Rio Tinto statement on amended assessments

The Australian Taxation Office (ATO) has issued Rio Tinto Limited with amended assessments of A$359.4m (US$279.8m) primary tax and A$47.1m (US$36.7m) of interest. This is in addition to the more than A$8.4bn (US$6.4bn) of Australian income tax paid during the relevant period. The assessments relate to the denial of interest deductions on an isolated borrowing used to pay an intragroup dividend in 2015. This borrowing was repaid in 2018. Borrowing to fund the payment of a dividend is a normal commercial practice. Rio Tinto is confident of its position and will dispute the assessments. In accordance with the usual practice Rio Tinto will pay 50% of the primary tax up-front as part of the objections process.

This announcement is authorised for release to the market by Rio Tinto’s Group Company Secretary.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210301006128/en/

[e-mail] riotinto.com Follow @RioTinto on Twitter Media Relations, United Kingdom Illtud Harri M [phone] David Outhwaite T [phone] M [phone] Media Relations, Americas Matthew Klar T [phone] Media Relations, Asia Grant Donald T [phone] M [phone] Media Relations, Australia Jonathan Rose T [phone] M [phone] Matt Chambers T [phone] M [phone] Jesse Riseborough T [phone] M [phone] Investor Relations, United Kingdom Menno Sanderse T: [phone] M: [phone] David Ovington T [phone] M [phone] Clare Peever M: [phone] Investor Relations, Australia Natalie Worley T [phone] M [phone] Amar Jambaa T [phone] M [phone] Category: general