Company: RTNTF
Filing Date: 2025-03-10
Form Type: 424B2
Source: 0001104659-25-022024
Chunk: 23

Company: RIO TINTO LTD
Filing Date: 2025-03-10
Form: 424B2
Chunk 23
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. Following the implementation of any such reforms, the manner of administration of benchmarks, including SOFR, may change, with the result that they may perform differently than in the past, or the benchmark could be eliminated entirely, or there could be other consequences that cannot be predicted. Any of the foregoing may have an adverse effect on the value of the Floating Rate Notes.

Interest on the Floating Rate Notes will be calculated using the Benchmark Replacement if a Benchmark Transition Event occurs.

To the extent SOFR is discontinued or is no longer quoted, floating interest rates will be determined using the alternative methods described under “Description of the Guaranteed Notes — Floating Rate Notes.” In particular, if we (in consultation, to the extent practicable, with the calculation agent) or our designee (in consultation with us) determine that a Benchmark Transition Event and related Benchmark Replacement Date have occurred, we (in consultation, to the extent practicable, with the calculation agent) or our designee (in consultation with us) will use the Benchmark Replacement for the purposes of determining the floating interest rates, as well as to make certain changes to the manner in which floating interest rates are calculated or determined (in consultation with the calculation agent).

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This Benchmark Replacement may result in interest payments that are lower than, or that do not otherwise correlate over time with, the payments that would have been made on the Notes if SOFR was available in its current form. Additionally, if SOFR is no longer calculated or administered and no Benchmark Replacement is calculated (including because the same costs and risks that may lead to the discontinuation or unavailability of SOFR make the Benchmark Replacement impossible or impracticable to determine), the floating interest rate on the Floating Rate Notes may accrue at the same rate as the immediately preceding Interest Period (or, in the case of the initial Interest Period, the initial rate of interest which would have been applicable to such Floating Rate Notes for the first Interest Period had such Floating Rate Notes been outstanding for a period equal in duration to the scheduled first Interest Period but ending on (and excluding) the Issue Date), effectively converting the Floating Rate Notes into fixed rate instruments. Due to the uncertainty concerning the availability of benchmark replacements, the relevant fallback provisions may not operate as intended at the relevant time. Any of the foregoing may have an adverse effect on the value of the Floating Rate Notes.

The rate of interest on the Floating Rate Notes may be determined by reference to a Benchmark Replacement even if SOFR continues to