Rio Tinto Plc · LSE:RIO
Rio Tinto — Investor Day (January 2026)
57 slides from Rio Tinto's investor day presentation, Jan 5, 2026
Slide 1: Lithium Deep Dive Argentina
1 Lithium Deep Dive Argentina 8 December 2025 EXHIBIT 99.13
Slide 2: Cautionary statements
2 Cautionary statements This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (together with their subsidiaries, “Rio Tinto”). By accessing/attending this presentation you acknowledge that you have read and understood the following statements. Forward - looking statements This p
Slide 3: Supporting statements: Mineral Resources
3 Supporting statements Mineral Resources - Olaroz , Cauchari, Rincon, Fenix and Sal de Vida The Olaroz , Cauchari and Rincon Mineral Resources, and the Fenix and Sal de Vida Mineral Resources referenced on slides 26, 29, 31, 36, 37 and 38 are based on the Mineral Resources reported in accordance wi
Slide 4: Introduction to our Lithium team and business
4 Introduction to our Lithium team and business Barbara Fochtman Managing Director, Rio Tinto Lithium Rincon, Argentina
Slide 5: Agenda
5 Agenda Topic Presenter Safety Share Barbara Fochtman Managing Director, Rio Tinto Lithium Introduction Attractive markets Sarah Maryssael Head of Strategy, Rio Tinto Lithium Our business model Barbara Fochtman Managing Director, Rio Tinto Lithium Operational Excellence Disciplined Growth Djaber Be
Slide 6: Safety share
6 Safety share
Slide 7: Shaping a high-quality Lithium business to meet strong demand
7 Shaping a high - quality Lithium business to meet strong demand • +13% demand CAGR to 2035 • Right team • World - class assets • Proven DLE technologies • Solid track record of delivering growth projects now backed by Rio Tinto expertise • Deep pipeline of options at competitive capital intensity
Slide 8: Harnessing the combined strengths of Rio Tinto and Arcadium
8 Harnessing the combined strengths of Rio Tinto and Arcadium Rio Tinto Jérôme Pécresse CEO RT Aluminium & Lithium Ulric Adom CFO RT Aluminium & Lithium Barbara Fochtman MD Lithium Operations Rio Tinto Aluminium Complementary capabilities • Balance sheet strength to accelerate disciplined growth • P
Slide 9: Global lithium asset footprint with unique reach
9 Sal de Vida Lithium carbonate Altoandinos (51%) 1 Lithium carbonate Global lithium asset footprint with unique reach Note: Ownership is 100% basis unless otherwise stated. 1. Remains subject to receipt of all applicable regulatory approvals and satisfaction of other customary closing conditions .
Slide 10: Well positioned in all lithium battery chemistries
10 Well positioned in all lithium battery chemistries Feedstock Products Battery type Lithium chloride Lithium metal Nickel - Cobalt - Manganese (NCM) with >60% Ni content • Long - range EVs • Demand from western customers NCM with ≤60% Ni content • Medium and long - range EVs, PHEVs, residential BE
Slide 11: Attractive markets
11 Attractive markets Sarah Maryssael Head of Strategy, Rio Tinto Lithium
Slide 12: Energy transition creates a durable and expanding lithium market
12 Energy transition creates a durable and expanding lithium market 1. Source: Rio Tinto Economics Global electricity demand will outpace GDP growth (3.4% vs 2.2%) 1 The age of electrification is accelerating due to environmental, geopolitical and economic factors • Climate and decarbonisation goals
Slide 13: Lithium's superior performance in mobility and storage applications
13 Lithium’s superior performance in mobility and storage applications Li - ion batteries; mature technology attracts significant, long - term investment from auto manufacturers • Lightest metal on the periodic table • Weigh less, ideal for portable electronics and mobility • Li ions move easily bac
Slide 14: +13% compound annual Li demand growth driven by EV and BESS
14 2020 2025F 2030F 2035F LFP Ni-based SSB Others 2020 2025F 2030F 2035F EV Buses & trucks Other forms of transport BESS Portables +13% compound annual Li demand growth driven by EV and BESS 1. Source: Benchmark Minerals Insight 3Q 2025, Rio Tinto Economics Battery demand by end-use segment (TWh)1 B
Slide 15: Accelerating BESS demand
15 Accelerating BESS demand 1. Source: Rio Tinto Economics. 2. Energy demand from AI, IEA. 3. BNEF Bloomberg New Energy Finance: Lithium - ion battery price s urvey, Falling battery prices makes BESS more affordable and scalable 3 Renewables growth to rely on BESS to manage grid stability 1,436 115
Slide 16: Two distinct markets for carbonate and hydroxide
16 2025F 2030F Two distinct markets for carbonate and hydroxide ©2025, Rio Tinto, All Rights Reserved | Lithium Deep Dive 20251. Source: Benchmark Minerals Insight 3Q 2025, Rio Tinto Economics. 2. Benchmark Minerals Insight 3Q 2025, Rio Tinto Economics, RT Lithi um. Carbonate represents the mass mar
Slide 17: Lithium demand will require significant greenfield investments
17 Lithium demand will require significant greenfield investments 1. Assumed 0.2Mt scrap in 2035. 2. Highly probable supply are projects that have completed public market requirements, govern men t approvals, fully funded and expected to place their product in the market in the next 24 months. 3. Re
Slide 18: Highly attractive long-term fundamentals
18 Highly attractive long - term fundamentals • Compelling lithium demand outlook: +13% CAGR to 2035 underpinned by EV and BESS applications • Lithium - ion battery technology is mature, highly scalable: lightweight, energy - dense and fast recharge • Global portfolio well positioned to supply into
Slide 19: Our business model
19 Our business model Barbara Fochtman Managing Director, Rio Tinto Lithium Rincon, Argentina
Slide 20: Diverse product mix into global end markets
20 Diverse product mix into global end markets Battery grade lithium hydroxide Battery grade lithium carbonate Non - battery lithium hydroxide Technical grade lithium carbonate High purity lithium metal Butyllithium & other specialties G lo b al e n d m ar ke ts • Mobility/ EVs • Grid - scale energy
Slide 21: Long-term supplier of customers along the entire value chain
21 Long - term supplier of customers along the entire value chain Advanced active materials Cell manufacturing Automotive manufacturing Our premium hydroxide product commands contractual floor prices for more than 40% 2 of volumes 1. Joint Venture between Toyota Motors and Panasonic 2. Based on 2026
Slide 22: Integrated value chain – product flexibility and optionality
22 Fénix (Hombre Muerto) Olaroz Cauchari Sal de Vida Galaxy Mt. Cattlin Brine → lithium carbonate or lithium hydroxide Spodumene → lithium hydroxide Maricunga / Altoandinos 1 Integrated value chain – product flexibility and optionality 1. Remains subject to receipt of all applicable regulatory appro
Slide 23: Successfully delivering in-flight growth; options subject to markets & returns
23 Successfully delivering in - flight growth; options subject to markets & returns ©2025, Rio Tinto, All Rights Reserved | Lithium Deep Dive 2025 1. Capacity on 100% basis. Production will not correlate directly with installed capacity due to timing of ramp - up. We are committed to one mine in Can
Slide 24: Our long history and growing presence in Argentina
24 Our long history and growing presence in Argentina 1997 Fenix commences operations - Argentina’s first modern DLE brine operation 1968 Rio Tinto acquires U.S Borax & Borax Argentina 2014 Olaroz Stage 1 achieves first production 2021 Sal de Vida battery - grade carbonate pilot 2022 Rio Tinto acqui
Slide 25: Uniquely positioned through strong and collaborative engagement
25 Uniquely positioned through strong and collaborative engagement Federal • Established national mining code • Set financial frameworks (RIGI) Provincial ownership • Control and grant mining rights • Align with national law and have primary environmental authority Working effectively with local sta
Slide 26: Argentina is the cornerstone of our lithium strategy
26 Argentina is the cornerstone of our lithium strategy 1 Brines Mineral Resources are reported inclusive of Ore Reserves. Mineral Resources are shown on 100% basis. See supporting references for the Mineral Resources categorisation and reporting on slide 3. Asset footprint in Northwest Argentina Op
Slide 27: Operational excellence at our world-class assets
27 Operational excellence at our world - class assets Barbara Fochtman Managing Director, Rio Tinto Lithium
Slide 28: Resilient first quartile cost position
28 Resilient first quartile cost position 1. C3 costs include depreciation, amortization, sustaining capex, royalties and interest but exclude capital charge. Sources: BMI, CRU, Rho Motion, Rio Tinto Market Analysis and 2025 cost estimates 2. Current operational footprint (2025 plan) 4 0 1.41.21.00.
Slide 29: Fénix
29 Fénix 1. Includes 4kt LCE of assumed lithium chloride production at Güemes. 2. Brines Mineral Resources are reported inclusive of Ore Reserves. Mineral Resources are shown on 100% basis. See supporting re ferences for the Mineral Resources categorisation and reporting on slide 3. C1 costs defined
Slide 30: Fénix DLE: improves speed, quality and yield
30 Wells1 • Brine from 6 production wells of 20 - 30m depth Selective adsorption 2 Concentration3 Purification & carbonation4 Drying & bagging5 • Rio Tinto proprietary resin • Raw brine processed, impurities removed into a purified LiCl brine • Purified LiCl brine reacted with soda ash to produce li
Slide 31: Olaroz
31 Olaroz 1. C1 costs defined as operating cash costs excluding royalties, taxes, corporate overheads and capital charges. 2. Brines Mineral Resources are reported inclusive of Ore Reserves. Mineral Resources are shown on 100% basis. See supporting references for the Mineral Resources categorisation
Slide 32: Our network provides geographical optionality for our customers
32 Our network provides geographical optionality for our customers 1. Developed in joint venture with Toyota Tsusho (25% economic interest) Bessemer City, U.S. • 100% ownership • 15ktpa capacity • Largest lithium hydroxide producer in North America with 75 years of operations • Processing capabiliti
Slide 33: End-to-end leader in technology development
33 End - to- end leader in technology development Combining Arcadium and Rio Tinto’s expertise and strategic partnerships to accelerate breakthroughs • Developing sustainable, low - cost production pathway using carbonate feedstock • Advancing printable lithium – a key enabler for commercial product
Slide 34: Disciplined growth in execution
34 Disciplined growth in execution Djaber Belabdi Managing Director, Rio Tinto Projects Sal de Vida , Argentina
Slide 35: Committed nameplate lithium capacity growth in Argentina and Canada
35 1. Capacity on 100% basis. Production will not correlate directly with installed capacity due to timing of ramp - up. 2 . Out of a total ~$5.0bn (Rio Tinto share) for these committed projects. 3. Capital intensity of $65/kg comprised of; Arcadium acquisition including acquired net debt; Rincon ac
Slide 36: Fénix 1B
36 Rio Tinto ownership 100% Production capacity 10ktpa lithium carbonate Operation Proprietary DLE technology Progress Mechanically complete, commissioning 60% Planned first production H2 2026 Total capital $633m ($65m 1 remaining from 1 Jan 2026) Projected C1 cost 2 ~$5/kg LCE Mineral Resource Esti
Slide 37: Sal de Vida
37 Sal de Vida Superior brine chemistry supports battery grade production 1. C1 costs defined as operating cash costs excluding royalties, taxes, corporate overheads and capital charges. 2. Brines Mineral Resources are reported inclusive of Ore Reserves. Mineral Resources are shown on 100% basis. Se
Slide 38: Rincon
38 Rincon 1. Project consists of the 3kt starter plant and 57kt expansion program. The mine is expected to have a 40 year life. The production target of approximately 53 kt of battery grade lithium carbonate per year for a period of 40 years was previou sly reported in a release to the ASX dated 4 D
Slide 39: Bécancour hydroxide plant
39 Bécancour hydroxide plant Proven hydroxide conversion experience and regional partnerships Site enabling works Membrane package 1. C1 costs includes spodumene and hydroxide conversion, defined as operating cash costs excluding royalties, taxes, corporat e o verheads and capital charges. Rio Tinto
Slide 40: Fully integrated Canadian lithium hub
40 Fully integrated Canadian lithium hub 1. Hard rock Mineral Resources are reported exclusive of Ore Reserves. Mineral Resources and Ore Reserves are shown on 100% basis. See sup por ting references for the Mineral Resources and Ore Reserves categorisation and reporting on slide 3. Whabouchi Mine G
Slide 41: Capital efficiency: Pipeline of growth options
Djaber Belabdi Managing Director, Rio Tinto Projects Capital efficiency Pipeline of growth options
Slide 42: Pipeline of growth options
42 1. Capacity on 100% basis. Production will not correlate directly with installed capacity due to timing of ramp - up. We are committed to one mine in Canada, range on current and committed denotes variation between Galaxy and Whabouchi . 2. C1 costs defined as operating cash costs excluding royal
Slide 43: Disciplined project approach
43 Disciplined project approach 1. Remains subject to receipt of all applicable regulatory approvals and satisfaction of other customary closing conditions. Canada hub Galaxy Whabouchi (50%) Bécancour (50%) Bessemer City Chile hub 1 Maricunga (49.99%) Altoandinos (51%) OCR hub Olaroz (66.5%) Cauchar
Slide 44: Project "30 in 30"
44 Project “30 in 30” Rincon Olaroz Catamarca province Salta province Sal de Vida Fenix Jujuy province Salta 0 100 200 km Rio Tinto Lithium 345 KV powerline Olacapato 33 KV 33 KV Power Lines (Current and Planned) Railway Rincon Olaroz Catamarca province Salta province Sal de Vida Fenix Jujuy provinc
Slide 45: Creating value through market cycles
45 Rincon, Argentina Creating value through market cycles Ulric Adom CFO, Rio Tinto Aluminium & Lithium
Slide 46: Committed projects and long-term contracts deliver resilient revenue
46 Committed projects and long - term contracts deliver resilient revenue 1. Nameplate capacity shown from date of first production and excludes projects in Chile. 2. Revenue is based on forecast con sen sus prices (average across multiple brokers and market analysts) and forecast production targets
Slide 47: Operational excellence cements our position at bottom of cost curve
47 Evaporation pond systems • Olaroz : falling costs reflect scaling volumes as well as lower reagent costs • Sal de Vida : start up in 2026 • Opex reductions achievable by reducing reliance on diesel power Operational excellence cements our position at bottom of cost curve 1. C1 costs defined as op
Slide 48: Technology to drive further efficiencies in trade working capital
48 Technology to drive further efficiencies in trade working capital 1. Brine concentration in ponds dependent on seasonality and rain. Sites Brine concentration 1 Hydroxide direct sales Direct sales Fenix 8- 12 months 2- 3 months Processing + shipment 2 months Processing + shipment 2 months Hydroxi
Slide 49: EBITDA margins expected to reach 37% by 2028
49 EBITDA margins expected to reach 37% by 2028 1. Revenue and EBITDA margin is based on forecast LCE consensus prices (average across multiple brokers and market analysts) and forecast production targets. Excludes projects in Chile. See slide 3 for breakdown of associated production with reserve an
Slide 50: Strict hurdle rates for any future investment
50 Strict hurdle rates for any future investment Development capital $ bn (RT share basis, real 2025 prices) 0.0 1.0 0.2 0.4 0.6 0.8 1.2 1.4 2025 F 2026 F 2027 F 2028 F 2029 F 2030 F UncommittedCommitted • Committed capex reduces to $1.0- $1.1 bn p.a. from 2026 as projects enter production • Uncommi
Slide 51: RIGI regime provides stability to underpin long term investment
51 RIGI regime provides stability to underpin long term investment Applications • Rincon confirmed • Additional applications submitted Context • Flagship regime to attract large - scale investments • 30 - year guarantee of regulatory stability in tax, customs, and foreign exchange rules Rincon benef
Slide 52: Creating value
52 4 Creating value1 Operational excellence 2 Disciplined growth 3 Capital efficiency World - class integrated Lithium business and growth pipeline • +13% demand CAGR to 2035 • Proven DLE technology • Deep pipeline of growth options • Focus on capital intensity • Commit additional capital when suppo
Slide 53: Q&A
53 Q&A Rincon, Argentina
Slide 54: Appendix
54 Appendix
Slide 55: Rincon flowsheet
Rincon flowsheet Raw Brine DLE Recycled Water Concentration Soda Ash NaOH Impurity Removal Mg and Ca Soda Ash Li,CO, Precipitation HCI NaOH Li,CO, Purification Li,CO, Battery Grade RioTinto
Slide 56: Acronym Definition
56 Acronym Definition LCE Lithium Carbonate Equivalent Li Lithium Li-ion Lithium-ion Li2O Lithium Oxide LiCl Lithium Chloride LFP Lithium Iron Phosphate LIOVIX® Proprietary technology for scalable production of lithium metal anodes and next-gen batteries LT Long Term MAusIMM Member of the Australasi
Slide 57: Rio Tinto
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