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VALE SA 2023-2024 Proxy Voting Records

Compiled from SEC Form N-PX filings. Page generated October 25, 2026.

  • 54Reported items
  • 142Asset managers
  • 4,195Fund votes
  • April 26, 2024Meeting date

Results at a glance

No official results are on file for this meeting: no Form 8-K tally (Item 5.07) from VALE SA has been matched to it. The figures below are the funds’ own votes from Form N-PX. They are not the meeting result, so they are not used to judge dissent.

Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided

Proxy season: 2023-2024 2024-2025 2025-2026

Explore VALE SA in the interactive database Compare manager voting policies

How asset managers voted at the VALE SA 2023-2024 meeting

Each item below shows how the 142 asset managers that disclosed a VALE SA vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of VALE SA’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Elect Heloisa Belotti Bedicks as Fiscal Council Member and Adriana Andrade Sole as Alternate Appointed by Geracao L…

No official resultsDIRECTOR ELECTIONS

Combines 2 wordings of this item as funds reported it.

98% of fund votes cast · no official result

FORABSTAIN
Details: description as filed, votes by 75 asset managers

Description as filed by funds: Elect Heloisa Belotti Bedicks as Fiscal Council Member and Adriana Andrade Sole as Alternate Appointed by Geracao L. Par and Others

The 75 asset managers below reported 470,480,168 for, 9,065,326 against, 125,128,819 abstained, 1,043 not voted. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 470,480,168AGAINST: 9,065,326ABSTAIN: 125,128,819NOT VOTED: 1,043
Largest asset managers voting on “Elect Heloisa Belotti Bedicks as Fiscal Council Member and Adriana Andrade Sole as Alternate Appointed by Gera” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group83,217,9500 122,386,5500Mixed
BlackRock118,796,5730 00For
Vanguard109,296,9390 00For
Fidelity41,894,406186,246 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND6,041,0270 2,742,2690Mixed
T. Rowe Price08,582,125 00Against
WisdomTree6,902,3980 00For
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For

Showing the 25 largest of 75 asset managers. See all 75 in the interactive database.

2. Elect Marcio de Souza as Fiscal Council Member and Ana Maria Loureiro Recart as Alternate Appointed by Caixa de…

No official resultsDIRECTOR ELECTIONS

Combines 2 wordings of this item as funds reported it.

65% of fund votes cast · no official result

FORAGAINST
Details: description as filed, votes by 75 asset managers

Description as filed by funds: Elect Marcio de Souza as Fiscal Council Member and Ana Maria Loureiro Recart as Alternate Appointed by Caixa de Previdencia dos Funcionarios do Banco do Brasil - Previ

The 75 asset managers below reported 380,637,696 for, 205,544,100 against, 18,492,517 abstained, 1,043 not voted. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 380,637,696AGAINST: 205,544,100ABSTAIN: 18,492,517NOT VOTED: 1,043
Largest asset managers voting on “Elect Marcio de Souza as Fiscal Council Member and Ana Maria Loureiro Recart as Alternate Appointed by Caixa d” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group0187,111,983 18,492,5170Mixed
BlackRock118,796,5730 00For
Vanguard109,296,9390 00For
Fidelity41,894,406186,246 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND08,783,296 00Against
T. Rowe Price08,582,125 00Against
WisdomTree6,902,3980 00For
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For

Showing the 25 largest of 75 asset managers. See all 75 in the interactive database.

3. Elect Paulo Clovis Ayres Filho as Fiscal Council Member and Guilherme Jose de Vasconcelos Cerqueira as Alternate…

No official resultsDIRECTOR ELECTIONS

Combines 2 wordings of this item as funds reported it.

87% of fund votes cast · no official result

FOR
Details: description as filed, votes by 75 asset managers

Description as filed by funds: Elect Paulo Clovis Ayres Filho as Fiscal Council Member and Guilherme Jose de Vasconcelos Cerqueira as Alternate Appointed by Cosan Oito S.A.

The 75 asset managers below reported 524,259,032 for, 80,415,281 against, 1,043 not voted. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 524,259,032AGAINST: 80,415,281NOT VOTED: 1,043
Largest asset managers voting on “Elect Paulo Clovis Ayres Filho as Fiscal Council Member and Guilherme Jose de Vasconcelos Cerqueira as Alterna” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group140,879,06764,725,433 00Mixed
BlackRock118,796,5730 00For
Vanguard109,296,9390 00For
Fidelity41,894,406186,246 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND2,742,2696,041,027 00Mixed
T. Rowe Price08,582,125 00Against
WisdomTree6,902,3980 00For
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For

Showing the 25 largest of 75 asset managers. See all 75 in the interactive database.

4. Elect Raphael Manhaes Martins as Fiscal Council Member and Jandaraci Ferreira de Araujo as Alternate Appointed by…

No official resultsDIRECTOR ELECTIONS

Combines 2 wordings of this item as funds reported it.

99% of fund votes cast · no official result

FOR
Details: description as filed, votes by 75 asset managers

Description as filed by funds: Elect Raphael Manhaes Martins as Fiscal Council Member and Jandaraci Ferreira de Araujo as Alternate Appointed by Geracao L. Par and Others

The 75 asset managers below reported 595,608,987 for, 9,065,326 against, 1,043 not voted. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 595,608,987AGAINST: 9,065,326NOT VOTED: 1,043
Largest asset managers voting on “Elect Raphael Manhaes Martins as Fiscal Council Member and Jandaraci Ferreira de Araujo as Alternate Appointed” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group205,604,5000 00For
BlackRock118,796,5730 00For
Vanguard109,296,9390 00For
Fidelity41,894,406186,246 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND8,783,2960 00For
T. Rowe Price08,582,125 00Against
WisdomTree6,902,3980 00For
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For

Showing the 25 largest of 75 asset managers. See all 75 in the interactive database.

5. Election of the Fiscal Council by Candidate: Heloísa Belotti Bedicks (effective) / Adriana de Andrade Solé (alternate)

No official resultsCORPORATE GOVERNANCE

Combines 3 wordings of this item as funds reported it.

99.5% of fund votes cast · no official result

FOR
Details: votes by 26 asset managers

The 26 asset managers below reported 3,885,620 for, 10,359 against, 7,045 withheld, 39,861 abstained. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,885,620AGAINST: 10,359ABSTAIN: 39,861WITHHOLD: 7,045
Largest asset managers voting on “Election of the Fiscal Council by Candidate: Heloísa Belotti Bedicks (effective) / Adriana de Andrade Solé (al” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
JPMorgan1,129,8690 00For
Brookfield Investment Funds575,1540 00For
Jackson National350,63610,359 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
Clough Global Opportunities Fund168,9000 00For
John Hancock149,2920 00For
Gateway Trust136,8420 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust37,4700 39,8610Mixed
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For
PFM Multi-Manager Series Trust35,4260 00For
Calamos26,4500 00For
TIMOTHY PLAN22,3630 00For
Gabelli10,0000 00For
Northern Lights Fund Trust IV00 07,045Withhold
Amplify ETF Trust5,5220 00For
CITY NATIONAL ROCHDALE FUNDS1,0110 00For
Boltwood Capital Management2000 00For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

6. Election of the Fiscal Council by Candidate: Márcio de Souza (effective) / Ana Maria Loureiro Recart (alternate)

No official resultsCORPORATE GOVERNANCE

Combines 3 wordings of this item as funds reported it.

99.5% of fund votes cast · no official result

FOR
Details: votes by 26 asset managers

The 26 asset managers below reported 3,885,620 for, 10,359 against, 7,045 withheld, 39,861 abstained. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,885,620AGAINST: 10,359ABSTAIN: 39,861WITHHOLD: 7,045
Largest asset managers voting on “Election of the Fiscal Council by Candidate: Márcio de Souza (effective) / Ana Maria Loureiro Recart (alternat” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
JPMorgan1,129,8690 00For
Brookfield Investment Funds575,1540 00For
Jackson National350,63610,359 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
Clough Global Opportunities Fund168,9000 00For
John Hancock149,2920 00For
Gateway Trust136,8420 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust37,4700 39,8610Mixed
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For
PFM Multi-Manager Series Trust35,4260 00For
Calamos26,4500 00For
TIMOTHY PLAN22,3630 00For
Gabelli10,0000 00For
Northern Lights Fund Trust IV00 07,045Withhold
Amplify ETF Trust5,5220 00For
CITY NATIONAL ROCHDALE FUNDS1,0110 00For
Boltwood Capital Management2000 00For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

7. Election of the fiscal council by candidate: Paulo Clovis Ayres Filho (effective) / Guilherme José de Vasconcelos…

No official resultsCORPORATE GOVERNANCE

Combines 4 wordings of this item as funds reported it.

99.5% of fund votes cast · no official result

FOR
Details: description as filed, votes by 26 asset managers

Description as filed by funds: Election of the fiscal council by candidate: Paulo Clovis Ayres Filho (effective) / Guilherme José de Vasconcelos Cerqueira (alternate)

The 26 asset managers below reported 3,885,620 for, 10,359 against, 7,045 withheld, 39,861 abstained. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,885,620AGAINST: 10,359ABSTAIN: 39,861WITHHOLD: 7,045
Largest asset managers voting on “Election of the fiscal council by candidate: Paulo Clovis Ayres Filho (effective) / Guilherme José de Vasconce” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
JPMorgan1,129,8690 00For
Brookfield Investment Funds575,1540 00For
Jackson National350,63610,359 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
Clough Global Opportunities Fund168,9000 00For
John Hancock149,2920 00For
Gateway Trust136,8420 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust37,4700 39,8610Mixed
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For
PFM Multi-Manager Series Trust35,4260 00For
Calamos26,4500 00For
TIMOTHY PLAN22,3630 00For
Gabelli10,0000 00For
Northern Lights Fund Trust IV00 07,045Withhold
Amplify ETF Trust5,5220 00For
CITY NATIONAL ROCHDALE FUNDS1,0110 00For
Boltwood Capital Management2000 00For

Showing the 25 largest of 26 asset managers. See all 26 in the interactive database.

8. Election of the Fiscal Council by Candidate: Raphael Manhães Martins (effective) / Jandaraci Ferreira de Araújo…

No official resultsCORPORATE GOVERNANCE

Combines 2 wordings of this item as funds reported it.

99.5% of fund votes cast · no official result

FOR
Details: description as filed, votes by 25 asset managers

Description as filed by funds: Election of the Fiscal Council by Candidate: Raphael Manhães Martins (effective) / Jandaraci Ferreira de Araújo (alternate)

The 25 asset managers below reported 3,875,620 for, 10,359 against, 7,045 withheld, 39,861 abstained. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 3,875,620AGAINST: 10,359ABSTAIN: 39,861WITHHOLD: 7,045
Largest asset managers voting on “Election of the Fiscal Council by Candidate: Raphael Manhães Martins (effective) / Jandaraci Ferreira de Araúj” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
JPMorgan1,129,8690 00For
Brookfield Investment Funds575,1540 00For
Jackson National350,63610,359 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
Clough Global Opportunities Fund168,9000 00For
John Hancock149,2920 00For
Gateway Trust136,8420 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust37,4700 39,8610Mixed
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For
PFM Multi-Manager Series Trust35,4260 00For
Calamos26,4500 00For
TIMOTHY PLAN22,3630 00For
Northern Lights Fund Trust IV00 07,045Withhold
Amplify ETF Trust5,5220 00For
CITY NATIONAL ROCHDALE FUNDS1,0110 00For
Boltwood Capital Management2000 00For
SARATOGA ADVANTAGE TRUST00 00--

9. Elect Heloisa Belotti Bedicks

No official resultsDIRECTOR ELECTIONS

100% of fund votes cast · no official result

FOR
Details: votes by 16 asset managers

The 16 asset managers below reported 29,204,298 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298
Largest asset managers voting on “Elect Heloisa Belotti Bedicks” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For

10. Elect Marcio de Souza

No official resultsDIRECTOR ELECTIONS

100% of fund votes cast · no official result

FOR
Details: votes by 16 asset managers

The 16 asset managers below reported 29,204,298 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298
Largest asset managers voting on “Elect Marcio de Souza” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For

11. Elect Paulo Clovis Ayres Filho

No official resultsDIRECTOR ELECTIONS

100% of fund votes cast · no official result

FOR
Details: votes by 16 asset managers

The 16 asset managers below reported 29,204,298 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298
Largest asset managers voting on “Elect Paulo Clovis Ayres Filho” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For

12. Elect Raphael Manhaes Martins

No official resultsDIRECTOR ELECTIONS

100% of fund votes cast · no official result

FOR
Details: votes by 16 asset managers

The 16 asset managers below reported 29,204,298 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298
Largest asset managers voting on “Elect Raphael Manhaes Martins” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For

13. ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER MAY…

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER MAY NOMINATE AS MANY CANDIDATES AS THERE ARE SEATS TO BE FILLED IN THE GENERAL ELECTION. LIMIT OF VACANCIES 4. HELOISA BELOTTI BEDICKS. EFFECTIVE AND ADRIANA ANDRADE SOLE

The 11 asset managers below reported 5,136,471 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,136,471
Largest asset managers voting on “ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER M” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
ADVISORS SERIES TRUST2,855,3000 00For
Jackson National633,9040 00For
John Hancock553,3770 00For
JPMorgan506,4000 00For
Brown Advisory Funds296,0000 00For
CULLEN FUNDS TRUST111,5100 00For
Krane Shares Trust69,9000 00For
Cambria ETF Trust64,2000 00For
GPS Funds I19,7800 00For
Advisors' Inner Circle Fund III19,1000 00For
WILSHIRE MUTUAL FUNDS INC7,0000 00For

14. ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER MAY…

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER MAY NOMINATE AS MANY CANDIDATES AS THERE ARE SEATS TO BE FILLED IN THE GENERAL ELECTION. LIMIT OF VACANCIES 4. MARCIO DE SOUZA. EFFECTIVE AND ANA MARIA LOUREIRO RECART

The 11 asset managers below reported 5,136,471 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,136,471
Largest asset managers voting on “ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER M” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
ADVISORS SERIES TRUST2,855,3000 00For
Jackson National633,9040 00For
John Hancock553,3770 00For
JPMorgan506,4000 00For
Brown Advisory Funds296,0000 00For
CULLEN FUNDS TRUST111,5100 00For
Krane Shares Trust69,9000 00For
Cambria ETF Trust64,2000 00For
GPS Funds I19,7800 00For
Advisors' Inner Circle Fund III19,1000 00For
WILSHIRE MUTUAL FUNDS INC7,0000 00For

15. ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER MAY…

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER MAY NOMINATE AS MANY CANDIDATES AS THERE ARE SEATS TO BE FILLED IN THE GENERAL ELECTION. LIMIT OF VACANCIES 4. PAULO CLOVIS AYRES FILHO. EFFECTIVE AND GUILHERME JOSE DE VASCONCELOS CERQUEIRA

The 11 asset managers below reported 5,136,471 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,136,471
Largest asset managers voting on “ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER M” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
ADVISORS SERIES TRUST2,855,3000 00For
Jackson National633,9040 00For
John Hancock553,3770 00For
JPMorgan506,4000 00For
Brown Advisory Funds296,0000 00For
CULLEN FUNDS TRUST111,5100 00For
Krane Shares Trust69,9000 00For
Cambria ETF Trust64,2000 00For
GPS Funds I19,7800 00For
Advisors' Inner Circle Fund III19,1000 00For
WILSHIRE MUTUAL FUNDS INC7,0000 00For

16. ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER MAY…

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER MAY NOMINATE AS MANY CANDIDATES AS THERE ARE SEATS TO BE FILLED IN THE GENERAL ELECTION. LIMIT OF VACANCIES 4. RAPHAEL MANHAES MARTINS. EFFECTIVE AND JANDARACI FERREIRA DE ARAUJO

The 11 asset managers below reported 5,136,471 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,136,471
Largest asset managers voting on “ELECTION OF THE FISCAL COUNCIL BY CANDIDATE. NOMINATION OF CANDIDATES TO THE FISCAL COUNCIL, THE SHAREHOLDER M” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
ADVISORS SERIES TRUST2,855,3000 00For
Jackson National633,9040 00For
John Hancock553,3770 00For
JPMorgan506,4000 00For
Brown Advisory Funds296,0000 00For
CULLEN FUNDS TRUST111,5100 00For
Krane Shares Trust69,9000 00For
Cambria ETF Trust64,2000 00For
GPS Funds I19,7800 00For
Advisors' Inner Circle Fund III19,1000 00For
WILSHIRE MUTUAL FUNDS INC7,0000 00For

17. Ratify Macso Legate Auditores Independentes as Independent Firm to Appraise Proposed Transaction

Combines 2 wordings of this item as funds reported it.

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 76 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 71 asset managers voting on “Ratify Macso Legate Auditores Independentes as Independent Firm to Appraise Proposed Transaction” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group205,604,5000 00For
BlackRock118,796,5730 00For
Vanguard109,296,9390 00For
Fidelity42,080,6520 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND8,783,2960 00For
T. Rowe Price8,582,1250 00For
WisdomTree6,902,3980 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For
Northern Trust745,1130 00For

Fund voting reports, all 71 managers: 598,776,088 for. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 4 asset managers voting on “Ratify Macso Legate Auditores Independentes as Independent Firm to Appraise Proposed Transaction” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
RWC Asset Management LLP1,672,3950 00For
Warren Street Wealth Advisors, LLC2,1590 00For
Keel Point, LLC1,0430 00For

Institutional-manager reports, all 4 managers: 7,571,466 for.

18. APPROVE THE MERGER, WITHOUT CAPITAL INCREASE OR ISSUANCE OF NEW SHARES, OF FRD BY VALE.

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 32 asset managers

The 32 asset managers below reported 4,481,356 for, 39,861 abstained. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 4,481,356ABSTAIN: 39,861
Largest asset managers voting on “APPROVE THE MERGER, WITHOUT CAPITAL INCREASE OR ISSUANCE OF NEW SHARES, OF FRD BY VALE.” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
JPMorgan1,129,8690 00For
Brookfield Investment Funds575,1540 00For
Jackson National360,9950 00For
Virtus309,2000 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
PERMANENT PORTFOLIO FAMILY OF FUNDS200,0000 00For
Clough Global Opportunities Fund168,9000 00For
John Hancock149,2920 00For
Gateway Trust136,8420 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust37,4700 39,8610Mixed
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
Investment Managers Series Trust40,0000 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For
PFM Multi-Manager Series Trust35,4260 00For
Calamos26,4500 00For
TIMOTHY PLAN22,3630 00For
Principal20,1000 00For
Gabelli10,0000 00For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

19. Merger Agreement

No official resultsEXTRAORDINARY TRANSACTIONS

100% of fund votes cast · no official result

FOR
Details: votes by 16 asset managers

The 16 asset managers below reported 29,204,298 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298
Largest asset managers voting on “Merger Agreement” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For

20. Merger by Absorption (Florestas Rio Doce S.A.)

No official resultsEXTRAORDINARY TRANSACTIONS

100% of fund votes cast · no official result

FOR
Details: votes by 16 asset managers

The 16 asset managers below reported 29,204,298 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298
Largest asset managers voting on “Merger by Absorption (Florestas Rio Doce S.A.)” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For

21. Ratification of Appointment of Appraiser

No official resultsEXTRAORDINARY TRANSACTIONS

100% of fund votes cast · no official result

FOR
Details: votes by 16 asset managers

The 16 asset managers below reported 29,204,298 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298
Largest asset managers voting on “Ratification of Appointment of Appraiser” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For

22. Valuation Report

No official resultsEXTRAORDINARY TRANSACTIONS

100% of fund votes cast · no official result

FOR
Details: votes by 16 asset managers

The 16 asset managers below reported 29,204,298 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298
Largest asset managers voting on “Valuation Report” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For

23. APPROVE THE FRDS MERGER INTO VALE, WITHOUT A CAPITAL INCREASE OR NEW SHARE ISSUANCE

No official resultsEXTRAORDINARY TRANSACTIONS

100% of fund votes cast · no official result

FOR
Details: votes by 11 asset managers

The 11 asset managers below reported 5,136,471 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,136,471
Largest asset managers voting on “APPROVE THE FRDS MERGER INTO VALE, WITHOUT A CAPITAL INCREASE OR NEW SHARE ISSUANCE” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
ADVISORS SERIES TRUST2,855,3000 00For
Jackson National633,9040 00For
John Hancock553,3770 00For
JPMorgan506,4000 00For
Brown Advisory Funds296,0000 00For
CULLEN FUNDS TRUST111,5100 00For
Krane Shares Trust69,9000 00For
Cambria ETF Trust64,2000 00For
GPS Funds I19,7800 00For
Advisors' Inner Circle Fund III19,1000 00For
WILSHIRE MUTUAL FUNDS INC7,0000 00For

24. Pursuant to articles 224 and 225 of Law No. 6,404/76, approve the Filing and Justification of the Merger of Florestas…

No official resultsEXTRAORDINARY TRANSACTIONS

Combines 2 wordings of this item as funds reported it.

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 31 asset managers

Description as filed by funds: Pursuant to articles 224 and 225 of Law No. 6,404/76, approve the Filing and Justification of the Merger of Florestas Rio Doce S.A. ("FRD"), a wholly-owned subsidiary of Vale.

The 31 asset managers below reported 4,498,854 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 4,498,854
Largest asset managers voting on “Pursuant to articles 224 and 225 of Law No. 6,404/76, approve the Filing and Justification of the Merger of Fl” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
JPMorgan1,129,8690 00For
Brookfield Investment Funds575,1540 00For
Jackson National360,9950 00For
Virtus309,2000 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
PERMANENT PORTFOLIO FAMILY OF FUNDS200,0000 00For
Clough Global Opportunities Fund168,9000 00For
John Hancock149,2920 00For
Gateway Trust136,8420 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust77,3310 00For
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
Investment Managers Series Trust40,0000 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For
PFM Multi-Manager Series Trust35,4260 00For
Calamos26,4500 00For
Principal20,1000 00For
Gabelli10,0000 00For
Neuberger Berman8,6670 00For

Showing the 25 largest of 31 asset managers. See all 31 in the interactive database.

25. Approve Absorption of FRD

No official resultsCORPORATE GOVERNANCE

Combines 2 wordings of this item as funds reported it.

100% of fund votes cast · no official result

FOR
Details: votes by 76 asset managers

The 76 asset managers below reported 604,751,200 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 604,751,200
Largest asset managers voting on “Approve Absorption of FRD” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group205,604,5000 00For
BlackRock118,796,5730 00For
Vanguard109,296,9390 00For
Fidelity42,080,6520 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND8,783,2960 00For
T. Rowe Price8,582,1250 00For
WisdomTree6,902,3980 00For
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For

Showing the 25 largest of 76 asset managers. See all 76 in the interactive database.

26. Approve Agreement to Absorb Florestas Rio Doce S.A. (FRD)

No official resultsCORPORATE GOVERNANCE

Combines 2 wordings of this item as funds reported it.

100% of fund votes cast · no official result

FOR
Details: votes by 76 asset managers

The 76 asset managers below reported 604,751,200 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 604,751,200
Largest asset managers voting on “Approve Agreement to Absorb Florestas Rio Doce S.A. (FRD)” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group205,604,5000 00For
BlackRock118,796,5730 00For
Vanguard109,296,9390 00For
Fidelity42,080,6520 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND8,783,2960 00For
T. Rowe Price8,582,1250 00For
WisdomTree6,902,3980 00For
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For

Showing the 25 largest of 76 asset managers. See all 76 in the interactive database.

27. Approve Independent Firm's Appraisal

Combines 2 wordings of this item as funds reported it.

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 76 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 71 asset managers voting on “Approve Independent Firm's Appraisal” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group205,604,5000 00For
BlackRock118,796,5730 00For
Vanguard109,296,9390 00For
Fidelity42,080,6520 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND8,783,2960 00For
T. Rowe Price8,582,1250 00For
WisdomTree6,902,3980 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For
Northern Trust745,1130 00For

Fund voting reports, all 71 managers: 598,776,088 for. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 4 asset managers voting on “Approve Independent Firm's Appraisal” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
RWC Asset Management LLP1,672,3950 00For
Warren Street Wealth Advisors, LLC2,1590 00For
Keel Point, LLC1,0430 00For

Institutional-manager reports, all 4 managers: 7,571,466 for.

28. Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2023

No official resultsFund totals may overlapINVESTMENT COMPANY MATTERSCORPORATE GOVERNANCE

Combines 2 wordings of this item as funds reported it.

100% Fund and manager reports combined; may count the same shares twice · no official result

FORABSTAIN
Details: votes by 75 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 71 asset managers voting on “Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2023” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group205,604,5000 00For
BlackRock00 118,796,5730Abstain
Vanguard109,296,9390 00For
Fidelity42,080,6520 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND8,783,2960 00For
T. Rowe Price8,582,1250 00For
WisdomTree6,902,3980 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For
Northern Trust745,1130 00For

Fund voting reports, all 71 managers: 479,313,457 for, 119,462,631 abstained. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 4 asset managers voting on “Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2023” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
RWC Asset Management LLP169,6880 00For
Warren Street Wealth Advisors, LLC2,1590 00For
Keel Point, LLC1,0430 00For

Institutional-manager reports, all 4 managers: 6,068,759 for.

29. Approve Allocation of Income and Dividends

No official resultsCAPITAL STRUCTURE

Combines 2 wordings of this item as funds reported it.

100% of fund votes cast · no official result

FOR
Details: votes by 75 asset managers

The 75 asset managers below reported 604,786,979 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 604,786,979
Largest asset managers voting on “Approve Allocation of Income and Dividends” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group205,604,5000 00For
BlackRock118,796,5730 00For
Vanguard109,296,9390 00For
Fidelity42,080,6520 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND8,783,2960 00For
T. Rowe Price8,582,1250 00For
WisdomTree6,902,3980 00For
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For

Showing the 25 largest of 75 asset managers. See all 75 in the interactive database.

30. APPROVAL OF THE MANAGEMENT REPORT AND ACCOUNTS AND EXAMINATION, DISCUSSION, AND VOTING ON THE FINANCIAL STATEMENTS…

No official resultsCORPORATE GOVERNANCE

Combines 2 wordings of this item as funds reported it.

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 40 asset managers

Description as filed by funds: APPROVAL OF THE MANAGEMENT REPORT AND ACCOUNTS AND EXAMINATION, DISCUSSION, AND VOTING ON THE FINANCIAL STATEMENTS, REFERRING TO THE FISCAL YEAR ENDED DECEMBER 31, 2023.

The 40 asset managers below reported 9,236,513 for, 421,175 abstained. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 9,236,513ABSTAIN: 421,175
Largest asset managers voting on “APPROVAL OF THE MANAGEMENT REPORT AND ACCOUNTS AND EXAMINATION, DISCUSSION, AND VOTING ON THE FINANCIAL STATEM” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
ADVISORS SERIES TRUST2,855,3000 00For
JPMorgan1,636,2690 00For
Jackson National573,7240 421,1750Mixed
John Hancock702,6690 00For
Brookfield Investment Funds575,1540 00For
Virtus309,2000 00For
Brown Advisory Funds296,0000 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
PERMANENT PORTFOLIO FAMILY OF FUNDS200,0000 00For
Clough Global Opportunities Fund168,9000 00For
Gateway Trust136,8420 00For
CULLEN FUNDS TRUST111,5100 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust77,3310 00For
Krane Shares Trust69,9000 00For
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Cambria ETF Trust64,2000 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
Investment Managers Series Trust40,0000 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For

Showing the 25 largest of 40 asset managers. See all 40 in the interactive database.

31. PROPOSAL FOR THE ALLOCATION OF THE RESULTS FOR THE 2023 FINANCIAL YEAR, IN ACCORDANCE WITH EXHIBIT II OF THE MANAGEMENT…

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 32 asset managers

Description as filed by funds: PROPOSAL FOR THE ALLOCATION OF THE RESULTS FOR THE 2023 FINANCIAL YEAR, IN ACCORDANCE WITH EXHIBIT II OF THE MANAGEMENT PROPOSAL.

The 32 asset managers below reported 4,521,217 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 4,521,217
Largest asset managers voting on “PROPOSAL FOR THE ALLOCATION OF THE RESULTS FOR THE 2023 FINANCIAL YEAR, IN ACCORDANCE WITH EXHIBIT II OF THE M” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
JPMorgan1,129,8690 00For
Brookfield Investment Funds575,1540 00For
Jackson National360,9950 00For
Virtus309,2000 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
PERMANENT PORTFOLIO FAMILY OF FUNDS200,0000 00For
Clough Global Opportunities Fund168,9000 00For
John Hancock149,2920 00For
Gateway Trust136,8420 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust77,3310 00For
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
Investment Managers Series Trust40,0000 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For
PFM Multi-Manager Series Trust35,4260 00For
Calamos26,4500 00For
TIMOTHY PLAN22,3630 00For
Principal20,1000 00For
Gabelli10,0000 00For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

32. Accounts and Reports

No official resultsCORPORATE GOVERNANCE

100% of fund votes cast · no official result

FOR
Details: votes by 16 asset managers

The 16 asset managers below reported 29,204,298 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298
Largest asset managers voting on “Accounts and Reports” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For

33. Allocation of Profits/Dividends

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: votes by 16 asset managers

The 16 asset managers below reported 29,204,298 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298
Largest asset managers voting on “Allocation of Profits/Dividends” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For

34. PROPOSAL FOR THE ALLOCATION OF THE RESULTS FOR THE 2023 FINANCIAL YEAR, IN ACCORDANCE WITH ANNEX III OF THE MANAGEMENT…

No official resultsCAPITAL STRUCTURE

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 11 asset managers

Description as filed by funds: PROPOSAL FOR THE ALLOCATION OF THE RESULTS FOR THE 2023 FINANCIAL YEAR, IN ACCORDANCE WITH ANNEX III OF THE MANAGEMENT PROPOSAL

The 11 asset managers below reported 5,136,471 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 5,136,471
Largest asset managers voting on “PROPOSAL FOR THE ALLOCATION OF THE RESULTS FOR THE 2023 FINANCIAL YEAR, IN ACCORDANCE WITH ANNEX III OF THE MA” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
ADVISORS SERIES TRUST2,855,3000 00For
Jackson National633,9040 00For
John Hancock553,3770 00For
JPMorgan506,4000 00For
Brown Advisory Funds296,0000 00For
CULLEN FUNDS TRUST111,5100 00For
Krane Shares Trust69,9000 00For
Cambria ETF Trust64,2000 00For
GPS Funds I19,7800 00For
Advisors' Inner Circle Fund III19,1000 00For
WILSHIRE MUTUAL FUNDS INC7,0000 00For

35. APPROVE THE VALUATION REPORT, PREPARED BY MACSO.

Combines 2 wordings of this item as funds reported it.

100% of fund votes cast · no official result

FOR
Details: votes by 40 asset managers

The 40 asset managers below reported 9,657,688 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 9,657,688
Largest asset managers voting on “APPROVE THE VALUATION REPORT, PREPARED BY MACSO.” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
ADVISORS SERIES TRUST2,855,3000 00For
JPMorgan1,636,2690 00For
Jackson National994,8990 00For
John Hancock702,6690 00For
Brookfield Investment Funds575,1540 00For
Virtus309,2000 00For
Brown Advisory Funds296,0000 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
PERMANENT PORTFOLIO FAMILY OF FUNDS200,0000 00For
Clough Global Opportunities Fund168,9000 00For
Gateway Trust136,8420 00For
CULLEN FUNDS TRUST111,5100 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust77,3310 00For
Krane Shares Trust69,9000 00For
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Cambria ETF Trust64,2000 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
Investment Managers Series Trust40,0000 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For

Showing the 25 largest of 40 asset managers. See all 40 in the interactive database.

36. Approve Remuneration of Company's Management and Fiscal Council

Combines 2 wordings of this item as funds reported it.

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: votes by 76 asset managers

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 71 asset managers voting on “Approve Remuneration of Company's Management and Fiscal Council” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Capital Group205,604,5000 00For
BlackRock118,796,5730 00For
Vanguard109,296,9390 00For
Fidelity42,080,6520 00For
TIAA14,283,2540 00For
Invesco13,338,2470 00For
Dimensional13,140,1470 00For
State Street10,910,4000 00For
MFS9,300,0030 00For
INTERNATIONAL GROWTH & INCOME FUND8,783,2960 00For
T. Rowe Price8,582,1250 00For
WisdomTree6,902,3980 00For
Delaware/Macquarie5,363,6230 00For
GMO4,388,9250 00For
DWS3,108,2460 00For
Lazard2,830,1950 00For
Franklin Templeton2,088,4580 00For
Goldman Sachs1,919,8000 00For
PIMCO1,618,5000 00For
American Century1,497,8990 00For
Allspring1,392,0980 00For
Victory Capital1,296,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,143,4470 00For
Aberdeen828,3000 00For
Northern Trust745,1130 00For

Fund voting reports, all 71 managers: 598,775,213 for. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 5 asset managers voting on “Approve Remuneration of Company's Management and Fiscal Council” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
APG Asset Management US Inc.19,219,0880 00For
RWC ASSET ADVISORS (US) LLC5,895,8690 00For
RWC Asset Management LLP4,137,5000 00For
Warren Street Wealth Advisors, LLC2,1590 00For
Keel Point, LLC1,0430 00For

Institutional-manager reports, all 5 managers: 29,255,659 for.

37. SETTING THE GLOBAL ANNUAL COMPENSATION OF ADMINISTRATORS AND MEMBERS OF THE FISCAL COUNCIL FOR THE YEAR 2024, IN…

Combines 4 wordings of this item as funds reported it.

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: description as filed, votes by 43 asset managers

Description as filed by funds: SETTING THE GLOBAL ANNUAL COMPENSATION OF ADMINISTRATORS AND MEMBERS OF THE FISCAL COUNCIL FOR THE YEAR 2024, IN ACCORDANCE WITH THE MANAGEMENT PROPOSAL, EXHIBIT IV.

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 29 asset managers voting on “SETTING THE GLOBAL ANNUAL COMPENSATION OF ADMINISTRATORS AND MEMBERS OF THE FISCAL COUNCIL FOR THE YEAR 2024, ” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
JPMorgan1,129,8690 00For
Brookfield Investment Funds575,1540 00For
Jackson National360,9950 00For
Virtus309,2000 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
PERMANENT PORTFOLIO FAMILY OF FUNDS200,0000 00For
Clough Global Opportunities Fund168,9000 00For
John Hancock149,2920 00For
Gateway Trust136,8420 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust77,3310 00For
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
Investment Managers Series Trust40,0000 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For
PFM Multi-Manager Series Trust35,4260 00For
Calamos26,4500 00For
TIMOTHY PLAN22,3630 00For
Principal20,1000 00For
Gabelli10,0000 00For

Fund voting reports, all 29 managers: 4,520,652 for. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 12 asset managers voting on “SETTING THE GLOBAL ANNUAL COMPENSATION OF ADMINISTRATORS AND MEMBERS OF THE FISCAL COUNCIL FOR THE YEAR 2024, ” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Clark Capital Management Group, Inc.2,740,5110 00For
CONTRARIAN CAPITAL MANAGEMENT, L.L.C.1,522,4830 00For
Janney Montgomery Scott LLC121,0200 00For
Belpointe Asset Management LLC10,5880 00For
EXENCIAL WEALTH ADVISORS, LLC1,0000 00For
Berkeley Capital Partners, LLC3650 00For
MERIDIAN MANAGEMENT CO3180 00For
Boltwood Capital Management2000 00For
Newman Dignan & Sheerar, Inc.1800 00For
Perfromance Wealth Partners, LLC1000 00For
Argyle Capital Management Inc.750 00For
HOHIMER WEALTH MANAGEMENT, LLC10 00For

Institutional-manager reports, all 12 managers: 4,396,841 for.

38. SETTING THE GLOBAL ANNUAL COMPENSATION OF ADMINISTRATORS AND MEMBERS OF THE FISCAL COUNCIL FOR THE YEAR 2024, IN…

No official resultsFund totals may overlapSECTION 14A SAY-ON-PAY VOTES

100% Fund and manager reports combined; may count the same shares twice · no official result

FOR
Details: description as filed, votes by 12 asset managers

Description as filed by funds: SETTING THE GLOBAL ANNUAL COMPENSATION OF ADMINISTRATORS AND MEMBERS OF THE FISCAL COUNCIL FOR THE YEAR 2024, IN ACCORDANCE WITH THE MANAGEMENT PROPOSAL, ANNEX IV

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice). The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

Fund voting reports: 11 asset managers voting on “SETTING THE GLOBAL ANNUAL COMPENSATION OF ADMINISTRATORS AND MEMBERS OF THE FISCAL COUNCIL FOR THE YEAR 2024, ” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
ADVISORS SERIES TRUST2,855,3000 00For
Jackson National633,9040 00For
John Hancock553,3770 00For
JPMorgan506,4000 00For
Brown Advisory Funds296,0000 00For
CULLEN FUNDS TRUST111,5100 00For
Krane Shares Trust69,9000 00For
Cambria ETF Trust64,2000 00For
GPS Funds I19,7800 00For
Advisors' Inner Circle Fund III19,1000 00For
WILSHIRE MUTUAL FUNDS INC7,0000 00For

Fund voting reports, all 11 managers: 5,136,471 for.

Institutional-manager reports: 1 asset manager voting on “SETTING THE GLOBAL ANNUAL COMPENSATION OF ADMINISTRATORS AND MEMBERS OF THE FISCAL COUNCIL FOR THE YEAR 2024, ” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Encompass Capital Advisors LLC1,574,1140 00For

Institutional-manager reports, all 1 managers: 1,574,114 for.

39. Remuneration Policy

99.9% of fund votes cast · no official result

FOR
Details: votes by 17 asset managers

The 17 asset managers below reported 29,204,298 for, 850 against. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 29,204,298AGAINST: 850
Largest asset managers voting on “Remuneration Policy” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
Charles Schwab15,668,2950 00For
Hartford5,321,8910 00For
Russell Investments1,900,1430 00For
Brighthouse1,152,8000 00For
VanEck ETF Trust961,8310 00For
VanEck Funds855,3000 00For
Fidelity795,0240 00For
Vanguard577,4480 00For
Prudential/PGIM533,5960 00For
Mercer Funds507,8000 00For
SEI432,9820 00For
VanEck VIP Trust414,4000 00For
Goldman Sachs39,4500 00For
Global X24,0140 00For
ADVISORS' INNER CIRCLE FUND16,5000 00For
Federated Hermes2,8240 00For
Genus Capital Management Inc.0850 00Against

40. Ratify the appointment of Macso Legate Auditores Independentes ("Macso"), a specialized company hired to carry out the…

No official resultsAUDIT-RELATED

Combines 3 wordings of this item as funds reported it.

100% of fund votes cast · no official result

FOR
Details: description as filed, votes by 39 asset managers

Description as filed by funds: Ratify the appointment of Macso Legate Auditores Independentes ("Macso"), a specialized company hired to carry out the evaluation of the FRD.

The 39 asset managers below reported 9,635,325 for. The figure above is FOR ÷ (FOR + AGAINST + WITHHELD) of the shares these managers voted; abstained and unvoted shares are in neither half, and these managers are a subset of all shareholders, not the meeting result.

FOR: 9,635,325
Largest asset managers voting on “Ratify the appointment of Macso Legate Auditores Independentes ("Macso"), a specialized company hired to carry” at VALE SA, 2023-2024
Asset managerForAgainst AbstainWithheldVote
ADVISORS SERIES TRUST2,855,3000 00For
JPMorgan1,636,2690 00For
Jackson National994,8990 00For
John Hancock702,6690 00For
Brookfield Investment Funds575,1540 00For
Virtus309,2000 00For
Brown Advisory Funds296,0000 00For
Miller/Howard High Income Equity Fund275,0000 00For
Cohen & Steers265,0570 00For
Tidal ETF Trust233,4120 00For
PERMANENT PORTFOLIO FAMILY OF FUNDS200,0000 00For
Clough Global Opportunities Fund168,9000 00For
Gateway Trust136,8420 00For
CULLEN FUNDS TRUST111,5100 00For
Pacer Funds Trust110,4360 00For
Clough Global Equity Fund99,7000 00For
Listed Funds Trust77,3310 00For
Krane Shares Trust69,9000 00For
TRUST FOR PROFESSIONAL MANAGERS69,4840 00For
Cambria ETF Trust64,2000 00For
Clough Global Dividend & Income Fund56,3000 00For
TrimTabs ETF Trust51,8830 00For
Investment Managers Series Trust40,0000 00For
ETF Opportunities Trust39,5410 00For
NEOS ETF Trust35,6720 00For

Showing the 25 largest of 39 asset managers. See all 39 in the interactive database.

Showing the 40 reported items with the widest manager coverage, of 54 in total. View every item.

Largest VALE SA shareholders voting in 2023-2024

Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported.

Fund voting reports: top VALE SA shareholders by shares voted on “Approve Absorption of FRD”, 2023-2024
#Asset manager Shares voted
1Capital Group 205,604,500
2BlackRock 118,796,573
3Vanguard 109,296,939
4Fidelity 42,080,652
5TIAA 14,283,254
6Invesco 13,338,247
7Dimensional 13,140,147
8State Street 10,910,400
9MFS 9,300,003
10INTERNATIONAL GROWTH & INCOME FUND 8,783,296
Institutional-manager reports: top VALE SA shareholders by shares voted on “SETTING THE GLOBAL ANNUAL COMPENSATION OF ADMINISTRATORS AND MEMBERS OF THE FISCAL COUNCIL FOR…”, 2023-2024
#Asset manager Shares voted
1Clark Capital Management Group, Inc. 2,740,511
2CONTRARIAN CAPITAL MANAGEMENT, L.L.C. 1,522,483
3Janney Montgomery Scott LLC 121,020
4Belpointe Asset Management LLC 10,588
5EXENCIAL WEALTH ADVISORS, LLC 1,000
6Berkeley Capital Partners, LLC 365
7MERIDIAN MANAGEMENT CO 318
8Boltwood Capital Management 200
9Newman Dignan & Sheerar, Inc. 180
10Perfromance Wealth Partners, LLC 100

Shown as share counts, not percentages: no shares-outstanding figure has been matched to VALE SA for the 2023-2024 season, so there is no denominator to divide by.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. This page is a static snapshot rebuilt weekly on October 25, 2026; a live search always shows the current data.

At VALE SA's shareholder meeting held April 26, 2024, in the 2023-2024 proxy season, 142 asset managers reported how they voted in their SEC Form N-PX filings, covering 4,195 separate fund positions. Their filings are grouped here into 54 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — Approve Absorption of FRD — the reporting funds cast 100% of the shares they voted in favour (FOR divided by FOR plus AGAINST plus WITHHELD; abstained and unvoted shares are excluded because neither took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

VALE SA proxy season coverage: 2023-2024 (this page) · 2024-2025 · 2025-2026.

Download data (CSV): ballot items · votes by manager · column guide.