Vale (VALE) sees base metals at 28% of its long-term EBITDA mix

Rhea-AI Filing Summary

Vale S.A. updated its long-term indicative guidance for the contribution of its subsidiary Vale Base Metals Ltd. to the group’s consolidated EBITDA. The company now expects base metals to represent approximately 28% of consolidated EBITDA in the long term.

This estimate is based on assumed 2026 average prices for copper, nickel and gold, using the average of sell-side analysts’ estimates available in May 2026. All other estimates previously disclosed in item 3 of Vale’s Reference Form remain unchanged, and that item will be refiled with this single update.

Key Figures

VBM share of EBITDA: 28% of consolidated EBITDA Price assumption year: 2026 average prices CVM Resolution reference: Resolution No. 80/2022

3 metrics

VBM share of EBITDA 28% of consolidated EBITDA Indicative long-term guidance for Vale Base Metals

Price assumption year 2026 average prices Copper, nickel and gold assumptions for guidance

CVM Resolution reference Resolution No. 80/2022 Deadline framework for refiling Reference Form item 3

Key Terms

consolidated EBITDA, sell-side analysts’ estimates, Reference Form, forward-looking statements, +1 more

5 terms

consolidated EBITDA financial

"potential contribution of its subsidiary ... to the Company’s consolidated EBITDA in the long term"

Consolidated EBITDA is a measure of a parent company’s total operating earnings across all its subsidiaries, calculated before interest, taxes, depreciation and amortization (non‑cash charges). It shows the group’s raw cash‑generation and operating performance independent of financing and accounting choices, so investors use it like comparing the horsepower of an entire fleet rather than individual cars to judge core profitability and to compare firms on a more even footing.

sell-side analysts’ estimates financial

"based on the average of sell-side analysts’ estimates available in May 2026"

Reference Form regulatory

"All other estimates disclosed by the Company in item 3 of its Reference Form remain unchanged"

forward-looking statements regulatory

"consists of estimates and forward-looking statements based on assumptions and hypothetical data"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

CVM Resolution No. 80/2022 regulatory

"in compliance with the deadline set forth in CVM Resolution No. 80/2022"

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Form 6-K: How Foreign Companies Report to the SEC →

United States

Securities and Exchange Commission

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the

Securities Exchange Act of 1934

For the month of

June 2026

Vale S.A.

Praia de Botafogo nº 186, 18º andar, Botafogo
22250-145 Rio de Janeiro, RJ, Brazil

(Address of principal executive office)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

(Check One) Form 20-F x Form 40-F ¨

Vale informs on estimates update Rio de Janeiro, June 9, 2026 – Vale S.A. (“Vale” or the “Company”) informs that it has updated the indicative guidance on the potential contribution of its subsidiary Vale Base Metals Ltd. (“VBM”) to the Company’s consolidated EBITDA in the long term, which is now approximately 28%. This estimate considers, as main assumptions, the 2026 average prices of copper, nickel and gold, based on the average of sell-side analysts’ estimates available in May 2026. All other estimates disclosed by the Company in item 3 of its Reference Form remain unchanged. The aforementioned item of the Reference Form will be refiled with the above update in due course, in compliance with the deadline set forth in CVM Resolution No. 80/2022. Vale clarifies that the information in this Press Release consists of estimates and forward-looking statements based on assumptions and hypothetical data, and should not be interpreted as promise, guarantee or commitment regarding the Company’s or its management’s future performance. Actual results may differ materially due to market conditions, macroeconomic factors, operational performance and other risks described in the Company’s periodic filings with the CVM and the SEC. Marcelo Feriozzi Bacci Executive Vice President, Finance and Investor Relations For further information, please contact: Vale.RI@vale.com Thiago Lofiego: thiago.lofiego@vale.com Luciana Oliveti: luciana.oliveti@vale.com Pedro Terra: pedro.terra@vale.com Patricia Tinoco: patricia.tinoco@vale.com This press release may include statements that present Vale’s expectations about future events or results. All statements, when based upon expectations about the future, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM) and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F. Press Release   

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Vale S.A. (Registrant)
	By:	/s/ Thiago Lofiego
Date: June 9, 2026		Director of Investor Relations

FAQ

What guidance did Vale (VALE) update in this 6-K filing?

Vale updated its long-term indicative guidance for Vale Base Metals’ contribution to consolidated EBITDA. The company now expects the base metals subsidiary to account for approximately 28% of consolidated EBITDA, while keeping all other estimates in item 3 of its Reference Form unchanged.

How much of Vale’s long-term consolidated EBITDA is expected from Vale Base Metals?

Vale expects Vale Base Metals to contribute approximately 28% of its consolidated EBITDA in the long term. This percentage reflects an internal estimate based on commodity price assumptions and will be incorporated into an updated version of item 3 of the company’s Reference Form.

What price assumptions support Vale’s 28% EBITDA contribution estimate?

The 28% EBITDA contribution estimate for Vale Base Metals assumes 2026 average prices for copper, nickel and gold. These prices are based on the average of sell-side analysts’ estimates available in May 2026, providing a market-based reference for Vale’s long-term guidance update.

Did Vale change any other estimates in item 3 of its Reference Form?

No, Vale states that all other estimates disclosed in item 3 of its Reference Form remain unchanged. Only the indicative guidance on Vale Base Metals’ long-term contribution to consolidated EBITDA was updated, and the company will refile this item to reflect that change.

How does Vale describe the nature of this updated EBITDA guidance?

Vale describes the updated guidance as estimates and forward-looking statements based on assumptions and hypothetical data. The company emphasizes that these should not be seen as promises or guarantees, and actual results may differ materially due to market, macroeconomic, operational and other risk factors.

Where can investors find more information on Vale’s risk factors?

Investors can review risk factors in Vale’s periodic reports filed with the SEC and the Brazilian CVM. The company specifically refers to the “Forward-Looking Statements” and “Risk Factors” sections of its annual report on Form 20-F for more detail on potential risks affecting future results.