Rio Tinto Reports Resilient Financial Growth

Rio Tinto (LSE:RIO) (ASX:RIO):

6% CuEq production uplift YoY, delivering on strategy through focus on our four objectives

Rio Tinto Chief Executive Jakob Stausholm said: "We are delivering very resilient financial results with an improving operational performance helped by our increasingly diversified portfolio. Underlying EBITDA of $11.5 billion and operating cash flow of $6.9 billion, despite a 13% lower iron ore price, demonstrate the growing contribution from our Aluminium and Copper businesses and our Pilbara operations' strong recovery from the four cyclones in the first quarter. We are reporting underlying earnings of $4.8 billion (after taxes and government royalties of $4.8 billion).

"Our strong cash flow enables us to maintain our practice of a 50% interim payout with a $2.4 billion ordinary dividend, as we continue our disciplined investment in profitable growth while retaining a strong balance sheet.

"We are well positioned to generate value from our best-in-class project execution, together with growing demand for our products, now and over the coming decades. We remain on track to deliver strong mid-term production growth, with solid foundations in place and a diverse pipeline of options for the future."

1. Executive Summary

• We're pleased to have announced Simon Trott as Chief Executive with effect from 25 August 2025.
• Very resilient financials with stable net cash generated from operating activities of $6.9 billion and underlying EBITDA of $11.5 billion, despite a 13% lower iron ore price¹ and the impact of the cyclones in Q1, underpinned by our improving operational performance, diversifying portfolio and a rising contribution from our Aluminium and Copper businesses.
• Profit after tax attributable to owners of Rio Tinto of $4.5 billion (referred to as "net earnings" throughout this release).
• Interim ordinary dividend of $2.4 billion, a 50% payout, in line with our practice.
• Successful delivery of projects: Simandou first shipment accelerated to around November 2025, Western Range iron ore opened on time and on budget and construction commenced at Hope Downs 2 and Brockman Syncline 1 following receipt of all necessary approvals. Arcadium Lithium acquisition closed ahead of schedule in March and we enriched our lithium pipeline through two new agreements in Chile with Codelco and ENAMI².