Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 101

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 101
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 53 | riotinto.com |

Strategic report | Our approach to ESG | Climate Action Plan

Renewable electricity

| 11.5Mt CO2eemissions from power generation(2023: 14.2Mt CO2e) |     | 28%percentage of Group emissions fromelectricity at Boyne and Tomago smeltersand Gladstone Power Station |     | 78%percentage of electricity fromrenewable sources(2023: 71%) |     | $79mdecarbonisation spend onrenewable electricity projectsin 2024 |

Repowering Pacific Aluminium Operations Our Boyne and Tomago Smelters operate in a third-party-operated coal-based power grid which is undergoing a complex transition to renewable generation sources. Securing long-term renewable power solutions for the smelters supports the energy transition required for the Gladstone region to maintain jobs and increase opportunities for industrial growth. Emissions reduction across the aluminium value chain in Australia is complex. It relies heavily on the availability of large-scale, competitive, firmed renewable power, alongside significant investment, collaboration and partnership with governments, technology developers and industry peers to support innovation breakthrough. We cannot do this alone. Contracts for the current supply of electricity to our Boyne smelter expire in 2029, and for Tomago by end of 2028, and the smelters must develop low-cost renewable energy solutions to maintain their long-term viability. Decarbonising these assets requires solutions supported by state and federal governments. Our Boyne smelter requires up to 975MW of power, equivalent to 3-4GW of high-quality wind and solar capacity paired with appropriate and competitive firming assets and contracts. In 2024, we announced PPAs for a combined 2.2GW of renewable energy to repower BSL, catalysing the development of new large- scale renewable energy in Queensland. These comprise 1.1GW of solar electricity from European Energy’s Upper Calliope solar farm to be built near Gladstone and 1.1GW from Windlab’s Bungaban wind project. Once the projects are developed, they could generate energy equivalent to 10% of Queensland’s current power demand. In August, we made arrangements with the Queensland Government on a support package for Boyne Smelter to assist with the transition to a competitive and repowered future. These arrangements would come into effect in 2029. They are supported by the Australian Government’s aluminium production credit as announced in early 2025,