Modernising Agreements and Transition to Renewables

35 36 38 2000 2001 2002 2003 2004 Mt Potential for positive structural change in the market from energy and smelting caps in China Aluminium supply by source (global) Primary Aluminium supply (China) 91 92 91 90 85 82 4.8% 78 40 75 71 35 67 61 CAGR: 58 54 55 54 6.8% 49 47 43 40 322 30 25 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Rio Tinto ©2021, Rio Tinto, All Rights Reserved 2020 20 CAGR: 15 2.6% 10 CAGR: 4.2% 0 Mt China Primary Aluminium Supply, Mt LO 5 2 3 467 O 9 13 14 14 17 Non-Renewables, Primary Renewables, Primary IAI. Sources: Rio Tinto Market Analysis, CRU, Recycled Content Renewables include hydropower and other renewables. Non-Renewables include coal, gas, and nuclear. Renewables Non Renewables Sources: Rio Tinto Market Analysis, CRU, IAI 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 22 20 Weeks of consumption 9 36 36 37 35 8 32 31 7 28 25 6 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 - Inventory (RHS) 57 0 1 2 4 3

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