Rio Tinto Plc · LSE:RIO

Rio Tinto — Lithium and Battery Metals Conference 2018

16 slides from Rio Tinto's conference presentation, March 2018

1. Slide 1: Rio Tinto Ventures and Rio Tinto's Jadar Project

   Rio Tinto Ventures and Rio Tinto’s Jadar Project Andrew Latham, Head of Rio Tinto Ventures Lithium and Battery Metals Conference March 2018 1

2. Slide 2: Cautionary statement

   Cautionary statement This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (“Rio Tinto”). By accessing/attending this presentation you acknowledge that you have read and understood the following statement. Forward-looking statements This document contains certain forward-looking

3. Slide 3: Safety and health come first

   Safety and health come first Safety fatality at Kennecott Operations and Health Continuing history of improvement fatality in Pilbara Exploration in October Focusing on fatality elimination – Rio Tinto ICMM (23 companies) 2.78 1.5 million CRM verifications in 2017 Reducing injuries – Targeted hazard

4. Slide 4: Superior returns from world-class assets

   Superior returns from world-class assets Iron Ore Aluminium Copper & Diamonds Energy & Minerals 68% 35% 39% 36% Margins Pilbara operations FOB Integrated operations EBITDA margin EBITDA margin EBITDA margin EBITDA margin Cash flows from operations Cash flows from operations Cash flows from operation

5. Slide 5: Global macro indicators remain supportive

   Global macro indicators remain supportive PMIs remain elevated Global growth momentum remains healthy 65 US growth supported by record high consumer confidence and healthy 60 manufacturing and investment 55 EU performing better than expectations on stronger manufacturing and Index consumer confidenc

6. Slide 6: The Ventures approach

   The Ventures approach Our Interests What Rio Tinto Offers Capital Products beyond our current portfolio Operating expertise Majority and minority Exploration and development interests Ventures Ventures support Investments Investments New jurisdictions / New deal Marketing and logistics structures ne

7. Slide 7: Metals most impacted by new technology

   Metals most impacted by new technology Tin Lithium Cobalt Silver Nickel Gold Tungsten Vanadium Electrical contact materials Graphite Tin, Silver, Gold Niobium Battery materials Zinc Lithium, Cobalt, Nickel PGM (Pt,Pd) (Tin, Silver, Vanadium, Graphite, Zinc ) Salt AV/EV Robotics Renew-ables Oil & Gas

8. Slide 8: The Jadar Project

   The Jadar Project

9. Slide 9: Jadarite – A unique Lithium-Borosilicate

   Jadarite – A unique Lithium-Borosilicate  Lithium-sodium-borosilicate mineral (LiNaSiB3O7OH) ) Jadarite comprising 47.2% B2O3 and 7.3% Li2O. A A – Fine Jadarite overprinting breccia fabric 9 © Rio Tinto 2017

10. Slide 10: History – A Rio Tinto Discovery

    History – A Rio Tinto Discovery  Rio Tinto Exploration discovers borates in western 2000’s Serbia and jadarite – a new mineral  Order of magnitude study and drilling to gain orebody 2007-2010 knowledge  Mining and Metallurgical studies, Pilot plant at Rio 2010-2014 Tinto’s Boron operation in Cali

11. Slide 11: Jadar Valley – Northwestern Serbia

    Jadar Valley – Northwestern Serbia N  Sabac Belgrade Highway Town Local Road Loznica Draginac Village River Brezjak Railway Gas pipeline License Area 50km 0 11 © Rio Tinto 2017

12. Slide 12: Jadar – Resource Profile and Mineralogy

    Jadar – Resource Profile and Mineralogy 100% owned by Rio Tinto Alongside Jadarite, Ezcurrite (Na4B10O17.7H2O) is most common mineral. Kernite (Na2B4O7.4H2O) and Borax (Na2B4O7.10H2O) also present.  136 Mt mineral resource(1): o Indicated: 52 Mt @ 1.8% Li2O, 19.2% B2O3 o Inferred: 83 Mt @ 1.9% Li2O

13. Slide 13: Operating Cost Implications

    Operating Cost Implications Lithium production with Boric Acid by-product moves Jadar hard-rock project down the cost-curve Brine - low cost Hard rock - low cost Brine - high cost Hard rock - high cost Indicative 2025 lithium carbonate cost curve 13 © Rio Tinto 2017

14. Slide 14: Jadar project overview

    Jadar project overview  Greenfield underground mine  On site plant producing battery grade lithium carbonate and boric acid  Potential production start up early 2020’s 14 © Rio Tinto 2017

15. Slide 15: Attractive Serbian investment climate combined with existing Rio Tinto infrastructure

    Attractive Serbian investment climate combined with existing Rio Tinto infrastructure  On track for EU membership Attractive Borates mines Serbian  Established mining jurisdiction Rio Tinto’s global Processing / refining plant investment  Mining code updated in 2015 Lithium-borate Distribution /

16. Slide 16: Jadar value proposition

    Jadar value proposition Access to market and World class Rio Tinto Unique large scale resource Rio Tinto license to operate infrastructure technical expertise Two high grade lithium and borates Adjacent to multiple transportation Long history of successful PFS program well underway products from a s

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