This website and the information contained herein (collectively referred to as the “Website") have been prepared by Palliser Capital (UK) Ltd (“Palliser UK”) which is authorised and regulated by the United Kingdom’s Financial Conduct Authority (“FCA”) and are prepared solely for the free exchange of views between Palliser (as defined below) and the user of this website regarding the unification of Rio Tinto plc and Rio Tinto Limited (each a “Company” and together, the “Companies”). This website and any related discussion is not aimed at entering into any agreement between Palliser and the user of this website on exercising shareholders’ rights.

Nothing within the website promotes or is intended to promote and may not be construed as promoting any funds advised directly or indirectly by Palliser UK (the “Palliser Funds”).

The views expressed herein represent the opinions of Palliser UK and its affiliates (collectively “Palliser”) as of the date hereof. Palliser reserves the right to change or modify any of its opinions expressed herein at any time and for any reason and expressly disclaims any obligation to correct, update or revise the information contained herein or to otherwise provide any additional materials.

The website is for discussion and informational purposes only and does not purport to be complete and its contents are not intended to be and do not constitute or contain (a) an offer inducement recommendation or invitation to buy or sell or a solicitation of an offer to buy or sell or to otherwise engage in any investment business or provide or receive any investment services in respect of any security or other financial instrument and no legal relations shall be created by its issue (b) a “financial promotion” for the purposes of the Financial Services and Markets Act 2000 of the U.K. (as amended) (c) “investment advice” as defined by the U.K. FCA’s Handbook of Rules and Guidance (“FCA Handbook”) (d) “investment research” as defined by the FCA Handbook (e) an “investment recommendation” as defined by Regulation (EU) 596/2014 and by Regulation (EU) 596/2014 as it forms part of U.K. domestic law by virtue of Section 3 of the European Union (Withdrawal) Act 2018 (“EUWA 2018”) including as amended by regulations issued under Section 8 of EUWA 2018 or (f) "financial product advice" as defined in the Corporations Act 2001 (Cth). No information contained herein should be construed as a recommendation by Palliser. This website is not a prospectus, disclosure document or other offering document under Australian law or under the laws of any other jurisdiction and no part of this website will be lodged with the Australian Securities and Investments Commission or any other regulator. The website is not intended to form the basis of any investment decision or suggest an investment strategy. The website is not (and may not be construed to be) legal tax investment financial or other advice.

No investment decision should be made on the basis of this website and no reliance placed on the information set out on this website. This website has been prepared without taking into account the investment objectives taxation situation financial situation or needs of individuals. Each person viewing this website should review all documents and materials relevant to any investment decision regarding matters described herein and seek appropriate independent advice from their own legal counsel and tax and financial advisers before making any investment decisions. This website is not intended for use by any person or entity in any jurisdiction or country where such use would be contrary to local law or regulation, and it is the responsibility of any person viewing this website to inform themselves of and to observe all applicable laws and regulations of any relevant jurisdiction. In particular, this website is not intended as marketing of a fund in any member state of the European Economic Area for the purposes of the Directive 2011/61/EU on Alternative Investment Fund Managers.

All of the information contained herein is based on publicly available information with respect to the Companies and any other company mentioned herein including public filings and disclosures made by the Companies and other sources as well as Palliser’s analysis of such publicly available information. Any and all market data contained or referred to herein is as of close of trading on the London Stock Exchange and Australian Securities Exchange on 29 November, 2024 unless otherwise stated. Palliser has relied upon and assumed without independent verification the accuracy and completeness of all data and information available from public sources and no representation or warranty, expressed or implied, is made as to its accuracy, correctness, completeness or adequacy. Each person viewing this website should makes its own enquiries and investigations regarding all information on this website. You are solely responsible for forming your own opinions and conclusions on such matters and the market and for making your own independent assessment of the information on this website. Palliser recognizes that the Companies may possess confidential or otherwise non-public information that could lead it to disagree with Palliser’s views and/or conclusions and that could alter the opinions of Palliser were such information known.

No representation warranty or undertaking express or implied is given and no responsibility or liability or duty of care is or will be accepted by Palliser the Palliser Funds or any of their respective directors officers employees agents or advisers (each a “Palliser Person”) concerning: (i) the website and its contents including whether the information and opinions contained herein are accurate fair complete or current; (ii) the provision of any further information whether by way of correction update or revision to the information and opinions contained in the website or otherwise to the recipient after the date of the website; or (iii) that Palliser’s or the Palliser Funds’ investment processes or investment objectives will or are likely to be achieved or successful or that Palliser’s or the Palliser Funds’ investments will make any profit or will not sustain losses. Past performance is not indicative of future results. To the fullest extent permitted by law none of the Palliser Persons will be responsible for any losses whether direct indirect or consequential including loss of profits damages costs claims or expenses relating to or arising from the recipient’s or any person’s reliance on the website.

Except for the historical information contained herein the information and opinions included in the website constitute forward-looking statements including estimates and projections prepared with respect to among other things each of the Companies’ anticipated operating performance the value of each Companies’ securities debt or any related financial instruments that are based upon or relate to the value of securities of each Company (collectively for each Company “Company Securities”) general economic and market conditions and other future events. You should be aware that all forward-looking statements estimates and projections are inherently uncertain and subject to significant economic competitive and other uncertainties and contingencies and have been included solely for illustrative purposes. Actual results may differ materially from the estimates projections or assumptions contained herein due to reasons that may or may not be foreseeable. There can be no assurance that the Company Securities will trade at the prices that may be implied on this website, and there can be no assurance that any estimate, projection or assumption on this website is, or will be proven, correct. Nothing on this website or any related materials is a statement of or indicates or implies any specific or probable value outcome for holders of the Company Securities in any particular circumstance.

No agreement commitment understanding or other legal relationship exists or may be deemed to exist between or among Palliser and any company referred to on this website, any person viewing this website or any other person by virtue of Palliser making available this website. Palliser is not acting for or on behalf of, and is not providing any advice or service to, any person viewing this website. Palliser is not responsible to any person for providing advice in relation to the subject matter of this website. Before determining on any course of action, any person viewing this website should consider any associated risks and consequences and consult with its own independent advisors as it deems necessary.

The Palliser Funds may have a direct or indirect investment in one or both of the Companies. Palliser’s interests may consist of various interests in the Companies or their equity or debt securities, and such interests may include derivative instruments or short positions which may comprise all or some of Palliser’s interests in the Companies. Palliser therefore has a financial interest in the profitability of the Palliser Funds’ positions in one or both of the Companies. Accordingly Palliser may have conflicts of interest and this website should not be regarded as impartial. Nothing in this website should be taken as any indication of Palliser’s or the Palliser Funds’ current or future trading or voting intentions which may change at any time without notice to any person (other than as required under, or in compliance with, applicable laws and regulations).

Palliser intends to review its investments in each of the Companies on a continuing basis and depending upon various factors, including, without limitation, each of the Companies’ financial position and strategic direction, the outcome of any discussions with one or both of the Companies, overall market conditions, other investment opportunities available to Palliser, and the availability of Company Securities at prices that would make the purchase or sale of Company Securities desirable. Palliser is in the business of investing and trading in securities.

Palliser may from time to time (in the open market or in private transactions including since the inception of the Palliser Funds’ position) buy, sell, cover, hedge or otherwise change the form or substance of any of the Palliser Funds’ investments (including Company Securities) to any degree in any manner permitted by law and expressly disclaims any obligation to notify others of any such changes. Palliser also reserves the right to take any actions with respect to the Palliser Funds’ investments in any of the Companies as it may deem appropriate, including but not limited to, communicating with other investors, shareholders, industry participants, experts and/or relevant parties with respect to any company referred to herein. Palliser has not sought or obtained consent from any third party to use any statements or information contained herein. Any such statements or information should not be viewed as indicating the support of such third party for the views expressed herein. All trademarks and trade names used herein are the exclusive property of their respective owners.

This website does not purport to be all-inclusive or to contain all of the information that may be relevant to an evaluation of the Companies, Company Securities or the matters described herein.