Deutsche Bank BRICS metals and mining conference Guy Elliott, CFO 4 November 2010

Shiploader, Cape Lambert

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.

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2010 highlights • • • •

Record first half underlying earnings from higher prices and volumes Strong cash flows reduced H1 net debt to $12 billion Operations producing close to capacity Capital expenditure set to rebound in second half following $8.6 billion of project approvals to date in 2010 • Growth projects in iron ore, nickel and molybdenum • Simandou JV signed with Chalco • Further investment in Ivanhoe/Oyu Tolgoi $m

H1 2009

H1 2010

Movement

Underlying EBITDA

6,089

11,256

+85%

Underlying earnings

2,565

5,767

+125%

Cash flow from operations

5,529

9,860

+78%

Capital expenditure

2,864

1,817

-37%

Net debt

39,057

11,967

-69%

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Outstanding cash flow generation

Gearing defined as ratio of net debt to net debt plus total equity 4 November 2010

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A consistent approach to uses of cash flow

Cash from operations

Investment in value adding growth

Prudent balance sheet management

Return cash to shareholders

$8.6 billion of projects approved to date in 2010

Single A credit rating target

Interim dividend of US45c/share

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• Investment in value adding growth is top priority - $13bn capex planned for the 18 months ended 31 December 2011 • Stable investment conditions a pre-requisite • Single A rating target provides flexibility in a volatile world • Net debt $12bn at 30 June 2010 • Current rating of Moody’s A3 (stable) / S&P BBB+ (positive outlook) • Full year 2010 dividend of at least $1.75bn (US90 cents per share) • Commitment to resume a progressive dividend policy over the longer term Deutsche Bank BRICS metals and mining conference 5

Persistent economic imbalances may lead to medium term volatility GDP growth forecasts 2009

2010

2011

US Eurozone Japan China India

-2.4 3.3 -4.1 1.0 -5.2 2.4 9.1 10.5 5.7 9.4

2.9 1.3 1.8 9.6 8.4

Other Asia

1.7

6.4

5.5

Brazil

-0.2

7.1

4.2

Middle East

2.4

4.5

4.9

World (PPP weighted)

-0.6

4.6

4.3

Source: IMF World Economic Outlook, July 2010 Update 4 November 2010

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Long term trends support significant growth momentum in Rio Tinto’s markets GDP per capita

Rio Tinto sales by destination

(real 2005 $k PPP terms)

(%)

Source: Global Insight 4 November 2010

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Rio Tinto’s global project pipeline provides options to invest

Key Mines and mining projects Smelters, refineries, power facilities and processing plants remote from mine Countries where Rio Tinto operates Aluminium Copper / nickel Diamonds Energy Iron ore Minerals

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Exceptional growth path in iron ore

Cape Lambert port facility

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• Long term outlook remains strong • $4.4 billion (Rio Tinto share $2.9 billion) approved for Pilbara infrastructure expansion to 283mtpa by end of H2 2013 • Further investments in expansion of Pilbara mines expected within 12 months • IOC (Canada) expansion from 18 to 22mtpa underway; further options planned • JV with Chalco to develop and operate Simandou project in Guinea

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$13 billion of capital investment expected over the next 18 months

Simandou signing ceremony

Oyu Tolgoi construction in progress

Cape Lambert

Kitimat modernisation

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Exploration, technology and innovation deliver clear competitive advantage • Active exploration programme • Mine of the Future – leading the revolution in remote control and automation • New tunnelling concepts – partners selected • AP50 – the next generation of aluminium smelting • Block caving development and operating expertise

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Focused on value adding growth

First train loading at Brockman 4

• Outstanding first half earnings, EBITDA and operating cash flow • Net debt reduced to $12 billion • Operating at close to capacity: strong third quarter performance • Key projects completed on time and on budget • Second wave of transformation at Aluminium underway • Strong balance sheet allows $13 billion capital investment over the next 18 months Strategy remains unchanged – large, low cost, long life assets

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