Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 428

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 428
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ue from non-controlling interests(b) |   -1,063 |     -125 |        – |
| Rio Tinto share of capital investment                                                     |    9,523 |    6,961 |    6,750 |

(a) In 2024 , funding provided by the group to EAUs relates to funding of WCS rail and port entities (WCS) in relation to the Simandou project, consisting of a direct equity investment in WCS of US$431 million and loans provided totalling US$534 million . (b) In 2024 , we received US$1,505 million from Chalco Iron Ore Holdings Ltd (CIOH), of which US$1,063 million relates to CIOH's 47% share of capital expenditure incurred on the Simandou project and associated funding provided by the Group to EAUs during the year, accounted for on an accrual basis. Free cash flow Free cash flow is defined as net cash generated from operating activities minus purchases of property, plant and equipment and intangibles and payments of lease principal, plus proceeds from the sale of property, plant and equipment and intangible assets. This measures the net cash returned by the business after the expenditure of sustaining and development capital. This cash can be used for shareholder returns, reducing debt and other investing/financing activities.

|                                                                       | 2024US$m | 2023US$m | 2022US$m |
| Net cash generated from operating activities                          |   15,599 |   15,160 |   16,134 |
| Less: Purchase of property, plant and equipment and intangible assets |   -9,621 |   -7,086 |   -6,750 |
| Less: Lease principal payments                                        |     -455 |     -426 |     -374 |
| Add: Sales of property, plant and equipment and intangible assets     |       30 |        9 |        – |
| Free cash flow                                                        |    5,553 |    7,657 |    9,010 |

| Annual Report on Form 20-F 2024 | 273 | riotinto.com |

Financial statements | Additional financial information

APMs derived from the balance sheet Net debt Net debt is total borrowings plus lease liabilities less cash and cash equivalents and other liquid investments, adjusted for derivatives related to net debt. Net debt measures how we are managing our balance sheet and capital structure. Refer to note 19 on page 198