Record output and firm 2026 outlook for Rio Tinto (RIO) across key metals
Filing Impact
Filing Sentiment
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6-K
Rhea-AI Filing Summary
Rio Tinto reported strong fourth quarter and full-year 2025 operating results, highlighted by an 8% year-on-year increase in copper equivalent production and 5% higher shipments. Pilbara iron ore achieved record quarterly production and shipments in Q4, with full-year Pilbara shipments of 326.2 Mt on a 100% basis, only slightly below 2024 despite earlier cyclone disruption. Copper production on a consolidated basis rose 11% to 883 kt for 2025, driven by the ramp-up of Oyu Tolgoi, where underground development is now complete and delivering record quarterly output. Bauxite reached a record 62.4 Mt, up 6%, aluminium rose 3% to 3.38 Mt and lithium carbonate equivalent production was 57 kt, reflecting growth in Argentina operations. The company met or exceeded its 2025 production guidance across product groups and kept 2026 production guidance unchanged from prior disclosures, while exploration and evaluation expense fell to $795 million from $935 million in 2024.
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Insights
Broad-based volume growth, record runs and steady guidance signal operational strength.
Rio Tinto delivered higher 2025 output across key commodities, with copper equivalent production up
The Oyu Tolgoi underground ramp-up and record quarterly copper production are central to the growth story, complemented by expanding lithium operations that produced 57 kt of lithium carbonate equivalent in 2025. Production guidance for 2026 remains unchanged, suggesting no major recalibration of medium-term volume expectations despite market volatility in prices.
Exploration and evaluation expense declined to
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
January 21, 2026
| Commission file number: 001-10533 | Commission file number: 001-34121 | ||||
| Rio Tinto plc | Rio Tinto Limited | ||||
| ABN 96 004 458 404 | |||||
(Translation of registrant’s name into English) | (Translation of registrant’s name into English) | ||||
| 6 St. James’s Square | Level 43, 120 Collins Street | ||||
| London, SW1Y 4AD, United Kingdom | Melbourne, Victoria 3000, Australia | ||||
(Address of principal executive offices) | (Address of principal executive offices) | ||||
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
EXHIBITS
99.1Stock Exchange announcement dated 21 January 2026 entitled ‘Rio Tinto releases fourth quarter 2025 production results’.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorised.
| Rio Tinto plc | Rio Tinto Limited | ||||||||||
| (Registrant) | (Registrant) | ||||||||||
By | /s/ Andrew Hodges | By | /s/ Tim Paine | ||||||||
Name | Andrew Hodges | Name | Tim Paine | ||||||||
| Title | Company Secretary | Title | Company Secretary | ||||||||
| Date | 21 January 2026 | Date | 21 January 2026 | ||||||||
Rio Tinto releases fourth quarter 2025 production results 21 January 2026 Standout production results with +8% CuEq production growth in 2025 Rio Tinto Chief Executive Simon Trott said: “Our operations delivered exceptional production performance, both on a quarter-on-quarter and full year basis, as we leverage our strong foundation of operating excellence and project delivery across our portfolio. “We achieved record quarterly iron ore production in the Pilbara, with a strong recovery from the extreme weather interruptions earlier in the year. At Simandou, we celebrated the major milestone of first shipment from the port; a testament to our ability to deliver major growth projects. “Record copper production continues following delivery of our Oyu Tolgoi underground project, another demonstration of our unique and diverse project capabilities. “A step change in bauxite production through the year once again highlights the ongoing maturation of our operational excellence. “In lithium, we achieved production growth from our operations and in-flight projects as planned in 2025, as we build out our high-quality portfolio with discipline. “Implementation of our stronger, sharper, simpler way of working continues, and is delivering results and creating value.” 1. Executive Summary • Operational excellence: Copper equivalent (CuEq)1 production rose 8% YoY in 2025, with shipments up 5%, driven by the strong ramp-up of Oyu Tolgoi, a record year for bauxite production and our world-class lithium business. • Iron ore: Pilbara operations achieved record Q4 production, +4% YoY, and shipments, +7% YoY, while the exceptional development pace at Simandou continued with the start of operations and first shipment in Q4. • Aluminium: Production strength and agility demonstrated across the aluminium value chain in 2025. • Lithium: Achieved record quarterly production from our operating assets in Argentina. • Copper: Annual production grew 11% YoY, exceeding the top end of our increased guidance range, driven by the successful ramp-up of Oyu Tolgoi, where the underground development project is now complete. Production2 Q4 2025 vs Q4 2024 2025 vs 2024 2025 guidance Pilbara iron ore shipments (100% basis) Mt 91.3 +7 % 326.2 -1 % 323 - 338 (at lower end) Pilbara iron ore production (100% basis) Mt 89.7 +4 % 327.3 — % NA IOC3 iron ore pellets and concentrate Mt 2.2 -14 % 9.3 -1 % 9.0 - 9.5 Bauxite Mt 15.4 0 % 62.4 +6 % >61 Mt Alumina Mt 2.0 -1 % 7.6 +4 % 7.4 - 7.8 Aluminium4 Mt 0.85 +2 % 3.38 +3 % 3.25 - 3.45 (at upper end) Copper (consolidated basis) kt 240 +5 % 883 +11 % 860 - 875 Titanium dioxide slag Mt 0.2 -6 % 1.0 -2 % 1.0 - 1.2 (at lower end) Boric oxide equivalent Mt 0.1 -6 % 0.5 0 % ~0.5 1 Copper equivalent volume = Rio Tinto’s share of production volume / Volume conversion factor x Product price ($/t) / Copper price ($/t). Prices are based on long-term consensus prices. 2 Rio Tinto share unless otherwise stated. 3 Iron Ore Company of Canada.4 Includes primary aluminium only. Notice to ASX/LSE Rio Tinto | Fourth quarter operations review 1 EXHIBIT 99.1
2. Guidance Production guidance • 2025 guidance: met or exceeded for our Product Groups. • 2026 guidance1: unchanged from Capital Markets Day 2025 disclosures, as shown in the table below. Production and sales2 Units 2026 guidance1 Total iron ore sales Mt4 343 - 366 Pilbara sales3 (100% basis) Mt4 323 - 338 Simandou sales (100% basis) Mt4 5 - 10 IOC5 sales (100% basis) Mt4 15 - 18 Copper production (consolidated)6 kt 800 - 870 Aluminium & Lithium Bauxite production Mt 58 - 61 Alumina production7 Mt 7.6 - 8.0 Aluminium production8 Mt 3.25 - 3.45 Lithium, LCE production kt 61 - 64 1 Guidance remains subject to weather impacts. 2 Rio Tinto share unless otherwise stated. Our strategic reviews are advancing as planned, with the next phase focused on identifying the best path to unlock value. As such, we will no longer provide production guidance for Iron & Titanium, and Borates, while this process is underway. 3 Pilbara iron ore guidance remains subject to the timing of approvals for planned mining areas and heritage clearances. 4 Wet metric tonnes. 5 Iron Ore Company of Canada. 6 Circa 10% YoY growth from operated assets. 7 QAL production now included on a 100% basis for guidance. 8 Includes primary aluminium only. Unit cost guidance • 2025 unit cost performance and 2026 guidance will be given in the 2025 full year results release on 19 February 2026. 3. Group financial update Expenditure on exploration and evaluation • Pre-tax and pre-divestment expenditure on exploration and evaluation charged to the profit and loss account in 2025 was $795 million, compared with $935 million in 2024. Approximately 40% of the spend was by Copper, 32% by central exploration, 19% by Iron Ore (which includes Iron Ore Company of Canada), 8% by other operations and 1% by Aluminium & Lithium. Qualifying expenditure on the Rincon project has been capitalised since 1 July 2024, accounting for most of the decrease in expense. Rio Tinto | Fourth quarter operations review 2
4. Our markets Global economy: remains resilient despite persistent shocks and quarterly growth slowing, reflecting fading front-loaded trade flows and restrictive monetary stances in several economies. Inflationary pressures continue to ease globally. Chinese economy: continues to be driven by production and exports, while investment and consumption moderated in Q4 and the property market remains weak. Policy priorities include advanced manufacturing, technology innovation and green transition, while near-term stimulus remains modest beyond infrastructure support. Trade diversification continues and export composition is shifting towards intermediate and capital goods, semiconductors and EV value chains, alongside offshore manufacturing investments. US economy: showed resilience despite Q4 government shutdown. Financial conditions have loosened as borrowing costs declined, credit spreads narrowed and equity markets strengthened, all of which have supported financing activity and bolstered business and household confidence. Iron ore • China’s domestic steel consumption was stable QoQ, while its net export run-rates (including semi- finished steel) remained well above 120Mtpa. • Total seaborne iron ore shipments rose 4% QoQ and 2% YoY, driven by the non-major producers, whose shipments rose ~10% both QoQ and YoY, while supply from the majors was flat YoY. China’s portside inventories at 47 ports increased by 21Mt during Q4 to 166Mt. Copper • London Metal Exchange (LME) prices surged through Q4 to close the year at a high of $5.67/lb ($12,500/t), driven by US interest rate cuts, positive sentiment around AI-driven electricity demand and continued supply disruptions. • Chicago Mercantile Exchange (CME) prices continued to trade above LME prices, averaging ~10c/lb ($216/t) higher through Q41, due to the risk of copper cathode import tariffs. As a result, the US continues to import more copper than is required to meet demand and CME copper inventories are now above 400kt, compared to 85kt at the end of 2024. • The copper concentrate market remained extremely tight in Q4, with spot treatment and refining charges plunging to -$68/t and the 2026 annual benchmark settling at $0/t, both all-time lows. Aluminium • The LME Q4 average price reached its highest level since Q2 2022, supported by increasing expectations of a tighter global aluminium balance in H1 2026, a weaker US dollar and rally in copper prices. Global primary aluminium production showed marginal growth in the first eleven months of 2025, which, coupled with low inventory levels, provided upward momentum to the price. • In Q4, the US aluminium market premium reached its highest level, on a duty-paid basis, while on a duty-unpaid basis reached the maximum since Q2 2022, on lower levels of imports, the return of contango on LME and continuous de-stocking. European market premiums rose with some demand front-loading before the Carbon Border Adjustment Mechanism (CBAM) definitive phase, while Japan’s market premium began recovering on anticipated supply tightening. • Australian FOB alumina prices continued to fall in Q4 due to higher production in Indonesia and China, and elevated stock levels in China. Refineries in the upper quartile of the cost curve are unprofitable at current price levels, based on third-party data. • Chinese bauxite spot import prices continued to decline in Q4 on higher seaborne supply to China, primarily from Guinea, where idled mines show signs of restarting at the end of the wet season. Lithium • The lithium carbonate price increased 55% in Q4 fuelled by growing optimism for battery energy storage systems demand and strong shipment activity out of China. Global electric vehicle sales continued to grow at a rapid pace, reinforcing confidence in the sector. This momentum has prompted broad upgrades to lithium demand expectations. 1 CME front month vs LME cash price. Rio Tinto | Fourth quarter operations review 3
Borates • Market price was stable in Q4, with supply and demand balanced following market disruptions earlier in the year. Demand in China and the USA continued to be stable. Titanium dioxide • Demand across key TiO2 downstream sectors remained soft amid persistent macro headwinds, particularly in property and construction. Elevated inventories and ongoing margin pressures have compelled pigment producers to scale back TiO2 feedstock purchases. Following weak demand, some TiO2 feedstock supply was curtailed in 2025; supply is estimated to have declined ~5% year- on-year. Index prices Start of Q4 (01/10/25) End of Q4 (31/12/25) % change Start - End Q4 Q3 2025 average Q4 2025 average % change QoQ 2024 average 2025 average % change YoY Iron ore ($/dmt CFR China)1 104 109 +5 % 102 106 +4 % 109 102 -6% Copper (LME spot, c/lb) 466 567 +22 % 444 503 +13 % 415 451 +9% Aluminium (LME spot, $/t) 2,684 2,968 +11 % 2,618 2,827 +8 % 2,419 2,632 +9% Lithium carbonate (spot, $/t CIF China, Japan & Korea)2 9,380 14,500 +55 % 9,042 10,534 +17 % 13,083 9,451 -28% 1 Monthly average Platts (CFR) index for 62% iron fines. This is reflective of the pricing basis before we introduced the new product strategy (see Iron Ore section for further details). 2 Fastmarkets index for Lithium carbonate min 99.5% Li2CO3 battery grade. Average realised prices achieved for our major commodities Units H1 2025 H2 2025 2025 2024 Pilbara iron ore FOB, $/wmt 82.5 83.1 82.8 89.6 Pilbara iron ore1 FOB, $/dmt 89.7 90.3 90.0 97.4 Aluminium2 Metal $/t 3,125 3,504 3,318 2,834 Copper3 US c/lb 436 479 457 422 IOC pellets FOB $/wmt 130 121 126 144 1 Assuming 8% moisture. 2 LME plus all-in premiums (product and market). The US Midwest premium adapted to tariff levels in 2025, fully compensating for the 50% tariff after an initial period. Tariff costs are shown on page 9. 3 Average realised price for all units sold. Realised price does not include the impact of the provisional pricing adjustments, which positively impacted revenues in 2025 by $758 million (2024 negative impact of $92 million). Rio Tinto | Fourth quarter operations review 4
5. Iron Ore Pilbara operations Rio Tinto share of production (Wet million tonnes) Q4 2025 vs Q4 2024 vs Q3 2025 2025 vs 2024 Pilbara Blend and SP10 Lump1 25.6 +9 % +6 % 92.1 +6 % Pilbara Blend and SP10 Fines1 36.0 +2 % +8 % 130.2 0 % Robe Valley Lump 1.7 -8 % +1 % 6.6 +2 % Robe Valley Fines 2.4 -12 % +25 % 8.6 -17 % Yandicoogina Fines (HIY) 11.7 +12 % +8 % 42.8 -5 % Total Pilbara production 77.3 +5 % +8 % 280.3 +1 % Total Pilbara production (100% basis) 89.7 +4 % +7 % 327.3 0 % Rio Tinto share of shipments (Wet million tonnes) Q4 2025 vs Q4 2024 vs Q3 2025 2025 vs 2024 Pilbara Blend Lump 19.1 +46 % +8 % 57.7 +10 % Pilbara Blend Fines 34.6 +48 % +4 % 108.3 +11 % Robe Valley Lump 1.4 -9 % +3 % 5.2 0 % Robe Valley Fines 2.6 -14 % +17 % 9.7 -17 % Yandicoogina Fines (HIY) 12.4 +17 % +15 % 43.2 -6 % SP10 Lump1 3.6 -50 % +24 % 23.0 +2 % SP10 Fines1 5.0 -63 % +58 % 32.0 -22 % Total Pilbara shipments2 78.7 +9 % +10 % 279.1 +1 % Total Pilbara shipments (100% basis)2 91.3 +7 % +8 % 326.2 -1 % Total Pilbara shipments (consolidated basis)2, 3 80.6 +9 % +10 % 286.5 +1 % Production figures are sometimes more precise than the rounded numbers shown, hence small rounding differences may appear. 1 SP10 includes other lower grade products. 2 Shipments includes material shipped from the Pilbara to our portside trading facility in China which may not be sold onwards by the group in the same period. 3 While Rio Tinto has a 53% net beneficial interest in Robe River Iron Associates, it recognises 65% of the assets, liabilities, sales revenues and expenses in its accounts (as 30% is held through a 60% owned subsidiary and 35% is held through a 100% owned subsidiary). The consolidated basis sales reported here include Robe River Iron Associates on a 65% basis to enable comparison with revenue reported in the financial statements. • Q4 production: Record quarterly run rate of around 360 Mtpa driven by continued investment in mine health and productivity, and favourable weather. • Q4 shipments: Record quarterly run rate of around 360 Mtpa supported by strong rail and port outload performance. • Product strategy: SP10 sales were 10.5 Mt (100% basis) in Q4, a 50% reduction year-on-year, reflecting the ongoing execution of the new product strategy. • Agreement Modernisation: ◦ We signed an updated Agreement with the Nyiyaparli People to strengthen ways of working together, deliver long-term benefits for the Nyiyaparli People, and provide Rio Tinto with a clear framework for engaging on mine development on Nyiyaparli Country. ◦ We also signed an Interim Modernised Agreement with the Yinhawangka People, establishing a pathway to a fuller modernised agreement that will govern how Rio Tinto operates on Yinhawangka Country for the long term. • Full year: Mine operations bounced back from the cyclone impacts in Q1, achieving record rates since April and resulting in Pilbara mine production of 327.3 Mt (100% basis), stable year-on-year. With the cyclone recovery constraining the ports for most of H1, strong mine performance created surplus stocks enabling record shipping in H2. This allowed the system to recover 9 of the 13 Mt of cyclone losses; full year shipments were 326.2 Mt (100% basis), 1% lower year-on-year. Rio Tinto | Fourth quarter operations review 5
• Unlocking additional value from existing infrastructure: ◦ We reached an agreement with our Hope Downs Joint Venture partner to access an additional 400 Mt1 of Resource utilising existing infrastructure. ◦ We announced we are exploring opportunities with BHP to mine up to 200 Mt of iron ore at our neighbouring Yandicoogina and Yandi iron ore operations to extend mine life and create additional value. • Q4 sales: 10% of sales priced by reference to the prior quarter’s average index lagged by one month: ◦ remainder sold either on current quarter average, month average or on the spot market. ◦ 25% of sales were made on a free on board (FOB) basis, with remainder sold including freight. • Q4 portside sales in China: 2.0 Mt (9.5 Mt in Q4 2024) ◦ 95% of our portside sales were either screened or blended in Chinese ports. ◦ End-December inventory levels at portside were 6.4 Mt, including 3.3 Mt of Pilbara product. • Achieved average pricing in 2025 was $82.8 per wet metric tonne ($89.6 in 2024) on an FOB basis (equivalent to $90.0 per dry metric tonne, with an 8% moisture assumption). This compares to the average price for the monthly average Platts index for 62% iron fines converted to a FOB basis of $92.5 per dry metric tonne. 1 The approximately 400 Mt is part of the Texas East deposit and was included in the Mineral Resources reported in accordance with the JORC Code and the ASX Listing Rules in Rio Tinto’s 2024 Annual Report released to the ASX on 20 February 2025 and available at riotinto.com. This 400 Mt comprises approximately 5% of the 5.8 Bt @ 62.4% Fe Inferred Mineral Resources of Brockman Ore and approximately 4% of the 2.6 Bt @ 56.7% Fe Inferred Mineral Resources of Brockman Process Ore. The Competent Persons responsible for the information in in the 2024 Annual Report that relates to Brockman Mineral Resources and Brockman Process Ore Mineral Resources are Natalie Brajkovich, Malcom Judge, Elizabeth Barron, each a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and Phil Savory, a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Rio Tinto confirms that it is not aware of any new information or data that materially affects the information included in the 2024 Annual Report, that all material assumptions and technical parameters underpinning the estimates in the 2024 Annual Report continue to apply and have not materially changed, and that the form and context in which the Competent Persons’ findings are presented have not been materially modified. Mineral Resources are reported exclusive of Ore Reserves. Mineral Resources are reported on a 100% basis. Iron Ore Company of Canada (IOC) Production (Wet million tonnes) Q4 2025 vs Q4 2024 vs Q3 2025 2025 vs 2024 Iron ore pellets and concentrate (Rio Tinto Share) 2.2 -14 % -7 % 9.3 -1 % Iron ore pellets and concentrate (100%) 3.7 -14 % -7 % 15.9 -1 % • Q4 production: lower due to pit health and mine equipment reliability challenges which resulted in reduced ore feed to the concentrator. • Q4 sales: volumes reflect lower concentrator feed. • Rail infrastructure: annual rail haulage set a record at 37.8 Mt, 4% higher than in 2024, driven by continued operational improvements to meet increasing third party demand and IOC material. Rio Tinto | Fourth quarter operations review 6
Simandou Rio Tinto production (Wet million tonnes)1, 2 Q4 2025 vs Q4 2024 vs Q3 2025 2025 vs 2024 Fines production (Rio Tinto share) 1.0 NA NA 1.0 NA Fines production (100%) 2.3 NA NA 2.3 NA 1 Simandou production represents crushed ore at the SimFer mine gate before train loading. 2 Simandou sales will represent ore which has been through tertiary crushing in China. There is a ~2-3 month lag between mine gate production and sales; this accounts for time for railing of ore to the port in Guinea, shipping to China and tertiary crushing in China. • Q4: First ore from the SimFer mine commenced train loading in October, with first shipment from the WCS port in December 2025. • As reported in Q3, stockpiles have continued to build at the SimFer mine gate, as expected. In total, 2.3 Mt of crushed iron ore was produced in 2025 (100% SimFer), using temporary crushers, with ~2.1 Mt of crushed ore stockpiled at the mine gate at the end of Q4, ready for loading. Rio Tinto | Fourth quarter operations review 7
6. Aluminium & Lithium Aluminium Rio Tinto share of production (‘000 tonnes) Q4 2025 vs Q4 2024 vs Q3 2025 2025 vs 2024 Bauxite 15,397 0 % -6 % 62,400 +6 % Bauxite third party shipments 10,532 -1 % -9 % 43,087 +5 % Alumina1 1,969 -1 % +4 % 7,593 +4 % Aluminium 852 +2 % -1 % 3,380 +3 % Recycled aluminium 62 +7 % -9 % 269 +2 % 1 As stated in Q1 2025, following sanction measures by the Australian Government, Rio Tinto has taken on 100% of capacity of Queensland Alumina Limited (QAL). With the end of the QAL participation agreement at the end of December 2024, QAL and Rio Tinto have entered into a new two-year tolling agreement for 100% of the capacity, effectively making QAL a tolling entity exclusively for Rio Tinto. This additional output is excluded from the production tables in this report for 2025; however, we will be including the additional output from 2026 and reporting QAL on a 100% basis. Bauxite • Q4: production remained robust after a record Q3, with Amrun sustaining its high plant utilisation rates. Lower production at Gove due to scheduled maintenance. • Full year 2025: new annual production record of 62.4 Mt reflected the ongoing uplift from the Safe Production System and stable operating performance. Alumina • Q4: operations performed well with improving plant performance at Yarwun and Alumar delivering solid results. Vaudreuil returned to normal operations post a planned shutdown in Q3. • At Yarwun, we announced that we will reduce production by 40% from October 2026, to extend the operation’s life until 2035 and allow time to explore further life-extension and modernisation options. Aluminium • Q4: solid performance as the group continued to adapt to market and supply chain dynamics, maintaining output near historical highs. ◦ NZAS: achieved full production rates in Q4, after operations ramped up in Q3 post the call from Meridian Energy to reduce electricity usage by 50MW which ended on 15 June 2025. ◦ Kitimat: stable production despite operating with fewer pots than targeted, as we continue to adapt to effects of lower water levels. • At the Bell Bay smelter in Tasmania, we secured a one year extension (to 31 December 2026) of our hydro power supply contract in October 2025 (as announced at our Capital Markets Day 2025). We continue regular discussions and engagement with Hydro Tasmania and both Tasmanian and Federal Governments to secure a new power agreement. $/tonne 2025 2024 2025 vs 2024 Average realised prices including premiums for value- added products (VAP) 3,318 2,834 +17 % Average LME price 2,632 2,419 +9 % Average product premiums for VAP sales1 336 295 +14 % 1 Our VAP sales were 42% of primary metal sold in 2025 (2024: 46%). Rio Tinto | Fourth quarter operations review 8
H1 2025 H2 2025 2025 Total RTA shipments - US destination, kt 723 630 1,353 Total RTA tariff cost, $m 321 709 1,030 Average mid-west premium duty paid1, $/tonne 855 1,731 1,301 Average realised tariff costs - US destination, $/tonne 444 1,126 761 1 Mid-west premium duty paid applies to approximately 50% of our total volumes in 2025 (59% in 2024). The US Midwest premium adapted to tariffs level in 2025, fully compensating for the 50% tariff after an initial period. Recycled aluminium • YoY: solid performance with stable demand for recycled products, as US volumes remained robust and Canadian shipments were stabilising. Lithium Rio Tinto share of production (‘000 tonnes) Q4 2025 vs Q4 2024 vs Q3 2025 2025 vs 2024 Total lithium carbonate equivalent (LCE) production1,2 15 NA +23 % 57 NA 1 LCE is derived from lithium carbonate, lithium chloride and spodumene concentrate. These compounds are used as feedstock in downstream production. 2 Q1 2025 LCE production from Arcadium was 17kt of which 6kt was produced since completion of the acquisition in March. Accordingly of the 57kt LCE production in 2025, 46kt was attributable to Rio Tinto. • Q4: strong operational performance. ◦ Lithium hydroxide: output rose as Bessemer City achieved record quarterly production. ◦ Lithium carbonate: record quarterly production at both Fenix and Olaroz attributed to solid operational performance and seasonality uplift (with Q4 being the highest solar evaporation period). ▪ Fenix operated at full capacity (versus Q3 scheduled maintenance). Expansion 1A (with mechanical evaporation) completed its ramp-up as planned and was operating at full capacity in Q4. ▪ Olaroz stage 1 ran at full capacity as planned, and stage 2 performed in line with expectations. Rio Tinto | Fourth quarter operations review 9
7. Copper Rio Tinto production1 (‘000 tonnes) Q4 2025 vs Q4 2024 vs Q3 2025 2025 vs 2024 Copper Kennecott - Refined metal2 38 -31 % +196 % 134 -31 % Escondida - Metal in concentrates 84 -10 % -5 % 348 +6 % Escondida - Refined metal 14 +5 % 0 % 56 +2 % Oyu Tolgoi - Metal in concentrates 104 +57 % +16 % 345 +61 % Total copper production (consolidated basis1) 240 +5 % +18 % 883 +11 % 1 Includes Oyu Tolgoi and Kennecott on a 100% consolidated basis, and Escondida on an equity share basis. 2 We continue to process third party concentrate to optimise smelter utilisation, including 4 thousand tonnes of cathode produced from purchased concentrate in Q4 2025 (39 thousand tonnes for full year 2025). Purchased and tolled copper concentrates are excluded from reported production figures and guidance. Sales of cathodes produced from purchased concentrate are included in reported revenues. Kennecott • Q4 / YoY: performance continues to improve as we successfully navigate geotechnical conditions. ◦ Higher production in Q4 following the successful completion of the planned 21-day concentrator shutdown in September and 45-day smelter shutdown in mid-October. Higher concentrator throughput and improved grades more than offset reduced recoveries. ◦ Lower YoY production of refined metal due to ramp-up through October, following completion of smelter shutdown, and a strong prior year performance. Escondida • Q4: lower production driven by a reduction in concentrator output and head grades, as a result of mine sequencing, partly offset by further improvement in recoveries. • YoY: lower production driven by a reduction in head grades from mine sequencing, partially offset by higher throughput and recovery rates. Refined copper increased 5%, driven by 11% higher sulphide leach cathode production from irrigation initiatives, partially offset by a 10% decrease in Full SaL1 cathodes due to a scheduled shutdown. Oyu Tolgoi • Q4: we achieved another record quarter for copper production following the successful planned concentrator shutdown in September. Higher production was driven by the continued underground ramp-up, higher head grades and recovery rates. Underground material movement achieved record daily throughput of 52ktpd and averaged 42ktpd in December. • YoY: rising contribution from higher grade underground material, supported by the now fully operational conveyor to surface, combined with higher grade from the open pit. Full year copper production increased by 61% YoY, with a 121% increase in gold. • Ramp-up remains on track to reach an average of around 500 thousand tonnes of copper per year (100% basis and stated as recoverable metal) from 2028 to 20362. • Continuing engagement with Government of Mongolia including for the Entrée licence transfer. We maintain flexibility and options in the mine plan, including bringing Panel 1 or Panel 2 South into production first, depending on the timing of the licence transfer. 1 Full SaL is a processing technology that allows the extraction of copper using chlorine-assisted leaching predominantly for sulphidic material. 2 The ~500 thousand tonnes per annum copper production target (stated as recoverable metal) for the Oyu Tolgoi underground and open pit mines for the years 2028 to 2036 was previously reported in a release to the ASX dated 11 July 2023 “Investor site visit to Oyu Tolgoi copper mine, Mongolia”. All material assumptions underpinning that production target and those production profiles continue to apply and have not materially changed. Rio Tinto | Fourth quarter operations review 10
8. Borates, TiO2 and diamonds Rio Tinto share of production (’000 tonnes) Q4 2025 vs Q4 2024 vs Q3 2025 2025 vs 2024 Borates - B2O3 content 124 -6 % -3 % 502 0 % Titanium dioxide slag - TiO2 222 -6 % -15 % 975 -2 % Rio Tinto share of production (‘000 carats) Q4 2025 vs Q4 2024 vs Q3 2025 2025 vs 2024 Diamonds 1,112 +43 % -2 % 4,429 +61 % As announced on 27 August 2025, our Borates and Iron & Titanium businesses have now moved to the Chief Commercial Officer’s portfolio for strategic review. The next phase is focused on testing the market for these assets. Throughout this review process, we will continue to focus on running these businesses safely and profitably to meet customer commitments. Borates • Q4: Lower operating rates due to planned maintenance which is now complete. • YoY: Stable operating performance. Iron & Titanium • Q4: Aligned production to market demand. We continue to operate six (of nine) furnaces in Quebec and three (of four) furnaces at Richards Bay Minerals. Rio Tinto | Fourth quarter operations review 11
9. Capital Projects Project Total capital cost (100% unless otherwise stated) Status/Milestones Iron ore Project: Western Range Location: WA, Australia Ownership: Rio Tinto (54%) and China Baowu Steel Group Co. Ltd (46%) Capacity: 25 Mtpa Approval: Sept 2022 First production: March 2025 To note: The project includes construction of a primary crusher and an 18 kilometre conveyor connection to the Paraburdoo processing plant. $1.3bn (Rio Tinto share)1 • Planned production ramp-up through 2026. Project: Brockman (Brockman Syncline 1) Location: WA, Australia Ownership: 100% Capacity: 34 Mtpa Approval: March 2025 Planned first production: 2027 To note: The project is to extend the life of the Brockman regions in WA. $1.8bn • Bulk earthworks progressed during the quarter. • Major contract for fixed plant construction awarded in Q4. Project: Hope Downs 2 (incl. Bedded Hilltop) Location: WA, Australia Ownership: Rio Tinto (50%) and Hancock Prospecting (50%) Capacity: 31 Mtpa Approval: June 2025 Planned first production: 2027 To note: The project is to extend the life of the Hope Downs 1 operation in WA. $0.8bn (Rio Tinto share) • Main construction activities continue to progress in line with plan, including bulk earthworks clearing and installation of tunnel segments over the rail line. Project: West Angelas Sustaining Location: WA, Australia Ownership: Rio Tinto (53%), Mitsui Iron Ore (33%) and Nippon Steel (14%) Capacity: 35 Mtpa Approval: October 2025 Planned first production: 2027 To note: The project is to extend the life of the West Angelas hub in WA. $0.4bn (Rio Tinto share) • State Agreement approvals were received in October 2025, allowing mobilisation and the start of construction activities in November. Rio Tinto | Fourth quarter operations review 12
Project Total capital cost (100% unless otherwise stated) Status/Milestones Iron ore Project: Simandou Location: Guinea, Africa SimFer mine ownership: SimFer (85%), Government of Guinea (GoG) (15%) SimFer mine capacity: 60 Mtpa2 (27 Mtpa RT share) Approval: July 2024 Start date: first shipment in December 2025 To note: Investment in the Simandou high-grade iron ore project in Guinea in partnership with CIOH, a Chinalco-led consortium (the SimFer joint venture) and co-development of the rail and port infrastructure with Winning Consortium Simandou3 (WCS), Baowu and the Republic of Guinea (the partners) for the export of up to 120 Mtpa of iron ore mined by SimFer's and WCS's respective mining concessions.4 The SimFer joint venture5 will develop, own and operate a 60 Mtpa2 mine in blocks 3 & 4. WCS will construct the project's ~536 kilometre shared dual track main line, a 16 kilometre spur connecting its mine to the mainline as well as the WCS barge port, while SimFer will construct the ~70 kilometre spur line, connecting its mining concession to the main rail line, and the transhipment vessel (TSV) port. $6.2bn (Rio Tinto share) • We achieved first ore shipment in December. Ore is being railed from the SimFer mine to the main rail line via the SimFer rail spur and shipped through the WCS port while construction of the SimFer port is finalised. This marks the start of commissioning tests of the common rail to port infrastructure. Commissioning of the common rail to port infrastructure will be a complex process, and once complete, around the end of Q1 2026, we expect a 30 month ramp-up to full capacity. • Non-managed infrastructure - our partners confirm that construction is progressing well and is on track. • SimFer mine5 is progressing to plan, with 62% completed - bulk earthworks and permanent process facilities construction continue. First ore is expected through the permanent crushing facilities in H2 2026, on schedule and aligned with plan. Ore continues to be crushed and stockpiled through the temporary crushers. • SimFer rail spur is mechanically complete and in operation. Full rail commissioning is targeted for Q1 2026. • SimFer port continues to advance ahead of plan, with 66% completed - fabrication of the transhipment vessels (TSV) is continuing with first TSV under-construction successfully launched on 30 December 2025 in China. SimFer port commissioning expected in Q1 2027. • Workforce across all the SimFer scope of mine, rail and port has reached 26,700 with 82% Guinean participation. Aluminium Project: Low-carbon AP60 aluminium smelter Location: Quebec, Canada Ownership: Rio Tinto (100%) Capacity: Project will add 96 new AP60 pots, increasing AP60 capacity by 160,000 tonnes of primary aluminium per annum Approval: June 2023 Planned start date: First hot metal and commissioning is expected by Q1 2026, smelter fully ramped up by end of 2026. To note: The investment includes up to $113 million of financial support from the Quebec government. This new capacity is expected to be in addition to 30,000 tonnes of new recycling capacity at Arvida, which has been rescheduled to open in Q4 2026 (previously Q4 2025). $1.3bn • Construction activities progressed to plan, with lining and pot- to-pot module installations completed in both buildings. Energisation of the first substations successfully completed. • First hot metal and commissioning remains on track to be completed by Q1 2026. Lithium Project: Rincon expansion Location: Salta province, Argentina Ownership: Rio Tinto (100%) Capacity: 60ktpa (battery grade lithium carbonate) Approval: December 2024 Planned first production: 2028 with three-year ramp-up to full capacity To note: Project consists of the 3ktpa starter plant and 57ktpa expansion program. The mine is expected to have a 40-year6 life and operate in the first quartile of the cost curve. $2.5bn • Starter plant: commissioning completed and start-up in progress, aiming to reach full capacity by end 2026. • Construction of full scale plant remains on track. • Site infrastructure: concrete batch plant commenced operations in October, supporting first concrete pour for the process plant and launch of the 12-month concrete program. Rio Tinto | Fourth quarter operations review 13
Project Total capital cost (100% unless otherwise stated) Status/Milestones Lithium Project: Fenix expansion (1B) Location: Catamarca province, Argentina Ownership: Rio Tinto (100%) Capacity: 10ktpa LCE (battery grade lithium carbonate) Planned first production: H2 2026 To note: product is carbonate, chloride $0.7bn • Project is mechanically complete with commissioning at 60%. • First production remains on track for H2 2026. Project: Sal de Vida Location: Catamarca province, Argentina Ownership: Rio Tinto (100%) Capacity: 15ktpa LCE Planned first production: H2 2026 To note: product is carbonate $0.7bn • Project is mechanically complete with commissioning at 40%. • First production remains on track for H2 2026. Project: Nemaska Lithium Location: Quebec, Canada Ownership: Rio Tinto (50%), Investissement Québec (50%) Capacity: 28ktpa LCE (100%) Planned first production: 2028 To note: product is integrated lithium hydroxide. $1.1bn (Rio Tinto share) • Project work progresses at Bécancour hydroxide plant in Quebec. Engineering is now complete with construction at 60%. Commissioning planned to commence in 2026 ahead of first production in 2028. • Whabouchi and Galaxy mines: we are undertaking a strategic business and capital discipline review with our partners in Canada to decide which of the two mines we will develop. We expect to make a decision in the first half of 2026, to ensure an integrated solution for spodumene supply to Bécancour is available by 2028. Copper Project: Oyu Tolgoi underground mine Location: Mongolia Ownership: Rio Tinto (66%), Government of Mongolia (34%) Capacity: from both the open pit and underground mines, average of ~500kt7 per year from 2028 to 2036. Approval: 2016 First production: 2024, ramp-up till 2028 To note: Oyu Tolgoi is set to become the world’s 4th largest copper mine by 2030 $7.06bn • Underground project development completed during Q4. • Following the completion of the concentrator conversion and Primary Crusher #2 in Q3, efforts during this period focused on closeout and demobilisation activities. These works are progressing as planned. • Project remains focused on safe handover to operations. Project: Kennecott open pit extension Location: Utah, United States Ownership: Rio Tinto (100%) Approval: 2019 To note: The project scope includes mine stripping activities and some infrastructure development, including tailings facility expansion. The project will allow mining to continue into a new area of the orebody between 2026 and 2032. $1.8bn • Stripping will continue through 2027 with sustainable ore production from the second phase of the pushback expected to be reached in H2 2027. Project: Kennecott North Rim Skarn (NRS) underground development8 Location: Utah, United States Ownership: Rio Tinto (100%) Capacity: around 250 kt through to 20339 Approval: June 2023 First production: Q4 2025 To note: Original approval for $0.5bn with a further $0.1bn approved in December 2024 for additional infrastructure and geotechnical controls. $0.6bn • First production from NRS occurred in December 2025 with ramp up from main stoping ramp sequence in Q1 2026. Rio Tinto | Fourth quarter operations review 14
1. Rio Tinto share of the Western Range capital cost includes 100% of funding costs for Paraburdoo plant upgrades. 2. The estimated annualised capacity of approximately 60 million dry tonnes per annum iron ore for the Simandou life of mine schedule was previously reported in a release to the Australian Securities Exchange (ASX) dated 6 December 2023 titled “Investor Seminar 2023”. Rio Tinto confirms that all material assumptions underpinning that production target continue to apply and have not materially changed. 3. WCS is the holder of Simandou North Blocks 1 & 2 (with the Government of Guinea holding a 15% interest in the mining vehicle and WCS holding 85%) and associated infrastructure. WCS was originally held by WCS Holdings, a consortium of Singaporean company, Winning International Group (50%) and Weiqiao Aluminium (part of the China Hongqiao Group) (50%). On 19 June 2024, Baowu Resources completed the acquisition of a 49% share of WCS mine and infrastructure projects with WCS Holdings holding the remaining 51%. In the case of the mine, Baowu also has an option to increase to 51% during operations. During construction, SimFer will hold 34% of the shares in the WCS infrastructure entities with WCS holding the remaining 66%. 4. WCS holds the mining concession for Blocks 1 & 2, while SimFer holds the mining concession for Blocks 3 & 4. SimFer and WCS will independently develop their mines. 5. SimFer Jersey Limited is a joint venture between the Rio Tinto Group (53%) and Chalco Iron Ore Holdings Ltd (CIOH) (47%), a Chinalco-led joint venture of leading Chinese SOEs (Chinalco (75%), Baowu (20%), China Rail Construction Corporation (2.5%) and China Harbour Engineering Company (2.5%)). SimFer S.A. is the holder of the mining concession covering Simandou Blocks 3 & 4, and is owned by the Guinean State (15%) and SimFer Jersey Limited (85%). SimFer Infraco Guinée S.A. will deliver SimFer’s scope of the co-developed rail and port infrastructure, and is co-owned by SimFer Jersey (85%) and the Guinean State (15%). SimFer Jersey will ultimately own 42.5% of La Compagnie du Transguinéen, which will own and operate the co-developed infrastructure during operations. 6. The production target of approximately 53 kt of battery grade lithium carbonate per year for a period of 40 years was previously reported in a release to the ASX dated 4 December 2024 titled “Rincon Project Mineral Resources and Ore Reserves: Table 1”. Rio Tinto confirms that all material assumptions underpinning that production target continue to apply and have not materially changed. Plans are in place to build for a capacity of 60 kt of battery grade lithium carbonate per year with debottlenecking and improvement programs scheduled to unlock this additional throughput. Capacity of 60ktpa is comprised of 3ktpa starter plant, 50ktpa full scale plant and 7ktpa additional optimisation. 7. The ~500 thousand tonne per year copper production target (stated as recoverable metal) for the Oyu Tolgoi underground and open pit mines for the years 2028 to 2036 was previously reported in a release to the Australian Securities Exchange (ASX) dated 11 July 2023 “Investor site visit to Oyu Tolgoi copper mine, Mongolia”. All material assumptions underpinning that production target continue to apply and have not materially changed. 8. The NRS Mineral Resources and Ore Reserves, together with the Lower Commercial Skarn (LCS) Mineral Resources and Ore Reserves, form the Underground Skarns Mineral Resources and Ore Reserves. 9. The 250 thousand tonne copper production target for the Kennecott underground mines over the years 2023 to 2033 was previously reported in a release to the Australian Securities Exchange (ASX) dated 20 June 2023 "Rio Tinto invests to strengthen copper supply in US”. All material assumptions underpinning that production target continue to apply and have not materially changed. Rio Tinto | Fourth quarter operations review 15
10. Future Projects Project Status Iron Ore: Pilbara brownfields Location: WA, Australia Ownership: Rio Tinto (100%) Capacity: over the medium term, our Pilbara system capacity remains between 345 and 360 million tonnes per year. Meeting this range, and the planned product mix, will require the approval and delivery of the next tranche of replacement mines over the next five years. • Four of the five major replacement mines are currently ramping up or under construction. • The Greater Nammuldi extension project continues to be optimised with a pathway to first ore in 20281. Iron Ore: Rhodes Ridge Location: WA, Australia Ownership: Rio Tinto (50%), Mitsui & Co. (40%), AMB Holdings Pty Ltd (10%)2 Capacity: 40 to 50 Mtpa First ore: end of decade To note: The Rhodes Ridge Joint Venture has approved a feasibility study to progress development of the first phase of the Rhodes Ridge project. The feasibility study will assess development of an operation with initial annual production capacity of 40 to 50 Mtpa, and is scheduled to commence in Q1 2026 and expected to conclude in 2029. The development will use Rio Tinto’s rail, port and power infrastructure. Following completion of the pre-feasibility study and with the environmental referral planned, we aim to progress toward reporting an initial Ore Reserve for Rhodes Ridge in 2026, contingent on continued review of all relevant modifying factors. • In December 2025, the Rhodes Ridge Joint Venture approved a $191 million (Rio Tinto share $96 million) feasibility study to progress development of the first phase of the project. • The joint venture partners (Rio Tinto 50%, Mitsui 40% and AMB Holdings 10%) intend to invest a further $146 million on exploration between 2026 and 2028 as part of ongoing study phases. • The feasibility study is expected to conclude in 2029. Aluminium: Arctial partnership Location: Finland To note: Partnership agreement with the Swedish investment company Vargas, Mitsubishi Corporation and other international and local industry partners to study a low carbon aluminium greenfield opportunity in Finland. As the strategic industrial partner, Rio Tinto will provide the Arctial partnership with access to its proven industry- leading AP60 technology and assist in what would be the first AP60 deployment in an aluminium smelter outside Quebec, Canada. • Arctial JV was formally established in Q2 2025 and a pre- feasibility study and environmental impact assessment study were conducted during the remainder of 2025. • The JV partners will review the outcome of those studies and are expected to consider next steps for further development of the project during Q1 2026. Lithium Location: Argentina • Developing the blueprint in 2026 for two future hubs, targeting $30/kg capital intensity with a 30-month timeline for development and <$5/kg C1 operating costs. Location: Atacama region, Chile To note: • Binding agreement to form a joint venture (JV) with Codelco to develop and operate the high-grade Salar de Maricunga project. • Binding agreement with ENAMI to form a JV to develop the Salares Altoandinos project. • Expected agreement closure dates: H1 2026 (for both Maricunga and Altoandinos), subject to receipt of all applicable regulatory approvals and satisfaction of other customary closing conditions. Location: Serbia Ownership: Rio Tinto (100%) To note: Development of the greenfield Jadar lithium-borates project in Serbia to include an underground mine with associated infrastructure and equipment, as well as a beneficiation chemical processing plant. • Project has been moved to care and maintenance. Rio Tinto | Fourth quarter operations review 16
Project Status Copper: Resolution Location: Arizona, US Ownership: Rio Tinto (55%), BHP (45%) To note: proposed underground copper mine in the Copper Triangle, in Arizona. • On 20 June 2025, the United States Forest Service (USFS) republished the Final Environmental Impact Statement (FEIS) and draft Record of Decision (ROD). Absent a Court order, this publication would have enabled completion of the congressionally mandated land exchange between Resolution Copper and the federal government. But, on 18 August 2025, as the land exchange neared completion, the Ninth Circuit Court of Appeals issued an administrative order to enjoin the land exchange. • Oral arguments in the Ninth Circuit Court of Appeals were completed on 7 January 2026. A decision is anticipated in 2026. • Resolution continues to seek to demonstrate to the Courts why the land exchange should proceed as directed by Congress. The land exchange will enable further underground mine development and place thousands of acres of ecologically and culturally significant land into permanent conservation. Copper: Winu Location: WA, Australia Ownership: Rio Tinto (70%), Sumitomo Metal Mining (SMM) (30%) To note: In late 2017, we discovered copper-gold mineralisation at the Winu project (Paterson Province in Western Australia). In 2021, we reported our first Indicated Mineral Resource. The pathway remains subject to regulatory and other required approvals. Project Agreement negotiations with Nyangumarta and the Martu Traditional Owner Groups remain our priority. • The Joint Venture agreement with SMM was completed on schedule in Q4. • The pre-feasibility study with an initial processing capacity development of up to 10 Mtpa was also completed in Q4. • The project has advanced to a feasibility study, which is currently in progress and scheduled for completion by the end of 2026. • The Environmental Review Document has been submitted to the Western Australian EPA for assessment in collaboration and support with both Traditional Owner Groups. Copper: La Granja Location: Cajamarca, Peru Ownership: Rio Tinto (45%), First Quantum Minerals (55%) To note: In August 2023, we completed a transaction to form a joint venture with First Quantum Minerals (FQM) that will work to unlock the development of the La Granja project, one of the largest undeveloped copper deposits in the world, with potential to be a large, long-life operation. FQM acquired its stake for $105 million. It will invest up to a further $546 million into the joint venture to sole fund capital and operational costs to take the project through a feasibility study and toward development. • Evaluation of drill results is underway - results are expected in Q1 2026. • Progressing the feasibility study. 1 All necessary State and Federal Government approvals have been received. The project is still subject to Traditional Owner consultation. 2 Mitsui holds its 40% interest through an entity named SPC Blue Pty Ltd and AMB holds its 10% interest through Rhodes Ridge Mining (No 1) Pty Ltd, a wholly owned subsidiary of Wright Prospecting Pty Ltd, that is managed and controlled by AMB. Rio Tinto | Fourth quarter operations review 17
11. Exploration and evaluation Commodities Advanced projects Greenfield/ Brownfield programs QoQ change Iron Ore Pilbara, Australia Greenfield and Brownfield: Pilbara, Australia NA Bauxite Greenfield: Australia NA Lithium Greenfield: Australia, Canada and Rwanda Chile and Finland removed Copper Nuevo Cobre, Chile Comita, Colombia Greenfield: Angola, Australia, Chile, China, Colombia, Kazakhstan, Laos, Peru, Papua New Guinea, Serbia*, USA and Zambia NA Other Chiri, Angola (diamonds) Kasiya*, Malawi (titanium) Texas (potash), Canada, removed from Advanced projects * Non-operated. • Overall, Rio Tinto has a strong portfolio of exploration projects with activity in 15 countries across six commodities. During 2025, the portfolio has been further simplified, including decisions to cease exploration activity in Brazil and Finland, and any lithium exploration projects without remaining commitments. Rio Tinto | Fourth quarter operations review 18
12. Fourth quarter public releases 1 October 2025 | Notification of potential retirement of Gladstone Power Station 7 October 2025 | Robe River Joint Venture to invest $733 million to extend West Angelas iron ore mine in Western Australia 14 October 2025 | Rio Tinto donates $1 million to support flood relief efforts in Arizona 24 October 2025 | Rio Tinto Board changes 27 October 2025 | Rio Tinto and China’s State Power Investment Corporation launch battery swap truck trial fleet at Oyu Tolgoi mine 28 October 2025 | Tomago Aluminium begins employee consultation on future operations 28 October 2025 | Rio Tinto IOC invests in equitable access to healthcare with $50,000 donation to Hope Air 1 November 2025 | Rio Tinto and Canada Growth Fund announce transaction to advance Canadian production of scandium 11 November 2025 | Simandou partners celebrate start of operations 13 November 2025 | ELYSIS achieves breakthrough with commercial-size cell: a first in aluminium production using the inert anode technology 14 November 2025 | Rio Tinto signs new wind power deal for Kennecott 17 November 2025 | Rio Tinto partners with Calix to test low-emissions steel making in Western Australia, pauses BioIron 18 November 2025 | Rio Tinto to reduce production at Yarwun Alumina Refinery to extend operational life 25 November 2025 | Rio Tinto strengthens support for organisations responding to gender-based violence across Canada 2 December 2025 | Karlka Nyiyaparli Aboriginal Corporation and Rio Tinto sign updated Native Title Agreement 4 December 2025 | Stronger, sharper and simpler Rio Tinto to deliver leading returns 4 December 2025 | Rio Tinto’s Nuton technology produces first copper 5 December 2025 | BHP and Rio Tinto welcome first Caterpillar battery-electric haul trucks to the Pilbara 8 December 2025 | Lithium Deep Dive and site visit, Argentina 8 December 2025 | Rio Tinto’s first Pilbara-made rail car built by Gemco in Karratha 12 December 2025 | Yinhawangka Aboriginal Corporation and Rio Tinto sign Interim Modernised Agreement 12 December 2025 | Tomago Aluminium welcomes continued collaboration on future operations 16 December 2025 | Rhodes Ridge Joint Venture partners begin $191 million feasibility study on up to 50Mtpa Pilbara iron ore mine 8 January 2026 | Statement regarding Glencore plc (“Glencore”) 15 January 2026 | Rio Tinto and BHP explore collaboration to mine up to 200 million tonnes of Pilbara iron ore 15 January 2026 | Rio Tinto and Amazon Web Services collaborate to bring low-carbon Nuton copper to U.S. data centres Rio Tinto | Fourth quarter operations review 19
Contacts Please direct all enquiries to media.enquiries@riotinto.com Media Relations, United Kingdom Matthew Klar M +44 7796 630 637 David Outhwaite M +44 7787 597 493 Media Relations, Australia Matt Chambers M +61 433 525 739 Alyesha Anderson M +61 434 868 118 Rachel Pupazzoni M +61 438 875 469 Bruce Tobin M +61 419 103 454 Media Relations, Canada Simon Letendre M +1 514 796 4973 Malika Cherry M +1 418 592 7293 Vanessa Damha M +1 514 715 2152 Media Relations, US & Latin America Jesse Riseborough M +1 202 394 9480 Investor Relations, United Kingdom Rachel Arellano M +44 7584 609 644 David Ovington M +44 7920 010 978 Laura Brooks M +44 7826 942 797 Weiwei Hu M +44 7825 907 230 Investor Relations, Australia Tom Gallop M +61 439 353 948 Eddie Gan-Och M +61 477 599 714 Rio Tinto plc 6 St James’s Square London SW1Y 4AD United Kingdom T +44 20 7781 2000 Registered in England No. 719885 Rio Tinto Limited Level 43, 120 Collins Street Melbourne 3000 Australia T +61 3 9283 3333 Registered in Australia ABN 96 004 458 404 This announcement is authorised for release to the market by Andy Hodges, Rio Tinto’s Group Company Secretary. riotinto.com LEI: 213800YOEO5OQ72G2R82 Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State Forward-looking statement This announcement includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this report, including, without limitation, those regarding Rio Tinto’s financial position, production guidance, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Rio Tinto’s products, production forecasts and reserve and resource positions), are forward-looking statements. The words “intend”, “aim”, “project”, “anticipate”, “estimate”, “plan”, “believes”, “expects”, “may”, “should”, “will”, “target”, “set to” or similar expressions, commonly identify such forward-looking statement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Rio Tinto, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Rio Tinto’s present and future business strategies and the environment in which Rio Tinto will operate in the future. A discussion of the important factors that could cause Rio Tinto’s actual results, performance or achievements to differ materially from those in the forward-looking statements can be found in Rio Tinto’s most recent Annual Report and accounts in Australia and the United Kingdom and the most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) or Form 6-Ks furnished to, or filed with, the SEC. Forward-looking statements should, therefore, be construed in light of the risk factors discussed in such documents, and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this report. Rio Tinto expressly disclaims any obligation or undertaking (except as required by applicable law, the UK Listing Rules, the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and the Listing Rules of the Australian Securities Exchange) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Rio Tinto’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Nothing in this announcement should be interpreted to mean that future earnings per share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceed its historical published earnings per share. Past performance cannot be relied on as a guide to future performance. Rio Tinto | Fourth quarter operations review 20
Rio Tinto production summary Rio Tinto share of production Quarter Full Year % change Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 Q4 25 vs Q4 24 Q4 25 vs Q3 25 2025 vs 2024 Principal commodities Alumina ('000 t) 1,992 1,921 1,815 1,888 1,969 7,303 7,593 -1 % +4 % +4 % Aluminium (Primary) ('000 t) 837 829 842 857 852 3,296 3,380 +2 % -1 % +3 % Bauxite ('000 t) 15,412 14,966 15,644 16,392 15,397 58,653 62,400 0 % -6 % +6 % Borates ('000 t) 132 117 132 128 124 504 502 -6 % -3 % 0 % Copper (consolidated) ('000 t) 228 210 229 204 240 793 883 +5 % +18 % +11 % Iron Ore (a) ('000 t) 76,102 62,408 73,548 74,168 79,492 287,676 289,616 +4 % +7 % +1 % Lithium carbonate equivalent (LCE) (‘000 t) NA 17 (c) 12 13 15 NA 57 NA +23 % NA Titanium dioxide slag ('000 t) 235 223 269 261 222 990 975 -6 % -15 % -2 % Other Metals & Minerals Diamonds ('000 cts) 775 942 1,238 1,137 1,112 2,759 4,429 +43 % -2 % +61 % Gold - mined ('000 oz) 79.0 78.7 112.9 120.8 151.9 282.0 464.3 +92 % +26 % +65 % Gold - refined ('000 oz) 43.1 34.0 32.1 19.4 31.3 143.8 116.7 -28 % +61 % -19 % Molybdenum ('000 t) 0.8 1.0 1.1 1.3 1.7 2.6 5.1 +101 % +29 % +95 % Salt ('000 t) 1,347 836 1,375 1,197 1,342 5,823 4,750 0 % +12 % -18 % Silver - mined ('000 oz) 1,144 1,159 1,474 1,233 1,650 4,236 5,516 +44 % +34 % +30 % Silver - refined ('000 oz) 766 635 509 254 439 2,314 1,838 -43 % +73 % -21 % Throughout this report, figures in italics indicate adjustments made since the figure was previously quoted on the equivalent page or reported for the first time. Production figures are sometimes more precise than the rounded numbers shown, hence small differences may result between the total of the quarter figures and the year to date figures. (a) Iron Ore production refers to saleable production, after crushing, screening and beneficiation processes. This, therefore, excludes Simandou production in 2025 which represents crushed ore at the mine gate. Final crushing of Simandou ore will initially be undertaken in China. Rio Tinto | Fourth quarter operations review 21
Rio Tinto share of production Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 ALUMINA Production ('000 tonnes) Jonquière (Vaudreuil) 100 % 350 355 340 323 351 1,353 1,370 Jonquière (Vaudreuil) specialty Alumina plant 100 % 26 25 30 26 29 111 110 Queensland Alumina 80 % 737 685 699 697 710 2,707 2,791 São Luis (Alumar) 10 % 97 90 93 98 98 369 380 Yarwun 100 % 782 765 653 743 781 2,762 2,943 Rio Tinto total alumina production 1,992 1,921 1,815 1,888 1,969 7,303 7,593 ALUMINIUM Primary production ('000 tonnes) Australia - Bell Bay 100 % 47 46 48 49 48 187 190 Australia - Boyne Island (a) 74 % 93 92 92 94 93 318 370 Australia - Tomago 52 % 77 72 73 75 76 302 296 Canada - six wholly owned 100 % 398 387 392 397 386 1,597 1,561 Canada - Alouette (Sept-Îles) 40 % 64 62 62 60 63 253 247 Canada - Bécancour 25 % 30 28 30 30 30 119 118 Iceland - ISAL (Reykjavik) 100 % 51 48 51 51 52 202 203 New Zealand - Tiwai Point (b) 100 % 59 74 75 82 83 239 315 Oman - Sohar 20 % 20 20 20 20 20 80 80 Rio Tinto total primary aluminium production 837 829 842 857 852 3,296 3,380 Recycled production ('000 tonnes) Matalco 50 % 58 66 74 68 62 264 269 Rio Tinto total recycled aluminium production 58 66 74 68 62 264 269 (a) On 1 November 2024, Rio Tinto’s ownership interest in Boyne Smelters Limited (BSL) increased from 71.04% to 73.5%. Production is reported including this change from 1 November 2024. (b) On 1 November 2024, Rio Tinto’s ownership interest in Tiwai Point Smelter (NZAS) increased from 79.36% to 100%. Production is reported including this change from 1 November 2024. BAUXITE Production ('000 tonnes) (a) Gove 100 % 3,372 3,141 3,303 3,244 3,040 12,721 12,729 Porto Trombetas 22 % 623 519 676 690 659 2,535 2,543 Sangaredi (b) 1,571 2,290 2,028 1,671 1,676 6,319 7,665 Weipa 100 % 9,846 9,017 9,637 10,788 10,021 37,078 39,464 Rio Tinto total bauxite production 15,412 14,966 15,644 16,392 15,397 58,653 62,400 (a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets. (b) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits from 45.0% of production. Rio Tinto | Fourth quarter operations review 22
Rio Tinto share of production Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 BORATES Production ('000 tonnes B2O3 content) Rio Tinto Borates - borates 100 % 132 117 132 128 124 504 502 COPPER Mine production ('000 tonnes) (a) Bingham Canyon 100 % 31.2 27.5 40.7 18.5 38.4 123.4 125.1 Escondida 30 % 104.8 98.7 96.4 96.7 89.9 358.7 381.7 Oyu Tolgoi 66 % 43.8 43.0 57.3 58.9 68.6 141.9 227.8 Rio Tinto total mine production 179.8 169.3 194.4 174.1 196.9 624.0 734.7 Refined production ('000 tonnes) Escondida 30 % 13.3 13.6 14.6 14.0 14.0 55.1 56.1 Kennecott (b) 100 % 55.4 42.3 39.8 13.0 38.4 193.2 133.6 Rio Tinto total refined production 68.7 55.9 54.4 27.0 52.4 248.3 189.7 Copper production – consolidated basis (‘000 tonnes) Kennecott (b) - Production of refined metal 55.4 42.3 39.8 13.0 38.4 193.2 133.6 Escondida - Mill production (metal in concentrates) (c) 92.9 88.7 87.3 88.3 83.9 329.3 348.1 Escondida - Refined production from leach plants 13.3 13.6 14.6 14.0 14.0 55.1 56.1 Oyu Tolgoi - Metal in concentrates 66.3 65.2 86.8 89.2 103.9 215.0 345.2 Rio Tinto total production - consolidated basis 228.0 209.8 228.5 204.4 240.3 792.6 883.1 (a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets. (b) We continue to process third party concentrate to optimise smelter utilisation, including 4 thousand tonnes of cathode produced from purchased concentrate in Q4 2025 (39 thousand tonnes for full year 2025). Purchased and tolled copper concentrates are excluded from reported production figures and guidance. Sales of cathodes produced from purchased concentrate are included in reported revenues. (c) Mill production was previously reported together with recoverable copper in ore stacked for leaching as mined production. Rio Tinto | Fourth quarter operations review 23
Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 DIAMONDS Production ('000 carats) Diavik 100 % 775 942 1,238 1,137 1,112 2,759 4,429 GOLD Metal in concentrates production ('000 tonnes) (a) Bingham Canyon 100 % 24.0 24.7 36.5 19.0 37.6 95.2 117.8 Escondida 30 % 11.2 13.4 12.1 10.6 9.6 50.6 45.6 Oyu Tolgoi 66 % 43.8 40.6 64.4 91.2 104.7 136.2 300.9 Rio Tinto total mine production 79.0 78.7 112.9 120.8 151.9 282.0 464.3 Refined production ('000 ounces) Kennecott (b) 100 % 43.1 34.0 32.1 19.4 31.3 143.8 116.7 (a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets. (b) We continue to process third party concentrate to optimise smelter utilisation, including 4 thousand tonnes of cathode produced from purchased concentrate in Q4 2025 (39 thousand tonnes for full year 2025). Purchased and tolled copper concentrates are excluded from reported production figures and guidance. Sales of cathodes produced from purchased concentrate are included in reported revenues. Rio Tinto | Fourth quarter operations review 24
Rio Tinto share of production Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 IRON ORE Production ('000 tonnes) (a) Hamersley mines (b) 59,656 49,637 57,422 58,574 63,972 224,816 229,605 Hope Downs 50 % 5,100 3,608 5,206 4,742 4,819 20,978 18,375 Iron Ore Company of Canada 59 % 2,532 2,317 2,488 2,348 2,187 9,446 9,339 Robe River - Pannawonica (Mesas J and A) 53 % 4,549 3,538 3,960 3,588 4,077 16,823 15,163 Robe River - West Angelas 53 % 4,265 3,308 4,472 4,917 4,436 15,612 17,133 Rio Tinto iron ore production ('000 tonnes) (a) 76,102 62,408 73,548 74,168 79,492 287,676 289,616 Breakdown of Production: Pilbara Blend and SP10 Lump (c) 23,460 19,385 23,186 24,003 25,557 86,634 92,131 Pilbara Blend and SP10 Fines (c) 35,158 27,860 32,970 33,357 35,974 129,592 130,160 Robe Valley Lump 1,825 1,536 1,679 1,663 1,672 6,393 6,551 Robe Valley Fines 2,723 2,002 2,280 1,924 2,405 10,431 8,612 Yandicoogina Fines (HIY) 10,402 9,309 10,944 10,873 11,697 45,181 42,822 Pilbara iron ore production ('000 tonnes) 73,570 60,091 71,060 71,820 77,305 278,230 280,277 IOC Concentrate 1,062 948 1,179 936 785 3,964 3,848 IOC Pellets 1,470 1,369 1,309 1,411 1,402 5,482 5,491 IOC iron ore production ('000 tonnes) 2,532 2,317 2,488 2,348 2,187 9,446 9,339 Simandou iron ore production ('000 tonnes) (g) 45% (h) 0 0 0 0 1,023 0 1,023 Breakdown of Shipments: Pilbara Blend Lump 13,079 9,775 11,159 17,668 19,081 52,626 57,682 Pilbara Blend Fines 23,351 18,825 21,520 33,353 34,602 97,847 108,299 Robe Valley Lump 1,508 1,159 1,385 1,330 1,371 5,234 5,246 Robe Valley Fines 3,055 2,232 2,638 2,233 2,615 11,658 9,718 Yandicoogina Fines (HIY) 10,585 9,350 10,636 10,764 12,421 45,971 43,170 SP10 Lump (c) 7,341 8,117 8,324 2,938 3,637 22,601 23,015 SP10 Fines (c) 13,421 11,405 12,459 3,155 4,975 41,225 31,994 Pilbara iron ore shipments ('000 tonnes) (d) 72,341 60,862 68,120 71,441 78,702 277,162 279,125 Pilbara iron ore shipments - consolidated basis ('000 tonnes) (d) (f) 74,213 62,537 69,985 73,431 80,586 284,615 286,540 IOC Concentrate 1,140 646 1,276 1,056 837 4,515 3,815 IOC Pellets 1,357 1,356 1,382 1,306 1,376 5,444 5,420 IOC Iron ore shipments ('000 tonnes) (d) 2,497 2,001 2,658 2,363 2,212 9,959 9,234 Rio Tinto iron ore shipments ('000 tonnes) (d) 74,838 62,863 70,778 73,804 80,914 287,121 288,359 Simandou iron ore sales (‘000 tonnes) 45% (h) 0 0 0 0 0 0 0 Rio Tinto iron ore sales ('000 tonnes) (e) 77,648 64,828 74,335 76,719 79,702 293,002 295,584 (a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets. Iron Ore production refers to saleable production, after crushing, screening and beneficiation processes. This, therefore, excludes Simandou production in 2025 which represents crushed ore at the mine gate. Final crushing of Simandou ore will initially be undertaken in China. (b) Includes 100% of production from Paraburdoo, Mt Tom Price, Western Turner Syncline, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass, Channar, Gudai-Darri, Eastern Range and Western Range mines. Whilst Rio Tinto owns 54% of the Eastern Range and the Western Range mines, under the terms of the joint venture agreement, Hamersley Iron manages the operation and is obliged to purchase all mine production from the joint venture and therefore all of the production is included in Rio Tinto's share of production. (c) SP10 includes other lower grade products. (d) Shipments includes material shipped to our portside trading facility in China which may not be sold onwards in the same period. (e) Represents the difference between amounts shipped to portside trading and onward sales from portside trading, and third party volumes sold. (f) While Rio Tinto has a 53% net beneficial interest in Robe River Iron Associates, it recognises 65% of the assets, liabilities, sales revenues and expenses in its accounts (as 30% is held through a 60% owned subsidiary and 35% is held through a 100% owned subsidiary). The consolidated basis sales reported here include Robe River Iron Associates on a 65% basis to enable comparison with revenue reported in the financial statements. (g) Simandou production represents crushed ore at mine gate in wet metric tonnne. Final crushing initially will be undertaken in China. (h) Represents the Rio Tinto equity share of SimFer Jersey (53% owned by Rio Tinto), which owns 85% of the SimFer mine (Blocks 3&4). Rio Tinto | Fourth quarter operations review 25
Rio Tinto share of production Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 LITHIUM Production ('000 tonnes) Lithium carbonate (a) NA 12 11 11 14 NA 49 Lithium hydroxide 100 % NA 4 5 6 5 NA 21 Spodumene 100 % NA 34 0 0 0 NA 34 Other lithium specialities (LCE) 100 % NA 1 1 2 1 NA 6 Total lithium carbonate equivalent (LCE) production (b) NA 17 (c) 12 13 15 NA 57 (a) Lithium carbonate quantities reflect Rio Tinto’s 66.5% ownership in Olaroz, 100% ownership in Fenix (b) The lithium value chain is vertically integrated and as a result production volumes are not additive. Lithium Carbonate Equivalent (LCE) is derived from volumes of lithium carbonate, lithium chloride, and spodumene concentrate. These compounds are used as feedstock in downstream production. (c) Full first quarter lithium carbonate equivalent production from Arcadium was 17kt (20kt on a 100% basis) of which 6kt was produced since completion of the acquisition in March (7kt on a 100% basis). Full first quarter lithium carbonate equivalent shipments from Arcadium was 12kt (15kt on a 100% basis) of which 4kt was shipped since completion of the acquisition in March (5kt on a 100% basis). MOLYBDENUM Mine production ('000 tonnes) (a) Bingham Canyon 100 % 0.8 1.0 1.1 1.3 1.7 2.6 5.1 (a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets. SALT Production ('000 tonnes) Dampier Salt (a) 68 % 1,347 836 1,375 1,197 1,342 5,823 4,750 (a) In December 2024, we completed the sale of Dampier Salt Limited’s Lake MacLeod operation to Leichhardt Industrial Group. Following this divestment, we continue to operate solar salt sites at Dampier and Port Hedland. SILVER Metal in concentrates production ('000 tonnes) (a) Bingham Canyon 100 % 377 357 539 282 556 1,484 1,734 Escondida 30 % 486 536 572 583 653 1,813 2,343 Oyu Tolgoi 66 % 281 266 363 369 441 940 1,439 Rio Tinto total mine production 1,144 1,159 1,474 1,233 1,650 4,236 5,516 Refined production ('000 ounces) Kennecott (b) 100 % 766 635 509 254 439 2,314 1,838 (a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets. (b) We continue to process third party concentrate to optimise smelter utilisation, including 4 thousand tonnes of cathode produced from purchased concentrate in Q4 2025 (39 thousand tonnes for full year 2025). Purchased and tolled copper concentrates are excluded from reported production figures and guidance. Sales of cathodes produced from purchased concentrate are included in reported revenues. Rio Tinto | Fourth quarter operations review 26
Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 TITANIUM DIOXIDE SLAG Production ('000 tonnes) Rio Tinto Iron & Titanium (a) 100 % 235 223 269 261 222 990 975 (a) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74% interest in Richards Bay Minerals (RBM). Production figures are sometimes more precise than the rounded numbers shown, hence small differences may result between the total of the quarter figures and the year to date figures. Rio Tinto percentage interest shown above is at 31 December 2025. Rio Tinto | Fourth quarter operations review 27
Rio Tinto operational data Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 ALUMINA Smelter Grade Alumina - Aluminium Group Alumina production ('000 tonnes) Australia Queensland Alumina Refinery - Queensland 80 % 921 856 874 871 887 3,384 3,488 Yarwun refinery - Queensland 100 % 782 765 653 743 781 2,762 2,943 Brazil São Luis (Alumar) refinery 10 % 967 901 926 984 984 3,687 3,796 Canada Jonquière (Vaudreuil) refinery - Quebec (a) 100 % 350 355 340 323 351 1,353 1,370 (a) Jonquière’s (Vaudreuil’s) production shows smelter grade alumina only and excludes hydrate produced and used for specialty alumina. Speciality Alumina - Aluminium Group Speciality alumina production ('000 tonnes) Canada Jonquière (Vaudreuil) plant – Quebec 100 % 26 25 30 26 29 111 110 Rio Tinto percentage interest shown above is at 31 December 2025. The data represents production and sales on a 100% basis unless otherwise stated. Rio Tinto | Fourth quarter operations review 28
Rio Tinto operational data Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 ALUMINIUM Primary Aluminium Primary aluminium production ('000 tonnes) Australia Bell Bay smelter - Tasmania 100 % 47 46 48 49 48 187 190 Boyne Island smelter - Queensland (a) 74 % 128 125 125 127 127 507 504 Tomago smelter - New South Wales 52 % 149 140 141 145 148 587 574 Canada Alma smelter - Quebec 100 % 122 119 120 122 123 483 485 Alouette (Sept-Îles) smelter - Quebec 40 % 159 155 154 149 158 632 616 Arvida smelter - Quebec 100 % 37 36 36 34 24 153 130 Arvida AP60 smelter - Quebec 100 % 15 15 15 15 16 61 60 Bécancour smelter - Quebec 25 % 120 113 120 118 119 473 470 Grande-Baie smelter - Quebec 100 % 58 56 56 58 58 229 229 Kitimat smelter - British Columbia 100 % 102 100 102 103 101 419 406 Laterrière smelter - Quebec 100 % 64 62 62 64 63 252 251 Iceland ISAL (Reykjavik) smelter 100 % 51 48 51 51 52 202 203 New Zealand Tiwai Point smelter (b) 100 % 63 74 75 82 83 290 315 Oman Sohar smelter 20 % 101 99 101 101 100 399 400 Recycled Aluminium Recycled aluminium production ('000 tonnes) Matalco 50 % 116 132 147 135 124 528 538 (a) On 1 November 2024, Rio Tinto’s ownership interest in Boyne Smelters Limited (BSL) increased from 71.04% to 73.5%. Production is reported including this change from 1 November 2024. (b) On 1 November 2024, Rio Tinto’s ownership interest in Tiwai Point Smelter (NZAS) increased from 79.36% to 100%. Production is reported including this change from 1 November 2024. Rio Tinto percentage interest shown above is at 31 December 2025. The data represents production and sales on a 100% basis unless otherwise stated. Rio Tinto | Fourth quarter operations review 29
Rio Tinto operational data Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 BAUXITE Bauxite production ('000 tonnes) Australia Gove mine - Northern Territory 100 % 3,372 3,141 3,303 3,244 3,040 12,721 12,729 Weipa mine - Queensland 100 % 9,846 9,017 9,637 10,788 10,021 37,078 39,464 Brazil Porto Trombetas (MRN) mine 22 % 2,831 2,357 3,071 3,134 2,997 11,523 11,560 Guinea Sangaredi mine (a) 23 % 3,491 5,089 4,506 3,712 3,725 14,043 17,032 Rio Tinto share of bauxite shipments Share of total bauxite shipments ('000 tonnes) 15,513 14,390 15,670 16,396 15,102 58,916 61,559 Share of third party bauxite shipments ('000 tonnes) 10,627 9,807 11,147 11,600 10,532 40,935 43,087 (a) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits from 45.0% of production. Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 BORATES US Borates ('000 tonnes) (a) 100 % 132 117 132 128 124 504 502 (a) Production is expressed as B2O3 content. Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 COPPER & GOLD Escondida 30 % Chile Sulphide ore to concentrator ('000 tonnes) 35,293 32,889 36,490 36,721 35,628 133,811 141,728 Average copper grade (%) 1.06 1.09 0.95 0.94 0.91 0.99 0.97 Contained copper ('000 tonnes) 309.8 295.6 291.0 294.2 279.7 1,097.8 1,160.5 Contained gold ('000 ounces) 37.3 44.5 40.3 35.3 31.9 168.6 152.1 Contained silver ('000 ounces) 1,619 1,787 1,906 1,942 2,176 6,042 7,811 Recoverable copper in ore stacked for leaching ('000 tonnes) (a) 39.5 33.5 30.3 28.1 20.0 97.9 111.9 Refined production from leach plants: Copper cathode production ('000 tonnes) 44.4 45.2 48.7 46.5 46.7 183.6 187.1 Sales of metals: Copper in concentrates ('000 tonnes) (b) 275 309 286 258 278 1,013 1,131 Copper cathode ('000 tonnes) 43 47 53 38 50 180 188 Gold ('000 ounces) (b) 37 45 40 35 32 169 152 Silver ('000 ounces) (b) 1,619 1,787 1,906 1,942 2,176 6,042 7,811 (a) The calculation of copper in material mined for leaching is based on ore stacked at the leach pad. (b) Payable metals in concentrates Rio Tinto percentage interest shown above is at 31 December 2025. The data represents production and sales on a 100% basis unless otherwise stated. Rio Tinto | Fourth quarter operations review 30
Rio Tinto operational data Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 COPPER & GOLD (continued) Kennecott Bingham Canyon mine 100 % Utah, US Ore treated ('000 tonnes) 10,487 9,339 10,630 5,928 11,249 38,164 37,146 Average ore grade: Copper (%) 0.35 0.35 0.45 0.37 0.41 0.37 0.40 Gold (g/t) 0.12 0.14 0.17 0.16 0.18 0.12 0.16 Silver (g/t) 1.78 1.81 2.21 2.11 2.31 1.88 2.12 Molybdenum (%) 0.020 0.029 0.031 0.047 0.027 0.020 0.032 Copper concentrates produced ('000 tonnes) 144 131 175 75 162 527 544 Average concentrate grade (% Cu) 21.6 21.0 23.3 24.6 23.2 23.3 22.9 Production of metals in copper concentrates: Copper ('000 tonnes) (a) 31.2 27.5 40.7 18.5 38.4 123.4 125.1 Gold ('000 ounces) 24.0 24.7 36.5 19.0 37.6 95.2 117.8 Silver ('000 ounces) 377 357 539 282 556 1,484 1,734 Molybdenum concentrates produced ('000 tonnes): 2.2 2.4 2.7 3.3 4.2 6.5 12.6 Molybdenum in concentrates ('000 tonnes) 0.8 1.0 1.1 1.3 1.7 2.6 5.1 Kennecott smelter & refinery 100 % Copper concentrates smelted ('000 tonnes) 187 163 123 131 194 741 611 Copper anodes produced ('000 tonnes) (b) 43.2 36.2 33.6 27.8 37.9 197.2 135.4 Production of refined metal: Copper ('000 tonnes) (c) 55.4 42.3 39.8 13.0 38.4 193.2 133.6 Gold ('000 ounces) (d) 43.1 34.0 32.1 19.4 31.3 143.8 116.7 Silver ('000 ounces) (d) 766 635 509 254 439 2,314 1,838 Sales of refined metal: Copper ('000 tonnes) (c) 52.1 40.7 41.7 10.2 41.9 192.5 134.6 Gold ('000 ounces) 33.2 33.6 30.8 17.7 29.7 138.6 111.9 Silver ('000 ounces) 611 625 500 230 427 2,195.4 1,782.1 (a) Includes a small amount of copper in precipitates. (b) New metal excluding recycled material. (c) We continue to process third party concentrate to optimise smelter utilisation, including 4 thousand tonnes of cathode produced from purchased concentrate in Q4 2025 (39 thousand tonnes for full year 2025). Purchased and tolled copper concentrates are excluded from reported production figures and guidance. Sales of cathodes produced from purchased concentrate are included in reported revenues. (d) Includes gold and silver in intermediate products. Rio Tinto percentage interest shown above is at 31 December 2025. The data represents production and sales on a 100% basis unless otherwise stated. Rio Tinto | Fourth quarter operations review 31
Rio Tinto operational data Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 COPPER & GOLD (continued) Oyu Tolgoi mine 66 % Mongolia Ore Treated ('000 tonnes) - Open Pit 8,881 7,469 6,836 7,282 7,926 34,528 29,514 Ore Treated ('000 tonnes) - Underground 2,144 2,434 3,198 2,870 3,406 6,510 11,908 Ore Treated ('000 tonnes) - Total 11,025 9,903 10,034 10,153 11,332 41,037 41,422 Average mill head grades: Open Pit Copper (%) 0.43 0.42 0.47 0.54 0.55 0.39 0.50 Gold (g/t) 0.24 0.25 0.37 0.58 0.62 0.21 0.46 Silver (g/t) 1.08 1.02 1.07 1.13 1.16 1.11 1.09 Underground Copper (%) 1.96 2.03 2.13 2.16 2.20 1.94 2.14 Gold (g/t) 0.55 0.55 0.61 0.63 0.59 0.56 0.59 Silver (g/t) 4.59 4.47 4.75 4.87 4.94 4.40 4.77 Total Copper (%) 0.73 0.82 1.00 1.00 1.05 0.64 0.97 Gold (g/t) 0.30 0.32 0.44 0.59 0.61 0.26 0.50 Silver (g/t) 1.77 1.87 2.24 2.19 2.29 1.63 2.15 Copper concentrates produced ('000 tonnes) 307.3 303.4 381.6 394.9 464.3 994.0 1,544.1 Average concentrate grade (% Cu) 21.6 21.5 22.7 22.6 22.4 21.6 22.4 Production of metals in concentrates: Copper in concentrates ('000 tonnes) 66.3 65.2 86.8 89.2 103.9 215.0 345.2 Gold in concentrates ('000 ounces) 66.3 61.5 97.5 138.2 158.6 206.4 455.9 Silver in concentrates ('000 ounces) 426 403 550 559 668 1,424 2,180 Sales of metals in concentrates (a): Copper in concentrates ('000 tonnes) 62.6 57.7 86.4 80.9 92.4 198.2 317.4 Gold in concentrates ('000 ounces) 63.6 55.8 92.8 121.2 144.2 190.5 414.1 Silver in concentrates ('000 ounces) 382 338 514 474 557 1,244 1,883.4 (a) Sales of metals in concentrates refer to the payable metals in concentrates collected by customers from the Mongolia/China border. Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 DIAMONDS Diavik Diamonds 100 % Northwest Territories, Canada Ore processed ('000 tonnes) 330 394 511 515 489 1,267 1,908 Diamonds recovered ('000 carats) 775 942 1,238 1,137 1,112 2,759 4,429 Rio Tinto percentage interest shown above is at 31 December 2025. The data represents production and sales on a 100% basis unless otherwise stated. Rio Tinto | Fourth quarter operations review 32
Rio Tinto operational data Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 IRON ORE Rio Tinto Iron Ore Western Australia Pilbara Operations Saleable iron ore production ('000 tonnes) Hamersley mines (a) 59,656 49,637 57,422 58,574 63,972 224,816 229,605 Hope Downs 50 % 10,200 7,216 10,413 9,484 9,639 41,956 36,751 Robe River - Pannawonica (Mesas J and A) 53 % 8,583 6,676 7,471 6,769 7,693 31,742 28,610 Robe River - West Angelas 53 % 8,048 6,242 8,437 9,276 8,370 29,457 32,326 Total production ('000 tonnes) 86,486 69,771 83,743 84,104 89,674 327,972 327,292 Breakdown of total production: Pilbara Blend and SP10 Lump (b) 27,273 22,452 27,374 28,545 29,678 101,679 108,049 Pilbara Blend and SP10 Fines (b) 40,228 31,334 37,954 37,917 40,606 149,370 147,811 Robe Valley Lump 3,444 2,899 3,169 3,138 3,155 12,062 12,361 Robe Valley Fines 5,139 3,778 4,303 3,631 4,538 19,680 16,249 Yandicoogina Fines (HIY) 10,402 9,309 10,944 10,873 11,697 45,181 42,822 Breakdown of total shipments: Pilbara Blend Lump 16,223 11,997 12,967 21,142 21,362 65,188 67,467 Pilbara Blend Fines 29,042 22,434 25,849 38,477 39,448 120,723 126,208 Robe Valley Lump 2,846 2,187 2,614 2,510 2,588 9,876 9,898 Robe Valley Fines 5,764 4,211 4,977 4,214 4,934 21,995 18,335 Yandicoogina Fines (HIY) 10,585 9,350 10,636 10,764 12,421 45,971 43,170 SP10 Lump (b) 7,567 8,806 9,216 3,643 4,720 23,110 26,385 SP10 Fines (b) 13,650 11,755 13,629 3,597 5,787 41,705 34,768 Total shipments ('000 tonnes) (c) 85,678 70,740 79,887 84,346 91,259 328,570 326,232 Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 Iron Ore Company of Canada 59 % Newfoundland & Labrador and Quebec in Canada Saleable iron ore production: Concentrates ('000 tonnes) 1,809 1,614 2,008 1,594 1,337 6,750 6,553 Pellets ('000 tonnes) 2,503 2,331 2,229 2,403 2,388 9,336 9,352 IOC Total production ('000 tonnes) 4,312 3,945 4,237 3,998 3,725 16,086 15,905 Shipments: Concentrates ('000 tonnes) 1,942 1,100 2,173 1,799 1,425 7,689 6,496 Pellets ('000 tonnes) 2,310 2,308 2,353 2,225 2,343 9,272 9,229 IOC Total Shipments ('000 tonnes) (c) 4,252 3,408 4,526 4,024 3,768 16,961 15,726 Simandou 45% (f) Simandou iron ore production ('000 tonnes) (e) 0 0 0 0 2,271 0 2,271 Simandou iron ore sales (‘000 tonnes) 0 0 0 0 0 0 0 Global Iron Ore Totals Iron Ore Production ('000 tonnes) 90,798 73,716 87,980 88,102 93,399 344,058 343,197 Iron Ore Shipments ('000 tonnes) 89,931 74,148 84,414 88,369 95,027 345,531 341,958 Iron Ore Sales ('000 tonnes) (d) 92,063 75,339 86,474 90,808 93,201 349,682 345,821 (a) Includes 100% of production from Paraburdoo, Mt Tom Price, Western Turner Syncline, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass, Channar, Gudai-Darri, Eastern Range and Western Range mines. Whilst Rio Tinto owns 54% of the Eastern Range and the Western Range mines, under the terms of the joint venture agreement, Hamersley Iron manages the operation and is obliged to purchase all mine production from the joint venture and therefore all of the production is included in Rio Tinto's share of production. (b) SP10 includes other lower grade products. (c) Shipments includes material shipped to our portside trading facility in China which may not be sold onwards in the same period. (d) Include Pilbara and IOC sales adjusted for portside trading movements and third party volumes sold. (e) Simandou production represents crushed ore at mine gate in wmt. Final crushing initially will be undertaken in China. There is 2.1wmt stockpiled ore at the Simfer mine gate. (f) Represents Rio Tinto’s equity share of SimFer Jersey (53% owned by Rio Tinto), which owns 85% of the SimFer mine (Blocks 3&4). Rio Tinto percentage interest shown above is at 31 December 2025. The data represents production and sales on a 100% basis unless otherwise stated. Rio Tinto | Fourth quarter operations review 33
Rio Tinto operational data Rio Tinto interest Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 LITHIUM Lithium production (‘000 tonnes) Lithium carbonate (a) (a) NA 15 14 14 17 NA 60 Lithium hydroxide 100 % NA 4 5 6 5 NA 21 Spodumene 100 % NA 34 0 0 0 NA 34 Other lithium specialities (LCE) 100 % NA 1 1 2 1 NA 6 Total lithium carbonate equivalent (LCE) production (b) NA 20 (c) 15 15 18 NA 68 Third party shipments (‘000 tonnes) Lithium carbonate (a) (a) NA 10 6 11 15 NA 42 Lithium hydroxide 100 % NA 3 5 5 6 NA 19 Spodumene 100 % NA 20 23 31 0 NA 73 Other lithium specialities (LCE) 100 % NA 0 1 0 0 NA 2 Total lithium carbonate equivalent shipments (‘000 LCE) NA 15 (c) 14 20 21 NA 71 (a) Lithium carbonate quantities reflect our 100% share of Olaroz shipments, of which Rio Tinto's ownership is 66.5%. (b) The lithium value chain is vertically integrated and as a result production volumes are not additive. Lithium Carbonate Equivalent (LCE) is derived from volumes of lithium carbonate, lithium chloride, and spodumene concentrate. These compounds are used as feedstock in downstream production. (c) Full first quarter lithium carbonate equivalent production from Arcadium was 17kt (20kt on a 100% basis) of which 6kt was produced since completion of the acquisition in March (7kt on a 100% basis). Full first quarter lithium carbonate equivalent shipments from Arcadium was 12kt (15kt on a 100% basis) of which 4kt was shipped since completion of the acquisition in March (5kt on a 100% basis). SALT Dampier Salt (a) 68 % Western Australia Salt production ('000 tonnes) 1,970 1,223 2,012 1,751 1,963 8,518 6,949 (a) In December 2024, we completed the sale of Dampier Salt Limited’s Lake MacLeod operation to Leichhardt Industrial Group. Following this divestment, we continue to operate solar salt sites at Dampier and Port Hedland. TITANIUM DIOXIDE SLAG Rio Tinto Iron & Titanium 100 % Canada and South Africa (Rio Tinto share) (a) Titanium dioxide slag ('000 tonnes) 235 223 269 261 222 990 975 (a) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74% interest in Richards Bay Minerals' production. Ilmenite mined in Madagascar is being processed in Canada. Rio Tinto percentage interest shown above is at 31 December 2025. The data represents production and sales on a 100% basis unless otherwise stated. Rio Tinto | Fourth quarter operations review 34
FAQ
How did Rio Tinto (RIO) perform operationally in full-year 2025?
In 2025, Rio Tinto increased copper equivalent production by 8% year-on-year, with consolidated copper output up 11% to 883 kt. Bauxite production reached a record 62.4 Mt, aluminium rose 3% to 3.38 Mt and diamonds production increased 61% to 4,429 thousand carats.
What were Rio Tinto (RIO) iron ore production and shipments in 2025?
Pilbara iron ore production on a 100% basis was 327.3 Mt in 2025, stable versus 2024, while Pilbara shipments were 326.2 Mt, down 1% year-on-year after recovering most cyclone-related losses. Q4 2025 saw record quarterly production of 89.7 Mt and shipments of 91.3 Mt on a 100% basis.
How is Rio Tinto’s copper business performing, including Oyu Tolgoi?
Consolidated copper production rose to 883 kt in 2025, up 11% from 2024. Oyu Tolgoi delivered record quarterly copper output in Q4 2025, with full-year copper production there up 61%, supported by the completed underground project and higher grades. The company maintains a target of around 500 thousand tonnes per year from Oyu Tolgoi between 2028 and 2036.
What are Rio Tinto’s 2026 production guidance ranges?
For 2026, Rio Tinto guides total iron ore sales of 343–366 Mt, including Pilbara sales of 323–338 Mt and Simandou sales of 5–10 Mt on a 100% basis. Consolidated copper production is guided at 800–870 kt, bauxite at 58–61 Mt, alumina at 7.6–8.0 Mt, aluminium at 3.25–3.45 Mt and lithium (LCE) at 61–64 kt.
How did Rio Tinto’s lithium operations perform in 2025?
In 2025, Rio Tinto produced 57 kt of lithium carbonate equivalent on its share basis. Q4 2025 saw strong performance, with record quarterly lithium carbonate output at Fenix and Olaroz and increased lithium hydroxide production as Bessemer City achieved record quarterly levels.
What happened to Rio Tinto’s exploration and evaluation spending in 2025?
Pre-tax and pre-divestment exploration and evaluation expenditure charged to profit and loss was
Did Rio Tinto (RIO) change guidance for Iron & Titanium and Borates?
Rio Tinto is advancing strategic reviews for Iron & Titanium and Borates and will no longer provide production guidance for these businesses while the process is underway. Operations are continuing with a focus on safety, profitability and meeting customer commitments.
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