Vale has made significant progress in its strategic agenda in recent years. The Company positions itself as a leader in sustainable mining and in promoting low-carbon emission solutions, always preserving its discipline and efficiency in capital allocation. In this sense, Vale has substantially simplified its portfolio, focusing on businesses and geographies in which it has clear competitive advantages. 

This evolution ensures greater attention to core assets, accelerating improvement and innovation in high-quality products and solutions for the global energy transition. Following these drivers, which strengthen the strategy for the Vale of the future, the Company's Board of Directors approved, on this date, the new design of the Executive Committee. 

The Executive Vice-Presidency of Iron Solutions, under the leadership of Marcello Spinelli, was created to accelerate the development of innovative products and solutions in iron ore and the improvement of the marketing strategy for our portfolio, with substantial value creation to customers, shareholders and society in the decarbonization process. 

To accelerate the Vale Management System implementation in the Iron Ore business, the Executive Vice-Presidency of Operations was created, under the leadership of Carlos Medeiros. With the management of mining, pelletizing and logistics operations, it will deepen process standardization and promote greater safety, operational stability, flexibility and efficiency for Vale's production. 

To support portfolio development and longevity, the Executive Vice-Presidency of Projects was created, under the leadership of Alexandre Pereira. The area will be exclusively dedicated to implement key projects in Vale's strategic plan. 

To reinforce the second line of defense and the Company's risk management model, in addition to the continuous promotion of technical excellence, the Technical Executive Vice-Presidency was created. It incorporates the attributions of the current Executive Vice-Presidency for Safety and Operational Excellence and receives additional attributions, such as mineral exploration and operational innovation, increasing technical skill concentration. Mr. Rafael Bittar, current Director of Geotechnics, was appointed to the position. Rafael joined Vale in 2019 and has advanced with excellence in improving Vale's tailings and dams' management model. As a civil and geotechnical engineer, with around 20 years of mining experience, he has robust expertise in operations and geotechnical management. 

In this context, the Executive Vice-Presidency of Strategy and Business Transformation was extinguished, with Mr. Luciano Siani Pires leaving the Company in January 2023. Working with Vale since 2008, with different challenges in multiple areas, including the position of Executive Vice-President of Finance and Investor Relations (2012-2021), Luciano was responsible for designing Vale's strategy for the next 20 years. The Company thanks Luciano for his highly relevant services, always provided with high quality, ethical attitude, and friendship, which created a lot of value for the Company, and wishes him success in his new professional stage. 

In addition to these structural changes, other adjustments to the Executive Committee’s roles were approved. With this, Vale will continue to advance in the delivery of its strategic objectives, with a more efficient, competitive and effective performance. 
“I want to thank Luciano for his services to Vale. I also thank the Board of Directors for its support in improving the roles and responsibilities of the Executive Committee. I am sure that the Executive Committee’s new design will give the Company the required agility and focus to seize opportunities brought by the energy revolution, with the creation and sharing of long-term value for our stakeholders. I wish the Executive Committee’s members success in their new assignments”, said Eduardo Bartolomeo, Vale’s CEO. 

The organization chart below reflects the Executive Committee’s new design.