In March 2021, Vale announced the creation of the Executive Vice President of Strategy and Business Transformation, responsible for leading initiatives to position Vale for the future, aggregating the Mineral Exploration, Business Development, Innovation and Digital Transformation areas. The Executive Vice President will also integrate the Company's transformation efforts to achieve its ambitions of being a benchmark in safety, a world-class reliable operator, a talent-driven organization, a leader in low-carbon mining and a reference in value creation and sharing.

To lead as this Executive Vice President, Vale announces Luciano Siani Pires, who since 2012 has held the position of Executive Vice President of Finance and Investor Relations. For this new challenge Luciano brings his vast experience as a member of the Company's Executive Committee, having already led, in addition to the Finance Area, the Shared Services Center, Supplies, Information Technology and Projects areas, besides of having been a Board member, Global Strategy Director and Global Human Resources Director before joining the Executive Committee.

“Luciano deeply knows the Company and the industry and has the respect and the admiration of the organization and our business partners. He is a great name to lead the construction of our future and also gives us assurance that growth will take place with capital discipline”, said Eduardo Bartolomeo, Vale’s CEO.

To occupy the position of Executive Vice President of Finance and Investor Relations, Vale announces the arrival of Gustavo Pimenta, who has been working at AES for twelve years - as global CFO for the past three years, having previously held the functions of CFO of several business units in Brazil and abroad. Prior to that, he held the positions of Director of Planning and Strategy and Vice President of Performance and Services.

At AES, Gustavo led the company's global repositioning to a company focused on ESG and low carbon, having actively participated in the group's Diversity and Inclusion initiatives. He is a member of several Boards of companies such as AES Gener in Chile and AES Clean Energy in the US. Prior to AES, he was Vice President of Strategy and M&A at Citibank in New York and worked as an Auditor at KPMG for three years earlier in his career.

According to Eduardo Bartolomeo, “Gustavo represents a relevant addition to the Executive Committee, bringing his global experience and a renewed vision to our business, with strong leadership capacity in directing our collective efforts to achieve Vale's ambitions”.

The changes are effective as of November 1st, 2021.