H1 2023 EBITDA Overview and Oyu Tolgoi Outlook
We will continue to invest consistently through the cycle.
01
Essential
capex
02
Integrity, Replacement, Decarbonisation
Interim ordinary
dividends
40-60% of underlying earnings
on average through the cycle1
03 Iterative cycle of...
Compelling
growth²
4.2
5.3
6.8
6.2
6.0
0.8
2.0
6.1
4.3
2.9
2.5
2.5
2.2
راس
1.8
1.4
1.3
5.1
2.5
2019
2020
2021
2022
2023F
Further cash
returns to
shareholders
Compelling
growth
2019A 2020A 2021A
2022A 2023F
H1 16 H1 17 H118 H1 19 H1 20 H1 21 H1 22 H1 23
Debt
management
Sustaining
Other replacement
■ Pilbara replacement
■ Decarbonisation
O H1 Actuals
Declared basis
Rio Tinto
©2023, Rio Tinto, All Rights Reserved
1 Shareholder returns on a declared basis, excluding divestment proceeds returned to shareholders | 2Includes acquisitions of Turquoise Hill Resources and Rincon Lithium, growth capex, and
Exploration and Evaluation spend on a Rio Tinto share basis
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