PT Vale releases fourth quarter 2022 Production Report

Jakarta, January 31st, 2023 - PT Vale Indonesia Tbk ("PT Vale" or the "Company", IDX Ticker: INCO) announced today that it produced 60,090 metric tons ("t") of nickel in matte in 2022.

"The performance of Furnace 1, Furnace 2 and Furnace 3 was above the budget for 2022, however the overall annual production was lower than our previous target mainly due to the delays in the Furnace 4 Rebuild completion," said Febriany Eddy, CEO and President Director of the Company.

Production Highlights

4Q22 3Q22 4Q21 2022 2021

Nickel in matte production (t) 16,183 17,513 17,015 60,090 65,388

Production in the fourth quarter of 2022 ("4Q22") reached 16,183 t of nickel in matte, which was about 8% lower than the production volume realized in 3Q22. Meanwhile, on year-on- year basis production in 2022 also 8% lower than production in 2021 mainly due to the execution of the Furnace 4 Rebuild project in the 1H22.

For further information, please contact: Bernardus Irmanto, Chief Financial Officerptvi.investorrelation@vale.comor visit our website at www.vale.com/indonesia

PT Vale Indonesia Tbk

Jakarta: Sequis Tower, 20th Floor, Unit 6 & 7, Jl. Jend. Sudirman Kav. 71, Jakarta 12190, Indonesia. T.(62) 21 524 9000 F.(62) 21 524 9020

Makassar: Jl. Somba Opu No. 281, Makassar 90113, Indonesia. T.(62) 411 366 9000 F.(62) 411 366 9020

Sorowako: Main Office Plant Site Sorowako, Luwu Timur 92984, Indonesia. T.(62) 475 332 9100 F.(62) 475 332 9575 www.vale.com/indonesia

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PT Vale Indonesia Tbk published this content on 31 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2023 14:28:04 UTC.