Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 17

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 17
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 based on managed operations (excludes the Group’s share of non-managed operations and joint ventures) as of 31 December 2024, rounded to the nearest 1,000. 2. 2023 data has been restated using an updated approach for obtaining customer numbers across product groups. Numbers are for managed entities only. 3. 2023 data has been restated to reflect a change in the definition of global supplier spend to include total contestable spend.

| Annual Report on Form 20-F 2024 | 10 | riotinto.com |

Strategic report

Progressing our 4 objectives Becoming Best Operator What we are focusing on – Eliminating fatalities, preventing catastrophic events and reducing injuries. – Executing our strategy to deliver attractive shareholder returns and build a stronger, more diversified, and growing business. – Safely and sustainably realising the full value of our assets, through our Safe Production System (SPS). In 2024 Safety – Our all-injury frequency rate (AIFR) was 0.37 in 2024 (consistent with 0.37 in 2023). – Tragically, there were 5 fatalities in our business in 2024, and we continue to see serious events where people are exposed to potential fatal incidents. Operational performance Our overall op erating performance imp roved, and we delivered 1% production growth and a 3% increase in sales volumes, both on a copper equivalent basis (based on long-term consensus pricing). – Some assets continued to face challenges, particularly Iron Ore Company of Canada, Kennecott and Rio Tinto Iron & Titanium. At the end of 2024, we had commenced deployment of SPS at 31 (80%) of our sites. These sites account for over 95% of the production uplift opportunity identified: – At our Pilbara iron ore operations, we achieved our SPS target of 5 million tonnes, and Gudai-Darri reached 50Mtpa rates. – 6% year-on-year increase in good anodes produced at Kennecott (excluding shutdowns and 2023 furnace rebuild). – Record annual production at Amrun. Our priorities for the future Safety – Continuing to support contractor safety, further integrating contractors into our safety culture and learning from them. – Continuing to strengthen our safety control framework to align with our evolving risk profile. – Improving the governance of our aviation safety and assurance programs. – Further evolving our safety maturity model. Operational performance –