Vale S.A. CEDEAR

Vale S.A. CEDEAR is a depositary receipt that provides Argentine investors economic exposure to Vale S.A., one of the world’s leading diversified mining companies, in local custody and currency terms. Each certificate represents a fractional interest in the underlying foreign equity or its ADR, facilitating access to global mining assets through Argentina’s market infrastructure. Vale S.A. operates across the global metals value chain, with a core focus on iron ore and nickel, and additional activities in copper, manganese, and related minerals that serve steelmaking, infrastructure, energy transition technologies, and industrial supply chains. As a CEDEAR, this instrument reflects the performance of the underlying company adjusted for the established ratio and translated through the depositary structure, enabling portfolio diversification and currency hedging characteristics common to Argentina-listed foreign equity receipts. Its relevance in the local market stems from channeling exposure to an internationally scaled producer integral to commodity cycles and industrial demand, while offering investors corporate actions and pricing linked to the underlying security via the depositary program framework.