​Vale informs that its Board of Directors approved today the proposal from the Executive Committee to establish a share buyback program for Vale's common shares.

The buyback program will be limited to a maximum of 270,000,000 common shares and their respective ADRs, representing up to 5.3% of the total number of outstanding shares, based on the shareholding position of February 28th, 2021. The program will be carried out over a period of up to 12 months.

Our buyback program demonstrates the management confidence in Vale's potential to consistently create and share value. Ruled by our discipline in capital allocation, we consider the repurchase of our shares one of the best investments available for the company. Our buyback program should not compete with our intention to consistently distribute dividends above the minimum level provided in our dividend policy, as it has been the case since we re-established our dividend program.

The buyback program complies with Brazilian capital markets regulation and will be carried out on stock exchanges at market prices. Additional information can be found in CVM Instruction no. 480, Annex 30-XXXVI registered at CVM.