Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 245

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 245
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 2027. On cessation of employment, any unvested deferred shares will lapse unless the Committee decides the executive is an eligible leaver.

| Annual Report on Form 20-F 2024 | 130 | riotinto.com |

Directors’ report | Remuneration report

2024 short-term incentive plan measures

| STIP Component            | Commentary                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Financial(Weighting: 50%) | For 2024, the financial measures were underlying EBITDA and STIP free cash flow. The first, underlying EBITDA, gives insight to costmanagement, production and performance efficiency. This is further described on page168. A reconciliation of Profit after Tax for the year tounderlying EBITDA is provided on page168.STIP free cash flow demonstrates how we convert underlying earnings to cash and provides further insight into how we are managing costs,efficiency and productivity. STIP free cash flow comprises free cash flow (as reported on page272), adjusted to exclude dividends paid toholders of non-controlling interests in subsidiaries (of $0.5 billion) and development capital expenditure (of $5.3 billion, including developmentcapital expenditure associated with decarbonisation). This adjusted metric excludes the impact of those components of free cash flow that arenot directly related to performance in the year and therefore better represents underlying business performance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Strategic(Weighting: 50%) | Impeccable ESG (20%)aims to promote safety in all its aspects and progress decarbonisation efforts as we work towards achieving ourambition to reduce Scope 1 and 2 emissions by 2030.Safety measures a combination of our safety maturity model (SMM) and all-injury frequency rate (AIFR). The safety outcome is underpinnedby an assessment of conformance with the GISTM for “high” and “very high” classification tailings facilities.Decarbonisation measures progress of carbon abatement projects against incremental stages of development.Excel in Development (10%)aims to incentivise a growth mindset by focusing on exploring new opportunities, prospecting new sites,technology, and innovation. It measures performance in exploration, studies and project execution.Exploration progress focuses on the opportunities coming out of the exploration pipeline and moving into formal studies.Studies progression assesses the number of studies approved to progress to project execution phase.Project execution measures our execution progress in creating growth opportunities and closure projects across the Rio Tinto