Delivering Long-Term Shareholder Value

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Delivering Long-Term Shareholder

Value

9 October 2014, Perth

Cautionary statement

This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (“Rio Tinto”) and consisting of the slides for a presentation concerning Rio Tinto. By reviewing/attending this presentation you agree to be bound by the following conditions.

Forward-looking statements

This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Rio Tinto Group. These statements are forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, and Section 21E of the US Securities Exchange Act of 1934. The words “intend”, “aim”, “project”, “anticipate”, “estimate”, “plan”, “believes”, “expects”, “may”, “should”, “will”, “target”, “set to” or similar expressions, commonly identify such forward-looking statements.

Examples of forward-looking statements include those regarding estimated ore reserves, anticipated production or construction dates, costs, outputs and productive lives of assets or similar factors. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors set forth in this presentation that are beyond the Rio Tinto Group’s control. For example, future ore reserves will be based in part on market prices that may vary significantly from current levels. These may materially affect the timing and feasibility of particular developments. Other factors include the ability to produce and transport products profitably, demand for our products, changes to the assumptions regarding the recoverable value of our tangible and intangible assets, the effect of foreign currency exchange rates on market prices and operating costs, and activities by governmental authorities, such as changes in taxation or regulation, and political uncertainty.

In light of these risks, uncertainties and assumptions, actual results could be materially different from projected future results expressed or implied by these forward-looking statements which speak only as to the date of this presentation. Except as required by applicable regulations or by law, the Rio Tinto Group does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events. The Group cannot guarantee that its forward-forward-looking statements will not differ materially from actual results.

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Competent Persons Consent Statements

Mineral Resources and Ore Reserves

Mineral Resources and Ore Reserves presented in this document are sourced from Rio Tinto Annual Reports from 2001 through to 2013.

Exploration Targets

The information in this report that relates to the Pilbara Exploration Targets is prepared by Mr Bruce Sommerville who is a Fellow of the Australian Institute of Mining and Metallurgy. Mr Sommerville is a full-time employee of Rio Tinto Iron Ore and has experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which they have undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’. Mr Sommerville consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

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Extending our competitive advantage

Driving industry-leading margins supported by automation, innovation and technology

Continued proven delivery of world-class projects

Rio Tinto is maximising sustainable shareholder value World-class assets, seamless

supply chain, unencumbered optionality

Product blend & specialist marketing

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Brownfields mine development – one of many

examples of value maximisation

• Maximising value is part of our DNA • The 360Mt/a expansion is not

tonnage but value-driven

• Chase outcomes that offer greatest value, for example protection of premium Pilbara Blend products • ~40Mt/a of brownfield mine projects

approved and in implementation • Average mine production capital

intensity less than $15/t

West Angelas Stacker 3

• China is forecast to reach ~1Bt of crude steel production by around 2030

• Driven by exports of manufactured goods and replacement demand

• Iron ore demand growth will be driven by emerging economies which have more than 80% of the world’s population

• Other contestable iron ore markets likely to develop over the coming decades including India, the Middle East and the ASEAN countries

China’s crude steel production forecast (Mt/a)

Source: Rio Tinto

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Long-term iron ore fundamentals remain robust

0 200 400 600 800 1,000 1,200 2010 2015 2020 2025 2030 0 500 1,000 1,500 2,000 2,500 3,000 3,500 2010 2015 2020 2025 2030

China JKT EU27 India ASEAN Middle East Other

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Uniquely positioned to capture value

enhancing growth

• Industry supply response to date commensurate with attractive fundamentals • Fourth quartile tonnes are now being displaced

• Rio Tinto’s resource, cost and market position drive sustainable long-term value from production growth

• Pilbara expansion delivers compelling incremental and absolute value

Source: Rio Tinto, Wood Mackenzie

Note: Includes shipping and sustaining capital expenditure and is adjusted for inflation and FX. 2020 cost curve based on 2014 real data

2010 Industry cost curve 2020 Industry cost curve

0 50 100 150 200 0 500 1000 1500 2000 RTIO Pilbara Mtpa $/wmt CFR Cumula 2 Mt/a 2 0 50 100 150 200 0 500 1000 1500 2000 RTIO Pilbara $/wmt CFR Mt/a

• Our low cost advantage has been sustained over many years

• H1 2014 cash unit cost of US$20.40/t (11% lower than H1 2013)

• Maintain consistent and attractive margins (66% in H1 2014)

• An embedded culture of cost discipline • A ‘cash generation office’ active since

the 2008, drives cost and productivity focus

• Over 200 individually tracked cost reduction and productivity improvement projects

• Sustainable position as the most profitable producer in the Pilbara

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Industry-leading cash costs and margins

RTIO- Pilbara cash unit cost / EBITDA margin

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Pilbara longevity through leading resources and

reserves

50.0 100.0 150.0 200.0 250.0 300.0 0 2000 4000 6000 8000 10000 12000 14000 16000 18000 20000

Proven Probable Measured

Indicated Inferred Production

1_{Mineral Resource and Ore Reserves are reported in dry metric tonnes, and are}

reported on a 100% basis, Mineral Resources are reported exclusive of Ore Reserves. Details of the Mineral Resources and Ore Reserves from 2001 to 2013 are found in the Rio Tinto Annual Reports

Pilbara resources, reserves and production1 • Million tonnes (Dry)

Resource Development Drilling

• Metres 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9

Actual Drill (m) Planned Drill (m)

Exploration Targets2 • Billion tonnes (Dry)

2 _{Exploration Targets. Rio Tinto Iron Ore has extensive ground holding within the}

Pilbara which has been broadly assessed by various exploration methods including mapping, geophysical sensing and drill hole sampling. There has been insufficient exploration and analysis to estimate a Mineral Resource and that the potential quantity and quality is conceptual in nature and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Grades range from 50% Fe to 62% Fe.

0 10 20 30 40 50 2007 2008 2009 2010 2011 2013 Exploration Target (±50%)

• 75% complete

• All 360Mt/a marine and wharf works complete

• Port B shiploader, stacker and reclaimer commissioned early • First ore through car dumper 7

ahead of schedule

• All rail works complete, including AutoHaul® wayside works

• First autonomous AutoHaul® journey complete

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360Mt/a infrastructure on time and budget

Cape Lambert 360Mt/a shiploader first ore Cape Lambert car dumpers 5, 6 & 7

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Operations Centre integral to capturing

innovation benefits

• Value derived from real-time optimisation of production, maintenance and logistics:

− Revised car dumper timing and additional consist provide extra ~4Mt over 2014 and 2015

− OC optimises the system to ensure no lost tonnes from major conveyor belt rip

• Change in mindset and culture to ensure continued innovation • Rio Tinto continues leading-edge

advantage with key partners

Automation

and autonomy Big data _and

analysis Big data and analysis Smart people, smart operations Smart people, smart operations Mine of the Future™

Control room, Operations Centre

Iron ore supply and pricing

12 70 90 110 130 150 170 190

Oct-10 Jun-11 Feb-12 Oct-12 Jun-13 Feb-14 Oct-14 Jun-15 Spot Historical Forward (SGX)

Iron ore spot and forward prices

($/dmt, CFR China)

Annualised global crude steel production

(Mt)

• Iron ore prices have declined throughout 2014 due to increased supply

• Market mechanisms are playing out with ~ 125Mt of high cost global iron ore supply likely to exit the market in 2014

• Crude steel production continues to run at healthy levels

• We continue to witness consistently high demand for Rio Tinto iron ore products across varied market conditions

Source: Platts, SGX 0 200 400 600 800 1,000 2003 2004 2006 2008 2009 2011 2013 China Japan+Korea+Taiwan N.America Rest of World EU EU (15)

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• Iron ore demand growth is inextricably linked to the development pathway of emerging economies where more than 80% of the world’s population resides • China’s growth story is set to continue

albeit at more modest rates than witnessed over the past decade • As China continues to develop, less

steel will be required for domestic stock accumulation - particularly in buildings and infrastructure - with more steel required for stock upgrading and exports of manufactured goods

• China is forecast to reach ~1Bt of crude steel production by around 2030

China’s crude steel production forecasts

(Mt/a)

Source: Rio Tinto

Long-term fundamentals for Chinese iron ore

demand remain strong

0 200 400 600 800 1,000 1,200 2010 2015 2020 2025 2030

For exported goods

Replacement domestic demand New domestic demand

Pilbara Blend products are the basis of our

expansions

14 Product Strengths H1 2014 % Pilbara Blend Fines (61.5% Fe, 8.5% H₂O) • Consistent quality

• The most marketed iron ore product globally • Base load sinter blend in Asian markets

• ~45%

Pilbara Blend Lump

(62.5% Fe, 4% H2O)

• Avoids the costs of sintering which will increase with increasing emissions legislation

• ~25%

HIY Fines

(58.5% Fe, 9% H2O)

• Ideal chemical composition for the Asian sinter blends, with low alumina and phosphorus

• Coarse sizing aids sinter granulation

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The integration of marketing and operations

maximises portfolio value

• Product offering and customer segmentation drives our mine

development and production planning • RTIO Technical Marketing works with

customers, researchers and

universities to maximise the value-in-use of our products

• Pilbara Blends are the most marketed and commercially liquid ores in the market

• Reported spot transactions highlight that Pilbara Blend Fines consistently achieve a premium over the Platts 62% Fe index 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

China Japan Korea, Taiwan Atlantic Other

PBF PBL RRF RRL HIY Conc. Pellets

H1 2014 products by market

%

Marketing strategies which maximise value

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• Rio Tinto has built a reputation for consistent quality and supply which supports our marketing strategy • Rio Tinto’s customer portfolio is

focused on long term contracts with large mills that have substantial offtake capability

• Of our 2014 volume:

• ~85% will be sold under term contracts

• ~15% uncontracted for sale into the spot market, in support of liquid and transparent indices

2014 Pilbara offtake agreements by pricing mechanisms Monthly 55% Q Lagged 25% Q Actual 5% Spot 15%

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Strong relationships enable supply chain

optimisation

0 50 100 150 200 1 9 6 6 1 9 6 8 1 9 7 0 1 9 7 2 1 9 7 4 1 9 7 6 1 9 7 8 1 9 8 0 1 9 8 2 1 9 8 4 1 9 8 6 1 9 8 8 1 9 9 0 1 9 9 2 1 9 9 4 1 9 9 6 1 9 9 8 2 0 0 0 2 0 0 2 2 0 0 4 2 0 0 6 2 0 0 8 2 0 1 0 2 0 1 2

Pilbara shipments to Japan and China (Mt)

Shipments on a 100% basis and includes all Pilbara operations controlled by Rio Tinto.

• Since 1966 Rio Tinto has shipped over 3Bt to Japan and China

• Continuing partnerships with Japan, including the Robe River joint venture, remain central to our business

• The Channar Joint Venture was

established in 1987 and has delivered over 200Mt to China

• The Bao-HI Joint Venture was

established in 2002 and has delivered over 130Mt to China

• Partnerships allow Rio Tinto to improve sales processes and lower transaction and administration costs

1 billionth tonne shipped to China

1 billionth tonne shipped to Japan

Take-aways

• Iron ore market fundamentals remain robust

• Rio Tinto’s resource, integrated logistics and marketing drives sustainable long-term value

• Rio Tinto will protect margins by remaining the world’s lowest cost major producer • Commitment to technology and innovation is key to Rio Tinto’s competitive edge • Pilbara Blend delivers sustained premiums and creates additional value

• Pilbara 360Mt/a delivers compelling and resilient project economics

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Operations Centre

Investor visit 9 October 2014

• Concept originated through RTIO’s Industry Leadership Programme.

• Business context: growth, volatility, complexity - needed a more responsive organisation.

• Decision made to establish an integrated planning function and an Operations Centre.

Control Room

OB1

OB2

A strategically important project

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Utilities

Mines Plants Rail Ports

Centralised Control Room

Integrated Planning and Scheduling Whole of System Visibility

Improved access to information Collaboration Operations Support

Asset Mgt

Mining Processing Quality Logistics Whole of Business Planning

OPERATIONS CENTRE

Operational Excellence System Performance Better, smarter, faster

decision making Rapid Replication

Operations Centre

Optimising System Plans and Performance

BENEFITS

There are 4 key managerial functions, all with strong

linkages to Site Operations

• Continue to make operational decisions • Retain accountability for health and safety • Site knowledge and expertise

• Better, smarter faster decisions

• Focus on tonnes and quality

• Optimising the whole value chain • Local people leadership and training • Driving controller improvement & standardisation • Control Room team

dynamic/culture

• Day to day systems support

• System improvement projects

• Capital program management

Dynamic Scheduling Controllers Production Systems Next Generation

• Business process redesign

• Interface standardisation • Delivery Plan

co-ordination

• Business Improvement co-ordination

Site Operations

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Control Room layout

Mining & Plants

Ports & Dynamic

Scheduling

Rail

Control, Monitor and Optimise (Pit to Port)

The Control team has three main functions to ensure safe tonnes are delivered to our customers on time, at the right cost

• Monitor production rates and control set points

• Minimise performance loss by active communication and coordination during system outages

• Collaborate across functions and sites to provide better, faster and smarter decisions to optimise system performance

Control

Monitor

Optimise

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The Control Room has evolved over time

Control Room Stabilised

• Roles moved to Perth from the Pilbara

Multi skill & optimise

• Dynamic Constraint Utilisation, Controller Role consolidation, Brockman 4 TLO, Asset Health,

Rail Maintenance Alignment, Business Resilience, SCADA Standardisation

New Technology

• Multi-skilling of Pit & Plant roles, Control System automation, Loco GPS, Electronic Train graphing, Advanced collaborative environments, Remote Assist (MATE), Wireless Mesh

Automation

• Autonomous Drilling, Autonomous Trucks, Autonomous Trains

Future

• Next Gen, Transformation of people and processes, Big Data, Automation

Operations Centre summary

• The nerve centre of the Pilbara integrated network, seamlessly bringing it all together • Full end to end visibility means the entire system is optimised

• Comprehensive insight into system bottlenecks, improvement efforts and reduction and avoidance of costs

• Enormous future potential

Delivering Long-Term Shareholder Value