Slide 1: Vale's performance in 2026
eA Rio de Janeird, July 30", 2026 VALE Vale’s performance in 2026 “We defivered sofd year-on-year results across al businesses, with iron ore reaching its highest 02 production since 2018 and copper its best €2 in nine years, Gur strong EBITDA and cash flow generation demonstrate Vale's strength and
Slide 2: Iron Ore Solutions, Vale Base Metals and other developments
Iron Ore Solutions + The Serra Sul +20 project started in July, with the commissioning of the second long-distance conveyor belt system. The project, which also includes mine and plant expansions, will provide greater operational flexibility and, once fully ramped-up, is expected to add 20 Mtpy of p
Slide 3: Financials
Financials US$ milion Proforma EBITDA Net operating revenues ‘coes SceA Research and development Pre-operating and stoppage expenses Brumadinho & decharacterization of dams* ‘Other operational expenses? Non-recurring expenses Streaming EBITDA from associates and V's ‘Adjusted E8mT Depreciation, amor
Slide 4: Proforma EBITDA was US$ 4.1 billion in 2026
Proforma EBITDA was US$ 4.1 billion in 2026, 19% higher y/y, mainly driven by (i) stronger reference prices and (li) higher sales volumes across all business segments. These effects were partly offset by exogenous effects such as: () increased freight costs, mainly due to higher bunker fuel prices,
Slide 5: Capital Expenditures
Capital Expenditures Total CAPEX US$ million 2026] 2025 Ay/y 1026 Ag/ql 6M26| 6M25 Ay/y Iron Ore Solutions wo] 763 7% 8-2 657] 1670 1% Vale Base Metals 24] 230 % 26 26 So] 536 5% Copper ve] 6s 82% 8933] 207], 122 70% Nickel ‘| 5-H 303) 4 27% Energy and others 2 0 10% = 5 50) 738% Total sya] 1053 7%
Slide 6: Free cash flow
Free cash flow US$ million Ayly 1036 Proforma EBITDA’ 19% 3.895 Working capita? na. (63) Capex 7% (1083) Net financial expenses? na a) Income taxes and REFIS -42% G2) ‘Associates & JV, net of dvidends received 24% 205) Brumadinho incurred expenses &. darns* 32% (87) Streaming? 3% 057) Others 9% (36)
Slide 7: Debt
Debt Us$ milion eR] 0s ayy 08g Gross debt" 18,304 17146 ™% 18,196 1% Lease (FR 6) a re er cro dat rd aaS ase) ess oT % Cash, cash equivalents and short-term investments 7s] 60) a) Net debt in| ums esse ‘Currency swaps? G67) (009) 237% (422) ~13% Brumainho provisions 2) a re cr es Samato provisiens n
Slide 8: Segments' Performance
Segments’ Performance Adjusted EBITDA by business area: US$ million Iron Ore Solutions Fines 24d Pellets B% 49 ‘Other ferrous products and logistics services: i) Vale Base Metals Copper 2025 Ayly Nickel 242 136% other oy 8% Unallocated items’ 603) -3% 6636 20% Brumadinho & decharacterization of dams
Slide 9: Iron Ore Solutions
‘6 or Iron Ore Solutions Highlights Average Prices (US$/t) Iron ore 6196 Fe price iron ore fines realized price, CFR/FOS iets realized price, CFR/FOR 729,381] 124,441 5447] 4,976 3% 331] 4071 Total iron ore 43.487 Financials indicators (USS million) Net Revenues 7eee] 696336 6a75 13338186 |Costs’ (4
Slide 10: Iron Ore Fines
Iron Ore Fines Product mix Mid-Grade Carajés Pellet feed - China (PFC)? Lump 3396 28% high-silica products 5803 -71% Other fines (60-62% Fe) B20 1% "a pty pce Pros concent inci fans Revenues The average realized iron ore fines price was US$ 95.0/t, US$ 0.8/t lower q/q, mainly reflecting the negative
Slide 11: Costs and expenses
Costs and expenses Iron ore fines and pellets all-in costs (cash cost break-even landed in China) uss/t 73026] 2025 ay/y 1026 mas ayly Ct cash cost, ex-third-party purchase costs wal 22 9% 236 m7 10% Third-party purchases cost adjustments ie, ar es 393% Freight cost” 20] 83 20% eA 14 10% Distributio
Slide 12: Iron ore all-in cost guidance revised to US$58-62/t
‘The iron ore all-in cost guidance has been revised to USS$58-62/t (from US$52-56/t previously), mainly reflecting changes in external assumptions, including () oil and related-product prices, with an average Brent oil price assumption of [US586/bbI in 2026 versus US$68/bbI previously (USS +3.3/t),
Slide 13: Vale Base Metals
Vale Base Metals Highlights US6 million 3036] 2025 Ayly 1026 Aa/a{ M26] M25 Ayly Net Revenues r 1aei 42% 2,383 1056-4993] 3,585 39% costs! 1533] (1220 26% 6.376) T_@.909) (2500) 16% SG8A and other expenses'® 6} Ge) GH) (704) 54% R&D expenses C a a 8) 0% Pre-operating and stoppage expenses’ =| (0) na
Slide 14: Copper
Copper US$ million (unless otherwise stated) 2026) M25 ayly LME copper price (USS/t) Pe) 9431 39% Average realized copper price (USS/t) 14,062 8940 52% Volume sold ~ copper (kt) 78 a 18% Net Revenues 4555 1858 60% Costs! (79) my 2% Seling and other expenses' c (na ReDexpenses! @ 20) 40% Pre-operatin
Slide 15: Costs & Expenses
Costs & Expenses All-in costs (EBITDA break-even) uss/t 026] 2025 Ayly 1026 mas ayly oss 6169] 6057 2% 5,825 582 4% By-product revenues 6845) (4.962) 38% 7,057) (4265) 43% COGS after by-product revenues (676) 1095 na, (4,32) oer na. Other expenses’ 39] 73% 88 m5 43% Total costs G57) 1232 na. (844) 1
Slide 16: Nickel
Nickel US§ million (unless otherwise stated) 2ai6] 2025 Ayly 1026 LME nickel price wei] 15171 20% 17,356 Average realized nickel price 18.061] 15200 ux 17,015, Volume sold ~ nickel it) 7 Volume sold - copper (kt) 2) 23H Net Revenues aa| ton 3% 1184 Costs! (eo) 7s) 2% 10) Seling and other expenses! 4
Slide 17: Costs & Expenses
Costs & Expenses All-in costs (EBITDA break-even) uss/t 2026] 2025 Ay/y 1026 += Aq/q{ 6M26] 6M25 Ay/y cocs ex erteralfeed zes2| ze 7m 22525] m26e8| 2407 eh oes mis| 70s 20mm sa aoe] zis By-product revenues’ (10,31 (8,510) 2% (11,707) 128 (11,073) (7,963) 38% COGS afer bysprodict rae tio| 12233 -ton
Slide 18: Webcast information
Webcast information vale will host a webcast on Friday Thiago Lofiego Luciana oliveti Internet access to the webcast and presentation Pedro Terra materials wil be available on Vale website at ecko.terragual wes. vale.comfinvestors ‘A webcast replay will be accessible shortly after the completion of
Slide 19: Annex 1: Detailed Financial Information
Annex 1: Detailed Financial Information Simplified financial statements ss milion 2025 Ayly 1026, ‘eM26) 6M25 Net operating revenue 70496] 8504 19% ©9258 «taf 9,756] t6923 7% Cost of goods sold and services rendered (7294) (6085) 20% 6.173 (BMET] (TIS) TH Gross profit 3204] 279 18% 3.085 ase] 6259]
Slide 20: Balance sheet (US$ million)
USS million, Assets Current assets Cash and cash equivalents ‘Short term investments ‘Accounts receivable Other financial assets Inventories Recoverable taxes Other Non-current assets held for sale Non-current assets Judicial deposits (Other financial assets Recoverable taxes Deferred income taxes O
Slide 21: Cash flow statement (US$ million)
USS million ‘Cash flow from operations Payment of interest on loans, financing and other financial liabilities Receipts from the settlement of derivatives, net Payments related to Brumadinho Payments related to de-characterization of dams Interest on participative shareholders debentures paid Paymen
Slide 22: Reconciliation of IFRS and non-GAAP information
Reconciliation of IFRS and “non-GAAP” information (2) Adjusted EBT USS milion 2026] 2025 Ayly 1026 Net operating revenues 70498] 3804 19% 9.258 COGS (6,085) 20% (6,173) Sales and administrative expenses 3 34% (152) Research and development expenses (85) (59) 6% 3 Pre-eperating and stoppage expenses
Slide 23: Reconciliation between adjusted EBITDA and net income
Reconciliation between adjusted EBITDA and net income Ussmilion 2026] 2025 Ayly 1026 A/a owas Ay/y Adjusted EBITDA 3,676| 3,386 9% 3,630 4%) 7,506] 6,501 15% Depreciation, depletion and amortization (@r} (780) 7% ~—— ans} a (756) (1.484) 8% EBITDA from associates andjoint ventures Gas] 02) 1% 3a] (S
Slide 24: Revenues and volumes
Revenues and volumes Net operating revenue by business area US$ million, Iron Ore Solutions Fines ROM Pellets ‘Other ferrous products and logistics services Vale Base Metals Copper Nickel Gold as by-product" Siver as by-product PGMs Cobalt" Others? Total 3,804 1% 100% Ayly 1026 13% 6875 18% 5692 26%
Slide 25: Operating Expenses
Operating Expenses ss million SGeA Administrative Personnel Services Depreciation Others Selling RED Pre-operating and stoppage expenses Expenses related to Brumadinho event and decharacterization of dams Other operating expenses Total operating expenses Depreciation ‘Operating expenses, ex-depreci
Slide 26: Financial results
Financial results US$ million 205 Ayly 1026. Agia ems Ayly Financial expenses, of whi (404) 1% IB) =284 (736) 5% Gross interest 038) 7% (264) =A 462 2% Capitalization of interest 8 35% 5 oO 2 -7% Others (50) 5% (39) 294) 4% Financial expenses (REFIS) 24-25% (20) 10 (42) 10% Financial income 1 9% 5M
Slide 27: Annex 2: Segment information
Annex M Annex 2: Segment information Segment results 2026 Net Pre operating SGBAand operating & Adjusted| UsSmilion revenues others ReD' stoppage’ __EBITDA Streaming) _EBITDA\ Iron OreSolutions 7,888 Foes 6,641 Pebets 5,062 ‘Other ferrous products and 75 logistics services Vale Base Metals 66) (i) -
Slide 28: Segment information 1Q26 and 6M26
Segment information 1026 Net revenues Cost! __ others Iron OreSolutions 6875 (3,997) (2) Fes 6.245) 48) Pelets 4030687) o) eral and 133 65) 5) Vale Base Metals 2363. (1376) 74) ‘Copper* 1th (426) co) salebo 1018 (08) (2) sossego 435 (8) c} Other i) — 4) Nideer 1186 (910) @ Sudbury 675 (4a) ic) \Vois
Slide 29: Segment results 6M25
Segment results 6M25 Net Pre As operating sG&Aand operating andJVs Adjusted even Ss RED' stoppage’ _EBITDA EBITDA Iron resolutions (138) Fes a) a) 3) 2s =| Pekets 2 C} C) ES - base 6 24) 20) mI — m2 Vale Base Metals 3585 (2,504) (104) ( (2) a 335) 1275 Copper™ 1858 (741) (2) 20) O) = =| 1084: Salobo
Slide 30: Annex 3: Additional information by business segment
Annex 3: Additional information by business segment Iron Ore Solutions: Financial results detailed Volumes, prices, premium and revenues breakdown 2036) Volume sold (000 metric tons) Fines’ 69,946 toc 427 BREF 30,205) Mid-Grade Carajis 3014 Pellet feed - China (PFC? 7,863 Lump 2.244 High-siica produ
Slide 31: Volume sold by destination Fines, pellets and ROM
Volume sold by destination Fines, pellets and ROM “000 metric tons Ayly 1026 Agia! mas ayly Americas % 873 2M 17,980 1% Brazil =% 778 5H 163% 3% ‘Others 2% 09-2 1554 18% Asia 3% 53,997 194 1263 5% ‘china 5% 408s 25 e538 4% Japan 1% 590 +t 706% Others a a 72975 10% Europe Be 34 SH 740 _-3% ‘ceemany i
Slide 32: Iron ore fines costs & expenses
Iron ore fines costs & expenses COGS - 2026 vs. 2025 Exchange US$ million 2025 Volume rate Cieash costs 1781 6s 103 co) “7 11938 Freight 4,036 49 - 2 280) 376 Distribution costs 239 8 = 23 3 370 Royalties & others’ cal ry = 4 33 404) Total costs before depreciation and amortization 3,387 Bt 103 467
Slide 33: Project Details
Project Details Growth projects Comments Serra Sul +20 |Capacity: 20 Mtpy Start-up: 2H26 ‘Capex: US$ 2,844 million ‘ Commissioning of the Long-Distance 2 i, 88% Conveyor Belt began in July 2028. Financial Physical Sustaining projects Comments Progress Compact Crushing S110 A [Sean vile Electromechan
Slide 34: Vale Base Metals: Copper
Vale Base Metals: Copper Revenues & price realization Volume sold copper (000 metric tons) Gold as by-product (000 02) Silver as by-product (000 62) Average prices Average LME copper price (USS/t) Average copper realized price (USS/t) [Gold (uss/oz)" Silver (US8/02) Net revenue (US$ million) copper
Slide 35: Vale Base Metals: Nickel
Vale Base Metals: Nickel Revenues & price realization Volume sold (000 metric tons) Nickel [copper Gold as by-product (000 02) Silver as by-product (000 2) PGMs (000 02) Cobalt (metric ton) ‘Average realized prices (USS/t) Nickel copper cold Uss/oz) silver (USS/02) [cobalt Net revenue by product (US
Slide 36: Product type by operation
Product type by operation wot sales Class Inickel class nickel Intermediates ‘camps ty. Cho od nga oe Vale Base Metal Sustaining projects North Atlantic’ 955 42 03 Projects Details copex2axe Financial Matsusaka ‘onga Puma 997 956 03 44 Physical Bacaba [capacity: $0 ktpy Start-up: 3027 |Capex: US$ 29
Slide 37: Signatures
Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Vale S.A. (Registrant) By: /s/ Thiago Lofiego Date: July 30, 2026 Director of Investor Relations