- Rio Tinto reported lower earnings and EBITDA for the first half of 2009 compared to the same period in 2008, due to a sharp decline in commodity prices from their peak in early 2008. - The company took decisive actions to improve its financial position, including successful rights issues raising $15.2 billion, divestments of $3.7 billion, and achieving $0.8 billion of its $2.5 billion operating cost savings target for 2009. - While the global economic outlook remains uncertain, Rio Tinto expects demand from China to continue supporting commodity prices, having driven domestic activity and inventory rebuilding through policy responses to the downturn.

1. 2009 Half Year Results 20 August 2009

3. Jan du Plessis Chairman

7. Tom Albanese Chief Executive Officer

8. Lost Time Injury Frequency Rate Per 200 000 hours worked Source: Rio Tinto. Safety remains a top priority All Injury Frequency Rate Decline in injury frequency rates 2002 – June 2009

15. Production costs are coming down Rio Tinto Alcan alumina cash cost of production Alumina Production Cost (cost in USD index) Q3 2008 actual Q2 2009 actual* 100% -25% Rio Tinto Alcan hot metal cash cost of production Aluminium Production Cost (cost in USD index) Q3 2008 actual Q2 2009 actual* 100% -27% Q4 2008 actual Q1 2009 actual Q4 2008 actual Q1 2009 actual -5% -24% -11% -28% *Exchange rate movements were unfavourable from Q109 to Q209. Compared with the US dollar, the Canadian dollar strengthened from 0.79 to 0.87 and the Australian dollar strengthened from 0.68 to 0.81 during Q209.

18. Guy Elliott Chief Financial Officer

19. H1 2009 underlying earnings impacted by a severe decline in prices $m $797m gain on potash sale

26. Tom Albanese Chief Executive Officer

30. 2009 Half year Results 20 August 2009

31. Earnings impact from price -$4,670 million $m Diamonds Iron Ore Traded Aluminium Non-traded Other Copper Moly Thermal coal Ind Mins Breakdown of price variance HANDOUT SLIDE Coking coal

32. Earnings impact from volumes -$294 million $m Engineered Products Iron Ore Aluminium Other Copper Moly Coal Uranium Breakdown of volume variance HANDOUT SLIDE Ind. Minerals Gold Diamonds

33. Modelling 2009 earnings HANDOUT SLIDE *Based on 10% movement on Rio Tinto’s average realised iron ore price. The Pilbara blend fines price is included as a reference. 35 +/-$91/oz $913/oz Gold 18 +/-$0.9/lb $9.0/lb Molybdenum 83 USc 71 USc 126c/dmtu $1,422/t 182c/lb 2009 first half average price/rate +/-US8.3c +/-US7.1c +/-13c/dmtu +/-$142/t +/-18c/lb 146 C$ 360 A$ 554* Iron ore – Pilbara blend fines 399 Aluminium 221 Copper Impact on full year underlying earnings ($m) Earnings Sensitivity

34. Rio Tinto Alcan in-period synergies within underlying earnings $m HANDOUT SLIDE * One-off costs relate to implementation costs which are not included in underlying earnings ** $73m of the 2009 savings were first realised in 2008 i.e. they were not incremental