Strong Foundation for Growth, Decarbonisation and Shareholder Returns

Application of the returns policy Capital return considerations Results for FY 2021 Long-term growth prospects Balance sheet strength 40-60 per cent of underlying earnings through the cycle Balanced between growth and shareholder returns Outlook Comments - Operating cash flow of $25.3 billion - FCF of $17.7 billion¹ - Underlying earnings up 72% to $21.4 billion - Focused on Oyu Tolgoi - Investing in replacing high quality assets in Pilbara, Kennecott and Zulti-South - Ongoing exploration and evaluation programme - Winu - Strong balance sheet with net cash of $1.6 billion Pay-out of 79% based on (i) Strong financial performance in 2021 (ii) strong balance sheet Defined growth pipeline and a strong balance sheet providing capacity for shareholder return Encouraged by growth prospects in the coming year Remain vigilant in relation to potential disruption from new COVID-19 variants and geopolitical tensions 1 Free cash flow is defined as net cash generated from operating activities less purchases of PP&E less lease principal payments plus sales of PP&E Rio Tinto ©2022, Rio Tinto, All Rights Reserved 64

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