H1 2023 EBITDA Overview and Oyu Tolgoi Outlook

Copper Margins remain robust despite 10% decline in LME price Underlying EBITDA H1 2023 vs H1 2022 $m 1,534 (163) (4) (33) (47) 1,287 H1 2022 underlying EBITDA 78 (293) 10 10 Price Exchange rates Energy Inflation Flexed H1 2022 underlying EBITDA Volumes & Mix Cash costs Other¹ Rio Tinto ©2023, Rio Tinto, All Rights Reserved 1Other includes Non-cash costs and Exploration & Evaluation expense 1 1,082 H1 2023 underlying EBITDA 42

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