Modernising Agreements and Transition to Renewables

Delivering our strategy 50% reduction in our emissions by 2030 New targets for our Scope 1 & 2 emissions (Mt CO2e equity basis) 32.6 Accelerate R&D and beyond - Advantaged renewables position - Accelerate R&D -15% -50% - ELYSISTM 16.3 Studying Canadian DRI High-quality iron ore Ambition to double investment in growth Growth to 2030 (multiple of current size)** 10 5.5 3.8 184 1.5 275 Partnerships 48 Market - Crack the code on Pilbara iron ore 28 Size ($bn) 3 9 13 4 - Delivering our Scope 3 goals 2018* 2025 2030 ■2020 2030 Lithium Nickel (Class 1) Cobalt Copper ~$7.5bn*** investment in decarbonisation from 2022-2030 plus indirect expenditure Double growth capex up to $3bn per year from 2023 *2018 Scope 1 & 2 emissions baseline has been adjusted for divestments. **Market size is for primary market only. Recycling is expected to take a larger share of total demand in the future for most commodities. ***Conceptual view of capital requirements at October 2021. Marginal Abatement Cost Curves (MACC) will be updated on an annual basis. Sources: Rio Tinto Market Analysis, UBS, CPM Group | DRI = Direct Reduction Iron Rio Tinto ©2021, Rio Tinto, All Rights Reserved 11

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