Fundão dam: The Reparation to date

Fundão dam: The reparation to date

November 13th, 2020

"This presentation may include statements that present Vale's expectations about future events or results. All statements, when based upon expectations about the future and not on historical facts, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM) and in particular the factors discussed under "Forward-Looking Statements" and "Risk Factors" in Vale's annual report on Form 20-F."

"Cautionary Note to U.S. Investors - The SEC permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We present certain information in this presentation, including 'measured resources,' 'indicated resources,' 'inferred resources,' 'geologic resources', which would not be permitted in an SEC filing. These materials are not proven or probable reserves, as defined by the SEC, and we cannot assure you that these materials will be converted into proven or probable reserves, as defined by the SEC. U.S. Investors should consider closely the disclosure in our Annual Report on Form 20-K, which may be obtained from us, from our website or at http://http://us.sec.gov/edgar.shtml."

Disclaimer

1. Governance
2. Environment
3. Ressettlement
4. Indemnification
5. Going Beyond Reparation
6. Closing

Agenda

Governance

Fundão dam breach

19 fatalities

39

municipalities

670 km impact

MARIANA

GOVERNADOR

VALADARES

LINHARES

COLATINA

40 million m3 of tailings

10 million m3

of tailings were deposited on the bed and banks of the Gualaxo do Norte and Carmo rivers

10 million m3

of material were deposited at the dam of the Risoleta Neves Hydroelectric Power Plant (Candonga)

20 million m3

tailings followed the flow of water courses and part reached the sea on November 22, 2015

5

5

Our goal is to fully repair the damage caused by 2025

42 programs

People and		Land and Water		Reconstruction &
Community			Infrastructure

Ourstrategy
Build the houses	Pay the people	Lift the fishing ban

6

6

6

Renova Foundation's activities are framed within a participatory

and complex governance model

Renova's simplified internal governance

Fiscal Council

RENOVA

BOARD OF

DIRECTORS1

Consultive Board
Compliance &				7 Board
Audit				Advisory
			Committees

Ombudsman

EXECUTIVE BOARD

Renova's simplified external governance

Interfederative

FOUNDATION	Committee

Impacted	11 Technical
Chambers
communities
21 impacted territories
21 Local	6 Regional
Commissions	Chambers

Public authorities

Technical advisors

7

1 Composed by the affected people, Vale, BHP and the Interfederative Committee.

7

7

Reparation activities are closely overseen by Vale's senior

management and Board members

Vale's simplified governance structure

Executive Committees

Sustainability and

Reputation Business

Risks Executive

Committee

Fiscal

Council

Board of Directors

CEO & Executive

Officers

Board Committees

Sustainability,

Finance and Audit

Committees

Renova Foundation

Issues Officer

8

8

8