H1 2023 EBITDA Overview and Oyu Tolgoi Outlook

Common acronyms Definitions Calculated abatement carbon price The levelised marginal cost of abatement at a zero carbon price Calculation: Discounted sum of all abatement costs over time at a zero carbon price / Discounted sum of all abated emissions over time Discounted at the hurdle rate RT uses for all investment decisions AHS Automous Haulage System EC European Commission Mtpa Million tonnes per annum RTFT Rio Tinto Fer et Titane AIFR All Injury Frequency Rate EMEA Europe, Middle East and Africa MACC Marginal Abatement Cost Curve RTIO Rio Tinto Iron Ore ΑΙ Aluminium ESG Environmental, Social, and Governance MW Megawatt RTX Rio Tinto Exploration AL2O3 Aluminium oxide EU European Union MWh Megawatt hour SPS Safe Production System ARDC Arvida Research and Development Centre Fe Iron NbS Nature-based Solutions S&P Standard & Poor's ASX Australian Securities Exchange FOB Free On Board NPV Net present value T Tonne ATS Aluminium Technology Solutions FS Feasibility Study O&M Operation & Maintenance t/ha Tonnes per hectare B₂O3 Boric oxide GHG Greenhouse gas OT Oyu Tolgoi tLS Bn Billion GFC Global Financial Crisis Pa Per annum tCO2 e BF Blast furnace Gt Giga tonnes PJ Petajoule TiO2 Tonnes of liquid steel Tonne of carbon dioxide equivalent Titanium dioxide BOF Blast Oxygen Furnace GW Gigawatt PPA BSL Boyne Smelter Limited H₂ Hydrogen PP&E Power Purchasing Agreement Plant. Property & Equipment tpa Tonnes per annum TWh Terawatt hour CAGR Compound annual growth rate HBI Hot briquetted iron QAL Queensland Alumina Limited UB Ulaanbaatar CCGT Combined Cycle Gas Turbine HG High grade ore QMM QIT Madagascar Minerals USD United States dollar CCUS Carbon capture, utilisation and storage HME Heavy Mining Equipment R&D Research and development VAP Value-added product CCS Carbon Capture and Storage IEA International Energy Agency RBM Richards Bay Minerals WA Western Australia CO₂ Carbon dioxide IOC Iron Ore Company of Canada RE Renewable Energy WTS Western Turner Syncline CO₂e Carbon dioxide equivalent IRR Internal rate of return RRF Recovery and Resilience Facility YOY Year on Year Cu Copper JV Joint Venture ROCE Return on capital employed YTD Year to date DRI Direct Reduction Iron LCE Lithium Carbonate Equivalent RT Rio Tinto EAF Electric Arc Furnace LCOE Levelised Cost of Energy RTE Round trip efficiency EBITDA Earnings Before Interest, Taxes, Depreciation and Amortisation M Millions Mt Million tonnes Rio Tinto ©2023, Rio Tinto, All Rights Reserved 60 60

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