensive document. Yet at times it recent evolution following the company’s now- biodiversity, diversity across the workforce and the ensuring the completeness of the information;
is difficult to navigate. This is often the case when dispersed shareholder base. This is a key input reduction of poverty. We were pleased to see that (ii) connectivity between the different forms of
a company chooses to begin the implementation to the governance. However, it is important to a challenge Vale sets out to address in this strategic capital employed by the company in the process of
of the integrated reporting framework by report the outcomes of the governance structure, pillar is the implementation of the social value creation, preservation and erosion of value; and (iii)
combining existing annual and sustainability for example: how the board members and the lens in its projects and operations. This is evidence further evidence of the integrated thinking applied
reports. committees support the strategy; which primary of integrated thinking and the interconnection to decision-making.
activities took place in the reporting cycle; and between social, financial, human and manufactured
We would expect an increased emphasis on how these activities impacted the company’s capitals. Jaime Gornsztejn
the streamlining of the information in the capitals and the strategy delivery. Engineer, specialist in Governance, Director of
next reporting cycles, evidencing the thinking In summary, Vale has demonstrated progress in Corporate Governance at Federated Hermes
behind the integrated reporting and how the STAKEHOLDER RELATIONS the implementation of the integrated reporting
capitals employed by the company (financial, framework and the integrated thinking upon which
manufactured, intellectual, human, social and The full reparation of the damage caused by it is founded. We encourage Vale to continue in its
natural) interconnect in the process of value the Brumadinho and Samarco accidents is an integrated reporting journey, gradually evolving
creation. essential element in the strategy of de-risking the from a combination of the standard annual and
company and rebuilding trust with stakeholders. sustainability reports, towards a tool to succinctly
The report brings some examples of Understandably, the reparation process is still communicate the key factors which materially
interconnected capitals. For instance, the natural, a source of controversy between Vale and the affect its ability to create value over time and how
financial and manufactured capitals employed in affected communities. The detailed disclosure they are interconnected.
the context of the development of low-carbon provided helps the reader assess the company’s
products, such as the ‘green briquettes’. progress and challenges. It is critical that the
company continues to show evidence that it
We encourage Vale to go further in this thematic, understands, considers and responds to the needs
and to demonstrate how it impacts value creation. and interests of this key group of stakeholders.
It is crucial for long-term investors to
understand how companies create
value over time
119
Independent reader letter

The Integrated Report is an innovative instrument I shall start with the issue of the disasters that The inclusion in the 2021 Report of a component It is also worth noting, in this same vein, Vale's
for managing information about Vale's occurred in Brumadinho and Mariana, which is relating to "mine closure" is very important, since it critical statement regarding the Executive
performance, which stimulates objective analysis the most uncomfortable in the 2021 Report, to refers, after all, to how the company "gives back" Branch's Bill 191/2020, which deals with mineral
by its managers, employees and partners, and also note that there is a great distance between the to society the areas that have been exploited, exploration and mining on indigenous lands.
allows external observers and the public to view expectations of public opinion and the actual whatever the permanence of the enterprises there The company's objection was based on the need
it in a comprehensive and synthetic way, even pace of social and environmental reparations. The may have been. There is an ethical and historical for indigenous protagonism in the process of
considering the magnitude of the company. inherent slowness of judicial processes and the issue involved, which is crucial for legal, formal, prior and informed consent (FPIC), in accordance
technical challenges of reparations do not satisfy and efficient mining to objectively demonstrate with the internationally established standard
However, there is no way for an independent people, in general, who expect a gentler end to its difference in relation to the predatory activities through Convention 169 of the International
observer to gauge the accuracy of the information these tragedies. The anxiety of the public opinion that are advancing in Brazil. Labor Organization, which is far from recognized
in the Integrated Report, which underscores the and of those directly involved recommends that in the government's proposal. This manifestation
importance of independent auditor analysis. It Vale do everything possible to build agreements Vale's decision, in 2021, to give up the requests occurred in 2022 and should be reported in the
is not the case of incurring in the redundancy that speed up the results, the overcoming of the for mineral research on indigenous lands that next edition of this Report, but it is an unfolding
of commenting on it here in this space, but it is trauma and the recovery of its image. it was keeping with ANM - Agência Nacional de of discussions on the subject that have been
good to register the importance of each Report Mineração (National Mining Agency) - deserved ongoing since 2021, within IBRAM (Brazilian Mining
highlighting the steps taken by Vale, in the course In this same sense, the weighting of climate applause. This attitude gives coherence to the Institute) and other civil society organizations.
of the year, in relation to the observations of the change scenarios in the dam risk assessment company's statement that mineral exploration on
auditors contained in its previous edition. routines, highlighted in the Report, always leaves these lands is not included in its business plans for
doubts, since the climate threat is growing. What the next decades in Brazil.
would be the margins of error considered in these
evaluations, considering, for example, the intensity
of this summer's rainfall in southern Bahia, in Minas
Gerais, in the mountains of the state of Rio de
Janeiro, and in Greater São Paulo? Since these are
extremely sensitive hypotheses, all true information
can be cautionary and deserves space.
120
However, Vale's decision to file, with ANM, new Considering that Vale obtained a record profit in
requests for research on the surroundings of 2021, mainly due to the increase in the price of
indigenous lands requires action and clarification. iron ore in the international market, a scenario
Although legally feasible, these applications, that should intensify this year due to the climate
assuming that they result in mining activities, raise of war instigated by the invasion of Ukraine by
doubts about probable irreversible impacts on Russia, I suggest that the company consider the
contiguous areas. The occurrence of such damages possibility of expanding, in the same proportion,
in previous similar projects, as in the case of the its investments in sustainable socio-environmental
Xikrin do Cateté Indigenous Land (Itacaiúnas projects.
River), raises the expectation that they will not
be repeated in eventual future mining projects in Finally, the current war situation could not have
areas neighboring indigenous lands. been foreseen in 2021 and, therefore, is not
considered in the respective Integrated Report.
Vale's creation, in 2021, of the Executive Vice- However, Vale urgently needs to evaluate the
presidency of Sustainability is encouraging, as impacts of the crisis on the perspectives that were
it represents a step forward in the corporate then being taken into account. Above all, regarding
commitments to the social and environmental the ethical implications and the commercial
agenda, a measure that signals its acceptance retaliations that will influence the markets and
at the highest hierarchical level of the company. public opinion, as the conflict itself develops.
Thus, it is expected that, as early as 2022, this
initiative will result in consistent and visible Márcio Santilli
advances in the interlocution with the various Philosopher, founding partner of the
actors with whom Vale has relationships, and in Socio-environmental Institute (Instituto Vale's creation of the Executive
the specific territories where it operates.
Vicepresidency of Sustainability
Socioambiental - ISA)
is encouraging, as it represents
a step forward in the corporate
commitments to the social and
environmental agenda
121
(A free translation of the original in Portuguese)
Independent auditor's limited assurance report on the therefore, the maintenance of a comprehensive
quality control system, including documented
non-financial information included in the 2021 policies and procedures on the compliance with
ethical requirements, professional standards and
Integrated Report of Vale S.A. relevant legal and regulatory requirements.
Moreover, the aforementioned standards require

that the work be planned and performed to
To the Board of Directors and Stockholders RESPONSIBILITIES OF THE MANAGEMENT INDEPENDENT AUDITOR'S obtain limited assurance that the non-financial
Vale S.A. OF VALE RESPONSIBILITY information included in the 2021 Integrated
Rio de Janeiro – RJ Report, taken as a whole, is free from material
The management of Vale is responsible for: Our responsibility is to express a conclusion on misstatement.
INTRODUCTION the non-financial information included in the
• selecting or establishing adequate criteria for the 2021 Integrated Reporting, based on our limited A limited assurance engagement conducted in
We have been engaged by Vale S.A. (“Company” preparation and presentation of the information assurance engagement carried out in accordance accordance with the Brazilian standard NBC
or “Vale”) to present our limited assurance report included in the Integrated Report; with the Technical Communication CTO 01 TO 3000 and ISAE 3000 mainly consists of
on the non-financial information included in the – Issuance of Assurance Reports related to making inquiries of management and other
2021 Integrated Report of Vale for the year ended • preparing the information in accordance with the Sustainability and Social Responsibility, issued by professionals of Vale involved in the preparation
December 31, 2021. criteria and guidelines of the Global Reporting the Federal Accounting Council (CFC) , based on of the information, as well as applying analytical
Initiative (GRI - Standards), with the basis of the Brazilian standard NBC TO 3000, "Assurance procedures to obtain evidence that allows us
Our limited assurance does not cover prior-period preparation developed by the Company, and Engagements Other than Audit and Review", to issue a limited assurance conclusion on the
information, or any other information disclosed with Guidance CPC 09 – Integrated Report issued also issued by the CFC, which is equivalent to information, taken as a whole. A limited assurance
together with the 2021 Integrated Reporting, by the Brazilian Federal Accounting Council (CFC), the international standard ISAE 3000, “Assurance engagement also requires the performance of
including any incorporated images, audio files or related to the Basic Conceptual Framework engagements other than audits or reviews of additional procedures when the independent
videos. for Integrated Reporting, prepared by the historical financial information", issued by the auditor becomes aware of matters that lead him
International Integrated Reporting Council (IIRC); International Auditing and Assurance Standards to believe that the information disclosed in the
Board (IAASB). Those standards require that the Integrated Report taken as a whole might present
• designing, implementing and maintaining internal auditor complies with ethical requirements, significant misstatements.
controls over the significant information for the independence requirements, and other
preparation of the information included in the responsibilities of these standards, including The procedures selected are based on our
Integrated Reporting, which is free from material those regarding the application of the Brazilian understanding of the aspects related to the
misstatement, whether due to fraud or error. Quality Control Standard (NBC PA 01) and, compilation, materiality, and presentation of the
122
information included in the 2021 Integrated The limited assurance engagement also included Report. Therefore, we do not express an opinion CONCLUSION
Report, other circumstances of the engagement the analysis of the compliance with the guidelines on this information.
and our analysis of the activities and processes and criteria 1) of the Global Reporting Initiative Based on these procedures performed, described
associated with the significant information (GRI-Standards); 2) the provisions established Non-financial data are subject to more inherent herein, and on the evidence obtained, no
disclosed in the 2021 Integrated Report in which in the basis of preparation developed by the limitations than financial data, due to the nature matter has come to our attention that causes
significant misstatements might exist. The Company; 3) the principles for the Integrated and diversity of the methods used to determine, us to believe that the non-financial information
procedures comprised, among others: Report, pursuant to Guidance CPC 09 – Integrated calculate and estimate these data. Qualitative included in the Integrated Report for the year
Report, related to the Basic Conceptual interpretations of the relevance, materiality, and ended December 31, 2021 of Vale S.A. has not been
(a) planning the work, taking into consideration Framework for Integrated Report, prepared by accuracy of the data are subject to individual prepared, in all material respects, in accordance
the materiality and the volume of the International Integrated Report Council (IIRC) assumptions and judgments. Furthermore, we did with the criteria and guidelines of the Global
quantitative and qualitative information and applicable in the preparation of the information not consider in our engagement the data reported Reporting Initiative (GRI)(GRI-Standards), with the
the operating and internal control systems included in the 2021 Integrated Report. for prior periods nor future projections and goals. basis of preparation developed by the Company,
that were used to prepare the information and with the Guidance CPC 09 – Integrated Report.
included in the 2021 Integrated Report; We believe that the evidence we have obtained is The preparation and presentation of non-
sufficient and appropriate to provide a basis for financial information and indicators followed the
(b) understanding the calculation methodology our limited assurance conclusion. definitions of the basis of preparation developed
and the procedures adopted for the by the Company and the guidelines of the São Paulo, May 6, 2022
compilation of indicators through inquiries Global Reporting Initiative (GRI-Standards) and,
of the managers responsible for the therefore, the information included in the 2021 PricewaterhouseCoopers
preparation of the information; SCOPE AND LIMITATIONS Integrated Report does not have the objective Auditores Independentes Ltda.
of providing assurance with regard to the CRC 2SP000160/O-5
(c) applying analytical procedures to The procedures applied in a limited assurance compliance with social, economic, environmental
quantitative information and making inquiries engagement vary in nature and timing and are or engineering laws and regulations. However,
regarding the qualitative information and its less detailed than those applied in a reasonable the aforementioned standards establish the
correlation with the indicators disclosed in the assurance. Consequently, the level of assurance presentation and disclosure of possible cases Maurício Colombari
2021 Integrated Report; and obtained in a limited assurance engagement is of non-compliance with such regulations when Contador CRC 1SP195838/O-3
substantially lower than the level that would be sanctions or significant fines are applied. Our
(d) w
hen non-financial data relate to financial obtained in a reasonable assurance engagement. assurance report should be read and understood in
indicators, comparing these indicators with If we had performed a reasonable assurance this context, inherent to the criteria selected and
the financial statements and/or accounting engagement, we might have identified other previously mentioned in this paragraph.
records. matters and possible misstatements in the
information included in the 2021 Integrated
123
GRI Content Index GRI 102-55
For the Materiality Disclosure Services, GRI Services reviewed that the GRI content index is clearly presented and the
references for Disclosures 102-40 to 102-49 are aligned with appropriate sections in the body of the report.
ORGANIZATIONAL PROFILE
Page number(s) and/or URL Material / ICMM

GRI Standards Disclosure Omission SDG SASB
and/or direct answers Non-Material Principles
102-1 Name of the organization Page 20 Mandatory
Activity metrics;
102-2 Activities, brands, products, and services Pages 20 and 56 Mandatory
EM-MM-000.A
102-3 Location of headquarters Page 55 Mandatory
102-4 Location of operations Pages 20 and 55 Mandatory

GRI 102:
General
102-5 Ownership and legal form Page 20 Mandatory
Disclosures
2016 Page 55; further information can be found in
the 2021 Reference Form - Section: Information
102-6 Markets served on products and services related to operating Mandatory
segments - 2.1.3 Customers and sales (Pages:
259, 260, 262 and 266)
Pages 20 and 55; further information can be

102-7 Scale of the organization found in the 2021 Reference Form - Section: 7.2 Mandatory
- Information on operating segments
124

102-8 Information on employees and other Page 90; More information can be found in the Activity metrics;
Mandatory
workers "Social" tab of the ESG Databook EM-MM-000.B
Pages 110; further information can be found

in the 2021 Reference Form - Section: 7.3 -
102-9 Supply chain Information on products and services related Mandatory
to operating segments. e. Main inputs and raw
materials
Pages 44, 47 and 56; Further information can
be found in the 2021 Reference Form - Topic:
7.3 - Information on Products and Services
GRI 102: 102-10 Significant changes to the organization and
Related to Operational Segments/e. Main inputs Mandatory
General its supply chain
and raw materials (page 277) Note: This topic
Disclosures will be updated with the 2021 information on
2016 05/31/2022.
Pages 37, 46 and 48; further information can be

102-11 Precautionary Principle or approach Mandatory 2; 4
found in Form 20F 2021 - Section: 4. Risk factors
Page 80; further information can be found on

102-12 External initiatives Mandatory 10
Vale's website

102-13 Membership of associations Mandatory 9
found on Vale's website
125

STRATEGY
GRI 102: 102-14 Statement from senior decision-maker Pages 03 and 05 Mandatory 2
General
Disclosures
102-15 Key impacts, risks, and opportunities Pages 9 to 18 and 48 Mandatory 2; 4
2016
ETHICS AND INTEGRITY

Business Ethics
GRI 102: 102-16 Values, principles, standards, and norms of behavior Pages 22 and 50 Mandatory 16 1; 2 & Transparency;
General EM-MM-510a.1
Disclosures Page 51; further information can be found in the Business Ethics
2016 102-17 Mechanisms for advice and concerns about ethics 2021 Reference Form - Section: 5.4 – Integrity Mandatory 16 1; 2; 4 & Transparency;
Program (Page 219) EM-MM-510a.1
GOVERNANCE
102-18 Governance structure Pages 44 and 46 Mandatory 16 1; 2; 4
102-19 Delegating authority Pages 46 and 47 Mandatory 16 1; 2; 4
102-20 Executive-level responsibility for

Pages 45 and 46 Mandatory 16 1; 2; 4
economic, environmental, and social topics
GRI 102: 102-21 Consulting stakeholders on economic,
General Pages 8 and 112 Mandatory 16 1; 2; 10
environmental, and social topics
Disclosures
2016 102-22 Composition of the highest governance
Pages 45 and 46 Mandatory 5; 16 1; 2
body and its committees
Page 44; The CEO does not accumulate the po-

102-23 Chair of the highest governance body Mandatory 16 1; 2
sition of Chairman of the Board of Directors
102-24 Nominating and selecting the highest go- Pages 45 and 46; further information can be found in
Mandatory 5; 16 1; 2
vernance body Form 20F 2021: Section: Management and employees
126

GRI 102:
Pages 52; further information can be found in
General
102-25 Conflicts of interest the Policy on Related Party Transactions and Mandatory 16 1; 2
Disclosures Conflict of Interest.
2016
102-26 Role of highest governance body in setting
Page 45 Mandatory 16 1; 2
purpose, values, and strategy

102-27 Collective knowledge of highest found in the Proxy Statement Annual General
Mandatory 4 1; 2
governance body Meeting of Shareholders 2022: Section -
Performance of the Board of Directors (Page 36)
Page 46; further information can be found

102-28 Evaluating the highest governance body’s
in the 2021 Reference Form - Section: Mandatory 16 1; 2
performance
Administrative structure
102-29 Identifying and managing economic,

Page 46 Mandatory 16 1; 2
environmental, and social impacts
GRI 102:
General Pages 46 and 48; further information can be
Disclosures 102-30 Effectiveness of risk management processes Mandatory 16; 6 1; 2; 4
found in Form 20F 2021 - Section: 4. Risk factors
2016
102-31 Review of economic, environmental, and
in the Internal Rules of the Sustainability Mandatory 16 1; 2; 4
social topics
Comnittee, Chapter 5 - Meetings
102-32 Highest governance body’s role in

Pages 7 and 46 Mandatory 16 1; 2
sustainability reporting
Page 48; further information can be found in

102-33 Communicating critical concerns Mandatory 16 1; 2; 10
the Form 20F -2021

102-34 Nature and total number of critical
found in the 2021 Reference Form - Section: Mandatory 16 1; 2; 10
concerns
Risk Factors
127


in the 2021 Reference Form - Section 13.1 -
Compensation policy or practice of the board of
102-35 Remuneration policies Mandatory 1; 2
directors, statutory and non-statutory board,
fiscal council, statutory committees and audit,
risk, financial and compensation committees

GRI 102: found in the 2021 Reference Form - Section:
Seção - 13.1 - Compensation policy or practice
General
102-36 Process for determining remuneration of the board of directors, statutory and non- Mandatory 1; 2
Disclosures statutory board, fiscal council, statutory
2016 committees and audit, risk, financial and
compensation committees

the 2021 Reference Form - Section: Seção -
13.1 - Compensation policy or practice of the
102-37 Stakeholders’ involvement in remuneration board of directors, statutory and non-statutory Mandatory 10
board, fiscal council, statutory committees
and audit, risk, financial and compensation
committees
128

Information
subject to
specific
confidencial
restrictions: Vale
does not disclose
the annual total
compensation
of the
GRI 102: organization's
highest-paid
General
102-38 Annual total compensation ratio Omitted Mandatory individual due to 8; 10 1; 2
Disclosures the sensitivity of
2016 the information
and for
confidentiality
reasons. We
are in a process
of gradual
improvement in
order to disclose
this information
to the market
129

Information
subject to
specific
confidencial
restrictions: Vale
does not disclose
the annual total
compensation
of the
GRI 102: organization's
highest-paid
General 102-39 Percentage increase in annual total
Omitted Mandatory individual due to 8; 10 1; 2
Disclosures compensation ratio
the sensitivity of
2016 the information
and for
confidentiality
reasons. We
are in a process
of gradual
improvement in
order to disclose
this information
to the market
STAKEHOLDER ENGAGEMENT
102-40 List of stakeholder groups Page 112 Mandatory 10
102-41 Collective bargaining agreements Page 91 Mandatory 8 3

GRI 102:
General
102-42 Identifying and selecting stakeholders Pages 8 and 112 Mandatory 10
Disclosures
2016
102-43 Approach to stakeholder engagement Page 112 Mandatory 10
102-44 Key topics and concerns raised Page 112 Mandatory 10
130

REPORTING PRACTICE
Page 07; The financial statements can be checked

102-45 Entities included in the consolidated
at the following link. All entities controlled by Vale Mandatory
financial statements
are covered in the Integrated Reporting.
102-46 Defining report content and topic Page 07 and 08; further information can be
Mandatory
Boundaries found in Form 20F 2021
102-47 List of material topics Pages 9 to 18 Mandatory
102-48 Restatements of information Page 71 Mandatory
Page 07; There have been no significant changes in

102-49 Changes in reporting Mandatory
the material topics since the last Integrated Report.
102-50 Reporting period Page 07 Mandatory
April 2021; further information can be found on

GRI 102: 102-51 Date of most recent report Mandatory
page 07
General
Disclosures Annual; further information can be found on
102-52 Reporting cycle Mandatory
page 07
2016
102-53 Contact point for questions regarding the report Page 07 Mandatory 10
This report has been prepared in accordance with

102-54 Claims of reporting in accordance with the
the GRI Standards: "Comprehensive option"; more Mandatory
GRI Standards
information can be found on page 07
102-55 GRI content index Page 124 Mandatory
Page 07 and 122; Vale's external verification process is

required by its membership of the International Council
on Mining and Metals (ICMM) and the GRI Sustainability
102-56 External assurance Reporting Standards. In 2021, for publication of the text Mandatory
of the Integrated Report, the document was validatedy
the Executive Committee, the Sustainability Committee,
and the Board of Directors.
131

MATERIAL TOPICS - 200 SERIES (ECONOMIC TOPICS)
ECONOMIC PERFORMANCE
103-1 Explanation of the material topic and its
Page 11 Material
GRI 103: Boundary
Management
Approach 103-2 The management approach and its components Page 11 and 59 Material
2016
103-3 Evaluation of the management approach Page 11 and 59 Material
201-1 Direct economic value generated and

Page 59, 60 and ESG Databook: "Governance" Material 2; 8 9
distributed
ESG Databook: ""GRI - Economic"" tab

Greenhouse
201-2 Financial implications and other risks and Vale Climate Change Report 2021;
GRI 201: Material 13 4; 6 Gas Emissions;
opportunities due to climate change Form 20F -2021 Section: Description of Risk
EM-MM-110a.2
Economic Factors
Performance Page 91; further information can be found
2016 201-3 Defined benefit plan obligations and other in the 2021 Reference Form (Item "14.3 -
Material 3 3
retirement plans Description of Employees' Compensation Policy"
sub-item "b. benefits policy")
201-4 Financial assistance received from government No government assistance was received Material
INDIRECT ECONOMIC IMPACTS

Page 18 Material
GRI 103: Boundary
Management
103-2 The management approach and its components Page 18 and 107 Material
Approach
2016
103-3 Evaluation of the management approach Page 18 and 107 Material
132

203-1 Infrastructure investments and services Pages 53 and 107 and "Social" tab - topic: Social
GRI 203: Material 7; 9; 11 9
supported Investment
Indirect
Economic
Impacts
2016 203-2 Significant indirect economic impacts ESG Databook: "GRI - Economic" tab Material 1; 2; 3; 8 9
MATERIAL TOPICS - 200 SERIES (ECONOMIC TOPICS)
PROCUREMENT PRACTICES
GRI 204:
Procurement
204-1 Proportion of spending on local suppliers Page 110 Non-material
Practices
2016
ANTI-CORRUPTION

Pages 10 Material
Boundary
GRI 103:
Management 103-2 The management approach and its
Pages 10, 50 and 52 Material
Approach components
2016
103-3 Evaluation of the management approach Pages 10 and 50 Material
133

Business Ethics
205-1 Operations assessed for risks related to & Transparency;
Pages 50 and 52 Material 16 1
corruption EM-MM-510a.1;
EM-MM-510a.2
GRI 205:
Business Ethics
Anti- 205-2 Communication and training about anti-
Pages 50 and 51 Material 16 1; 2 & Transparency;
corruption corruption policies and procedures
EM-MM-510a.1
2016
Business Ethics
205-3 Confirmed incidents of corruption and
Pages 52 Material 16 1 & Transparency;
actions taken
EM-MM-510a.1
ANTI-COMPETITIVE BEHAVIOR

Pages 10 Material
Boundary
GRI 103:
Pages 10 and 52 Material
Approach components
2016
GRI 206:
Anti- 206-1 Legal actions for anti-competitive behavior,
Pages 52 and 70 Material 16 1
competitive anti-trust, and monopoly practices
Behavior
134

300 SERIES (ENVIRONMENTAL TOPICS)
ENERGY
Page 11 Material
GRI 103: Boundary
Page 70 Material
Approach components
2016
Energy
302-1 Energy consumption within the organization Pages 70 and 71 Material 7 6; 8 Management;
EM-MM-130a.1
Energy
302-2 Energy consumption outside of the Page 70; further information can be found in
Material 7 6; 8 Management;
organization the ESG Databook: "GRI - Environmental" tab
EM-MM-130a.1
Energy
GRI 302:
302-3 Energy intensity Pages 70 and 71 Material 7 6; 8 Management;
Energy 2016 EM-MM-130a.1
Energy
302-4 Reduction of energy consumption ESG Databook: "GRI - Environmental" tab Material 7 6; 8 Management;
EM-MM-130a.1
Energy
302-5 Reductions in energy requirements of
Disclosure not applicable to mining setor Material 7 6; 8 Management;
products and services
EM-MM-130a.1
135

WATER AND EFFLUENTS
103-1 Explanation of the material topic and its Boundary Page 13 Material
GRI 103:
Management
103-2 The management approach and its components Page 80 Material
Approach
2016
103-3 Evaluation of the management approach Page 80 Material

303-1 Interactions with water as a shared resource Material
the ESG Databook: "GRI - Environmental" tab
303-2 Management of water discharge-related Page 69; further information can be found in
Material
impacts the ESG Databook: "GRI - Environmental" tab
GRI 303: Water
Water and 303-3 Water withdrawal ESG Databook: "GRI - Environmental" tab Material 6 6 Management;
effluents EM-MM-140a.1
2018
Water
303-4 Water discharge ESG Databook: "GRI - Environmental" tab Material 6 6; 8 Management;
EM-MM-140a.1
303-5 Water consumption ESG Databook: "GRI - Environmental" tab Material 6; 12
BIODIVERSITY
GRI 103:
Management
103-2 The management approach and its components Pages 12 and 77 Material
Approach
2016
136

304-1 Operational sites owned, leased, managed Biodiversity

in, or adjacent to, protected areas and areas of Page 77 Material 14; 15 2; 7 Impacts;
high biodiversity value outside protected areas EMMM-160a.1
Biodiversity
Impacts;
304-2 Significant impacts of activities, products, EMMM-160a.1;
ESG Databook: "GRI - Environmental" tab Material 14; 15 7
GRI 304: and services on biodiversity Community
Biodiversity Relations;
2016 EMMM-210b.2
Biodiversity
304-3 Habitats protected or restored Page 77 Material 14; 15 6; 7 Impacts;
EMMM-160a.1
304-4 IUCN Red List species and national

conservation list species with habitats in areas Page 77 Material 14; 15 7
affected by operations
EMISSIONS
GRI 103:
Management
Approach
2016
137

305-1 Direct (Scope 1) GHG emissions Page 70 and 71 Material
305-2 Energy indirect (Scope 2) GHG emissions Page 70 Material
305-3 Other indirect (Scope 3) GHG emissions Pages 70 and 74 Material
GRI 305:
Emissions 305-4 GHG emissions intensity Pages 70 and 71 Material
2016
305-5 Reduction of GHG emissions Page 71 Material
305-6 Emissions of ozone-depleting substances

ESG Databook: "GRI - Environmental" tab Material
(ODS)
305-7 Nitrogen oxides (NOX), sulfur oxides (SOX),

Pages 81 and 82 Material
and other significant air emissions
ENVIRONMENTAL COMPLIANCE
GRI 103:
Management
Approach
2016
GRI 307:
Water
Environmental 307-1 Non-compliance with environmental laws
Page 52 Material 6 Management;
Compliance and regulations.
EM-MM-140a.2
2016
138

400 SERIES (SOCIAL TOPICS)
EMPLOYMENT
GRI 103:
Management
Approach
2016
401-1 New employee hires and employee turnover Page 90 Material 5, 8, 10 3
GRI 401: 401-2 Benefits provided to full-time employees

Employment that are not provided to temporary or part-time Page 91 Material 3, 5, 8 3
2016 employees
401-3 Parental leave ESG Databook: "GRI - Social" tab Material 5, 8 3
OCCUPATIONAL HEALTH AND SAFETY
GRI 103:
Management
Approach
2016
139

403-1 Occupational health and safety

ESG Databook: "GRI - Social" tab Material 3; 8
management system
403-2 Hazard identification, risk assessment, and

incident investigation
403-3 Occupational health services ESG Databook: "GRI - Social" tab Material 3; 8
403-4 Worker participation, consultation, and

communication on occupational health and safety
403-5 Worker training on occupational health and

GRI 403: ESG Databook: "GRI - Social" tab Material 3; 8
safety
Occupational
Health and
403-6 Promotion of worker health ESG Databook: "GRI - Social" tab Material 3; 8
Safety 2018
403-7 Prevention and mitigation of occupational

health and safety impacts directly linked by ESG Databook: "GRI - Social" tab Material 3; 8
business relationships
403-8 Workers covered by an occupational health

ESG Databook: "GRI - Social" tab Material 3; 8 5
and safety management system
Workforce
403-9 Work-related injuries Page 86 Material 3; 8 5 Health & Safety;
EM-MM-320a.1
403-10 Work-related ill health ESG Databook: "GRI - Social" tab Material 3; 8 5
140

TRAINING AND EDUCATION
GRI 103:
Management
Approach
2016
404-1 Average hours of training per year per em-

Página 92 Material 8
ployee
GRI 404:
Training and 404-2 Programs for upgrading employee skills and
Página 92 Material 8
Education transition assistance programs
2016 404-3 Percentage of employees receiving regular
ESG Databook: aba "GRI - Social" Material 8
performance and career development reviews
DIVERSITY AND EQUAL OPPORTUNITY
GRI 103:
Management
Approach
2016
GRI 405: 405-1 Diversity of governance bodies and

Pages 94, 95 and ESG Databook: "GRI - Social" tab Material 5 3
Diversity employees
and Equal
Opportunity 405-2 Ratio of basic salary and remuneration of
Página 91 Material 5 3
women to men
2016
141

NON-DISCRIMINATION
GRI 103:
Management
103-2 The management approach and its components Pages 17, 50 and 51 Material
Approach
2016
103-3 Evaluation of the management approach Pages 17, 50 and 51 Material
GRI 406:
Non- 406-1 Incidents of discrimination and corrective
Page 51 Material 5; 8; 16 3
-discrimination actions taken
2016
FREEDOM OF ASSOCIATION AND COLLECTIVE BARGAINING
GRI 103:
Management
Approach
2016
GRI 407:
Freedom of
Association 407-1 Operations and suppliers in which the Labor
and right to freedom of association and collective Page 91 Material 8 3 Relations;
Collective bargaining may be at risk EM-MM-310a.1
Bargaining
2016
142

CHILD LABOR
GRI 103:
Management
Approach
2016
GRI 408:
408-1 Operations and suppliers at significant risk
Child Labor for incidents of child labor
2016
FORCED OR COMPULSORY LABOR
GRI 103:
Management
Approach
2016
GRI 409:
Forced or 409-1 Operations and suppliers at significant risk
Compulsory for incidents of forced or compulsory labor
Labor 2016
143

SECURITY PRACTICES
GRI 103:
Management
Approach
2016
GRI 410:
Security 410-1 Security personnel trained in human rights
Page 99 Material 16 3
Practices policies or procedures
2016
RIGHTS OF INDIGENOUS PEOPLES
GRI 103:
Management
103-2 The management approach and its components Page 17, 100 and 101 Material
Approach
2016
103-3 Evaluation of the management approach Page 17, 100 and 101 Material
Security,
GRI 411: Human Rights
Rights of & Rights of
411-1 Incidents of violations involving rights of
Indigenous indigenous peoples
ESG Databook: "GRI - Social" tab Material 11 3 Indigenous
Peoples Peoples;
2016 EMMM-210a.2;
EM-MM-210a.3
144

HUMAN RIGHTS ASSESSMENT
GRI 103:
Management
103-2 The management approach and its components Pages 17, 99 and 100 Material
Approach
2016 103-3 Evaluation of the management approach Pages 17, 99 and 100 Material
412-1 Operations that have been subject to human

Pages 99 Material 16 3
rights reviews or impact assessments
GRI 412: 412-2 Employee training on human rights policies
Human Page 99 Material 16 3
or procedures
Rights
There were no significant agreements and
Assessment
412-3 Significant investment agreements and contracts, i.e. investments related to transactions
2016 contracts that include human rights clauses or involving acquisitions, mergers or incorporation of Material 16 3
that underwent human rights screening companies, in 2021. All of the company's contracts
include Human Rights clauses.
LOCAL COMMUNITIES
GRI 103:
Management
Approach
2016
413-1 Operations with local community Community

GRI 413: engagement, impact assessments, and Page 102 Material 8; 11 9; 10 Relations;
Local development programs EMMM-210b.1
Communities Community
413-2 Operations with significant actual and
2016 ESG Databook: "GRI - Social" tab Material 8; 11 9; 10 Relations;
potential negative impacts on local communities
EMMM-210b.1
145

SOCIOECONOMIC COMPLIANCE
GRI 103:
Management
Approach
2016
GRI 419:
Socioeco-
419-1 Non-compliance with laws and regulations in
nomic the social and economic area
Page 52 Material 9
Compliance
2016
MATERIAL ISSUE NOT COVERED BY A SPECIFIC GRI STANDARD
Dams 103-1 Explanation of the material topic and its Boundary Page 9 Material
GRI 103:
Management 103-2 The management approach and its components Page 9 e 36 Material
Approach
2016 103-3 Evaluation of the management approach Page 9 e 36 Material
SECTOR SPECIFIC INDICATORS
Biodiversity 103-1 Explanation of the material topic and its Boundary Page 12 Material
- GRI 103:
Management 103-2 The management approach and its components Pages 12 and 77 Material
Approach
2016 103-3 Evaluation of the management approach Pages 12 and 77 Material
146

MM1 - Amount of land (owned or leased, and ma- Biodiversity

naged for production activities or extractive use) Page 77 Material 6; 12; 15 6; 7 Impacts;
disturbed or rehabilitated EMMM- 160a.3
Biodiversity MM2 - The number and percentage of total sites
Biodiversity
identified as requiring biodiversity management
Page 77 Material 14; 15 2; 6; 7 Impacts;
plans according to stated criteria, and the number
EMMM- 160a.3
(percentage) of those sites with plans in place
Efluents 103-1 Explanation of the material topic and its Boundary Page 9 Material
and Waste
- GRI 103: 103-2 The management approach and its components Pages 9 and 41 Material
Management
Approach
2016
Waste &
Hazardous
Materials
Management;
Effluents MM3 - Total amounts of overburden, rock, EM-MM-150a.1;
Page 41 Material 3; 6; 9; 12 6
and Waste tailings, and sludges and their associated risks EM-MM-150a.2;
EM-MM-150a.3;
Biodiversity
Impacts;
EMMM- 160a.2
Indigenous 103-1 Explanation of the material topic and its Boundary Page 18 Material
Rights - GRI
103: 103-2 The management approach and its components Pages 18 and 100 Material
Management
Approach
2016
147

Security,
MM5 - Total number of operations taking place
Human Rights
in or adjacent to indigenous peoples’ territories,
Indigenous & Rights of
and number and percentage of operations or Page 100 Material 11 3
Rights Indigenous
sites where there are formal agreements with
Peoples;
indigenous peoples’ communities
EMMM-210a.2
Local 103-1 Explanation of the material topic and its Boundary Page 18 Material
Communities
- GRI 103: 103-2 The management approach and its components Pages 18 and 106 Material
Management
Approach
2016
Security,
Human Rights
MM6 - Number and description of significant
& Rights of
disputes relating to land use, customary rights of Page 106 Material 11 3
Indigenous
local communities and indigenous peoples
Peoples;
Local
EMMM-210a.1
Communities
Security,
MM7 - The extent to which grievance mechanisms Human Rights
were used to resolve disputes relating to land use, & Rights of
Page 106 Material 11 9; 10
customary rights of local communities and indige- Indigenous
nous peoplles, and the outcomes Peoples;
EMMM-210a.3
148

Resettlement 103-1 Explanation of the material topic and its Boundary Page 18 Material
- GRI 103:
Management 103-2 The management approach and its components Pages 18 and 105 Material
Approach
Community
MM9 - Sites where resettlements took place, the
Relations;
Resettlement number of households resettled in each, and how Pages 32 and 105 Material 11 3
EMMM-210b.1;
theis livellihoods were affected in the process
EM-MM-210b.2
Closure 103-1 Explanation of the material topic and its Boundary Page 14 Material
Planning
- GRI 103:
Management
Approach
Community
Closure MM10 - Number and percentage of operations Relations;
Page 83 Material
Planning with closure plans EMMM-210b.1;
EM-MM-210b.1
149
Credits
PHOTO: VITOR NOGUEIRA
Realization
Executive Vice-presidency of Sustainability
ESG Consulting in Integrated Reporting and

integrated editorial project
grupo report – rpt.sustentabilidade and rpt.com
Materiality
usina82
Technical support GRI, SASB, WEF indicators

EY
External assurance
PwC
Photos
Vale Image Bank and collection (photo credits)
Cover: In the photo Uenice Cunha Correa (Vale) and

Albertina Pereira Lima, at Cedere 1, in the "Quintal
Produtivo" social investment project, implemented
2019 in partnership with Vale, in Parauapebas,
Pará. Photo: Alexandre Rezende, Agência Nitro.
We would like to thank all employees who were

directly or indirectly involved in preparing the
Integrated Report 2021.
Wagons full Published on May, 2022.
of Iron Ore at
Tubarão unit, in
Vitória, Espírito
Santo state
150

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Integrated

Letter from the Chairman

Vale's structural change in corporate governance

independent members Penido, Chairman of

We are attentive to the pursuit of safe

Regarding the critical point of dam safety,

Reporting Process Conversion adopted for the dollar

PHOTO: RICARDO TELES

Through consultation, we captured

Material Topic: Dams GRI 102-47

Material topic: Governance and Compliance GRI 102-47

Material topic: Climate Change GRI 102-47

Material topic: Biodiversity GRI 102-47

Material topic: Ecoefficiency GRI 102-47

Material topic: Mine closure and future use GRI 102-47

Material topic: Health and safety GRI 102-47

Material topic: People GRI 102-47

Material topic: Human Rights GRI 102-47

Material topic: Local Communities GRI 102-47

Vale | Integrated Report 2021

We have a mineral exploration process and operate

Vale has been publicly-held corporation since 1970

Purpose and Values

We exist to improve life Values Levers

This is a story of transformation: of the ore, the

Doing it together means listening, but this listening

OUR STRATEGIC PILLARS

PILLAR SCOPE ADVANCES IN 2021 MAIN CHALLENGES

*Considers the assets grouped in operational sites, which

PILLAR SCOPE ADVANCES IN 2021 MAIN CHALLENGES

*UN Declaration on the Rights of Indigenous Peoples

PILLAR SCOPE ADVANCES IN 2021 MAIN CHALLENGES

Learn more Learn more

Maximizing our value delivery Common policies, guidelines and

Resumption of Opportunity for Talent-driven

Brumadinho and 25 municipalities of the The implementation of the actions foreseen in

ONGOING ACTIONS IN THE EVACUATED TERRITORIES

• Accelerate the region's reparation and

Mariana involve more than 70 entities working in partnership

Renegotiation of the Programs of the

PHOTO: FUNDAÇÃO RENOVA ARCHIVE

Where are Vale's

In Ferrous Mineral operations, all

SOLUTIONS AND TECHNOLOGIES TO Vale has already invested

projects that seek to reduce

Processing to maintain and monitoring of the structures.

Three Geotechnical natural moisture

PHOTOS: VALE ARCHIVE

Learn more We also completed the construction of the

February 2022 Vale signed a Term of Commitment with FORECAST FOR

Sustainable Filtered Vargem Grande

Learn more Learn more

Serra Sul Complex, S11D.

PHOTO: RICARDO TELES

Vale | Integrated Report 2021

On December 31, 2021, Vale S.A.'s share capital

consisted of 5,132,458,398 common shares and 12

Governance and Compliance 1. Governance Structure 2. Risk Management 3. Compliance 44

The Board of Directors is responsible for

Governance and Compliance 1. Governance Structure 2. Risk Management 3. Compliance 45

For more information on the regular evaluation

conducted in 2020, in the Integrated Report 2020.

Fixed Compensation Short Term Incentive