To answer your question directly; all vectors "add up", meaning we can decompose all dynamics into a sum of dynamics in different directions; the most basic of which being 2D motion decomposed into x-direction motion plus y-direction motion.
Here in the y-direction our equation of motion would be some initial velocity upwards, with constant acceleration down (gravity); you can use this to calculate the y-direction kinematics of the object.
Now in the x-direction, our equation of motion would be the initial velocity which we had on the conveyor belt (which the ball also had), and there is no net force in the x direction, so the acceleration is 0. Therefore it maintains the conveyer belt velocity in the air.
So the height of the object is changing with constant acceleration, but while this acceleration is happening its x-velocity, is the same as ours on the conveyer belt, as a result it will alway have the same x-coordinate as us moving on the conveyor belt, and inevitably when it falls back to our y-level, it will still have the same x-coordinate as us, and land in our hand.