Vale’s CEO Mandate Extended, Succession Process Initiated

Vale’s Board of Directors, in collaboration with CEO Eduardo de Salles Bartolomeo, has opted to extend his current mandate until December 31st, 2024, while simultaneously commencing the succession process in accordance with Vale’s CEO Succession Policy. Furthermore, it has been agreed that Bartolomeo will facilitate the transition to new leadership in early 2025 and will continue to serve as an advisor to the Company until December 31, 2025.

The selection of Vale’s new CEO will prioritize the requisite skills and profile aligned with the company’s strategic direction and future challenges. The Board of Directors will receive support from an international firm in this process, with the new CEO introduced upon the completion of the succession process.

Daniel Stieler, Chairman of Vale’s Board of Directors, expressed profound gratitude for Eduardo’s steadfast commitment over the past five years, affirming their joint efforts until the conclusion of his mandate. Stieler assured continued adherence to the company’s policies throughout the succession process.

Eduardo Bartolomeo reiterated his dedication to advancing the company’s strategic agenda until the conclusion of his mandate, ensuring a seamless transition to the incoming leadership. He underscored the significant transformation undertaken by Vale in recent years, including internal cultural shifts, business reorganization, and a heightened focus on capital allocation and value creation for shareholders and society. Bartolomeo expressed unwavering optimism regarding Vale’s future trajectory.

The Board reaffirmed its commitment to shaping the “Vale of the Future” through sustainable mining practices, the promotion of low-carbon solutions, and disciplined cost and capital allocation. Emphasizing a safety-centric culture and close stakeholder engagement, the Board pledged to maintain open and transparent dialogue and collaborate closely with the Company’s Executive Committee to position Vale as a benchmark in value creation and sharing with shareholders and society.

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