Vale S A : Extract of the Minutes of the Ordinary Board of Directors Meeting of Vale S.A.
March 11, 2022 at 06:14 pm EST
Share
CNPJ 33.592.510/0001-54
NIRE 33.300.019.766
EXTRACT OF THE MINUTES OF THE ORDINARY BOARD
OF DIRECTORS MEETING OF VALE S.A.
The Board of Directors ("BoD") met on March 11, 2022, from 9:00 am to 2:00 pm, by videoconference, being present Messrs. José Luciano Duarte Penido - President, Fernando Jorge Buso Gomes - Vice-President, Daniel André Stieler ("DS"), Eduardo de Oliveira Rodrigues Filho ("ER"), Ken Yasuhara ("KY"), Lucio Azevedo ("LA"), Manuel Lino Silva de Sousa Oliveira ("OO"), Marcelo Gasparino da Silva ("MG"), Mauro Gentile Rodrigues da Cunha ("MRC"), Murilo Cesar Lemos dos Santos Passos ("MP"), Rachel de Oliveira Maia ("RM"), Roberto da Cunha Castello Branco ("RCB") and Roger Allan Downey ("RD"). The works were secretariat by Luiz Gustavo Gouvêa, General Secretary for Corporate Governance of Vale S.A. ("Vale"). Consequently, the Board deliberated the following subjects: "PRESENTATION OF THE 2022 ADMINISTRATOR'S REMUNERATION PROPOSAL AND 2021 REMUNERATION RATIFICATION - With the favorable opinion of the CPRG, the BoD unanimously approved the proposals for (i) annual global remuneration of the administrators and members of the Fiscal Council ("FC") for 2022; and (ii) ratification of the remuneration paid to the administrators and members of the FC in 2021; to be reported in the Reference Form and submitted for deliberation at the next Annual Shareholders Meeting of Vale."; and "ASM 2022 - With the favorable opinion of the CPRG, the BoD unanimously approved the convening of the Ordinary and Extraordinary Shareholders Meetings to be held, cumulatively, on 04.29.2022, at 10:00 am, exclusively digitally through the Zoom platform, as well as all related documents to the agenda, the Absentee Ballot, the Voting Card and notice for ADR holders and the BoD's voting recommendation, which will be disclosed to the market. Board Member MRC highlighted his opinion that Vale's Fiscal Council should have three members. In his opinion, the law stipulates that the Fiscal Council may have from three to five members but fix the way in which they can be elected, through Paragraph 4 of Article 161 of Law 6,404/76. The provision provides, in subparagraph (a) for the election by preferred shareholders, followed by minority shareholders, which do not exist at Vale. Subparagraph (b) provides that the other shareholders, that is, all common shareholders, may elect two more. So the number is deterministic in three." I hereby attest that the items above reflects the decision taken by the Board of Directors.
Rio de Janeiro, March 11, 2022.
LUIZ GUSTAVO GOUVÊA
Secretary
Attachments
Original Link
Original Document
Permalink
Disclaimer
Vale SA published this content on 11 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 March 2022 23:13:08 UTC.
Vale S.A. is one of the world's leading metallurgy and mining groups. Revenues break down by family of products as follows:
- ferrous minerals and metals (80,2%): ferrous minerals (85.1% of revenues; 254 Mt sold in 2020), ferrous mineral granules (13.2%; 31.2 Mt), iron alloys and manganese (0.7%; 1.4 Mt), and other (1%);
- non-ferrous minerals and metals (17.9%): nickel, precious metals, and cobalt (69.7% of revenues; 211 Kt of nickel sold) and copper (30.3%; 247 Kt);
- coal (1.2%): metallurgical coal (2.9 Mt sold) and thermal coal (3 Mt);
- other (0.7%).
Revenues are distributed geographically as follows: Brazil (7.3%), the United States (2.6%), Americas (1.5%), China (57.8%), Japan (5.5%), Asia (8.2%), Europe (13.3%) and Middle East/Africa/Oceania (3.8%).
VALE S.A. 
