120 Collins Street Melbourne 3000 Australia Postal Address ...

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

Registered in Australia Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia ABN 96 004 458 404

ASX Market Announcements Australian Securities Exchange SYDNEY NSW 2000

8 August 2012

Dear Sir, Attached is the Rio Tinto 2012 interim results presentation given today by Tom Albanese, chief executive, and Guy Elliott, chief financial officer. Yours faithfully, Stephen Consedine Company Secretary

2012 interim results

1

8 August 2012

©2012, Rio Tinto, All Rights Reserved

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.

2 ©2012, Rio Tinto, All Rights Reserved

Tom Albanese

3

Chief executive


Injury frequency rates 2003 – H1 2012 Per 200,000 hours worked

4

Continued improvements in safety

0

0.2

0.4

0.6

0.8

1

1.2

1.4

1.6

1.8

2

’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 H12012

All injuryfrequency rate

Lost time injuryfrequency rate

Safety briefing


• Robust business of long-life, cost-competitive, expandable assets that are resilient throughout the cycle

• Aim to maintain strong balance sheet and single A credit rating

• Consistent delivery against a clearly-defined growth programme − Disciplined investment in high-

return growth projects − Completion of major projects

generating new revenues over next 12-18 months

• Further actions taken to shape the portfolio

Delivering on our strategy 5 ©2012, Rio Tinto, All Rights Reserved

2012 first half highlights

• Solid financial results driven by record operational performance of iron ore division − Underlying earnings of $5.2 billion − Net earnings of $5.9 billion − Underlying EBITDA of $10.1 billion − Cash flows of $7.8 billion

6

$ billions H1 2011 H1 2012 Movement Underlying EBITDA 14.3 10.1 -29% Underlying earnings 7.8 5.2 -34% Net earnings 7.6 5.9 -22% Cash flows from operations 12.9 7.8 -39% Capital expenditure 5.1 7.6 +49%

Interim dividend (US cents per share) 54.0 72.5 +34%


• Record production and sales from Pilbara iron ore operations

• Lower prices partly offset by higher volumes

• 5 Mt annual capacity increase through low capex debottlenecking

• Poised for major expansion

• Scaling up deployment of innovative technologies to improve productivity

Iron ore underlying results US$ billions

7

Iron ore: record Pilbara production and sales alongside major project development

0

1

2

3

4

5

6

7

8

9

10

H1 08 H1 09 H1 10 H1 11 H1 12

Underlying EBITDA Underlying earnings


• Lower volumes due to temporary grade decline

• Copper production expected to increase from second half 2012

• Brownfield investment to extend life of KUC mine, increase Escondida production

• Acquired majority stake in Turquoise Hill (formerly Ivanhoe)

Copper underlying results US$ billions

8

Copper: supply constraints continue

0

1

2

3

H1 08 H1 09 H1 10 H1 11 H1 12



-1.0

-0.5

0.0

0.5

1.0

1.5

2.0

2.5

H1 08 H1 09 H1 10 H1 11 H1 12


• Challenging market conditions and operating environment − 15% lower LME price half on half − Continued high input costs − Alma lock-out now resolved

• Accelerating cost reduction efforts

• Limiting growth projects in line with market conditions

• Increased bauxite production driven by strong demand

• Expansion of Yarwun alumina refinery complete, full capacity in Q3 2013

Aluminium underlying results US$ billions

9

Aluminium: continued focus on productivity and business improvement

2011 Onwards Excludes Pacific

Aluminium, Lynemouth, Sebree, Gardanne

refinery, and European specialty alumina



0

0.5

1

1.5

H1 08 H1 09 H1 10 H1 11 H1 12


• Earnings impacted by lower prices and Australian cost inflation

• Significant unseasonal wet weather in Australia continued into July

• Closure of Blair Athol by end of 2012

• First shipment of coking coal from Benga in June

• $227 million net gain on sale of Extract and Kalahari interests

Energy underlying results US$ billions

10

Energy: challenging market and cost environment


H1 2010 includes $0.4 billion (pre-tax) and $0.2 billion (post-tax) profit on disposal from Maules Creek and Vickery. H1 2012 earnings and EBITDA includes $0.2 billion and $0.3 billion respectively for the profit on the sale of Extract and Kalahari interests.


-0.1

0.0

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H1 08 H1 09 H1 10 H1 11 H1 12


• Benefit from gradual transition to shorter term pricing: some cyclical weakness

• Increased production of diamonds and TiO2

• Doubling stake in RBM to 74%, expected to complete during second half 2012

• Strategic review of diamonds business announced in March

Diamonds and Minerals underlying results US$ billions

11

Diamonds and Minerals: pricing momentum

H1 09 included $0.8 billion (pre and post-tax) profit on disposal of undeveloped potash properties


Guy Elliott

12

Chief financial officer


0

2,000

4,000

6,000

8,000

7,781H1 11

underlyingearnings

(1,936)Price

200Exchange

Rates

366Volumeincrease

(584)Volume

decrease

(174)Energy and

inflation

(388)Other cash

costs

(111)Explor'n,eval'n &

other

5,154H1 12

underlyingearnings

5,885H1 12

Net earnings

Underlying earnings 2011 first half vs 2012 first half $ millions

13

Strong underlying earnings in a lower price environment


Other

Mining Inflation

Weather

One-offs

Grade and stripping

Operational Readiness

-200 -100 0 100 200

• Operational readiness costs largely relate to preparation for Pilbara volume ramp-up

• Reduced impact from weather has been offset by other one-offs including Alma and Cu grades

• Prioritising productivity improvements

• Further savings expected from support and service cost reduction programme

Earnings cash cost impact $ millions

14

External cost pressures have reduced but remain significant

Structural cost increases

One-offs and volume related

Cost increases Cost decreases


Alma

0

2

4

6

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12

14

16

Inflows Outflows

• Solid cash flow generation despite challenging market and operating conditions

• Cash inflow boosted by Chalco earn-in payment for Simandou interest

• Disciplined approach to capital allocation − Investment programme focused

on the highest quality projects − $7 billion buy-back completed − Progressive dividend policy

2012 first half cash flows US$ billions

15

Solid cash flow generation

Other outflows: ($1.1bn)

Cash flow from operations: $7.8bn

Receipt of Simandou earn-in: $1.4bn

Increase in net debt: $4.7bn

Other inflows: $1.8bn

Capex: ($7.6bn)

Buy-back: ($1.5bn)

Dividends: ($1.7bn)

Tax: ($3.8bn)


• $16 billion capital expenditure approved for 2012

• Rio Tinto’s proportionate share of capital is $13.6 billion

• Disciplined and rigorous capital approval process

• Investment focused on projects that will deliver superior returns

• Phased approach to major capital projects

• Three significant projects in three commodities to come on line within the next 18 months

• Flexibility around further major project approvals

Approved capital expenditure US$ billions

16

Capital expenditure is being prioritised on the highest quality projects


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2008 2009 2010 2011 2012F 2013F 2014F 2015F 2016F

Sustaining Pilbara - historicalPilbara - sustaining mines Pilbara - growthOther Approved

Further progress in shaping the portfolio

• Capturing value from assets that are not aligned with our strategy − >20 divestments worth a total

of $12 billion completed since 2008 • Introducing new partners to projects • Acquisition of high quality assets − Control of Turquoise Hill − Doubling stake in RBM to 74% − Hathor exploration potential

• Strategic review and divestment processes under way − Diamonds − Pacific Aluminium / other − Palabora − Turquoise Hill non-core assets


Balancing value adding investment with returns to shareholders

• Disciplined and balanced approach to capital allocation

• Balance sheet strength and single A credit rating prudent in a volatile environment

• Progressive dividend provides sustainable long term returns to shareholders

• Investment programme focused on highest quality projects

18

Cash returns to shareholders

Progressive dividend

increased by 34%

$7 billion buy-back

completed

Prudent balance

sheet management

Single A credit Rating

Average

borrowing maturity

of 9 years

Disciplined investment

in highest value projects

$10 billion of non-sustaining

investments in 2012

Cash from operations


Tom Albanese

19

Chief executive


China stimulus supports Q4 demand, but near term risks remain • Eurozone debt crises and fragile US recovery create ongoing

near-term uncertainty • Central government launched a series of pro-growth policies since April 2012 • Expect this to lead to renewed demand from fourth quarter of 2012

20

China stimulus measures announced since April 2012

NDRC (Federal)

April 2012 280 new projects approved Focused on industrial innovation and clean energy

May 2012 135 new projects approved Baosteel and Wuhan alone granted permission to build RMB 134 billion of new steel capacity

June 2012 70 projects approved 69 projects relate to green energy and new energy production

State

July 2012 Jiangsu province City of Nanjing “30-point plan” to increase consumption

July 2012 Zhejiang province City of Ningbo to implement 24 stimulus measures, including a fund to support new business, tax cuts for qualified companies

July 2012 Hunan province City of Changsha 5 year investment plan, valued at $130 billion. Involves 195 development projects including airport, subway, energy production


0

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2005 2015 2025 2035

Industrial - Export (RT est) Industrial - Domestic (RT est)Construction (RT est) CRU est.Wood Mackenzie est. AME est.

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1000

2000 2010 2020 2030 2040 2050

Chinese crude steel demand forecasts Million tonnes

21

We continue to forecast Chinese crude steel production of ~1 billion tonnes p.a. towards 2030

Chinese crude steel production Million tonnes

Source: Rio Tinto analysis Source: Rio Tinto analysis, CRU (2011), AME, Wood Mackenzie


18

4

1 -1

-1

x Decade average compound annual growth rate (%)

Major iron ore production* (million tonnes)

22

Iron ore: supply continues to fall short of forecasts

Rio Tinto – Pilbara iron ore (million tonnes)

*Data set comprises Rio Tinto Pilbara, BHP Billiton and Vale Source: Deutsche Bank, Rio Tinto

Source: Deutsche Bank, Rio Tinto

400

600

800

1000

2007 2008 2009 2010 2011 2012 2013

2007-8 forecast 2011-12 forecast Actual

-158 Mt

100

200

300

400

2007 2009 2011 2013 2015

Jun-08 forecast Nov-11 forecast Actual

-31 Mt

-40

-30

-20

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0%

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100%

150%

200%

250%

Western Australian construction projects performance Cost (% of local currency budget)

23

We have demonstrated superior performance in delivering Pilbara projects on time and on budget


Over budget behind schedule

Under budget ahead of schedule

Mon

ths

over

bu

dget

RTIO projects Non RTIO projects

Source: Pit Crew Management Consulting Services, Rio Tinto

24

Unrivalled global iron ore expansion programme

• Pilbara expansion remains on time and local currency budget − Dredging now complete − Phase one piling for 283Mt/a

capacity 85% complete

• Potential expansions beyond 353 Mt/a through major debottlenecking

• Progressive investment at Simandou a further step towards development and ramp up

0

50

100

150

200

250

300

350

400

2011 2012F 2013F 2014F 2015F 2016F

283 Mt/a first ore in Q4 2013

353 Mt/a first ore in

H1 2015

Expected Pilbara production (100 per cent) Million tonnes


Port: current progress for 283 Mt/a expansion 25

Car Dumper tunnel progress Wharf progress

Stock yard progress Camp A with Camp B in background


Rail: current progress for 283 Mt/a expansion 26

Electronically Controlled Pneumatic (ECP) ore car fit-out

8 Mile yard

Track welding facilities ECP locomotive fit-out


• Phase one over 90% complete

• Stockpiling of ore under way

• On track for commercial production in first half of 2013

• Physical construction and testing of power infrastructure complete

• Look forward to working with new government to advance this major project for Mongolia

Oyu Tolgoi Phase 1 is nearing completion 27

First delivery to the ore storage facility



Embedding leadership in next generation step change technologies Our Mine of the Future™ provides an integrated approach to unlocking value

Find Develop Mine Recover

• Find future tier one ore bodies

• VK1 in initial flight trials • Complex testing

programme under way

• Develop future block cave mines safer, faster, better

• Tunnel boring system trials to commence at Northparkes during H2 2012

• Optimise resource productivity

• Expansion of driverless truck fleet to 150

• Operations Centre • Smart drilling and

blasting • Autonomous trains

(AutoHaul™)

• Recover more from mineral deposits

• IronX™ iron ore recovery pilot plant to be scaled up

• NuWave™ copper sorting pilot plant being commissioned at KUC

Innovation networks created through long term strategic alliances Protection of Intellectual Property is key to sustaining competitive advantage

• Consistent strategy delivered solid financial results in challenging markets and operating environment

• Record operational performance at Pilbara iron ore

• Resilient cost structure and balance sheet

• New revenues from completion of growth projects in the next 18 months

• Further actions taken to shape the portfolio

• Disciplined investment balanced with cash returns to shareholders

Consistent strategy, resilient business 29 ©2012, Rio Tinto, All Rights Reserved

2012 interim results

30

8 August 2012


Value creating divestments has been a continuous process

31

Major divestments from 2008 to 2012 US$bn Greens Creek 0.8 Cortez 1.7 Kintyre 0.5 Potasio Rio Colorado 0.9 Corumbá 0.7 Ningxia 0.1 Jacobs Ranch 0.8 Alcan Composites 0.3 Cloud Peak 1.3 Alcan Packaging Food Americas 1.2 Alcan Packaging global pharma 2.0 Medflex / Beauty 0.1 Talc 0.3 Kalahari Minerals-Extract Resources 0.4 Other including exploration properties 0.8 Total to date 11.9

Reconciliation of underlying earnings to net earnings

32

$m H1 2012 H1 2011

Underlying earnings 5,154 7,781

Impairment charges net of reversals (115) (157)

(Losses)/Profits on consolidation and disposal of interests in businesses (51) 29

Loss after tax from discontinued operations – 10

Exchange and derivative gains / (losses) Exchange (losses)/gains on US dollar net debt and intragroup balances (165) 82

Gains on currency and interest rate derivatives not qualifying for hedge accounting

22 15

Gains/(losses) on commodity derivatives not qualifying for hedge accounting

21 (34)

MRRT 1,043 –

Other exclusions (24) (139)

Net earnings 5,885 7,587

Earnings impact from price variance -$1,936 million $US million

33

Breakdown of price variance

-278 -709 53 -67 1,110 53 -83 -17

201

-4 29

-1,200

-1,000

-800

-600

-400

-200

0

200

400

Copper Aluminium Gold Other Iron ore Th coal Met coal Uranium Ind mins Diamonds Other (netof hedging)

Earnings impact from volume increases $366 million $US millions

34

Breakdown of volume variance (increases)

62

0 10

0

219

47

4 0

24

0

50

100

150

200

250

Copper Aluminium Gold Moly Iron ore Coal Industrialminerals

Diamonds Other

Earnings impact from volume decreases -$584 million $US millions

35

Breakdown of volume variance (decreases)

*Aluminium

-327

-38

-148

-29

0 0 -16 -9 -17

-350

-300

-250

-200

-150

-100

-50

0

Copper Aluminium Gold Moly Iron ore Coal Industrialminerals

Diamonds Other

Modelling earnings 36

Earnings sensitivity

2012 first half average price / rate 10% Change

Impact on full year underlying earnings

($m)

Copper 367c/lb +/-37c/lb 234

Aluminium $2,081/t +/-$208/t 399

Gold $1,652/oz +/-$165/oz 32

Iron ore +/-10% 1,073

Coal* +/-10% 186

A$ 103 Usc +/-US10.3c 981

C$ 99 Usc +/-US9.9c 256

*For both thermal and coking coal

Iron ore

Movement in underlying earnings H1 2011 vs H1 2012 $US millions

• Record first half production and sales from the Pilbara partly offset lower prices • Continued evolution of sales contract portfolio, c.40% sold on quarterly lag • Pilbara expansion projects obtain further funding approval, on track for expansion to 283 Mt/a

by end 2013 and 353 Mt/a by H1 2015 • Further progressive commitment of $0.5 billion at Simandou

5,952 4,753 42 219

-1,110 -43 -11 -107 -94 - 95

HY, 11 Price Fx Vols CPI Energy Other cash Expl'n Eval'n Other cash HY, 12

37

• Impact of lower prices and lower volumes from temporary reduction in grades at Kennecott Utah Copper and no metal share from Grasberg

• Escondida copper production up 29% compared to H1 2011 • Construction of Oyu Tolgoi project 90% complete and on track for first commercial production

in H1 2013 • Approved major sustaining projects at Escondida and Kennecott Utah Copper • Increased stake in Turquoise Hill (formerly Ivanhoe) to 51% and appointed directors on the

board of Turquoise Hill, including the CEO and CFO

Copper 38


1,237

556 18

10 86

279 424

12 36 44


Aluminium 39


• 15% lower LME price half on half • Canadian dollar weakened against US dollar • Unfavourable raw material costs, mainly coke, pitch and caustic • 2012 H1 one-off events include: − Yarwun 2 start-up − Alma lock-out − Shawiningan transformer

344

24

-406

107 -38 -29 55 -124 7 108

HY, 11 Price Fx Vols CPI Energy Other cash Expl'n Eval'n Other cash ClosingBalance

• Earnings impacted by lower prices and Australian cost inflation.

• Offset by higher volumes and the sale of interests in exploration properties, which delivered a $249 million pre and post-tax gain.

• Production of hard coking coal and semi-soft coking coal were 9 per cent and 17 per cent above impacted first half 2011.

Energy


375 307

9 61 169

47 23 8 132 97


40

Diamonds & Minerals 41


• Underlying earnings are 107% higher than the first half of 2011 reflecting strong prices and offsetting the sale of the talc business in mid-2011

• The group benefited from higher prices across the industrial minerals business and increased diamonds production. • Strong earnings were partially offset by higher study costs related to expanding titanium dioxide mining and refining capacity, and

divestment of the talc business in mid-2011.

• On 1 February 2012, Rio Tinto announced that it will increase its stake in Richards Bay Minerals to 74 per cent through the acquisition of BHP Billiton's 37 per cent interest.

98

203

197

-21 22 2 -14 -9

-30

-42


Other 42

$millions HY, 2011 FX/

price Volumes CPI Energy Cash

Costs Epl'n

Eval'n Non

Cash

Interest, tax & other HY,2012

Intersegment 25 – – – – – – – (25) –

Other operations 91 (294) (15) (27) (60) 39 – 76 (37) (227)

Central exploration (net) 21 – – – – – (98) – – (79)

Interest (152) – – – – – – – 68 (84)

Other (210) 7 – – – (19) – – (65) (299)

• Intersegment includes insurance proceeds in H1 2011 • Other operations comprises mainly Pacific and Other Aluminium(1), Areas under Management

and Engineered Products (including Cable and Constellium). • Exploration rebuilding portfolio and lower divestment proceeds • Other includes higher corporate costs, increased technology and innovation activity,

offset by currency movements on non-USD funds

(1) Other Aluminium comprises Lynemouth, Sebree and Speciality Alumina

Provisional pricing

• H1 2011: driven by a decline in copper 3 month forward price between the end of 2010 and the end of June 2011 and a 11% increase in tonnes provisionally priced at 30 June 2011 resulting in an unfavourable earnings impact of $9m

• H1 2012: driven by decreased copper 3 month forward prices over the last 5 months and a 30% increase in tonnes provisionally priced at 30 June 2012, resulting in an unfavourable earnings impact in H1 2012 of $7m

43

Open shipments

(million lbs)

Provisional pricing effect

(US$m)

30 Jun

2012

31 Dec

2011 H1

2012 H1

2011

Escondida 203 146 – (7)

Northparkes 32 33 (7) (2)

Grasberg JV/Other

0 2 – (1)

235 181 (7) (9)

Earnings reconciliations 44

H1 2012 Energy Resources of Australia US$m Earnings per ERA press release (A$54m) (62) Increase depreciation of closure asset (8) Tax and unwinding of discount 5 Less: Minority interests 24 Other (12) Underlying earnings as reported by Rio Tinto (53)

Palabora US$m Earnings per Palabora press release (R338m) 43 Interest and FX gain/loss on net debt (net) (13) Tax effect on above items 2 Tax on unremitted earnings 24 Less: minority interest (42.3%) (29) Underlying earnings as reported by Rio Tinto 27

Variance analysts methodology

• Price = Change in commodity price x prior year sales volumes

• Exchange = (Change in exchange rates x Prior year cost of sales) + Relative movements in exchange gains and losses on working capital

• Inflation = Inflation rate x Prior year cash cost of sales

• Volume = Change in sales volumes x Current year margins

• Cost = cash cost variance + non cash cost variance + impact of energy price changes + one-off costs − Energy = change in input price x prior year usage − Cash cost = Change in cash unit costs x Prior year sales volumes − Non cash cost = Change in non cash unit costs x Prior year sales volumes

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