Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 232

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 232
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 balance is delivered in shares that are deferred for 3 years as a Bonus Deferral Award (BDA). – Dividends (or equivalents) may accrue in respect of any BDA that vest. – The Committee retains the right to exercise discretion to ensure that the level of award payable is appropriate. – Malus, clawback and suspension provisions apply to the STIP and BDA.

LTIP – 80% of the award is subject to performance measured against Total Shareholder Return (TSR) relative to the constituents of the S&P Global Mining Index and the MSCI World Index, and 20% is assessed against a decarbonisation scorecard (for Performance Share Award (PSA) grants made from 2024). – The Committee will set performance conditions aligned with the Group’s long-term strategic objectives for each PSA grant. Relative TSR has been chosen as the predominant measure of long-term performance. The Committee retains the discretion to adjust the performance measures and weightings as appropriate. – Awards have a maximum face value of 500% of base salary (of which one-fifth of 2024 and 2025 awards is linked to a tangible decarbonisation scorecard). Threshold vesting is 22.5% of face value. Target is 50% of face value. – Dividends (or equivalents) may accrue in respect of any PSA that vest. – The Committee retains the right to exercise discretion and seeks to ensure that outcomes are fair and reflective of the overall performance of the company during the performance period. – Performance period of 3 years, followed by a holding period of 2 years (for PSA grants made from 2024). – Malus, clawback and suspension provisions apply to LTIP awards (noting clawback provisions comply with SEC requirements).

Shareholding requirements – Over a 5-year period, executives should reach a share ownership in Rio Tinto shares (expressed as a fixed number of shares and subject to review every 2 years). The shareholding requirement for 2024 and 2025 is: • Chief Executive: 120,000 Rio Tinto plc shares • Chief Financial Officer: 60,000 Rio Tinto plc shares • Other executives (requirement varies by individual): 46,000-54,000 Rio Tinto plc shares or 40,000-46,000 Rio Tinto Limited shares – Longer periods may be accepted for new appointments. – Executive Directors are required to retain a holding for 2 years after leaving the Group, in