Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 28

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 28
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 debt management and further cash returns to shareholders. In 2024, our share of capital investment rose to $9.5 billion , driven by increased investment in replacement projects, including Western Range in the Pilbara and AP60 in Quebec, and the accelerating development of the Simandou iron ore project in Guinea. We believe that Simandou's high-grade, high-quality product will position us well for the decarbonisation of the steel industry. It is critical to ensure we have the right, diversified portfolio to keep creating value for decades to come, so we can benefit from increased demand from both traditional sources and from the energy transition. We spent $0.9 billion on exploration and evaluation, with greenfield projects mainly focused on copper and lithium, while evaluation prioritised projects with near-term investment decisions. We remain very committed to our capital framework including our dividend policy and practice. Our financial strength means that we can reinvest for growth, accelerate our decarbonisation and continue to pay attractive dividends through the cycle. For 2024, we are returning 60% of underlying earnings to shareholders, which equates to a full-year ordinary dividend of 402 US cents per share, or $6.5 billion. Robust financial health as investments support future cash flows Our existing business is generating strong cash flows, which will be enhanced by the delivery of our growth projects. Our strategy is about growing in the materials the world needs. This will ensure Rio Tinto remains strong in the short, medium and long term with the ability to invest for the long term while also paying attractive returns. Net cash generated from operating activities $ 15.6 billion (2023: $ 15.2 billion) Profit after tax attributable to owners of Rio Tinto (net earnings) $ 11.6 billion (2023: $ 10.1 billion) Underlying earnings $ 10.9 billion (2023: $ 11.8 billion)

Peter Cunningham Chief Financial Officer 19 February 2025

| Follow Peter on LinkedInlinkedin.com/in/peterlcunningham |

| Annual Report on Form 20-F 2024 | 16 | riotinto.com |

Strategic report

Financial review The Financial review and Business review for the year ended 31 December 2022 can be found on pages 26 to 31 and pages 36 to 72 respectively, of our Form 20-F/A filed with the United States Securities and Exchange Commission on 30 March 2023. Key financial highlights

| Year ended 31