Investor Seminar

Performance, strategic direction and shareholder returns

20 October 2021

Gobi desert, Mongolia

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Cautionary and supporting statements

This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (together with their subsidiaries, "Rio Tinto"). By accessing/attending this presentation you acknowledge that you have read and understood the following statement.

Forward-looking statements

This presentation includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this report, including, without limitation, those regarding Rio Tinto's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Rio Tinto's products, production forecasts and reserve and resource positions), are forward-looking statements. The words "intend", "aim", "project", "anticipate", "estimate", "plan", "believes", "expects", "may", "should", "will", "target", "set to" or similar expressions, commonly identify such forward-looking statements.

Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Rio Tinto, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Rio Tinto's present and future business strategies and the environment in which Rio Tinto will operate in the future. Among the important factors that could cause Rio Tinto's actual results, performance or achievements to differ materially from those in the forward-looking statements include, but are not limited to: an inability to live up to Rio Tinto's values and any resultant damage to its reputation; the impacts of geopolitics on trade and investment; the impacts of climate change and the transition to a low-carbon future; an inability to successfully execute and/or realise value from acquisitions and divestments; the level of new ore resources, including the results of exploration programmes and/or acquisitions; disruption to strategic partnerships that play a material role in delivering growth, production, cash or market positioning; damage to Rio Tinto's relationships with communities and governments; an inability to attract and retain requisite skilled people; declines in commodity prices and adverse exchange rate movements; an inability to raise sufficient funds for capital investment; inadequate estimates of ore resources and reserves; delays or overruns of large and complex projects; changes in tax regulation; safety incidents or major hazard events; cyber breaches; physical impacts from climate change; the impacts of water scarcity; natural disasters; an inability to successfully manage the closure, reclamation and rehabilitation of sites; the impacts of civil unrest; the impacts of the Covid-19 pandemic; breaches of Rio Tinto's policies, standard and procedures, laws or regulations; trade tensions between the world's major economies; increasing societal and investor expectations, in particular with regard to environmental, social and governance considerations; the impacts of technological advancements; and such other risks identified in Rio Tinto's most recent Annual Report and accounts in Australia and the United Kingdom and the most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC") or Form 6-Ks furnished to, or filed with, the SEC. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this report. Rio Tinto expressly disclaims any obligation or undertaking (except as required by applicable law, the UK Listing Rules, the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and the Listing Rules of the Australian Securities Exchange) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Rio Tinto's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Nothing in this presentation should be interpreted to mean that future earnings per share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceed its historical published earnings per share.

Disclaimer

Neither this presentation, nor the question and answer session, nor any part thereof, may be recorded, transcribed, distributed, published or reproduced in any form, except as permitted by Rio Tinto. By accessing/ attending this presentation, you agree with the foregoing and, upon request, you will promptly return any records or transcripts at the presentation without retaining any copies.

This presentation contains a number of non-IFRS financial measures. Rio Tinto management considers these to be key financial performance indicators of the business and they are defined and/or reconciled in Rio Tinto's annual results press release, Annual Report and accounts in Australia and the United Kingdom and/or the most recent Annual Report on Form 20-F filed with the SEC or Form 6-Ks furnished to, or filed with, the SEC.

Reference to consensus figures are not based on Rio Tinto's own opinions, estimates or forecasts and are compiled and published without comment from, or endorsement or verification by, Rio Tinto. The consensus figures do not necessarily reflect guidance provided from time to time by Rio Tinto where given in relation to equivalent metrics, which to the extent available can be found on the Rio Tinto website.

By referencing consensus figures, Rio Tinto does not imply that it endorses, confirms or expresses a view on the consensus figures. The consensus figures are provided for informational purposes only and are not intended to, nor do they, constitute investment advice or any solicitation to buy, hold or sell securities or other financial instruments. No warranty or representation, either express or implied, is made by Rio Tinto or its affiliates, or their respective directors, officers and employees, in relation to the accuracy, completeness or achievability of the consensus figures and, to the fullest extent permitted by law, no responsibility or liability is accepted by any of those persons in respect of those matters. Rio Tinto assumes no obligation to update, revise or supplement the consensus figures to reflect circumstances existing after the date hereof.

©2021, Rio Tinto, All Rights Reserved

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Agenda

BST

AEDT

Topic

Presenter

08:00 - 08.15

18:00 - 18.15

Strategy and execution

Jakob Stausholm, Chief Executive

Mark Davies, Chief Technical Officer

08:15 - 08:40

18:15 - 18:40

Panel

James Martin, Chief People Officer

Culture and People: Becoming best operator

Kellie Parker, Chief Executive, Australia

Arnaud Soirat, Chief Operating Officer

Decarbonisation:

Vivek Tulpule, Chief Economist

Impact on commodity markets

08:40 - 09:10

18:40 - 19:10

Our own business and impact of green steel

Mark Davies, Chief Technical Officer

Commercial opportunities from

Alf Barrios, Chief Commercial Officer

decarbonisation

09:10 - 09:40

19:10 - 19:40

Q&A session 1

Jakob Stausholm | Mark Davies | James Martin | Kellie Parker |

Arnaud Soirat | Vivek Tulpule | Alf Barrios

09:40 - 09:55

19:40 - 19:55

BREAK

09:55 - 10:15

19:55 - 20:15

Pilbara Iron Ore

Simon Trott, Chief Executive, Iron Ore

10:15 - 10:35

20:15 - 20:35

Aluminium

Ivan Vella, Chief Executive, Aluminium

Panel

Bold Baatar, Chief Executive, Copper

10:35 - 11:00

20:35 - 21:00

Mark Davies, Chief Technical Officer

Excel in development

Sinead Kaufman, Chief Executive, Minerals

11:00 - 11:10

21:00 - 21:10

Financials

Peter Cunningham, Chief Financial Officer

11:10 - 11:40

21:10 - 21:40

Q&A session 2

Jakob Stausholm | Ivan Vella | Mark Davies | Sinead Kaufman |

Peter Cunningham

11:40 - 11:45

21:40 - 21:45

Closing remarks

Jakob Stausholm, Chief Executive

©2021, Rio Tinto, All Rights Reserved

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Jakob Stausholm

Strategy and execution

Rainbow Bridge. Tokyo, Japan

Welcome and thanks for joining us, in person and virtually.

I have been in this role almost 300 days. It has been busy and challenging. But it has also been enjoyable. Rio Tinto is a truly great company to lead.

When I was appointed Chief Executive, my immediate focus was to stabilise the company after the tragedy of Juukan Gorge; to start to repair

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damaged external relationships, particularly in Australia; and set the overall direction to make Rio Tinto stronger.

Looking back over the last twelve months. We have completed the biggest management change in Rio Tinto's history. I also believe that we are extracting the full learning from Juukan Gorge and have made an important and significant shift in how we see ourselves and the external world.

We are becoming more humble, more human and more empathetic. Strengthening our relationships with society more broadly, is clearly a multi-year journey. But it starts with us changing, which we are doing.

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Rio Tinto plc published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 16:31:02 UTC.