H1 2023 EBITDA Overview and Oyu Tolgoi Outlook

Iron Ore Sustained improvement in operational performance Underlying EBITDA H1 2023 vs H1 2022 $m 10,395 H1 2022 underlying EBITDA (1,248) 174 (1) (113) 9,207 Price Exchange rates Energy Inflation Rio Tinto ©2023, Rio Tinto, All Rights Reserved 1Other includes Non-cash costs and Exploration & Evaluation expense Flexed H1 2022 underlying EBITDA 575 (70) 80 Volumes and Mix Cash costs Other¹ 9,792 H1 2023 underlying EBITDA 37

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