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VALE SA 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings. Page generated October 18, 2026.

  • 158Reported items
  • 148Asset managers
  • 15,814Fund votes
  • April 30, 2025Main meeting 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 2024-2025 meetings

Each item below shows how the 148 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 Manuel Lino Silva de Sousa Oliveira (Ollie) as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

98% of fund votes cast · no official result

FOR
Details: votes by 108 asset managers

The 108 asset managers below reported 629,434,044 for, 12,965,205 against, 36,491 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: 629,434,044AGAINST: 12,965,205ABSTAIN: 36,491
Largest asset managers voting on “Elect Manuel Lino Silva de Sousa Oliveira (Ollie) as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,689,9000 00For
Vanguard105,404,9870 00For
EUPAC FUND43,473,7740 00For
Advisors' Inner Circle Fund III23,562,4860 00For
Dimensional23,138,1140 00For
Charles Schwab21,445,4580 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
BlackRock15,475,6470 00For
T. Rowe Price011,174,436 00Against
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
Jackson National3,988,9120 00For
Hartford3,923,7450 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For

Showing the 25 largest of 108 asset managers. See all 108 in the interactive database.

2. Elect Reinaldo Duarte Castanheira Filho as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

99.7% of fund votes cast · no official result

FOR
Details: votes by 108 asset managers

The 108 asset managers below reported 629,760,286 for, 1,706,922 against, 36,491 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: 629,760,286AGAINST: 1,706,922ABSTAIN: 36,491
Largest asset managers voting on “Elect Reinaldo Duarte Castanheira Filho as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group165,134,9510 00For
Fidelity108,435,4070 00For
Vanguard103,426,0440 00For
EUPAC FUND43,473,7740 00For
Advisors' Inner Circle Fund III23,561,6110 00For
Dimensional23,138,1140 00For
Charles Schwab21,445,4580 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
BlackRock15,475,6470 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
Jackson National3,988,9120 00For
Hartford3,923,7450 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For

Showing the 25 largest of 108 asset managers. See all 108 in the interactive database.

3. Elect Daniel Andre Stieler as Board Chair

No official resultsCORPORATE GOVERNANCE

Meeting held April 30, 2025; no official results are on file for this meeting.

76% of fund votes cast · no official result

FORAGAINST
Details: votes by 89 asset managers

The 89 asset managers below reported 473,633,530 for, 145,938,092 against, 36,491 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: 473,633,530AGAINST: 145,938,092ABSTAIN: 36,491
Largest asset managers voting on “Elect Daniel Andre Stieler as Board Chair” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity103,379109,586,521 00Against
Vanguard105,404,9870 00For
EUPAC FUND43,473,7740 00For
Advisors' Inner Circle Fund III21,338,9862,223,500 00Mixed
Dimensional23,138,1140 00For
Charles Schwab021,445,458 00Against
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
Hartford3,923,7450 00For
State Street3,754,6540 00For
GMO3,406,180100,996 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs02,212,100 00Against
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Russell Investments01,414,297 00Against

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

4. Elect Marcelo Gasparino da Silva as Board Vice-Chair

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

99.1% of fund votes cast · no official result

FOR
Details: votes by 89 asset managers

The 89 asset managers below reported 614,522,700 for, 5,048,922 against, 36,491 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: 614,522,700AGAINST: 5,048,922ABSTAIN: 36,491
Largest asset managers voting on “Elect Marcelo Gasparino da Silva as Board Vice-Chair” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,689,9000 00For
Vanguard105,404,9870 00For
EUPAC FUND43,473,7740 00For
Advisors' Inner Circle Fund III23,562,4860 00For
Dimensional23,138,1140 00For
Charles Schwab21,445,4580 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
Hartford3,923,7450 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs02,212,100 00Against
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Russell Investments1,414,2970 00For

Showing the 25 largest of 89 asset managers. See all 89 in the interactive database.

5. Do You Wish to Adopt Cumulative Voting for the Election of the Members of the Board of Directors, Under the Terms of…

No official resultsSHAREHOLDER RIGHTS AND DEFENSES

Meeting held April 30, 2025; no official results are on file for this meeting.

2% of fund votes cast · no official result

AGAINSTABSTAIN
Details: description as filed, votes by 78 asset managers

Description as filed by funds: Do You Wish to Adopt Cumulative Voting for the Election of the Members of the Board of Directors, Under the Terms of Article 141 of the Brazilian Corporate Law?

The 78 asset managers below reported 1,706,922 for, 95,916,063 against, 487,019,782 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: 1,706,922AGAINST: 95,916,063ABSTAIN: 487,019,782
Largest asset managers voting on “Do You Wish to Adopt Cumulative Voting for the Election of the Members of the Board of Directors, Under the Te” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group00 172,033,8860Abstain
Fidelity082,670,138 26,916,3830Mixed
Vanguard0563,100 103,336,8330Abstain
EUPAC FUND00 43,473,7740Abstain
Dimensional00 23,138,1140Abstain
Advisors' Inner Circle Fund III00 21,338,9860Abstain
TIAA00 21,169,2910Abstain
MFS00 16,227,6320Abstain
T. Rowe Price00 11,174,4360Abstain
PIMCO00 10,375,5000Abstain
Lazard04,958,811 00Against
American Century00 4,136,7460Abstain
State Street03,754,654 00Against
GMO00 3,507,1760Abstain
INTERNATIONAL GROWTH & INCOME FUND00 3,477,3470Abstain
Advisors' Inner Circle Fund II00 2,606,0820Abstain
Franklin Templeton272,3230 2,060,4200Mixed
Goldman Sachs00 2,212,1000Abstain
DWS00 1,717,0510Abstain
DRIEHAUS MUTUAL FUNDS00 1,691,4290Abstain
Allspring00 1,590,9780Abstain
Delaware/Macquarie00 1,585,1480Abstain
Northern Trust00 1,290,5130Abstain
TEMPLETON DEVELOPING MARKETS TRUST1,203,0040 00For
Global Macro Absolute Return Advantage Portfolio00 1,175,4010Abstain

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

6. Elect Anelise Quintao Lara as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.7% of fund votes cast · no official result

FOR
Details: votes by 78 asset managers

The 78 asset managers below reported 582,935,845 for, 1,706,922 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: 582,935,845AGAINST: 1,706,922
Largest asset managers voting on “Elect Anelise Quintao Lara as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

7. Elect Aristoteles Nogueira Filho as Fiscal Council Member and Leda Maria Deiro Hahn as Alternate Appointed by Franklin…

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

98% of fund votes cast · no official result

FOR
Details: description as filed, votes by 78 asset managers

Description as filed by funds: Elect Aristoteles Nogueira Filho as Fiscal Council Member and Leda Maria Deiro Hahn as Alternate Appointed by Franklin Templeton Investimentos Brasil, Argucia Capital Management, and Capstone Partners

The 78 asset managers below reported 570,946,281 for, 11,258,283 against, 2,438,203 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: 570,946,281AGAINST: 11,258,283ABSTAIN: 2,438,203
Largest asset managers voting on “Elect Aristoteles Nogueira Filho as Fiscal Council Member and Leda Maria Deiro Hahn as Alternate Appointed by ” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price011,174,436 00Against
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,332,7430 00For
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST1,203,0040 00For
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

8. Elect Daniel Andre Stieler as Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

78% of fund votes cast · no official result

FORAGAINST
Details: votes by 78 asset managers

The 78 asset managers below reported 457,228,545 for, 127,414,222 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: 457,228,545AGAINST: 127,414,222
Largest asset managers voting on “Elect Daniel Andre Stieler as Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity0109,586,521 00Against
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price011,174,436 00Against
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,406,180100,996 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs02,212,100 00Against
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

9. Elect Fernando Jorge Buso Gomes as Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

45.8% of fund votes cast · no official result

FORAGAINST
Details: votes by 78 asset managers

The 78 asset managers below reported 267,394,431 for, 317,021,476 against, 226,860 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: 267,394,431AGAINST: 317,021,476ABSTAIN: 226,860
Largest asset managers voting on “Elect Fernando Jorge Buso Gomes as Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group0172,033,886 00Against
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND043,473,774 00Against
Dimensional023,138,114 00Against
Advisors' Inner Circle Fund III21,338,111875 00For
TIAA021,169,291 00Against
MFS16,227,6320 00For
T. Rowe Price011,174,436 00Against
PIMCO010,375,500 00Against
Lazard04,958,811 00Against
American Century04,136,746 00Against
State Street3,754,6540 00For
GMO3,406,180100,996 00For
INTERNATIONAL GROWTH & INCOME FUND03,477,347 00Against
Advisors' Inner Circle Fund II02,606,082 00Against
Franklin Templeton02,332,743 00Against
Goldman Sachs2,212,1000 00For
DWS01,717,051 00Against
DRIEHAUS MUTUAL FUNDS01,691,429 00Against
Allspring01,590,978 00Against
Delaware/Macquarie01,585,148 00Against
Northern Trust01,290,513 00Against
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio01,175,401 00Against

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

10. Elect Franklin Lee Feder as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.7% of fund votes cast · no official result

FOR
Details: votes by 78 asset managers

The 78 asset managers below reported 582,935,845 for, 1,706,922 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: 582,935,845AGAINST: 1,706,922
Largest asset managers voting on “Elect Franklin Lee Feder as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

11. Elect Heloisa Belotti Bedicks as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.7% of fund votes cast · no official result

FOR
Details: votes by 78 asset managers

The 78 asset managers below reported 573,419,647 for, 1,706,922 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: 573,419,647AGAINST: 1,706,922
Largest asset managers voting on “Elect Heloisa Belotti Bedicks as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group165,134,9510 00For
Fidelity108,332,0280 00For
Vanguard103,336,8330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,1110 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

12. Elect Joao Luiz Fukunaga as Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

50.8% of fund votes cast · no official result

FORAGAINST
Details: votes by 78 asset managers

The 78 asset managers below reported 297,195,881 for, 287,446,886 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: 297,195,881AGAINST: 287,446,886
Largest asset managers voting on “Elect Joao Luiz Fukunaga as Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group31,266,108140,767,778 00Mixed
Fidelity26,916,38382,670,138 00Mixed
Vanguard103,899,9330 00For
EUPAC FUND043,473,774 00Against
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price011,174,436 00Against
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND03,477,347 00Against
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

13. Elect Marcelo Gasparino da Silva as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

97% of fund votes cast · no official result

FOR
Details: votes by 78 asset managers

The 78 asset managers below reported 568,335,562 for, 16,307,205 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: 568,335,562AGAINST: 16,307,205
Largest asset managers voting on “Elect Marcelo Gasparino da Silva as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price011,174,436 00Against
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs02,212,100 00Against
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

14. Elect Marcio de Souza as Fiscal Council Member and Alessandra Eloy Gadelha as Alternate Appointed by Caixa de…

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

60% of fund votes cast · no official result

FORAGAINST
Details: description as filed, votes by 78 asset managers

Description as filed by funds: Elect Marcio de Souza as Fiscal Council Member and Alessandra Eloy Gadelha as Alternate Appointed by Caixa de Previdencia dos Funcionarios do Banco do Brasil - Previ

The 78 asset managers below reported 348,877,552 for, 230,806,390 against, 4,958,825 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: 348,877,552AGAINST: 230,806,390ABSTAIN: 4,958,825
Largest asset managers voting on “Elect Marcio de Souza as Fiscal Council Member and Alessandra Eloy Gadelha as Alternate Appointed by Caixa de ” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group0172,033,886 00Against
Fidelity109,586,5210 00For
Vanguard103,336,833563,100 00For
EUPAC FUND043,473,774 00Against
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price011,174,436 00Against
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND03,477,347 00Against
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,4200 272,3230Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST00 1,203,0040Abstain
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

15. Elect Rachel de Oliveira Maia as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

97% of fund votes cast · no official result

FOR
Details: votes by 78 asset managers

The 78 asset managers below reported 569,048,166 for, 15,594,601 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: 569,048,166AGAINST: 15,594,601
Largest asset managers voting on “Elect Rachel de Oliveira Maia as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price011,174,436 00Against
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,406,180100,996 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs02,212,100 00Against
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

16. Elect Shunji Komai as Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

83% of fund votes cast · no official result

FORAGAINST
Details: votes by 78 asset managers

The 78 asset managers below reported 485,728,480 for, 98,914,287 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: 485,728,480AGAINST: 98,914,287
Largest asset managers voting on “Elect Shunji Komai as Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity26,916,38382,670,138 00Mixed
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price011,174,436 00Against
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

17. Elect Wilfred Theodoor Bruijn (Bill) as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.7% of fund votes cast · no official result

FOR
Details: votes by 78 asset managers

The 78 asset managers below reported 582,935,845 for, 1,706,922 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: 582,935,845AGAINST: 1,706,922
Largest asset managers voting on “Elect Wilfred Theodoor Bruijn (Bill) as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

18. Percentage of Votes to Be Assigned - Elect Anelise Quintao Lara as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.4% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 323,813,762 for, 1,706,922 against, 259,122,083 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: 323,813,762AGAINST: 1,706,922ABSTAIN: 259,122,083
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Anelise Quintao Lara as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group66,770,9880 105,262,8980Mixed
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND00 43,473,7740Abstain
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND00 3,477,3470Abstain
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

19. Percentage of Votes to Be Assigned - Elect Daniel Andre Stieler as Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

91% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 296,070,426 for, 28,636,558 against, 259,935,783 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: 296,070,426AGAINST: 28,636,558ABSTAIN: 259,935,783
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Daniel Andre Stieler as Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group66,770,9880 105,262,8980Mixed
Fidelity026,916,383 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND00 43,473,7740Abstain
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND00 3,477,3470Abstain
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

20. Percentage of Votes to Be Assigned - Elect Fernando Jorge Buso Gomes as Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

40% of fund votes cast · no official result

FORAGAINSTABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 189,626,556 for, 287,067,587 against, 107,948,624 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: 189,626,556AGAINST: 287,067,587ABSTAIN: 107,948,624
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Fernando Jorge Buso Gomes as Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group0172,033,886 00Against
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND043,473,774 00Against
Dimensional023,138,114 00Against
Advisors' Inner Circle Fund III21,338,111875 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO010,375,500 00Against
Lazard04,958,811 00Against
American Century04,136,746 00Against
State Street3,754,6540 00For
GMO3,406,180100,996 00For
INTERNATIONAL GROWTH & INCOME FUND03,477,347 00Against
Advisors' Inner Circle Fund II02,606,082 00Against
Franklin Templeton02,332,743 00Against
Goldman Sachs02,212,100 00Against
DWS01,717,051 00Against
DRIEHAUS MUTUAL FUNDS01,691,429 00Against
Allspring01,590,978 00Against
Delaware/Macquarie01,585,148 00Against
Northern Trust01,290,513 00Against
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio01,175,401 00Against

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

21. Percentage of Votes to Be Assigned - Elect Franklin Lee Feder as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.4% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 323,813,762 for, 1,706,922 against, 259,122,083 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: 323,813,762AGAINST: 1,706,922ABSTAIN: 259,122,083
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Franklin Lee Feder as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group66,770,9880 105,262,8980Mixed
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND00 43,473,7740Abstain
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND00 3,477,3470Abstain
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

22. Percentage of Votes to Be Assigned - Elect Heloisa Belotti Bedicks as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.4% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 323,813,762 for, 1,706,922 against, 259,122,083 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: 323,813,762AGAINST: 1,706,922ABSTAIN: 259,122,083
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Heloisa Belotti Bedicks as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group66,770,9880 105,262,8980Mixed
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND00 43,473,7740Abstain
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND00 3,477,3470Abstain
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

23. Percentage of Votes to Be Assigned - Elect Joao Luiz Fukunaga as Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

60% of fund votes cast · no official result

FORAGAINSTABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 287,473,282 for, 189,425,821 against, 107,743,664 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: 287,473,282AGAINST: 189,425,821ABSTAIN: 107,743,664
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Joao Luiz Fukunaga as Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group31,266,108140,767,778 00Mixed
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND043,473,774 00Against
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND03,477,347 00Against
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

24. Percentage of Votes to Be Assigned - Elect Manuel Lino Silva de Sousa Oliveira (Ollie) as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.6% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 476,027,781 for, 1,706,922 against, 106,908,064 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: 476,027,781AGAINST: 1,706,922ABSTAIN: 106,908,064
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Manuel Lino Silva de Sousa Oliveira (Ollie) as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

25. Percentage of Votes to Be Assigned - Elect Marcelo Gasparino da Silva as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.4% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 323,000,062 for, 1,706,922 against, 259,935,783 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: 323,000,062AGAINST: 1,706,922ABSTAIN: 259,935,783
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Marcelo Gasparino da Silva as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group66,770,9880 105,262,8980Mixed
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND00 43,473,7740Abstain
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND00 3,477,3470Abstain
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

26. Percentage of Votes to Be Assigned - Elect Rachel de Oliveira Maia as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.4% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 323,813,762 for, 1,706,922 against, 259,122,083 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: 323,813,762AGAINST: 1,706,922ABSTAIN: 259,122,083
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Rachel de Oliveira Maia as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group66,770,9880 105,262,8980Mixed
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND00 43,473,7740Abstain
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND00 3,477,3470Abstain
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

27. Percentage of Votes to Be Assigned - Elect Reinaldo Duarte Castanheira Filho as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.4% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 323,813,762 for, 1,706,922 against, 259,122,083 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: 323,813,762AGAINST: 1,706,922ABSTAIN: 259,122,083
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Reinaldo Duarte Castanheira Filho as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group66,770,9880 105,262,8980Mixed
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND00 43,473,7740Abstain
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND00 3,477,3470Abstain
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

28. Percentage of Votes to Be Assigned - Elect Shunji Komai as Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.4% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 322,978,162 for, 1,706,922 against, 259,957,683 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: 322,978,162AGAINST: 1,706,922ABSTAIN: 259,957,683
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Shunji Komai as Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group66,770,9880 105,262,8980Mixed
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND00 43,473,7740Abstain
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND00 3,477,3470Abstain
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

29. Percentage of Votes to Be Assigned - Elect Wilfred Theodoor Bruijn (Bill) as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

99.4% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 323,813,762 for, 1,706,922 against, 259,122,083 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: 323,813,762AGAINST: 1,706,922ABSTAIN: 259,122,083
Largest asset managers voting on “Percentage of Votes to Be Assigned - Elect Wilfred Theodoor Bruijn (Bill) as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group66,770,9880 105,262,8980Mixed
Fidelity26,916,3830 82,670,1380Mixed
Vanguard103,899,9330 00For
EUPAC FUND00 43,473,7740Abstain
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA00 21,169,2910Abstain
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND00 3,477,3470Abstain
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,420272,323 00Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

30. Elect Reinaldo Duarte Castanheira Filho as Independent Director

No official resultsDIRECTOR ELECTIONS

Meeting held November 14, 2024; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

100% of fund votes cast · no official result

FORABSTAIN
Details: votes by 78 asset managers

The 78 asset managers below reported 345,522,726 for, 124,539,091 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: 345,522,726ABSTAIN: 124,539,091
Largest asset managers voting on “Elect Reinaldo Duarte Castanheira Filho as Independent Director” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Vanguard112,612,5510 00For
Capital Group32,177,0600 79,994,8820Mixed
Fidelity54,156,9230 00For
EUPAC FUND00 41,056,2790Abstain
Charles Schwab18,207,1300 00For
TIAA15,967,3270 00For
T. Rowe Price12,493,5300 00For
MFS12,007,7660 00For
State Street10,475,1500 00For
WisdomTree10,285,7080 00For
Northern Trust9,147,9140 00For
PIMCO8,947,0000 00For
Dimensional8,054,7130 00For
GMO5,149,7380 00For
INTERNATIONAL GROWTH & INCOME FUND244,0960 3,487,9300Mixed
American Century3,060,7320 00For
Lazard2,763,1720 00For
Hartford2,669,2290 00For
Franklin Templeton2,348,0130 00For
DWS2,291,2230 00For
Delaware/Macquarie1,863,6230 00For
Allspring1,750,9780 00For
Prudential/PGIM1,464,2970 00For
TEMPLETON DEVELOPING MARKETS TRUST1,203,0040 00For
Advisors' Inner Circle Fund III1,191,5750 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

31. Elect Adriana de Andrade Sole as Fiscal Council Member and Pedro Zannoni as Alternate Appointed by Tempo Capital Gestao…

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

98% of fund votes cast · no official result

FOR
Details: description as filed, votes by 77 asset managers

Description as filed by funds: Elect Adriana de Andrade Sole as Fiscal Council Member and Pedro Zannoni as Alternate Appointed by Tempo Capital Gestao de Recursos Ltda., Alaska Investimentos Ltda. and Others

The 77 asset managers below reported 568,638,685 for, 11,821,383 against, 4,145,125 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: 568,638,685AGAINST: 11,821,383ABSTAIN: 4,145,125
Largest asset managers voting on “Elect Adriana de Andrade Sole as Fiscal Council Member and Pedro Zannoni as Alternate Appointed by Tempo Capit” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,336,833563,100 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price011,174,436 00Against
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,4200 272,3230Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST00 1,203,0040Abstain
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 77 asset managers. See all 77 in the interactive database.

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

No official resultsDIRECTOR ELECTIONS

Meeting held April 30, 2025; no official results are on file for this meeting.

98% of fund votes cast · no official result

FOR
Details: description as filed, votes by 77 asset managers

Description as filed by funds: Elect Raphael Manhaes Martins as Fiscal Council Member and Jandaraci Ferreira de Araujo as Alternate Appointed by Tempo Capital Gestao de Recursos Ltda., Alaska Investimentos Ltda. and Others

The 77 asset managers below reported 568,638,685 for, 11,821,383 against, 4,145,125 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: 568,638,685AGAINST: 11,821,383ABSTAIN: 4,145,125
Largest asset managers voting on “Elect Raphael Manhaes Martins as Fiscal Council Member and Jandaraci Ferreira de Araujo as Alternate Appointed” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,336,833563,100 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price011,174,436 00Against
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,060,4200 272,3230Mixed
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST00 1,203,0040Abstain
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 77 asset managers. See all 77 in the interactive database.

33. Approve Absorption of Acos Laminados do Para S.A. (ALPA)

No official resultsEXTRAORDINARY TRANSACTIONS

Meeting held November 14, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 74 asset managers

The 74 asset managers below reported 452,753,341 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: 452,753,341
Largest asset managers voting on “Approve Absorption of Acos Laminados do Para S.A. (ALPA)” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group112,171,9420 00For
Vanguard111,196,7080 00For
Fidelity53,714,6740 00For
EUPAC FUND41,056,2790 00For
Dimensional18,081,3640 00For
TIAA15,967,3270 00For
T. Rowe Price12,493,5300 00For
MFS12,007,7660 00For
State Street10,477,8500 00For
WisdomTree10,285,7080 00For
Northern Trust9,147,9140 00For
PIMCO8,947,0000 00For
GMO5,149,7380 00For
INTERNATIONAL GROWTH & INCOME FUND3,732,0260 00For
American Century3,060,7320 00For
Lazard2,763,1720 00For
Franklin Templeton2,348,0130 00For
DWS2,291,2230 00For
Delaware/Macquarie1,863,6230 00For
Allspring1,750,9780 00For
TEMPLETON DEVELOPING MARKETS TRUST1,203,0040 00For
Columbia Threadneedle970,1320 00For
Victory Capital966,4970 00For
AIG/SunAmerica882,4520 00For
Invesco826,7700 00For

Showing the 25 largest of 74 asset managers. See all 74 in the interactive database.

34. Approve Agreement to Absorb Acos Laminados do Para S.A. (ALPA)

No official resultsEXTRAORDINARY TRANSACTIONS

Meeting held November 14, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 74 asset managers

The 74 asset managers below reported 452,753,341 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: 452,753,341
Largest asset managers voting on “Approve Agreement to Absorb Acos Laminados do Para S.A. (ALPA)” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group112,171,9420 00For
Vanguard111,196,7080 00For
Fidelity53,714,6740 00For
EUPAC FUND41,056,2790 00For
Dimensional18,081,3640 00For
TIAA15,967,3270 00For
T. Rowe Price12,493,5300 00For
MFS12,007,7660 00For
State Street10,477,8500 00For
WisdomTree10,285,7080 00For
Northern Trust9,147,9140 00For
PIMCO8,947,0000 00For
GMO5,149,7380 00For
INTERNATIONAL GROWTH & INCOME FUND3,732,0260 00For
American Century3,060,7320 00For
Lazard2,763,1720 00For
Franklin Templeton2,348,0130 00For
DWS2,291,2230 00For
Delaware/Macquarie1,863,6230 00For
Allspring1,750,9780 00For
TEMPLETON DEVELOPING MARKETS TRUST1,203,0040 00For
Columbia Threadneedle970,1320 00For
Victory Capital966,4970 00For
AIG/SunAmerica882,4520 00For
Invesco826,7700 00For

Showing the 25 largest of 74 asset managers. See all 74 in the interactive database.

35. Approve Independent Firm's Appraisal

No official resultsEXTRAORDINARY TRANSACTIONS

Meeting held November 14, 2024; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 74 asset managers

The 74 asset managers below reported 452,753,341 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: 452,753,341
Largest asset managers voting on “Approve Independent Firm's Appraisal” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group112,171,9420 00For
Vanguard111,196,7080 00For
Fidelity53,714,6740 00For
EUPAC FUND41,056,2790 00For
Dimensional18,081,3640 00For
TIAA15,967,3270 00For
T. Rowe Price12,493,5300 00For
MFS12,007,7660 00For
State Street10,477,8500 00For
WisdomTree10,285,7080 00For
Northern Trust9,147,9140 00For
PIMCO8,947,0000 00For
GMO5,149,7380 00For
INTERNATIONAL GROWTH & INCOME FUND3,732,0260 00For
American Century3,060,7320 00For
Lazard2,763,1720 00For
Franklin Templeton2,348,0130 00For
DWS2,291,2230 00For
Delaware/Macquarie1,863,6230 00For
Allspring1,750,9780 00For
TEMPLETON DEVELOPING MARKETS TRUST1,203,0040 00For
Columbia Threadneedle970,1320 00For
Victory Capital966,4970 00For
AIG/SunAmerica882,4520 00For
Invesco826,7700 00For

Showing the 25 largest of 74 asset managers. See all 74 in the interactive database.

36. Fix Number of Directors at 13

No official resultsCORPORATE GOVERNANCE

Meeting held April 30, 2025; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 78 asset managers

The 78 asset managers below reported 584,642,767 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: 584,642,767
Largest asset managers voting on “Fix Number of Directors at 13” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,332,7430 00For
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST1,203,0040 00For
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

37. Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2024

No official resultsCORPORATE GOVERNANCE

Meeting held April 30, 2025; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 78 asset managers

The 78 asset managers below reported 584,537,858 for, 104,909 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: 584,537,858ABSTAIN: 104,909
Largest asset managers voting on “Accept Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 31, 2024” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,332,7430 00For
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST1,203,0040 00For
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

38. Approve Allocation of Income and Dividends

No official resultsCAPITAL STRUCTURE

Meeting held April 30, 2025; no official results are on file for this meeting.

100% of fund votes cast · no official result

FOR
Details: votes by 78 asset managers

The 78 asset managers below reported 584,642,767 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: 584,642,767
Largest asset managers voting on “Approve Allocation of Income and Dividends” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,332,7430 00For
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST1,203,0040 00For
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Showing the 25 largest of 78 asset managers. See all 78 in the interactive database.

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

Meeting held April 30, 2025; no official results are on file for this meeting.

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

FOR
Details: votes by 81 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: 78 asset managers voting on “Approve Remuneration of Company's Management and Fiscal Council” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity109,586,5210 00For
Vanguard103,899,9330 00For
EUPAC FUND43,473,7740 00For
Dimensional23,138,1140 00For
Advisors' Inner Circle Fund III21,338,9860 00For
TIAA21,169,2910 00For
MFS16,227,6320 00For
T. Rowe Price11,174,4360 00For
PIMCO10,375,5000 00For
Lazard4,958,8110 00For
American Century4,136,7460 00For
State Street3,754,6540 00For
GMO3,507,1760 00For
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II2,606,0820 00For
Franklin Templeton2,332,7430 00For
Goldman Sachs2,212,1000 00For
DWS1,717,0510 00For
DRIEHAUS MUTUAL FUNDS1,691,4290 00For
Allspring1,590,9780 00For
Delaware/Macquarie1,585,1480 00For
Northern Trust1,290,5130 00For
TEMPLETON DEVELOPING MARKETS TRUST1,203,0040 00For
Global Macro Absolute Return Advantage Portfolio1,175,4010 00For

Fund voting reports, all 78 managers: 584,642,767 for. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 3 asset managers voting on “Approve Remuneration of Company's Management and Fiscal Council” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
APG Asset Management US Inc.14,874,4680 00For
Fractal Investments LLC7,8000 00For
MILLER HOWARD INVESTMENTS INC /NY300 00For

Institutional-manager reports, all 3 managers: 14,882,298 for.

40. Amend Long-Term Incentive Plan

Meeting held April 30, 2025; no official results are on file for this meeting.

60% of fund votes cast · no official result

FORAGAINST
Details: votes by 79 asset managers

The 79 asset managers below reported 352,275,869 for, 232,380,668 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: 352,275,869AGAINST: 232,380,668
Largest asset managers voting on “Amend Long-Term Incentive Plan” at VALE SA, 2024-2025
Asset managerForAgainst AbstainWithheldVote
Capital Group172,033,8860 00For
Fidelity0109,586,521 00Against
Vanguard103,336,833563,100 00For
EUPAC FUND43,473,7740 00For
Dimensional023,138,114 00Against
Advisors' Inner Circle Fund III21,338,111875 00For
TIAA021,169,291 00Against
MFS1,473,90014,753,732 00Mixed
T. Rowe Price011,174,436 00Against
PIMCO010,375,500 00Against
Lazard04,958,811 00Against
American Century04,136,746 00Against
State Street3,754,6540 00For
GMO03,507,176 00Against
INTERNATIONAL GROWTH & INCOME FUND3,477,3470 00For
Advisors' Inner Circle Fund II02,606,082 00Against
Franklin Templeton02,332,743 00Against
Goldman Sachs02,212,100 00Against
DWS01,717,051 00Against
DRIEHAUS MUTUAL FUNDS01,691,429 00Against
Allspring01,590,978 00Against
Delaware/Macquarie01,585,148 00Against
Northern Trust01,290,513 00Against
TEMPLETON DEVELOPING MARKETS TRUST01,203,004 00Against
Global Macro Absolute Return Advantage Portfolio01,175,401 00Against

Showing the 25 largest of 79 asset managers. See all 79 in the interactive database.

Showing the 40 reported items with the widest manager coverage, of 158 in total. View every item.

Largest VALE SA shareholders voting in 2024-2025

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 “Elect Manuel Lino Silva de Sousa Oliveira (Ollie) as Independent Director”, 2024-2025
#Asset manager Shares voted
1Capital Group 172,033,886
2Fidelity 109,689,900
3Vanguard 105,404,987
4EUPAC FUND 43,473,774
5Advisors' Inner Circle Fund III 23,562,486
6Dimensional 23,138,114
7Charles Schwab 21,445,458
8TIAA 21,169,291
9MFS 16,227,632
10BlackRock 15,475,647
Institutional-manager reports: top VALE SA shareholders by shares voted on “SETTING THE GLOBAL ANNUAL COMPENSATION OF MANAGEMENT AND FISCAL COUNCIL MEMBERS FOR THE YEAR…”, 2024-2025
#Asset manager Shares voted
1Evolution Wealth Advisors, LLC 5,600
2Dynasty Wealth Management, LLC 3,007
3apricus wealth, LLC 1,700
4Petros Family Wealth, LLC 125

Shown as share counts, not percentages: no shares-outstanding figure has been matched to VALE SA for the 2024-2025 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 18, 2026; a live search always shows the current data.

At VALE SA's 2 shareholder meetings in the 2024-2025 proxy season (held November 14, 2024 and April 30, 2025), 148 asset managers reported how they voted in their SEC Form N-PX filings, covering 15,814 separate fund positions. Their filings are grouped here into 158 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 — Elect Manuel Lino Silva de Sousa Oliveira (Ollie) as Independent Director — the reporting funds cast 98% 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 · 2024-2025 (this page) · 2025-2026.

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