The document summarizes the annual general meeting of Rio Tinto held on April 17, 2008. Three new directors were appointed in October 2007. Rio Tinto reported record earnings, cash flow, capital investment, and new capital commitments in 2007. The dividend was increased by 31% and commitments were made for further 20%+ increases in 2008 and 2009. Rio Tinto's acquisition of Alcan was described as strategically fitting and transforming. BHP Billiton's takeover offer was rejected on value grounds. Rio Tinto was described as well positioned for continued strong demand from China and India.

1. Annual General Meeting
17 April 2008

2. Paul Skinner
Chairman

3. New directors
Yves Fortier October 2007
Paul Tellier October 2007
Dick Evans October 2007
3

4. 2007 – records across the board
• Record underlying earnings of US$7.4 billion, up 1%
• Record cash flow from operations of US$12.6 billion, up 15%
• Record capital investment of US$5.0 billion, up 25%
• Record new capital commitments US$8 billion announced
• Dividend increased by 31% for the 2007 year
– commitment to further 20%+ increases in 2008 and in 2009
4

5. Progressive dividend policy
USc per share
96 97 98 99 00 01 02 03 04 05 06 07 08 09
5

6. Strategic fit of Alcan deal
• Strategy focus on large, long life,
competitive assets
• High quality aluminium assets acquired
• Aluminium sector leader, alongside iron
ore and copper
• Disposal of non-core assets ongoing
6

7. BHP Billiton offer rejected on value grounds
• Unsolicited “pre-conditional” offer
• Rejected on value grounds after full consideration
• Fails to recognise Rio Tinto’s outstanding prospects
• Rio Tinto performing strongly under talented management
• Chinalco investment of 12% in Rio Tinto plc
• Remain committed to existing strategy
7

8. Strong in Australia
• Contribution to national wealth over
many years
• Base of significant operations
• Invested about A$30 billion since 1998
• Value added of A$10 billion in 2007
• 17,000 employees in Australia
• Leader in Aboriginal employment
8

9. Sustainable development
• Key component of Rio Tinto values
• Alcan shares this commitment
• Smelting technology to reduce
energy use/emissions
• Clean hydro power a
competitive advantage
9

10. Positive market outlook
• Strong Chinese and Indian growth
• Demand less affected by West
• Multi-decade strong demand trend
• Differentiated from financial markets
• Rio Tinto portfolio well positioned
10

11. Conclusion
• 2007 a transformational year
• A new earnings/value creation trajectory
• Strong management team performing well
• Committed employees delivering success
11

12. Tom Albanese
Chief executive

13. Safety is core to our business
Decline in injury frequency rates 1998 - 2007
5 • 80% improvement in AIFR
• 78% improvement in LTIFR
Per 200 000 hours worked
4
3
All Injury Frequency Rate
2
1
Lost Time Injury Frequency Rate
0
98 99 00 01 02 03 04 05 06 07
13

14. Major investments, including Alcan
• US$46 billion in growth projects
– Alcan acquisition US$38 billion
• Global leader with premier assets
• Leader in aluminium technology
• Sustainable hydro energy
• Strong development portfolio
• Synergies could yield US$1.1 billion
14

15. China continues to fuel commodity markets
• High expectations fuelled by
sustained demand
• Fundamental shift in world economy
• Conditions will continue for some time
• Need to invest in market leaders
15

16. Another record year
• Record production in
– iron ore, bauxite,
– alumina, aluminium,
– refined copper and gold
• Higher prices increased earnings
by US$1.4 billion
• Projects on time, within budget
16

17. Product group results
EARNINGS
• Copper - highest earner on strong sales and prices US$3.5 billion
• Iron ore – earnings rose 18% for record year US$2.6 billion
• Aluminium - earnings up 47% on record output US$1.0 billion
• Energy – resurgent uranium the headline earner US$484 million
• Diamonds and Minerals – Diavik set records US$488 million
17

18. Portfolio and capital management
• Alcan acquisition transforming Rio Tinto
• Focusing the portfolio – iron ore, copper, aluminium
• Divestments reducing debt levels
• US$2.5 billion of disposals already complete
18

19. Project pipeline driving growth
Pebble Diavik u/g
KUC Keystone
Eagle Serbian borates
Oyu Tolgoi
Resolution
Bunder diamonds
Simandou Sulawesi nickel
La Granja
Madagascar ilmenite Pilbara/Hope Downs
Canning zircon Argyle u/g
Potasio Rio Colorado Chapudi coking coal
Palabora magnetite
19

20. Rio Tinto – a leader in exploration
Regina potash
IOC orbit
BC coking coal Serbian borates
Mongolian coking coal
Lakeview nickel
Bingham orbit
Bunder diamonds
Colombian coking coal
Simandou orbit
La Granja orbit Colombia and Brazil
ERA orbit
Mozambique ilmenite Gove orbit
Canning zircon
Iron Ore Canning potash
Copper/Gold Pilbara orbit
Bauxite
Energy Gippsland zircon
Diamonds and Minerals
20

21. Strong forecast growth in total production
Production volume index
200
190 8.6% Compound Annual
Growth Rate
180
170
160
150
140
130
120
110
100
08
2008 09
2009 10
2010 11
2011 12
2012 13
2013 14
2014 15
2015
Notes:
Production is total attributable production. Figures are based on estimated yearly production levels multiplied by long term analyst consensus prices. Total production volume is rebased to 100 for 2008.
Commodities included for Rio Tinto: Aluminium, alumina, iron ore, export thermal coal, export metallurgical coal, copper, gold, silver, molybdenum, and uranium.
Rio Tinto production source: Rio Tinto. 21

22. Delivering today, strongly positioned for
growth in the future
• FASTER at meeting the world’s growing demand
• BETTER at leading and shaping our industry
• SMARTER at creating shareholder value
22

23. Annual General Meeting 2008
17 April 2008
23