Vale informs that it has updated the estimates mentioned below, which should be considered as follows: 

Free Cash Flow yield:

Sensitivity of Vale's Free Cash Flow yield in 2030, in real terms, ranging from 6% to 28%, depending on the following assumptions: (a) average annual iron ore price (62% Fe benchmark) ranging from US$ 90/t to US$ 120/t; (b) average annual nickel price (LME) ranging from US$/t 14,000/t to US$ 18,000/t; (c) average annual copper price (LME) ranging from US$ 7,000/t to US$ 11,000/t.

Additional comments:
The Company informs that all other production projections for iron ore, agglomerates, copper, nickel, all-in cost components, disbursements and commitments and capital investments not mentioned in this document will be discontinued. Furthermore, the company clarifies that the information provided in this document represent only an expectation, hypothetical data that by no means constitute a promise of performance by Vale and/or its management. The estimates presented involve market factors that are beyond Vale’s control
and, therefore, can be subject to new changes. Additionally, Vale informs that the item 3 of its Reference Form will be filed again in due course, within the period required by the Resolution CVM No. 80/2022.