Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 6

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 6
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2023:1,111kt) |

1. All financial values in this Form 20-F are presented in US dollars unless otherwise stated. 2. Underlying EBITDA is a non-IFRS measure. A definition of underlying EBITDA and a reconciliation to its closest IFRS measure is presented in note 1 (page 168 ). 3. Comparative information has been adjusted to reflect the movement of Rio Tinto Guinea from the Copper product group to “Other operations”. Refer to note 1 (page 167 ) for details.

| For more informationon our product groups’performance, see pages24-31. |

| Annual Report on Form 20-F 2024 | 4 | riotinto.com |

Strategic report Chair’s statement

| Rio Tinto is optimistic about the coming year. In 2024, we laid out thepathway to a decade of growth, gained clarity on the portfolio, and ensuredwe are in excellent financial health even as we execute more projectsworldwide than ever before. Even with more global volatility, the underlyingdrivers of population growth, an expanding global middle class, the push formore localised manufacturing, artificial intelligence, and the energytransition continue to underpin demand for what we do. |

The world needs the copper, aluminium, iron ore, and minerals we provide; our business is evolving in line with this demand, recently with our lithium business and the proposed acquisition of Arcadium. Our robust results and capital discipline demonstrate our ability to grow organically and inorganically, and to diversify and decarbonise our business while creating significant shareholder value. We have a lot of momentum, and I am confident we can deliver further value now and in the long term by following our strategy and continuing to focus on our 4 key objectives: to become Best Operator, striving for impeccable ESG credentials, to excel in development and to deepen our social licence. That said, we are devastated that there were 5 fatalities in the year, a tragic reminder of why a relentless focus on safety is so important in our industry. We are committed to learning from these fatalities to improve our processes everywhere. Our purpose in action As a Board, we have spent a lot of time in 2024 focusing on Rio Tinto’s strategy to ensure we have the right portfolio of commodities, clear milestones for success, and are building capacity to meet the increasing demand. We have seen this in action on many site visits. For example, in March, Ben Wyatt, Dean Dalla Valle