Vale S.A. Files Application for Panda Bond Program in China

Vale S.A., through its wholly owned subsidiary Vale Overseas Limited, has filed an application with the National Association of Financial Market Institutional Investors (NAFMII) in China to register a Renminbi-denominated debt financing instruments program. This program, valid from 2026 to 2028, allows for the issuance of up to RMB 10 billion in Panda Bonds, which will be fully guaranteed by Vale. The registration is pending NAFMII approval, and the filing does not constitute an issuance. Any future issuance will depend on market conditions. This announcement is for informational purposes and not an offer to sell securities. The Panda Bonds and guarantee are not registered with the U.S. SEC or Brazilian CVM and will be offered and sold in China’s Interbank Bond Market in accordance with Chinese laws.