Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 427

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 427
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 assets”. This measure is used to support management's objective of effective and efficient capital allocation as we need to invest in existing assets in order to maintain and improve productive capacity, and in new assets to grow the business.

|                                                                    | 2024US$m | 2023US$m | 2022US$m |
| Purchase of property, plant and equipment and intangible assets    |    9,621 |    7,086 |    6,750 |
| Less: Sales of property, plant and equipment and intangible assets |      -30 |       -9 |        – |
| Capital expenditure                                                |    9,591 |    7,077 |    6,750 |

Rio Tinto share of capital investment Rio Tinto’s share of capital investment represents our economic investment in capital projects. This measure was introduced in 2022 to better represent the Group’s share of funding for capital projects which are jointly funded with other shareholders and which may differ from the consolidated basis included in the Capital expenditure APM. This better reflects our approach to capital allocation. The measure is based upon purchase of property, plant and equipment and intangible assets and adjusted to deduct equity or shareholder loan financing provided to partially owned subsidiaries by non-controlling interests in respect of major capital projects in the period. In circumstances where the funding to be provided by non-controlling interests is not received in the same period as the underlying capital investment, this adjustment is applied in the period in which the underlying capital investment is made, not when the funding is received. Where funding which would otherwise be provided directly by shareholders is replaced with project financing, an adjustment is also made to deduct the share of project financing attributable to the non-controlling interest. This adjustment is not made in cases where Rio Tinto has unilaterally guaranteed this project financing. Lastly, funding contributed by the Group to Equity Accounted Units for its share of investment in their major capital projects is added to the measure. No adjustment is made to the Capital expenditure APM where capital expenditure is funded from the operating cash flows of the subsidiary or EAU.

|                                                                                           | 2024US$m | 2023US$m | 2022US$m |
| Purchase of property, plant and equipment and intangible assets                           |    9,621 |    7,086 |    6,750 |
| Funding provided by the group to EAUs(a)                                                  |      965 |        – |        – |
| Less: Equity or shareholder loan financing received/d