Following the press release dated October 18, 2024, Vale S.A. (“Vale” or “Company”) informs that Samarco Mineração S.A. (“Samarco”), BHP Billiton Brasil Ltda. (“BHP Brasil”) and the Company (jointly, “the Companies”), together with the Brazilian Federal Government, the State Governments of Minas Gerais and Espírito Santo, the Federal and State Public Prosecutors’ and Public Defenders’ Offices and other Brazilian public entities (jointly, “the Parties”) reached today a definitive and substantial settlement (“Definitive Settlement”) of claims related to the Fundão dam collapse in Mariana, Minas Gerais, Brazil, on November 5, 2015. 

“The Definitive Settlement enabled a mutually beneficial resolution for all Parties under fair and effective terms, while creating definitiveness and legal certainty. It is the result of a high-level mediation process conducted by the Brazilian Federal Court of Appeals of the 6th Region, with open dialogue and transparency. The engagement of Brazilian authorities and public entities ensured legitimacy to the settlement, which was supported by social, environmental and technical criteria. This important agreement also reinforces our commitment to Brazilian society and to a better future for the people, communities and the environment", said Gustavo Pimenta, Vale’s CEO. 

The final and definitive settlement documentation was approved by all Parties, including Vale’s Board of Directors, and signed today. The Definitive Agreement addresses all demands involving the signatory Brazilian public authorities, related to the collapse of Samarco's Fundão dam, including all socio-environmental damages and all collective and diffuse socioeconomic damages resulting from the rupture.