Fourth quarter production results

Rio Tinto releases fourth quarter 2025 production results

21 January 2026

Standout production results with +8% CuEq production growth in 2025

Rio Tinto Chief Executive Simon Trott said: "Our operations delivered exceptional production performance, both on a quarter-on-quarter and full year basis, as we leverage our strong foundation of operating excellence and project delivery across our portfolio.

"We achieved record quarterly iron ore production in the Pilbara, with a strong recovery from the extreme weather interruptions earlier in the year. At Simandou, we celebrated the major milestone of first shipment from the port; a testament to our ability to deliver major growth projects.

"Record copper production continues following delivery of our Oyu Tolgoi underground project, another demonstration of our unique and diverse project capabilities.

"A step change in bauxite production through the year once again highlights the ongoing maturation of our operational excellence.

"In lithium, we achieved production growth from our operations and in-flight projects as planned in 2025, as we build out our high-quality portfolio with discipline. 

"Implementation of our stronger, sharper, simpler way of working continues, and is delivering results and creating value." 

1. Executive Summary

• Operational excellence: Copper equivalent (CuEq)1 production rose 8% YoY in 2025, with shipments up 5%, driven by the strong ramp-up of Oyu Tolgoi, a record year for bauxite production and our world-class lithium business.

• Iron ore: Pilbara operations achieved record Q4 production, +4% YoY, and shipments, +7% YoY, while the exceptional development pace at Simandou continued with the start of operations and first shipment in Q4.

• Aluminium: Production strength and agility demonstrated across the aluminium value chain in 2025.

• Lithium: Achieved record quarterly production from our operating assets in Argentina.

• Copper: Annual production grew 11% YoY, exceeding the top end of our increased guidance range, driven by the successful ramp-up of Oyu Tolgoi, where the underground development project is now complete.

1 Copper equivalent volume = Rio Tinto's share of production volume / Volume conversion factor x Product price ($/t) / Copper price ($/t). Prices are based on long-term consensus prices. 2 Rio Tinto share unless otherwise stated. 3 Iron Ore Company of Canada.4 Includes primary aluminium only.

2. Guidance

Production guidance

• 2025 guidance: met or exceeded for our Product Groups.

• 2026 guidance1: unchanged from Capital Markets Day 2025 disclosures, as shown in the table below.

1 Guidance remains subject to weather impacts. 2 Rio Tinto share unless otherwise stated. Our strategic reviews are advancing as planned, with the next phase focused on identifying the best path to unlock value. As such, we will no longer provide production guidance for Iron & Titanium, and Borates, while this process is underway. 3 Pilbara iron ore guidance remains subject to the timing of approvals for planned mining areas and heritage clearances. 4 Wet metric tonnes. 5 Iron Ore Company of Canada. 6 Circa 10% YoY growth from operated assets. 7 QAL production now included on a 100% basis for guidance. 8 Includes primary aluminium only.

Unit cost guidance

• 2025 unit cost performance and 2026 guidance will be given in the 2025 full year results release on 19 February 2026.

3. Group financial update 

Expenditure on exploration and evaluation

• Pre-tax and pre-divestment expenditure on exploration and evaluation charged to the profit and loss account in 2025 was $795 million, compared with $935 million in 2024. Approximately 40% of the spend was by Copper, 32% by central exploration, 19% by Iron Ore (which includes Iron Ore Company of Canada), 8% by other operations and 1% by Aluminium & Lithium. Qualifying expenditure on the Rincon project has been capitalised since 1 July 2024, accounting for most of the decrease in expense.

4. Our markets

Global economy: remains resilient despite persistent shocks and quarterly growth slowing, reflecting fading front-loaded trade flows and restrictive monetary stances in several economies. Inflationary pressures continue to ease globally.

Chinese economy: continues to be driven by production and exports, while investment and consumption moderated in Q4 and the property market remains weak. Policy priorities include advanced manufacturing, technology innovation and green transition, while near-term stimulus remains modest beyond infrastructure support. Trade diversification continues and export composition is shifting towards intermediate and capital goods, semiconductors and EV value chains, alongside offshore manufacturing investments.

US economy: showed resilience despite Q4 government shutdown. Financial conditions have loosened as borrowing costs declined, credit spreads narrowed and equity markets strengthened, all of which have supported financing activity and bolstered business and household confidence.

Iron ore

• China's domestic steel consumption was stable QoQ, while its net export run-rates (including semi-finished steel) remained well above 120Mtpa.

• Total seaborne iron ore shipments rose 4% QoQ and 2% YoY, driven by the non-major producers, whose shipments rose ~10% both QoQ and YoY, while supply from the majors was flat YoY. China's portside inventories at 47 ports increased by 21Mt during Q4 to 166Mt.

Copper

• London Metal Exchange (LME) prices surged through Q4 to close the year at a high of $5.67/lb ($12,500/t), driven by US interest rate cuts, positive sentiment around AI-driven electricity demand and continued supply disruptions.

• Chicago Mercantile Exchange (CME) prices continued to trade above LME prices, averaging ~10c/lb ($216/t) higher through Q41, due to the risk of copper cathode import tariffs. As a result, the US continues to import more copper than is required to meet demand and CME copper inventories are now above 400kt, compared to 85kt at the end of 2024.

• The copper concentrate market remained extremely tight in Q4, with spot treatment and refining charges plunging to -$68/t and the 2026 annual benchmark settling at $0/t, both all-time lows.

Aluminium

• The LME Q4 average price reached its highest level since Q2 2022, supported by increasing expectations of a tighter global aluminium balance in H1 2026, a weaker US dollar and rally in copper prices. Global primary aluminium production showed marginal growth in the first eleven months of 2025, which, coupled with low inventory levels, provided upward momentum to the price.

• In Q4, the US aluminium market premium reached its highest level, on a duty-paid basis, while on a duty-unpaid basis reached the maximum since Q2 2022, on lower levels of imports, the return of contango on LME and continuous de-stocking. European market premiums rose with some demand front-loading before the Carbon Border Adjustment Mechanism (CBAM) definitive phase, while Japan's market premium began recovering on anticipated supply tightening.

• Australian FOB alumina prices continued to fall in Q4 due to higher production in Indonesia and China, and elevated stock levels in China. Refineries in the upper quartile of the cost curve are unprofitable at current price levels, based on third-party data.

• Chinese bauxite spot import prices continued to decline in Q4 on higher seaborne supply to China, primarily from Guinea, where idled mines show signs of restarting at the end of the wet season.

Lithium 

• The lithium carbonate price increased 55% in Q4 fuelled by growing optimism for battery energy storage systems demand and strong shipment activity out of China. Global electric vehicle sales continued to grow at a rapid pace, reinforcing confidence in the sector. This momentum has prompted broad upgrades to lithium demand expectations.

1 CME front month vs LME cash price.

Borates

• Market price was stable in Q4, with supply and demand balanced following market disruptions earlier in the year. Demand in China and the USA continued to be stable.

Titanium dioxide

• Demand across key TiO2 downstream sectors remained soft amid persistent macro headwinds, particularly in property and construction. Elevated inventories and ongoing margin pressures have compelled pigment producers to scale back TiO2 feedstock purchases. Following weak demand, some TiO2 feedstock supply was curtailed in 2025; supply is estimated to have declined ~5% year-on-year.

1 Monthly average Platts (CFR) index for 62% iron fines. This is reflective of the pricing basis before we introduced the new product strategy (see Iron Ore section for further details).

2 Fastmarkets index for Lithium carbonate min 99.5% Li2CO3 battery grade.

Average realised prices achieved for our major commodities

1 Assuming 8% moisture.

2 LME plus all-in premiums (product and market). The US Midwest premium adapted to tariff levels in 2025, fully compensating for the 50% tariff after an initial period. Tariff costs are shown on page 9. 

3 Average realised price for all units sold. Realised price does not include the impact of the provisional pricing adjustments, which positively impacted revenues in 2025 by $758 million (2024 negative impact of $92 million).

5. Iron Ore

Pilbara operations

Production figures are sometimes more precise than the rounded numbers shown, hence small rounding differences may appear.

1 SP10 includes other lower grade products.

2 Shipments includes material shipped from the Pilbara to our portside trading facility in China which may not be sold onwards by the group in the same period.

3 While Rio Tinto has a 53% net beneficial interest in Robe River Iron Associates, it recognises 65% of the assets, liabilities, sales revenues and expenses in its accounts (as 30% is held through a 60% owned subsidiary and 35% is held through a 100% owned subsidiary). The consolidated basis sales reported here include Robe River Iron Associates on a 65% basis to enable comparison with revenue reported in the financial statements. 

• Q4 production: Record quarterly run rate of around 360 Mtpa driven by continued investment in mine health and productivity, and favourable weather.

• Q4 shipments: Record quarterly run rate of around 360 Mtpa supported by strong rail and port outload performance.

• Product strategy: SP10 sales were 10.5 Mt (100% basis) in Q4, a 50% reduction year-on-year, reflecting the ongoing execution of the new product strategy.

• Agreement Modernisation:

◦ We signed an updated Agreement with the Nyiyaparli People to strengthen ways of working together, deliver long-term benefits for the Nyiyaparli People, and provide Rio Tinto with a clear framework for engaging on mine development on Nyiyaparli Country.

◦ We also signed an Interim Modernised Agreement with the Yinhawangka People, establishing a pathway to a fuller modernised agreement that will govern how Rio Tinto operates on Yinhawangka Country for the long term.

• Full year: Mine operations bounced back from the cyclone impacts in Q1, achieving record rates since April and resulting in Pilbara mine production of 327.3 Mt (100% basis), stable year-on-year. With the cyclone recovery constraining the ports for most of H1, strong mine performance created surplus stocks enabling record shipping in H2. This allowed the system to recover 9 of the 13 Mt of cyclone losses; full year shipments were 326.2 Mt (100% basis), 1% lower year-on-year.

• Unlocking additional value from existing infrastructure:

◦ We reached an agreement with our Hope Downs Joint Venture partner to access an additional 400 Mt1 of Resource utilising existing infrastructure.

◦ We announced we are exploring opportunities with BHP to mine up to 200 Mt of iron ore at our neighbouring Yandicoogina and Yandi iron ore operations to extend mine life and create additional value.

• Q4 sales: 10% of sales priced by reference to the prior quarter's average index lagged by one month:

◦ remainder sold either on current quarter average, month average or on the spot market.

◦ 25% of sales were made on a free on board (FOB) basis, with remainder sold including freight.

• Q4 portside sales in China: 2.0 Mt (9.5 Mt in Q4 2024)

◦ 95% of our portside sales were either screened or blended in Chinese ports.

◦ End-December inventory levels at portside were 6.4 Mt, including 3.3 Mt of Pilbara product.

• Achieved average pricing in 2025 was $82.8 per wet metric tonne ($89.6 in 2024) on an FOB basis (equivalent to $90.0 per dry metric tonne, with an 8% moisture assumption). This compares to the average price for the monthly average Platts index for 62% iron fines converted to a FOB basis of $92.5 per dry metric tonne.

1 The approximately 400 Mt is part of the Texas East deposit and was included in the Mineral Resources reported in accordance with the JORC Code and the ASX Listing Rules in Rio Tinto's 2024 Annual Report released to the ASX on 20 February 2025 and available at riotinto.com. This 400 Mt comprises approximately 5% of the 5.8 Bt @ 62.4% Fe Inferred Mineral Resources of Brockman Ore and approximately 4% of the 2.6 Bt @ 56.7% Fe Inferred Mineral Resources of Brockman Process Ore. The Competent Persons responsible for the information in in the 2024 Annual Report that relates to Brockman Mineral Resources and Brockman Process Ore Mineral Resources are Natalie Brajkovich, Malcom Judge, Elizabeth Barron, each a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and Phil Savory, a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Rio Tinto confirms that it is not aware of any new information or data that materially affects the information included in the 2024 Annual Report, that all material assumptions and technical parameters underpinning the estimates in the 2024 Annual Report continue to apply and have not materially changed, and that the form and context in which the Competent Persons' findings are presented have not been materially modified. Mineral Resources are reported exclusive of Ore Reserves. Mineral Resources are reported on a 100% basis.

Iron Ore Company of Canada (IOC)

• Q4 production: lower due to pit health and mine equipment reliability challenges which resulted in reduced ore feed to the concentrator.

• Q4 sales: volumes reflect lower concentrator feed.

• Rail infrastructure: annual rail haulage set a record at 37.8 Mt, 4% higher than in 2024, driven by continued operational improvements to meet increasing third party demand and IOC material.

Simandou

1 Simandou production represents crushed ore at the SimFer mine gate before train loading.

2 Simandou sales will represent ore which has been through tertiary crushing in China. There is a ~2-3 month lag between mine gate production and sales; this accounts for time for railing of ore to the port in Guinea, shipping to China and tertiary crushing in China.

• Q4: First ore from the SimFer mine commenced train loading in October, with first shipment from the WCS port in December 2025.

• As reported in Q3, stockpiles have continued to build at the SimFer mine gate, as expected. In total, 2.3 Mt of crushed iron ore was produced in 2025 (100% SimFer), using temporary crushers, with ~2.1 Mt of crushed ore stockpiled at the mine gate at the end of Q4, ready for loading.

6. Aluminium & Lithium

Aluminium

Bauxite

• Q4: production remained robust after a record Q3, with Amrun sustaining its high plant utilisation rates. Lower production at Gove due to scheduled maintenance.

• Full year 2025: new annual production record of 62.4 Mt reflected the ongoing uplift from the Safe Production System and stable operating performance.

Alumina

• Q4: operations performed well with improving plant performance at Yarwun and Alumar delivering solid results. Vaudreuil returned to normal operations post a planned shutdown in Q3.

• At Yarwun, we announced that we will reduce production by 40% from October 2026, to extend the operation's life until 2035 and allow time to explore further life-extension and modernisation options.

Aluminium

• Q4: solid performance as the group continued to adapt to market and supply chain dynamics, maintaining output near historical highs.

◦ NZAS: achieved full production rates in Q4, after operations ramped up in Q3 post the call from Meridian Energy to reduce electricity usage by 50MW which ended on 15 June 2025.

◦ Kitimat: stable production despite operating with fewer pots than targeted, as we continue to adapt to effects of lower water levels.

• At the Bell Bay smelter in Tasmania, we secured a one year extension (to 31 December 2026) of our hydro power supply contract in October 2025 (as announced at our Capital Markets Day 2025). We continue regular discussions and engagement with Hydro Tasmania and both Tasmanian and Federal Governments to secure a new power agreement.

Recycled aluminium

• YoY: solid performance with stable demand for recycled products, as US volumes remained robust and Canadian shipments were stabilising.

Lithium

• Q4: strong operational performance.

◦ Lithium hydroxide: output rose as Bessemer City achieved record quarterly production. 

◦ Lithium carbonate: record quarterly production at both Fenix and Olaroz attributed to solid operational performance and seasonality uplift (with Q4 being the highest solar evaporation period).

▪ Fenix operated at full capacity (versus Q3 scheduled maintenance). Expansion 1A (with mechanical evaporation) completed its ramp-up as planned and was operating at full capacity in Q4.

▪ Olaroz stage 1 ran at full capacity as planned, and stage 2 performed in line with expectations.

7. Copper

Kennecott

• Q4 / YoY: performance continues to improve as we successfully navigate geotechnical conditions.

◦ Higher production in Q4 following the successful completion of the planned 21-day concentrator shutdown in September and 45-day smelter shutdown in mid-October. Higher concentrator throughput and improved grades more than offset reduced recoveries.

◦ Lower YoY production of refined metal due to ramp-up through October, following completion of smelter shutdown, and a strong prior year performance.

Escondida

• Q4: lower production driven by a reduction in concentrator output and head grades, as a result of mine sequencing, partly offset by further improvement in recoveries.

• YoY: lower production driven by a reduction in head grades from mine sequencing, partially offset by higher throughput and recovery rates. Refined copper increased 5%, driven by 11% higher sulphide leach cathode production from irrigation initiatives, partially offset by a 10% decrease in Full SaL1 cathodes due to a scheduled shutdown.

Oyu Tolgoi

• Q4: we achieved another record quarter for copper production following the successful planned concentrator shutdown in September. Higher production was driven by the continued underground ramp-up, higher head grades and recovery rates. Underground material movement achieved record daily throughput of 52ktpd and averaged 42ktpd in December.

• YoY: rising contribution from higher grade underground material, supported by the now fully operational conveyor to surface, combined with higher grade from the open pit. Full year copper production increased by 61% YoY, with a 121% increase in gold.

• Ramp-up remains on track to reach an average of around 500 thousand tonnes of copper per year (100% basis and stated as recoverable metal) from 2028 to 20362.

• Continuing engagement with Government of Mongolia including for the Entrée licence transfer. We maintain flexibility and options in the mine plan, including bringing Panel 1 or Panel 2 South into production first, depending on the timing of the licence transfer.

1 Full SaL is a processing technology that allows the extraction of copper using chlorine-assisted leaching predominantly for sulphidic material. 2  The ~500 thousand tonnes per annum copper production target (stated as recoverable metal) for the Oyu Tolgoi underground and open pit mines for the years 2028 to 2036 was previously reported in a release to the ASX dated 11 July 2023 "Investor site visit to Oyu Tolgoi copper mine, Mongolia". All material assumptions underpinning that production target and those production profiles continue to apply and have not materially changed.

8. Borates, TiO2 and diamonds

As announced on 27 August 2025, our Borates and Iron & Titanium businesses have now moved to the Chief Commercial Officer's portfolio for strategic review. The next phase is focused on testing the market for these assets. Throughout this review process, we will continue to focus on running these businesses safely and profitably to meet customer commitments.

Borates

• Q4: Lower operating rates due to planned maintenance which is now complete.

• YoY: Stable operating performance.

Iron & Titanium

• Q4: Aligned production to market demand. We continue to operate six (of nine) furnaces in Quebec and three (of four) furnaces at Richards Bay Minerals.

9. Capital Projects

1. Rio Tinto share of the Western Range capital cost includes 100% of funding costs for Paraburdoo plant upgrades.

2. The estimated annualised capacity of approximately 60 million dry tonnes per annum iron ore for the Simandou life of mine schedule was previously reported in a release to the Australian Securities Exchange (ASX) dated 6 December 2023 titled "Investor Seminar 2023". Rio Tinto confirms that all material assumptions underpinning that production target continue to apply and have not materially changed.

3. WCS is the holder of Simandou North Blocks 1 & 2 (with the Government of Guinea holding a 15% interest in the mining vehicle and WCS holding 85%) and associated infrastructure. WCS was originally held by WCS Holdings, a consortium of Singaporean company, Winning International Group (50%) and Weiqiao Aluminium (part of the China Hongqiao Group) (50%). On 19 June 2024, Baowu Resources completed the acquisition of a 49% share of WCS mine and infrastructure projects with WCS Holdings holding the remaining 51%. In the case of the mine, Baowu also has an option to increase to 51% during operations. During construction, SimFer will hold 34% of the shares in the WCS infrastructure entities with WCS holding the remaining 66%.

4. WCS holds the mining concession for Blocks 1 & 2, while SimFer holds the mining concession for Blocks 3 & 4. SimFer and WCS will independently develop their mines.

5. SimFer Jersey Limited is a joint venture between the Rio Tinto Group (53%) and Chalco Iron Ore Holdings Ltd (CIOH) (47%), a Chinalco-led joint venture of leading Chinese SOEs (Chinalco (75%), Baowu (20%), China Rail Construction Corporation (2.5%) and China Harbour Engineering Company (2.5%)). SimFer S.A. is the holder of the mining concession covering Simandou Blocks 3 & 4, and is owned by the Guinean State (15%) and SimFer Jersey Limited (85%). SimFer Infraco Guinée S.A. will deliver SimFer's scope of the co-developed rail and port infrastructure, and is co-owned by SimFer Jersey (85%) and the Guinean State (15%). SimFer Jersey will ultimately own 42.5% of La Compagnie du Transguinéen, which will own and operate the co-developed infrastructure during operations.

6. The production target of approximately 53 kt of battery grade lithium carbonate per year for a period of 40 years was previously reported in a release to the ASX dated 4 December 2024 titled "Rincon Project Mineral Resources and Ore Reserves: Table 1". Rio Tinto confirms that all material assumptions underpinning that production target continue to apply and have not materially changed. Plans are in place to build for a capacity of 60 kt of battery grade lithium carbonate per year with debottlenecking and improvement programs scheduled to unlock this additional throughput. Capacity of 60ktpa is comprised of 3ktpa starter plant, 50ktpa full scale plant and 7ktpa additional optimisation.

7. The ~500 thousand tonne per year copper production target (stated as recoverable metal) for the Oyu Tolgoi underground and open pit mines for the years 2028 to 2036 was previously reported in a release to the Australian Securities Exchange (ASX) dated 11 July 2023 "Investor site visit to Oyu Tolgoi copper mine, Mongolia". All material assumptions underpinning that production target continue to apply and have not materially changed.

8. The NRS Mineral Resources and Ore Reserves, together with the Lower Commercial Skarn (LCS) Mineral Resources and Ore Reserves, form the Underground Skarns Mineral Resources and Ore Reserves.

9. The 250 thousand tonne copper production target for the Kennecott underground mines over the years 2023 to 2033 was previously reported in a release to the Australian Securities Exchange (ASX) dated 20 June 2023 "Rio Tinto invests to strengthen copper supply in US". All material assumptions underpinning that production target continue to apply and have not materially changed.

10. Future Projects

1 All necessary State and Federal Government approvals have been received. The project is still subject to Traditional Owner consultation.

2 Mitsui holds its 40% interest through an entity named SPC Blue Pty Ltd and AMB holds its 10% interest through Rhodes Ridge Mining (No 1) Pty Ltd, a wholly owned subsidiary of Wright Prospecting Pty Ltd, that is managed and controlled by AMB.

11. Exploration and evaluation

* Non-operated.

• Overall, Rio Tinto has a strong portfolio of exploration projects with activity in 15 countries across six commodities. During 2025, the portfolio has been further simplified, including decisions to cease exploration activity in Brazil and Finland, and any lithium exploration projects without remaining commitments.

12. Fourth quarter public releases

1 October 2025 | Notification of potential retirement of Gladstone Power Station

7 October 2025 | Robe River Joint Venture to invest $733 million to extend West Angelas iron ore mine in Western Australia

14 October 2025 | Rio Tinto donates $1 million to support flood relief efforts in Arizona

24 October 2025 | Rio Tinto Board changes

27 October 2025 | Rio Tinto and China's State Power Investment Corporation launch battery swap truck trial fleet at Oyu Tolgoi mine

28 October 2025 | Tomago Aluminium begins employee consultation on future operations

28 October 2025 | Rio Tinto IOC invests in equitable access to healthcare with $50,000 donation to Hope Air

1 November 2025 | Rio Tinto and Canada Growth Fund announce transaction to advance Canadian production of scandium

11 November 2025 | Simandou partners celebrate start of operations

13 November 2025 | ELYSIS achieves breakthrough with commercial-size cell: a first in aluminium production using the inert anode technology

14 November 2025 | Rio Tinto signs new wind power deal for Kennecott

17 November 2025 | Rio Tinto partners with Calix to test low-emissions steel making in Western Australia, pauses BioIron

18 November 2025 | Rio Tinto to reduce production at Yarwun Alumina Refinery to extend operational life

25 November 2025 | Rio Tinto strengthens support for organisations responding to gender-based violence across Canada

2 December 2025 | Karlka Nyiyaparli Aboriginal Corporation and Rio Tinto sign updated Native Title Agreement

4 December 2025 | Stronger, sharper and simpler Rio Tinto to deliver leading returns

4 December 2025 | Rio Tinto's Nuton technology produces first copper

5 December 2025 | BHP and Rio Tinto welcome first Caterpillar battery-electric haul trucks to the Pilbara

8 December 2025 | Lithium Deep Dive and site visit, Argentina

8 December 2025 | Rio Tinto's first Pilbara-made rail car built by Gemco in Karratha

12 December 2025 | Yinhawangka Aboriginal Corporation and Rio Tinto sign Interim Modernised Agreement

12 December 2025 | Tomago Aluminium welcomes continued collaboration on future operations

16 December 2025 | Rhodes Ridge Joint Venture partners begin $191 million feasibility study on up to 50Mtpa Pilbara iron ore mine 

8 January 2026 | Statement regarding Glencore plc ("Glencore")

15 January 2026 | Rio Tinto and BHP explore collaboration to mine up to 200 million tonnes of Pilbara iron ore

15 January 2026 | Rio Tinto and Amazon Web Services collaborate to bring low-carbon Nuton copper to U.S. data centres

This announcement is authorised for release to the market by Andy Hodges, Rio Tinto's Group Company Secretary.

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Forward-looking statement

This announcement includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this report, including, without limitation, those regarding Rio Tinto's financial position, production guidance, 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. The words "intend", "aim", "project", "anticipate", "estimate", "plan", "believes", "expects", "may", "should", "will", "target", "set to" or similar expressions, commonly identify such forward-looking statement.

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. A discussion of the important factors that could cause Rio Tinto's actual results, performance or achievements to differ materially from those in the forward-looking statements can be found in Rio Tinto's most recent Annual Report and accounts in Australia and the United Kingdom and the 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, or filed with, the SEC. Forward-looking statements should, therefore, be construed in light of the risk factors discussed in such documents, and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this report. Rio Tinto expressly disclaims any obligation or undertaking (except as required by applicable law, the UK Listing Rules, the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and the Listing Rules of the Australian Securities Exchange) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Rio Tinto's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Nothing in this announcement 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. Past performance cannot be relied on as a guide to future performance.

Rio Tinto production summary

Rio Tinto share of production

Throughout this report, figures in italics indicate adjustments made since the figure was previously quoted on the equivalent page or reported for the first time. Production figures are sometimes more precise than the rounded numbers shown, hence small differences may result between the total of the quarter figures and the year to date figures.(a) Iron Ore production refers to saleable production, after crushing, screening and beneficiation processes. This, therefore, excludes Simandou production in 2025 which represents crushed ore at the mine gate. Final crushing of Simandou ore will initially be undertaken in China.

Rio Tinto share of production

(a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets.

(b) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits from 45.0% of production.

Rio Tinto share of production

(a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets.

(b) We continue to process third party concentrate to optimise smelter utilisation, including 4 thousand tonnes of cathode produced from purchased concentrate in Q4 2025 (39 thousand tonnes for full year 2025). Purchased and tolled copper concentrates are excluded from reported production figures and guidance. Sales of cathodes produced from purchased concentrate are included in reported revenues.

(c) Mill production was previously reported together with recoverable copper in ore stacked for leaching as mined production.

(a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets.

(b) We continue to process third party concentrate to optimise smelter utilisation, including 4 thousand tonnes of cathode produced from purchased concentrate in Q4 2025 (39 thousand tonnes for full year 2025). Purchased and tolled copper concentrates are excluded from reported production figures and guidance. Sales of cathodes produced from purchased concentrate are included in reported revenues.

Rio Tinto share of production

(a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets. Iron Ore production refers to saleable production, after crushing, screening and beneficiation processes. This, therefore, excludes Simandou production in 2025 which represents crushed ore at the mine gate. Final crushing of Simandou ore will initially be undertaken in China.

(b) Includes 100% of production from Paraburdoo, Mt Tom Price, Western Turner Syncline, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass, Channar, Gudai-Darri, Eastern Range and Western Range mines. Whilst Rio Tinto owns 54% of the Eastern Range and the Western Range mines, under the terms of the joint venture agreement, Hamersley Iron manages the operation and is obliged to purchase all mine production from the joint venture and therefore all of the production is included in Rio Tinto's share of production.

(c) SP10 includes other lower grade products.

(d) Shipments includes material shipped to our portside trading facility in China which may not be sold onwards in the same period.

(e) Represents the difference between amounts shipped to portside trading and onward sales from portside trading, and third party volumes sold.

(f) While Rio Tinto has a 53% net beneficial interest in Robe River Iron Associates, it recognises 65% of the assets, liabilities, sales revenues and expenses in its accounts (as 30% is held through a 60% owned subsidiary and 35% is held through a 100% owned subsidiary). The consolidated basis sales reported here include Robe River Iron Associates on a 65% basis to enable comparison with revenue reported in the financial statements.

(g) Simandou production represents crushed ore at mine gate in wet metric tonnne. Final crushing initially will be undertaken in China.

(h) Represents the Rio Tinto equity share of SimFer Jersey (53% owned by Rio Tinto), which owns 85% of the SimFer mine (Blocks 3&4).

Rio Tinto share of production