120 Collins Street Melbourne 3000 Australia Postal Address: GPO Box 384D Melbourne 3001 Australia T +61 (0) 3 9283 3333 F +61 (0) 3 9283 3707 ASX Market Announcements Australian Securities Exchange SYDNEY NSW 2000 13 September 2012 Dear Sir, Attached is a presentation given by Alan Davies, Chief executive, Rio Tinto Diamonds & Minerals, Bruce Cox, Managing director, Rio Tinto Diamonds, Jean-Francois Turgeon, Managing director, Rio Tinto Iron & Titanium and Xiaoling Liu, President and Chief executive, Rio Tinto Minerals, as part of a financial community visit in Montreal, Canada. Yours faithfully, Stephen Consedine Company Secretary Registered in Australia Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia ABN 96 004 458 404 Rio Tinto Diamonds & Minerals Fuelling consumer-driven economic growth Alan Davies Chief executive 12 September 2012 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 presentation includes forward-looking statements. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding Rio Tinto’s financial position, 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. 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. Among the important factors that could cause Rio Tinto’s actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, levels of actual production during any period, levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation and such other risk factors identified in Rio Tinto's 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 the SEC. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this presentation. Nothing in this presentation 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. ©2012 Rio Tinto, All Rights Reserved Slide 2 Outline • Safety performance • Introduction to our global operations • Macro-economic trends • Financial performance • A well positioned portfolio • Reputation built on sustainable stewardship • Leadership in technology Boron, California ©2012 Rio Tinto, All Rights Reserved Slide 3 Safety is our core value Diamonds & Minerals1 rolling injury rates, 2002 - 2012 2.2 2.0 1.8 AIFR2 1.6 1.4 1.2 1.0 0.8 LTIFR3 0.6 0.4 0.2 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 1. Data for RTIT, RTM, Diamonds, DSL & Simandou. 2. AIFR (all injury frequency rate) includes Lost Day Injuries, Restricted Work Day Injuries and Medical Treatment Cases per 200,000 hours worked which consists of employees, contractors and covers operations and all projects. 3. LTIFR (lost time injury frequency rate) includes Lost Day Injuries, Restricted Work Day Injuries and Fatal Injuries which consists of employees, contractors and covers operations and all projects. Source: Rio Tinto ©2012 Rio Tinto, All Rights Reserved Slide 4 A global portfolio of large, low cost, expandable assets Product Operations Projects Borates Boron (USA) Jadar (Serbia) RBM (South Africa) Titanium Mutumba RTFT (Canada) dioxide (Mozambique) QMM (Madagascar) Dampier (Australia) Salt Port Hedland (Australia) Lake MacLeod (Australia) Potash JV project (Canada) Iron ore Simandou (Guinea) Diavik (Canada) Diamonds Argyle (Australia) Bunder (India) Murowa (Zimbabwe) ©2012 Rio Tinto, All Rights Reserved Slide 5 Demand growth strength in later stages of economic development Inflection point not yet reached for many of our products Percentage of saturation level* Titanium dioxide Nickel Titanium Dioxide Crude steel Aluminium Copper Diamonds Borates 2,000 10,000 18,000 26,000 34,000 42,000 50,000 58,000 World GDP/capita Timeframe 20102020 2030 2040 2050 2000 US$ PPP *Saturation level – point at which consumption per capita does not increase with income levels Source: Rio Tinto ©2012 Rio Tinto, All Rights Reserved Slide 6 Robust macro-trends in China is driving wealth and a trend towards consumer driven growth Real GDP RMB trillions CAGR 2010-25 CAGR 2025-40 Percent Percent Urban 153 7.1 3.7 Rural 132 111 88 8.4 4.3 67 98 48 93 96 19 32 90 80 86 72 75 0.4 -6.1 2005 10 15 20 25 30 35 2040 Real GDP per capita RMB thousands CAGR 2010-25 CAGR 2025-40 Percent Percent 6.8 3.9 2005 2010 2015 2020 2025 2030 2035 2040 Source: Rio Tinto ©2012 Rio Tinto, All Rights Reserved Slide 7 Increasing Chinese wealth will underpin long term fundamentals for our products Number of urban households by income bracket1 Thousands CAGR CAGR 2010-25 2025-40 Percent Percent 190 235 291 339 385 426 463 492 3.3 1.7 19.2 9.9 Affluent Middle class Lower income 4.4 -3.3 -4.5 -1.1 2005 10 15 20 25 30 35 2040 1. Brackets are defined by household annual income as high income >171K RMB; middle income 45-171K RMB; lower income <45K RMB Source: McKinsey ©2012 Rio Tinto, All Rights Reserved Slide 8 Beyond China, the equivalent of today’s population will be living in cities by 2050 Distribution of the world population, 1980 – 2050 Billions (%) urban as a percentage of total population Source: United Nations ©2012 Rio Tinto, All Rights Reserved Slide 9 Portfolio of industry leading businesses Titanium dioxide Minerals Diamonds Salt • #1 producer of TiO2 • #2 producer of • #3 rough diamond • #1 exporter of solar feedstocks refined borates producer globally salt • #2 producer of zircon • Tier one mine in • Leader in the • JV between Rio • Mines in South California with production of Tinto (68%), Africa, Canada, expansion coloured diamonds Marubeni (22%), Madagascar with optionality Sojitz (10%) significant expansion • Mines in Australia, potential • Jadar lithium-borate Canada, Zimbabwe • 3 mines in Western project in Serbia Australia • Portfolio optimised • Project in India through proprietary • Potash Exploration production JV in Saskatchewan • Strategic review technology and underway expertise ©2012 Rio Tinto, All Rights Reserved Slide 10 Strong fundamentals drive price, earnings growth Diamonds and Minerals1 results US$ millions 600 • Strong earnings growth in titanium dioxide will continue as supply tightens and long term priced contracts unwind 500 • Sustained price growth for borates expected 400 • Doubled stake in RBM to drive further earnings growth 300 • Strong long term fundamentals for diamonds – seeking to extract more value through different ownership structure 200 100 0 H1 2010 H2 2010 H1 2011 H2 2011 H1 2012 EBITDA Earnings 1. Includes RTIT, RTM, RTD, DSL, Talc (until disposal in mid 2011). Source: Rio Tinto ©2012 Rio Tinto, All Rights Reserved Slide 11 RTIT is well positioned to capture market growth TiO demand development 2 • Future wealth and demographic profiles Million tonnes, pigment (LHS), crude steel (RHS) translate to an unprecedented surge in demand for TiO2 in pigment • Little investment in new mine and smelting capacity in past two decades • Continuing to replace long-term price contracts, increasing exposure to current market prices • Studies to expand mining and refining capacity by up to 50% launched in May Committed supply and demand growth 2012 and aims to capture more than 20% of kmt TiO feedstock 2 demand growth out to 2020 10,000 9,000 Expected TIO4 supply • Strong resource position to capture further contribution 8,000 demand upside 7,000 • Industry leader in reliability, furnace life, 6,000 energy efficiency and scale 5,000 2005 2007 2009 2011 2013 2015 2017 2019 Online supply Committed projects Demand Source: Rio Tinto, World Steel Association ©2012 Rio Tinto, All Rights Reserved Slide 12 Doubling our stake in the world class RBM operation • Rio Tinto doubled holdings in Richards Bay Minerals • Purchase price paid on completion of $1.7 billion; acquisition price at 1 February 2012 effective date was $1.9 billion and includes: ̶ $0.6b for BHP’s 37% equity interest ̶ $1b for BHPB’s 50% shareholder financing interests ̶ $0.3b for BHPB royalty stream • Demand for feedstocks is expected to grow Richards Bay Minerals strongly, needing the equivalent of a new Ownership structure operation