Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 225

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 225
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 determined that the STIP fatality deduction should be applied and this resulted in a reduction equivalent to 10% of the final STIP scorecard outcome for all STIP eligible employees. The Committee assessed Group performance against the STIP scorecard and determined an overall scorecard outcome of 49.5% of maximum, post fatality deduction. STIP scorecard performance 2024 was a strong year for the Group in terms of financial performance and progress on implementation of the Group’s strategy. For the financial component of the STIP scorecard, we reported underlying EBITDA of $23.3 billion and STIP free cash flow of $11.6 billion. Despite challenges at a number of our operations, these financial outcomes were in line with plan, underpinned by improved operational stability across most of our operations. Overall, our reported 2024 result for the financial component of the STIP scorecard was 46% of maximum. The strategic component of the STIP scorecard comprises 4 separate measures - Impeccable ESG, People & Culture, Excel in Development and Social Licence. The outcome against our Impeccable ESG measure, which includes safety, was above target for the year. Progress on decarbonisation and the approval of specific abatement projects has continued over the year, as we continue to shape our roadmap to our 2030 ambition and beyond. Our People & Culture measures reflect scores from the second of our bi-annual employee engagement surveys, as well as gender diversity aspirations. While both dimensions showed improvement during 2024, the outcomes fell short of the targets set by the Committee. Overall performance against the Excel in Development measure was above target for the year, reflecting exciting progress in exploration and studies, and continued strong delivery across a number of projects despite some challenging weather events during the year. The Social Licence measure assesses ch anges in how we are perceived by the general public using RepTrak, a third-party survey provider, plus a qualitative review. In 2024 our global reputation score showed improvement, resulting in an above target outcome. Under the STIP, an individual multiplier can be used for selected participants each year to reflect exceptional performance. The Committee considered the individual performance of each Executive Director during 2024 and did not apply an individual multiplier to the STIP outcomes. Further details on the individual performance and STIP outcomes for the Executive Directors can be found on page 129 - 133 . Long-term incentive plan The performance period for the 2020 Performance Share Award (