Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 286

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 286
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 the rate prevailing on the transaction date. Balance sheet items are

translated into USD at period-end exchange rates.

Exchange differences arising on the translation of the net assets of entities with functional currencies other than USD are recognised directly in

the currency translation reserve. These translation differences are shown in the statement of comprehensive income, with the exception of the

translation adjustment relating to Rio Tinto Limited’s share capital, which is shown in the statement of changes in equity.

Where an intragroup balance is, in substance, part of the Group’s net investment in an entity, exchange gains and losses on that balance are

taken to the currency translation reserve.

Except as noted above, or where exchange differences are deferred as part of a cash flow hedge, all other differences are charged or credited

to the income statement in the year in which they arise .

The principal exchange rates used in the preparation of the financial statements were:

|                                                             | Full-year average |       |       | Year-end |       |       |
| One unit of local currency buys the following number of USD |              2024 |  2023 |  2022 |     2024 |  2023 |  2022 |
| Pound sterling                                              |              1.28 |  1.24 |  1.24 |     1.25 |  1.28 |  1.21 |
| Australian dollar                                           |              0.66 |  0.66 |  0.69 |     0.62 |  0.69 |  0.68 |
| Canadian dollar                                             |              0.73 |  0.74 |  0.77 |     0.70 |  0.76 |  0.74 |
| Euro                                                        |              1.08 |  1.08 |  1.05 |     1.04 |  1.11 |  1.07 |
| South African rand                                          |             0.055 | 0.054 | 0.061 |    0.053 | 0.054 | 0.059 |

| Annual Report on Form 20-F 2024 | 157 | riotinto.com |

Financial statements g. Ore Reserves and Mineral Resources A Mineral Resource is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade (or quality), and quantity that there are reasonable prospects for eventual