Consensus estimates

The consensus figures on the following page are based on forecasts submitted by participating sell-side analysts from the United Kingdom, Australia and North America who monitor Rio Tinto's stock.  The forecasts are collated exclusively by Visible Alpha, a company independent of Rio Tinto.

Following the release of Rio Tinto's Quarterly Operations Review, which happens four times per year, Rio Tinto invites analysts to submit their forecasts to a web-based tool independently managed by Visible Alpha. Each of the contributing analysts listed on the following page has submitted updated estimates based on Rio Tinto's most recent Quarterly Operations Review and agreed, as at the date of publication, to their updated forecasts being included in the revised consensus figures. The consensus figure for a particular item represents the arithmetic average of all figures for that item submitted to Visible Alpha by analysts. 

The analysts listed on the following page may not necessarily be the same analysts that contributed to consensus figures for previous quarters. Analyst estimates can change significantly from time to time, as commodity prices, among other things, can change rapidly. Any such changes in analysts' estimates after the date of publication will not be reflected in the consensus figures published on the following page until Rio Tinto invites sell-side analysts to submit their updated forecasts following the release of Rio Tinto's next Quarterly Operations Review. All forecast data from analysts who had submitted updated estimates to Visible Alpha based on Rio Tinto's most recent Quarterly Operations Review, and agreed to their updated forecasts being included in the revised consensus figures as at the date of publication have, save for instances of manifest error, been included in the aggregate consensus figures.

Neither Visible Alpha, nor the contributing analysts, have any access to Rio Tinto's internal forecasts, budgets or any other information which is not publicly available.

The consensus figures are not based on Rio Tinto's own opinions, estimates or forecasts and are compiled and published without comment from, or endorsement by, Rio Tinto. The consensus figures do not necessarily reflect guidance provided from time to time by Rio Tinto where given in relation to equivalent metrics, which to the extent available can be found on the Rio Tinto website.

By enabling publication of the consensus figures and referencing the same on its website, Rio Tinto does not imply that it endorses, confirms or expresses a view on the consensus figures. The consensus figures are provided for informational purposes only and are not intended to, nor do they, constitute investment advice or any solicitation to buy, hold or sell securities or other financial instruments. No warranty or representation, either express or implied, is made by Rio Tinto or its affiliates, or their respective directors, officers and employees, in relation to the accuracy, completeness or achievability of the consensus figures and, to the fullest extent permitted by law, no responsibility or liability is accepted by any of those persons in respect of those matters. Rio Tinto assumes no obligation to update, revise or supplement the consensus figures to reflect circumstances existing after the date hereof.

Rio Tinto does not accept any liability whatsoever for reliance upon, or actions taken based on, any of the information set out in these consensus figures. The consensus figures are forward-looking and as such are speculative and rely on assumptions and events in the future (some or all of which may not be satisfied or may not occur).

The information provided by Visible Alpha cited herein is provided “as is” and “as available” without warranty of any kind. Use of any Visible Alpha data is at a users own risk and Visible Alpha disclaims any liability for use of the Visible Alpha data. Although the information is obtained or compiled from reliable sources Visible Alpha neither can nor does guarantee or make any representation or warranty, either express or implied, as to the accuracy, validity, sequence, timeliness, completeness or continued availability of any information or data, including third-party content, made available herein. In no event shall Visible Alpha be liable for any decision made or action or inaction taken in reliance on any information or data, including third-party content. Visible Alpha further explicitly disclaims, to the fullest extent permitted by applicable law, any warranty of any kind, whether express or implied, including warranties of merchantability, fitness for a particular purpose and non-infringement.

The consensus figures do not take into consideration the investment objectives, financial situation or particular needs of any particular investor. Before making an investment decision, a prospective investor should consider its particular investment needs, objectives and financial circumstances, and should seek appropriate professional advice, tailored to the investor's circumstances. Any investment in securities is subject to investment risks.

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