Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 249

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 249
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, South Africa and Madagascar) and civil society. Much progress made on enhancing transparency, building trustand demonstrating an understanding of society’s needs.–Executed significant agreements in New Zealand and Western Australia securing our longer-term future in these markets.–Significant progress in regaining trust with a wide range of traditional owners,.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |

Peter Cunningham Individual multiplier outcome: Not applied

| Strategic objectives                                                                                                       | Performance Assessment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| Best OperatorStrong financial performance andprioritisation of Best Operator toenhance competitiveness(Outcome: At target) | –Upgraded performance management and supported a disciplined performance around costs and headcount.–Led work to drive improvement around support costs and planning.–Drove work around the renewal of core systems (Finance, HR, HSE) and studies around the renewal of the SAP Real TimeBusiness Suite of tools, plus initial investments in digital/AI.–Delivered an effective 2025 planning process centred around the need to drive enhanced competitiveness.                                                                                                                                                    |
| Impeccable ESGMaintain relentless focus onsafety; and advance ourdecarbonisation strategy(Outcome: At target)              | –Accelerated implementation of enhanced risk management through the Three Lines of Defence program.–Continued to support improvements to decarbonisation investment through the capital allocation framework and ongoingperformance management.                                                                                                                                                                                                                                                                                                                                                                       |
| Excel in DevelopmentGrow and diversify our portfolio(Outcome: Above target)                                                | –Led the successful redevelopment of the 2024 strategy process with delivery through agile teams brought together to solve clearbusiness problems.–Implemented substantial changes to the Group's evaluation framework to enable a deeper focus on the most important strategicdecisions at the Investment Committee.–Continued to enhance the EiD forum to ensure momentum around the investment pipeline.–Supported industry analysis and investment decision-making around major investments (Rincon) and mergers and acquisitions (Arcadium).–Maintained consistent and disciplined capital allocation framework. |
| Social LicenceImprove our social licence tooperate by strengtheningengagement with keystakeholders(Outcome: Above target)  | –Further developed a comprehensive capital allocation process to promote investment decisions and further build partnerships andcapabilities.–Supported investment for creating growth options and social licence through targeted exploration and evaluation, communities andsocial performance (CSP) and social investment, decarbonisation, and research and development.                                                                                                                                                                                                                                          |

| Annual Report on Form 20-F 2024 | 133 | riotinto.com |

Directors’ report | Remuneration report