Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 184

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 184
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 Madagascar Minerals (QMM). Tailings and water storage facilities at our Aluminium, Iron Ore and Closure assets. Process safety at Copper and Aluminium smelters and refineries. Functional safety at Oyu Tolgoi and across our Iron Ore assets. Mass passenger transport at Oyu Tolgoi, Simandou and Rincon. Risk oversight: Major Hazards Steering Committee, Safety and Operations Committee, Risk Management Committee, Sustainability Committee Risk to best operator strategic objective Preparing our iron ore business to meet demand for low- carbon steel Decarbonisation of iron and steelmaking may affect the future relative values of our iron ore products. We have the opportunity to unlock business value through optimising our iron ore product strategy, partnering with technology providers and universities, and innovating with our customers to position ourselves favourably for the future demand for low-carbon steel.

| l | Best Operator | Change vs 2023: Stable |

Risks (threats) Uncertainty remains around the pace of transition across the steel value chain, and the implications for the quality of iron ore products required to support future low-carbon technologies. While the market is expected to continue to require Pilbara iron ores, decarbonisation of the steel value chain will require the development and proliferation of economic low-carbon technologies suited to low-medium grade ores. Key exposures Pilbara low-medium grade ores. Risk oversight: Steel Decarbonisation Steering Committee, Risk Management Committee, Board

| Annual Report on Form 20-F 2024 | 93 | riotinto.com |

Strategic report | Our approach to risk management

Transforming our culture, enabling us to live our values Living our values goes to the heart of our Group’s performance, prospects and reputation. Sharing and demonstrating our values unlocks opportunities in all that we do, every day. We are focused on building a culture where all our people are trusted and empowered to be their best selves and help drive change. This begins with a workplace where everyone feels safe, respected and empowered every day.

| l | Best Operator | Change vs 2023: Stable |

Risks (threats) Not living our values has the potential for decisions to prioritise production over safety. As societal expectations are changing, and higher standards are being placed on organisations, the role we play in society requires us to ensure we are consistently displaying and living our values. The 2022 final reports of the Western Australia Parliamentary Inquiry into the mining industry and the Everyday Respect Report into the workplace culture at Rio Tinto highlighted the scale of change required internally and across