Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 211

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 211
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 Corporate Affairs. Other senior executives and subject- matter experts are invited as needed. The external auditors were present at all of the Committee meetings during the year. The auditors review all materials on accounting or tax matters in advance of each meeting, and their comments are included in the papers circulated to Committee members. The audit partners also meet with the Committee Chair ahead of each meeting to discuss key issues and raise any concerns. The Committee meets regularly in private sessions. We also hold regular private discussions with the external auditors. Management does not attend these sessions. The Committee Chair also has regular contact and discussions with these stakeholders outside the formal meetings. Use of Committee meeting time in 2024

| l | Financial reporting:40%                 |
| l | Internal control andrisk management:25% |
| l | External audit: 15%                     |
| l | Internal audit: 15%                     |
| l | Governance: 5%                          |

Other focus areas in 2024 In addition to the scheduled workload, the Committee also: – Received an update on internal projects to simplify how we work. This included the transition to the HR IT platform Workday and the Future Finance project, which is standardising, simplifying and automating our financial processes and controls. – Received an update on the development of the framework that will be used to determine Material Controls, the testing approach and the 2025 milestones. – After a robust process, in early 2025, recommended to the Board that the draft 2024 Annual Report should be taken as whole, fair, balanced and understandable. – Reviewed the quality and effectiveness of the Group’s internal control and risk management systems. This review included the effectiveness of the Group’s internal controls over financial reporting, and the Group’s disclosure controls and procedures in accordance with sections 404 and 302 of the US Sarbanes-Oxley Act 2002. The Committee also considered reports from GIA and KPMG on their work in reviewing and auditing the control environment. – The Committee considered cyber risk at the December meeting. This included the external threat landscape and the defences, processes and response capabilities in place to manage risk. Significant issues relating to financial statements There were 4 significant issues considered by the Committee in relation to the financial statements.

| Matters considered                                                                       | Conclusion                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Review of carrying valueof cash-generating unitsand impairment charges/reversals         | The Committee assessed management’s determination of cash-generating units, review of impairment triggers, and consideration of