Vale S.A. (VALE) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to Vale's fourth quarter 2025 earnings call. This conference has been recorded and the replay will be available on our website at vale.com. The presentation is also available for download in English and Portuguese from our website. To listen to the call in Portuguese, please press the globe icon located on the lower right side of your Zoom screen and then choose to enter the Portuguese room. Then, you can select mute your original audio so that you won't hear the English version in the background. We would like to inform you that all participants are currently in listen-only mode during the presentation. Further instructions will be provided before we begin the Q&A section of our call. We would like to advise that forward-looking statements may be provided in this presentation, including VALE's expectation about future events or results, encompassing those matters listed in the respective presentation. We continue that forward-looking statements are not guarantee of future performance and involve risks and uncertainties. To obtain information on factors that may lead results different from those forecast by Vale, please consult the report's Vale files with the U.S. Securities and Exchange Commission, SAC, 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. With us today are Mr. Gustavo Pimenta, CEO. Mr. Marcelo Bacci, Executive Vice President of Finance and Investor Relations. Mr. Rogério Nogueira, Executive Vice President, Commercial and Development. Mr. Carlos Medeiros, Executive Vice President of Operations. And Mr. Sean Usmore, CEO of Vale Base Metals. Now, I'll turn the conference over to Mr. ...