Further to the announcement of 8 January 2026, Rio Tinto plc and Rio Tinto Limited (together, "Rio Tinto") confirm that Rio Tinto is no longer considering a possible merger or other business combination with Glencore plc ("Glencore"), as Rio Tinto has determined that it could not reach an agreement that would deliver value to its shareholders.
Rio Tinto assessed the opportunity and came to this view through the disciplined lens set out at its Capital Markets Day in December 2025 - prioritising long-term value and delivering leading shareholder returns.
This announcement is made by Rio Tinto in accordance with Rule 2.8 of the Code. As a result of this announcement Rio Tinto will, together with any party acting in concert with it, be bound by the restrictions contained in Rule 2.8 of the Code.
Under Note 2 on Rule 2.8 of the Code, Rio Tinto and any person(s) acting in concert with it reserve the right to set aside the restrictions in Rule 2.8 in the following circumstances: (i) with the agreement of the board of Glencore; (ii) if a third party announces a firm intention to make an offer for Glencore; (iii) if Glencore announces a Rule 9 waiver proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); or (iv) if there has been a material change of circumstances (as determined by the Panel on Takeovers and Mergers).
This announcement is authorised for release to the market by Andy Hodges, Rio Tinto's Group Company Secretary.
