Rio Tinto Plc · LSE:RIO

Rio Tinto — FY2023 Earnings Presentation

80 slides from Rio Tinto's earnings presentation, Feb 21, 2024

1. Slide 1: Notice to ASX: 2023 Full year results presentation

   Notice to ASX 2023 Full year results presentation 21 February 2024 The Rio Tinto 2023 full year results presentation will be given at 8:00am (GMT) / 7:00pm (AEDT) today by our Chief Executive, Jakob Stausholm and Chief Financial Officer, Peter Cunningham. The presentation slides are attached and are

2. Slide 2: Notice to ASX/LSE: Contacts

   Notice to ASX/LSE 2/2 Contacts Please direct all enquiries to media.enquiries@riotinto.com Media Relations, Media Relations, Media Relations, United Kingdom Australia Americas Matthew Klar Matt Chambers Simon Letendre M +44 7796 630 637 M +61 433 525 739 M +1 514 796 4973 David Outhwaite Jesse Riseb

3. Slide 3: 2023 Full Year Results

   For personal use only 2023 Full Year Results 21 February 2024 Rhodes Ridge, Australia

4. Slide 4: Cautionary and supporting statements

   Cautionary and supporting statements For personal use only This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (together with their subsidiaries, “Rio forward-looking statements. These forward-looking statements speak only as of the date of this report. Rio Tinto Tinto”). By a

5. Slide 5: Cautionary and supporting statements (cont.)

   Cautionary and supporting statements (cont.) For personal use only Simandou - Ore Reserves Simandou Ore Reserves referenced on slide 54 are based on the Ore Reserves as reported in Rio Tinto’s 2023 Annual Report released to the Australian Securities Exchange (ASX) on 21 February 2023 and available a

6. Slide 6: Jakob Stausholm, Chief Executive: safety statement

   For personal use only Jakob Stausholm “The tragic loss of our four Diavik colleagues and two airline crew members in a plane crash last Chief Executive month is a devastating reminder of why safety is and must always be our top priority. We continue to work closely with the authorities to support th

7. Slide 7: Attractive financials

   Attractive financials1 For personal use only Production (CuEq)2 Underlying ROCE 3% 20% Year-on-year change (2023 versus 2022) 5-year average3 of 28% Underlying earnings Underlying EBITDA (margin) $11.8 bn $23.9 bn (42%) 5-year average3 of $13.9 bn 5-year average3 of $26.6 bn (48%) Free cash flow Ord

8. Slide 8: Delivering a stronger Rio Tinto for the long term

   Delivering a stronger Rio Tinto for the long term For personal use only Continuing to build a robust business for today Relentless focus on safety Building a thriving culture Improving operational Strengthening our – our top priority resilience social licence Continuing to learn Creating a performan

9. Slide 9: Peter Cunningham, Chief Financial Officer

   Peter Cunningham For personal use only Chief Financial Officer Oyu Tolgoi, Mongolia 7

10. Slide 10: Resilient results

    Resilient results $bn, except where stated 2023 2022* vs 2022* For personal use only Consolidated sales revenue 54.0 55.6 (3%) Underlying EBITDA 23.9 26.3 (9%) Underlying earnings 11.8 13.4 (12%) Net earnings 10.1 12.4 (19%) Underlying ROCE 20% 25% (5 pp) Cash flow from operations 15.2 16.1 (6%) Cap

11. Slide 11: Financial strength is key in volatile markets

    Financial strength is key in volatile markets For personal use only Iron ore1 CFR index (-0.5% YoY2) Copper LME3 (-3% YoY2) Aluminium LME3 (-17% YoY2) 250 500 4,000 1500 450 3,500 200 1200 400 3,000 423 2,703 150 160 399 900 2,480 350 385 2,500 2,250 100 120 120 600 108 300 2,000 1,704 50 280 300 25

12. Slide 12: China's steel demand drivers are reshaping

    China’s steel demand drivers are reshaping For personal use only Steel demand shifting from property... ...to manufacturing and infrastructure investment China finished steel demand by sector YoY change % (2023 versus 2022) % of total in 2019 and 2023 Solar cell production (kilowatt) 39% Lithium-ion

13. Slide 13: Weaker prices offset volume gains – cost inflation gradually abating

    Weaker prices offset volume gains – cost inflation gradually abating For personal use only Underlying EBITDA $bn External $(0.7) bn Controllables $(1.7) bn 26.3 25.6 1.5 0.2 0.4 0.3 1.0 0.6 23.9 0.6 0.2 Iron ore +0.4 Energy Iron ore +0.6 Iron ore -0.2 Kennecott • Diesel +0.3 Simandou -0.3 smelter sh

14. Slide 14: Good cash generation, some impact from working capital

    Good cash generation, some impact from working capital For personal use only $bn, except where stated 2023 2022 Comparison Working capital outflow of $0.9bn Underlying EBITDA 23.9 26.3 (9%) in 2023 reflected: Tax paid (4.6) (6.9) • Healthy stocks in the Pilbara • Elevated in-process inventory at Ken

15. Slide 15: Resilient business on an improvement trajectory

    Resilient business on an improvement trajectory Iron Ore Aluminium Copper Minerals For personal use only $bn, Second highest shipment Kitimat returned to Ramp-up at Oyu Tolgoi Lower production rates and except where stated year on record full capacity underground on track challenging market conditio

16. Slide 16: Consistent capital allocation, balancing essential capex with shareholder returns and growth

    Consistent capital allocation, balancing essential capex with shareholder returns and growth For personal use only 01 Essential capex1 ($bn) Integrity, Replacement, Decarbonisation 02 Ordinary dividends ($bn) 60% of underlying earnings paid out 03 Iterative cycle of… in each of past 8 years2 ~7 12.8

17. Slide 17: Building our portfolio for the long term

    Building our portfolio for the long term For personal use only Growth capex1 $bn Simandou Oyu Tolgoi Kennecott underground <$3bn per year Other Simandou, Guinea Simandou remains the key driver of 0.9 growth capex 0.6 Oyu Tolgoi underground spend expected to be complete by end-2025 Other includes yet

18. Slide 18: Simandou capital expenditure summary

    Simandou capital expenditure summary For personal use only Simfer capex Rio Tinto share • Total $0.9 bn incurred in 2023 ($ bn) ($ bn) • RT share spent to date $0.5 bn; Mine and TSVs, owned and operated by Simfer: $0.4 bn to be funded by CIOH • All qualifying costs capitalised from the fourth Develo

19. Slide 19: Attractive dividends remain paramount

    Attractive dividends remain paramount For personal use only Shareholder returns policy of 40-60% of underlying earnings on average through the cycle • $4.2 bn of dividends declared for H2, Payout ratio (%) bringing the full year to $7.1 bn • 60% payout, in line with our policy • Consistent track rec

20. Slide 20: Jakob Stausholm, Chief Executive

    Jakob Stausholm For personal use only Chief Executive Cape Lambert, Australia 18

21. Slide 21: We are delivering stable, profitable growth

    We are delivering stable, profitable growth For personal use only Rio Tinto CuEq1 production • We are opportunity-rich and pursuing +2% YoY profitable growth as we continue to deliver on our four objectives +3% • Safe Production System delivering, YoY with more to come • Second highest shipment year

22. Slide 22: Decarbonisation: from strategy to action

    Decarbonisation: from strategy to action For personal use only Applying renewables Reimagining manufacturing Circular economy Re-powering our Gladstone assets Renewable diesel BlueSmeltingTM at Sorel-Tracy Launching into recycled aluminium • Two renewable power contracts • Full transition to renewab

23. Slide 23: Future proofing our iron ore business

    Future proofing our iron ore business We are working with ~40 partners, across ~50 projects in 10 countries For personal use only Existing pathways Emerging pathways Future pathways Ongoing ~1-10 years to commercial scale >10 years to commercial scale Objectives Utilise our high-grade iron ores Lowe

24. Slide 24: Unlocking the world's largest untapped high-grade iron ore deposit at Simandou

    Unlocking the world’s largest untapped high-grade iron ore deposit at Simandou For personal use only Scale and resilience World class infrastructure High-grade material Joint venture partnerships Impeccable ESG Decarbonising the steel industry Financially attractive investment in a Tier 1 resource ©

25. Slide 25: Delivering a stronger Rio Tinto for the long term

    Investing in our people, Operational focus and Exploration and technical asset and orebody learning mindset driving our capabilities strengthening our health performance portfolio For personal use only Delivering a stronger Rio Tinto for the long term ©2024, Rio Tinto, All Rights Reserved 23

26. Slide 26: For personal use only

    RioTinto Ajuo asn seuossad J04

27. Slide 27: Appendices

    For personal use only Appendices Full year results 2023 Oyu Tolgoi, Mongolia

28. Slide 28: Markets

    For personal use only Markets ©2024 Rio Tinto, All Rights Reserved 26

29. Slide 29: Robust Chinese steel production absorbs record iron ore imports

    Robust Chinese steel production absorbs record iron ore imports For personal use only Iron ore1 (-0.5% YoY) • China’s crude steel production in 2023 was $/dmt above 1Bt for the fourth consecutive year, with 250 pig iron output up year-on-year Iron ore (US$/dmt) 200 • Resilient production was driven

30. Slide 30: Chinese demand provided support despite fall in prices

    Chinese demand provided support despite fall in prices Aluminium1 LME (-17% YoY) Copper2 LME (-3% YoY) TiO2 (chloride slag) (+4% YoY) For personal use only 4,000 900 500 1,100 3,500 750 450 1,000 3,000 600 400 900 2,500 450 350 800 2,000 300 300 1,500 150 700 250 1,000 0 600 200 Jan-20 Jan-21 Jan-22

31. Slide 31: Other financials

    For personal use only Other financials ©2024 Rio Tinto, All Rights Reserved 29

32. Slide 32: Income Statement: exclusions

    Income Statement: exclusions 2023 2022* Per Annual Per Annual For personal use only Report Exclusions Underlying Report Exclusions Underlying Consolidated sales revenue 54,041 54,041 55,554 55,554 Net operating costs (excluding items disclosed separately) (37,052) 1,251 (35,801) (34,770) (377) (35,1

33. Slide 33: Cash conversion impacted by working capital movements

    Cash conversion impacted by working capital movements Utilisation of provisions ($m) $bn, except where stated 2023 2022 Comparison For personal use only 2023 2022 23.9 26.3 (9%) Provisions for close down Underlying EBITDA (777) (609) and restoration Tax paid (4.6) (6.9) Provisions for post-retiremen

34. Slide 34: Cash flow reconciliation

    Cash flow reconciliation Statutory cash Reconciling Underlying 2023 Cash Flow (US$m) flow items cash flow For personal use only Profit after tax for the year/Underlying EBITDA 9,953 23,892 Adjustments for: Utilisation of provisions • Taxation 3,832 Close down and restoration (777) • Finance items 1,

35. Slide 35: Balance sheet remains strong

    Balance sheet remains strong $bn 2023 2022 For personal use only Disciplined approach is unchanged, we intend to maintain it throughout the cycle Net cash generated from operating activities 15.2 16.1 Balance sheet strength is an asset. Offers resilience and creates optionality Capital expenditure 7

36. Slide 36: Debt maturity profile

    Debt maturity profile For personal use only 31 December 2023 debt maturity profile1 • At 31 December the weighted average $m outstanding debt maturity of corporate bonds was ~15 years (~12 years for 2,000 Group debt) • Corporate bond maturities: 1,500 • The 2.875% €0.42bn note matures in December 20

37. Slide 37: Simplified earnings by Business Unit

    Simplified earnings by Business Unit For personal use only Primary Metal Atlantic Pacific Aluminium Copper Pilbara Sales volume 2,337kt 1,035kt 604kt6 288.4Mt9 Average benchmark price $2,250/t $2,250/t 386c/lb7 $110.3/dmt10 Premiums, provisional pricing, by-product sales, product mix, other $587/t2

38. Slide 38: Iron Ore

    Iron Ore For personal use only Financial metrics 2022 2024 Shipments3 2024 ($bn) 2023 comparison guidance (Mt, 100% basis) guidance 2023 2022 2021 2020 2019 Segmental revenue 32.2 4% Pilbara Blend 201.5 203.9 202.9 232.7 228.1 EBITDA 20.0 7% Robe Valley 29.3 25.5 25.2 30.3 27.4 Margin (FOB)3 69% 1pp

39. Slide 39: Iron Ore: Second highest shipment year on record

    Iron Ore Second highest shipment year on record For personal use only Underlying EBITDA 2023 vs 2022 $m US$ strengthened 4% Higher inflation Higher sales with ongoing implementation of against A$ in Australia Safe Production System and Gudai-Darri at nameplate 19,482 19,974 18,612 211 124 252 643 23

40. Slide 40: Aluminium

    Aluminium For personal use only Financial metrics 2022 Production 2024 ($bn) 2023 comparison (Mt, Rio Tinto share) guidance 2023 2022 2021 2020 2019 Segmental revenue 12.3 - 13% Bauxite 53 – 56 54.6 54.6 54.3 56.1 55.1 EBITDA 2.3 - 38% Alumina 7.6 – 7.9 7.5 7.5 7.9 8.0 7.7 Margin (integrated operati

41. Slide 41: Aluminium: Kitimat returned to full capacity

    Aluminium Kitimat returned to full capacity For personal use only Underlying EBITDA 2023 vs 2022 $m Lower realised aluminium prices Higher inflation in Kitimat returned to full capacity (-18% YoY) and lower premiums Australia and Canada following impact of strike 3,672 1,484 130 176 2,308 2,282 166

42. Slide 42: Composition of alumina and aluminium production costs

    Composition of alumina and aluminium production costs Production cash costs For personal use only Alumina refining Input Inventory FY23 Annual Cost H1 2022 H2 2022 H1 2023 H2 2023 100% 100% 100% 100% 100% 100% Costs (Index price) Flow 4 Sensitivity 14% 13% 14% 13% 13% 13% Caustic Soda1 ($/t) 675 595

43. Slide 43: Aluminium Value Chain

    Aluminium Value Chain 2023 Actuals For personal use only Mining Refining1 Aluminium Casting Bauxite Alumina 32% 54.6dmt 8.2mt 79% RTA Aluminium Casthouse 100% Intersegment 3.3mt production 68% 21% 46% 54% 3rd Party Bauxite Alumina VAP Non-VAP Sales 37.3dmt 1.7mt 1As the result of Queensland Alumina

44. Slide 44: Copper

    Copper For personal use only Financial metrics 2022 2024 Production 2024 ($bn) 2023 comparison guidance (kt, Rio Tinto share) guidance 2023 2022 2021 2020 2019 Mined copper Segmental revenue 6.7 - 660 – 720 620 607 602 627 675 (consolidated basis)3 EBITDA 1.9 - 26% Refined copper 230 – 260 175 209 2

45. Slide 45: Copper: Ramp-up at Oyu Tolgoi underground on track

    Copper Ramp-up at Oyu Tolgoi underground on track and completion of Kennecott smelter rebuild For personal use only Underlying EBITDA 2023 vs 2022 $m Fixed cost inefficiencies with lower Kennecott volumes 2,565 29 2,607 46 33 66 72 550 225 1,904 2022 underlying Prices Exchange Energy Inflation Flexe

46. Slide 46: Minerals

    Minerals For personal use only Financial metrics 2022 Production 2024 ($bn) 2023 comparison (Rio Tinto share) guidance 2023 2022 2021 2020 2019 Segmental revenue 5.9 - 12% IOC (Mt) 9.8 – 11.5 9.7 10.3 9.7 10.4 10.5 Borates – EBITDA 1.4 - 42% ~0.5Mt 495 532 488 480 520 B2O3 content (kt) Margin (produ

47. Slide 47: Minerals: Lower production rates and challenging market conditions

    Minerals Lower production rates and challenging market conditions For personal use only Underlying EBITDA 2023 vs 2022 $m Higher exploration and Lower IOC pellet Lower TiO2 sales driven by two furnace failures at RTIT Quebec Operations evaluation expenditure at premiums and market weakness, and lowe

48. Slide 48: Guidance

    For personal use only Guidance ©2024 Rio Tinto, All Rights Reserved 46

49. Slide 49: Balancing near-term returns to shareholders

    Balancing near-term returns to shareholders For personal use only 1 Essential capex Integrity, Replacement, Decarbonisation Further cash returns to Compelling shareholders growth 2 Ordinary dividends Debt management 3 Iterative cycle of ©2024, Rio Tinto, All Rights Reserved 47

50. Slide 50: Product group level guidance

    Product group level guidance For personal use only 2024 2024 Guidance Unit cost guidance Pilbara iron ore shipments1 (100% basis) 323 – 338Mt Pilbara Iron Ore ($/tonne)4 $21.75 – $23.5 Copper Mined Copper (consolidated basis)2 660 – 720kt Copper C1 (US cents/lb) 140 – 160 Refined Copper 230 – 260kt

51. Slide 51: Group level financial guidance

    Group level financial guidance For personal use only 2024 – 2026 (per year) Capex Total Group1 ~$10.0bn Growth capital Up to $3bn Sustaining capital ~$4.0bn Including Pilbara sustaining ~$1.8bn2 Replacement capital ~$2 to $3bn Decarbonisation capital ~$1.5bn cumulative Effective tax rate ~30% Shareh

52. Slide 52: Modelling EBITDA

    Modelling EBITDA For personal use only Underlying EBITDA sensitivity Average published price/ US$m impact on full year 2023 underlying exchange rate for FY 2023 EBITDA of a 10% change in prices/exchange rates Aluminium - US$ per tonne 2,250 1,016 Copper - US cents per pound 386 507 Gold - US$ per tr

53. Slide 53: Simandou

    For personal use only Simandou ©2024 Rio Tinto, All Rights Reserved 51

54. Slide 54: Three dimensions to the Simandou project

    Three dimensions to the Simandou project For personal use only 01 02 03 Compagnie du TransGuinéen Simfer Mine – blocks 3 & 4 WCS Mine – blocks 1 & 2 (CTG) Infrastructure1 Funded Funded Funded 50% by Simfer InfraCo 53% by Rio Tinto 51% Winning Consortium3 (53% Rio Tinto, 47% CIOH Consortium2) 47% by

55. Slide 55: WCS and Simfer have separate scopes to leverage expertise, and reduce risk and costs

    WCS and Simfer have separate scopes to leverage expertise, and reduce risk and costs For personal use only Structure during operations Simfer InfraCo will construct on behalf of CTG: • 70 km Simfer spur line Baowu Winning Rio Tinto Chinalco • 60 Mtpa transhipment vessel (TSV) port Consortium Consort

56. Slide 56: Simandou project life of mine key statistics

    Simandou project life of mine key statistics1 IRR2 in low double digits anticipated for Simfer mine and combined infrastructure through ownership of CTG use only Simfer Mine Simfer / CTG Infrastructure Overview Overview Mine Open pit, 1.5Bt Ore Reserves, Block 3 only Scope Dual track, multi-user rai

57. Slide 57: Tax settings will provide a sustainable sharing of benefits between partners

    Tax settings will provide a sustainable sharing of benefits between partners For personal use only Key Tax Settings Simfer Mine Simandou Infrastructure Simfer Convention WCS Port and Rail Conventions Governing framework Modified by the Bipartite Agreement Modified by the Co Development Agreement Yea

58. Slide 58: Simandou expenditure summary

    Simandou expenditure summary 2023 Actuals For personal use only Simfer 100% basis, Primarily exploration and evaluation $m Expenditure - incurred/accruals basis1 (869) Capital additions on accruals basis (100%). Expenditure charged to the income statement We commenced capitalising qualifying spend (

59. Slide 59: Decarbonisation

    For personal use only Decarbonisation ©2024 Rio Tinto, All Rights Reserved 57

60. Slide 60: Our emissions differ from our peers

    Our emissions differ from our peers ~80% arise from processing metals and minerals 2023 Scope 1 & 2 emissions For personal use only 32.6Mt CO2e 2022: 32.7Mt CO2e (adjusted for acquisitions) Aluminium Repowering Alumina Minerals Renewable Diesel Anodes PacOps Processing Processing Energy Transition O

61. Slide 61: Our project commitments are taking hold

    Our project commitments are taking hold 2023 emissions Commitments to abatement projects2 2023 outcomes For personal use only % by decarbonisation program tCO2e equity basis 32.6Mt 2,000 We have momentum in the portfolio • Converting our targets into actions, with an expected increase in activity in

62. Slide 62: Responsible investment today and a technology focus for the future

    Responsible investment today and a technology focus for the future For personal use only Decarbonisation project pipeline Robust evaluation approach (Mt CO2e, equity basis) 1Mt CO2 abatement • Our path to 2030 is built on defined projects with PacOps Renewable Diesel Minerals Alumina Aluminium Other

63. Slide 63: 2023 decarbonisation progress

    2023 decarbonisation progress For personal use only Commercial transactions Industry breakthroughs Renewable energy • Committed renewable energy and certificates in Australia, South Africa and Mongolia • Yindjibarndi Energy Corporation partnership Drop-in biofuels • Replace fossil diesel consumption

64. Slide 64: Pathway to 2030 target under our decarbonisation programmes

    Pathway to 2030 target under our decarbonisation programmes For personal use only Mt CO2e equity basis1 40 -50% 34.5 32.6 1.7 30 PacOps 2025 target (15%) Electricity 26% Other Electricity 20 15% Diesel 17.3 2030 target (50%) 14% Other Elec 11% Min. Proc. 6% Diesel Final schedule dependent on 24% Alu

65. Slide 65: Roadmap to net zero

    Roadmap to net zero Mt CO2e equity basis PacOps Renewable Diesel Minerals Alumina Aluminium Nature-based Organic We remain committed to For personal use only Repowering Energy1 Transition Processing Processing Anodes2 Solutions3 growth without decarbonisation4 our 2030 targets, with the 40 repowerin

66. Slide 66: Decarbonisation investment pathways continue to evolve

    Decarbonisation investment pathways continue to evolve For personal use only Decarbonisation pipeline Total capex guidance to 2030 revised to $5-6bn1,2 (Mt CO2e, equity basis) 2030 CO2e 2023-2030 abatement % capex % 600 Commercial solutions ~65-70% ~10% 500 • PPAs, VPPAs, RECs • Biofuels 400 BlueSme

67. Slide 67: Investment to de-risk from carbon legislation and reduce opex

    Investment to de-risk from carbon legislation and reduce opex For personal use only Increasing influence of carbon pricing Annual average net operating costs ($m) from decarbonisation programme1 • ~50% of our emissions are now in scope for legislated carbon penalties 3-5% IRR 10-13% IRR pre-tax, rea

68. Slide 68: 500,000+ hectares of land committed to high integrity nature-based solutions

    500,000+ hectares of land committed to high integrity nature-based solutions globally by 2025 For personal use only Developing nature- Addressing nature loss, Developing high integrity projects in Guinea, Madagascar and based solutions in our climate change and South Africa operating regions communi

69. Slide 69: Value chain emissions: 2023 Scope (equity basis)

    Value chain emissions: 2023 Scope 3 (equity basis) For personal use only ©2024, Rio Tinto, All Rights Reserved 67

70. Slide 70: Specific, action-oriented Scope targets

    Specific, action-oriented Scope 3 targets For personal use only Support customers to reduce emissions from BF 20-30% by 2035 Target a 50% reduction in Scope 3 (7 Mt) from IOC by 20351 Commission Biolron™ Continuous Pilot Plant by 20261 Steel Deliver a DRI + electric smelting furnace pilot plant by 2

71. Slide 71: Work is underway across a suite of new low CO2 technologies suitable for Pilbara ores

    Work is underway across a suite of new low CO2 technologies suitable for Pilbara ores For personal use only Notes: BOF: Basic Oxygen Furnace. DR-EAF: Direct Reduction - Electric Arc Furnace. ESF: Electric Smelting Furnace ©2024, Rio Tinto, All Rights Reserved 69

72. Slide 72: Exploration

    For personal use only Exploration ©2024 Rio Tinto, All Rights Reserved 70

73. Slide 73: Building on our history and enabling growth

    Building on our history and enabling growth For personal use only World-class exploration team Strong technology and R&D pedigree ~$250m1 450 annual spend employees ~$400m 5 key focus areas Extensive network annual spend for R&D of partners 18 8 countries commodities >100 >50% Venture capital Innova

74. Slide 74: Our pipeline focus is on the most promising opportunities

    We have more than 100 projects at varying stages of maturity For personal use only Our pipeline focus is on the most promising opportunities Brownfield Iron Ore targets Copper projects Australia USA Pilbara Iron Ore Iron Ore projects Iron Ore projects Australia Lithium project Bauxite projects Austr

75. Slide 75: Our new joint venture with Codelco: Nuevo Cobre

    Our new joint venture with Codelco: Nuevo Cobre For personal use only World class copper terrain; unique strategic partnership High potential for a significant porphyry discovery 57.74% in the fourth largest copper district in the world Rio Tinto (Atacama region, Chile) Property previously explored

76. Slide 76: Nuton

    For personal use only NutonTM ©2024 Rio Tinto, All Rights Reserved 74

77. Slide 77: Nuton: A high-recovery and low-footprint technology

    NutonTM A Rio Tinto venture A high-recovery and low-footprint technology For personal use only Key differentiators Portfolio​ today Leading sustainability credentials 01 6 4 Aim to produce world’s lowest footprint copper Partnerships Countries across our five pillars, and stretch to have a positive

78. Slide 78: The Nuton portfolio today

    The Nuton portfolio today A Rio Tinto venture For personal use only Asset/ company​​ Current investment/agreement​​ Key terms/ Nuton rights​​ Johnson Camp Mine, AZ Option to JV Agreement • Testing programme​​ underway Excelsior Mining Inc. ​(TSX)​​ Agreement with full pathway on demonstration • Opti

79. Slide 79: Common acronyms and definitions

    Common acronyms Definitions Million tonnes per $ United States dollar CO2 Carbon dioxide FMC First Movers Coalition Mtpa RTA Rio Tinto Aluminium annum $A Australian dollar CO2e Carbon dioxide equivalent FOB Free On Board MW Megawatt RTIT Rio Tinto Iron and Titanium Calculated abatement carbon price

80. Slide 80: For personal use only

    RioTinto Ajuo asn seuossad J04

Rio Tinto — FY2023 Earnings Presentation on 6ix