20240515_INCO_Laporan Informasi dan Fakta Material_31639490_lamp2.pdf

                          PT Vale Receives Extension of Operating Permit
                             (Special Mining Business Permit (IUPK))


Jakarta, May 15, 2024 – PT Vale Indonesia Tbk (“PT Vale” or “Company”, IDX Ticker: INCO)
officially received an extension of its operating permit (for the period up to December 28, 2035)
following the issuance of a Special Mining Business Permit (IUPK) in the name of PT Vale.
The IUPK, received by the Company on May 13, 2024, provides legal certainty for the
Company to operate within its concession area and to execute its business’ growth strategy.

Based on the IUPK, PT Vale is obligated to complete the construction of its new processing
and/or refining facilities, including further downstream facilities, within the stipulated timeline.
These developments will be conducted in accordance with the applicable laws and
regulations, feasibility studies, and the Company’s policies and practices (including good
mining practices as well as environmental, social and governance).

As an IUPK holder, PT Vale is now subject to payments of IUPK profit sharing of 10% from its
Net Income to the Government of Indonesia in accordance with prevailing regulations. This
will increase the Company’s contribution to the state as well as to the regions.

Subject to the terms and conditions as stated in the IUPK (including the completion of the
divestment of PT VaIe, as reported in release dated February 26, 2024), the IUPK is valid for
the remaining term of the Contract of Work (December 28, 2025) as well as for the first
extension period of 10 years (until December 28, 2035). The IUPK can be further extended
(each extension for a 10-year period) in accordance with applicable regulations.

Febriany Eddy, CEO and President Director of the Company, expressed her gratitude for the
trust and support that the Government of Indonesia has given to the Company, and sincerely
thanked and appreciated contribution from all parties. The Company remains determined to
move forward together with all stakeholders to bring greatest benefits for all.




                                                                           For further information, please contact:
                                                                        Bernardus Irmanto, Chief Financial Officer
                                                                                    ptvi.investorrelation@vale.com

                                                                                   Bayu Aji, Head of Communications
                                                                                                  Bayu.Aji@vale.com

                                                                                                   or visit our website at
                                                                                                 www.vale.com/indonesia




PT Vale Indonesia Tbk
Jakarta: Sequis Tower, 20th Floor, Unit 6 & 7, Jl. Jend. Sudirman Kav. 71, Jakarta 12190, Indonesia. T (62) 21 524 9000 F.(62) 21 524
9020
Makassar: Jl. Somba Opu No. 281, Makassar 90113, Indonesia. T.(62) 411 366 9000 F.(62) 411 366 9020
Sorowako: Main Office Plant Site Sorowako, Luwu Timur 92984, Indonesia. T.(62) 475 332 9100 F.(62) 475 332 9575
www.vale.com/indonesia