Vale S A : 2023 Vale's Sustainability Committee Annual Report

Sustainability Committee' Report of Vale S.A.

2023

The purpose of this report is to present the main actions carried out by the Sustainability Committee ("CSUS") in 2023; and to present the Committee's perspectives for the next year, based on the guidance of the Board of Directors ("BoD") and on Vale's regulations.

PRESENTATION

Committee creation date

CSUS was created on November 17, 2017, and its Internal Regulations were updated in December 2022 to reinforce its strategic position, aligned to the Vale S.A. ("Vale" or "Company") Bylaws amendment, approved at the Extraordinary Shareholders' Meeting held on that same month.

Committee's composition and structure

CSUS is composed of Rachel Oliveira Maia, as Chair; André Madeira Viana, João Fukunaga, and Paulo Hartung, as members.

The Committee further counts on Carlo Linkevieius Pereira as external expert consultant.

Main attributions and responsibilities of the Committee

The purpose of CSUS is to advise the BoD in making decisions to guarantee alignment of the Company's policies and practices with sustainability in the social, environmental, climate, and economic dimensions, strengthening strategic discussions between the executives and the directors, through their recommendations and proposed challenges.

MAIN INDEX

Quantitative analysis of meetings

CSUS met 9 times in 2023 (17 times in 2022), with 6 ordinary meetings and 3 extraordinary meetings.

Adherence rate of the Committee members

The attendance of members was 98% during the year, and 91% in 2022.

Average lasting of the Committee's meetings

Throughout 2023, CSUS met for 25 hours, and its meetings lasted 3 hours on average. Its meetings were divided into 67 agendas, distributed among 60 informative themes and 7 themes for advising to the Company's Board of Directors.

Quantitative analysis of the Committee's workplan and demands

The meetings held on 2023 observed the schedule of agendas contained in the respective annual workplan, and approximately 88 additional demands of the Committee were addressed during the year.

HIGHLIGHTS OF THE YEAR

Summary of the main activities developed by the Committee in 2023

During 2023, the Committee performed its duties, aligned with the best interest of the company and with the competences set forth in its internal regulations, among which stands out the following:

• Adoption of the Vale's Sustainability global strategic dashboard for a consolidated monitoring of the Company's initiatives;
• Analysis of matters related to Environmental, Social, and Governance themes ("ESG"), by means of specific sessions on Nature and Biodiversity, Climate Change and Decarbonization, water resources management, environmental licensing, Human Rights and relationship with the various stakeholders - including Quilombola communities, indigenous peoples, and Vale's commitment to support the exit of 500 thousand people from extreme poverty in Brazil;
• Discussion with the executives on Vale's initiatives in Education and Technical Qualification;
• Monitoring of the Brumadinho socioenvironmental recovery plan and monitoring of the reparation actions in Mariana;
• Monitoring of the company's strategy to communicate with the communities in which Vale is inserted;
• Interaction with communities with critical relations with Vale during a visit to Pará, in Brazil;
• Monitoring of the communities' perception on Vale, based on the result of the last survey carried out;
• Monitoring of Vale's participation in sustainability events, such as COP-28;
• Assessment and guidance on policies for which it is responsible, such as review of the
  Company's Sustainability and Human Rights Policy, adjusting them to the current scenario;
• Monitoring of Vale's external socio-environmental and institutional expenditures, and recommendation of the budget proposal for 2024 for the Company to advance the 2030 commitments.

Within the scope of the projects, should be noted the discussion on the management of territories where Vale is present and on projects of future use presented for these territories after the mine is closed. Furthermore, the Committee reinforced the importance of an ESG approach in all Vale's projects, as from the creation of each project.

The actions of CSUS in 2023 were also marked by its active contribution in the review of the materiality of Vale's 2002 Integrated Report.

OUTLOOK FOR THE NEXT YEAR

Final considerations

In 2024, CSUS will remain focused on acting to guide the Company for the ESG principles to be transversal to the business and the initiatives to be aligned to Vale's global strategy.