Weekly Wrap: Late pullback slams gold shares

Small Caps

A dramatic pullback late in the day saw the Australian share market give up all of its Friday gains and plunge 0.7% as sudden fears over the future direction of US interest rates took hold.

Gold shares were particularly hard hit by rumours the US President was about to nominate Kevin Warsh as the next US Federal Reserve Chair.

Warsh seen as more hawkish than other choices

A former Fed governor, Warsch was seen visiting the White House after President Trump said he would announce the new Fed chair on Saturday Australian time. Warsch is seen as less likely to introduce a rapid series of interest rate cuts than some of the other candidates for the job, which caused a crunch in the price of gold and plenty of collateral damage to the price of Australian gold shares.

From gains to sharp losses as bullion drops by 5%

During the afternoon crunch which was the biggest fall in nearly two weeks, the ASX 200 dropped 58.4 points, or 0.7%, to 8869.1 points after it had earlier risen to 8971.6 points. Despite the fall, only 4 of the 11 sectors ended lower and the index remained up 1.8% for January and was also up 0.1% for the week. Gold bullion fell as much as 5% on the Warsh speculation, settling at around US$5200 an ounce and the US dollar rose. Silver ended near US$111 an ounce and the Australian dollar slid 0.7% to about US70.05¢.

Materials bear the brunt

Materials was the worst hit sector on the ASX, falling more than 3% as investors dumped gold shares. Some of the worst hit included Ora Banda shares which fell 11.7% to $1.28, while Newmont shares lost 7.9% to $173.53 and Genesis Minerals shares fell 9.9% to $7.59. Even the big miners were hit by the fall with Rio Tinto shares down 3.5% to $151.55, and BHP shares down 1.8% to $50.57.

Defensive earnings sought

Defensive shares had a rare day in the sun with health care outperforming as investors looked for refuge before an expected Reserve Bank of Australia rate rise in the coming week. CSL shares rose 1.1% to $181.42, while sleep device company ResMed shares climbed 3.1% to $37.54 after beating second-quarter earnings forecasts. Energy stocks moved in both directions. Whitehaven Coal shares fell 6.7% to $8.83 as investors took some profits off the table after a 13% rise for the month. Oil and gas companies were still trading well with Woodside Energy shares up 0.8% to $25.37 and Santos shares rose 2.5% to $7.01. Nine Entertainment shares climbed 5.1% to $1.14 as it paid $850 million for digital outdoor advertising group QMS Media and sold its radio arm to the Laundy family. Shares in lithium miner PLS fell 6.5% to $4.29 after reporting a solid December quarter, with higher realised lithium prices driving a 49% jump in revenue to $373 million despite lower production volumes. Shares in Star Entertainment sharply fell by 15.6% to 13.5¢ after it warned of ongoing uncertainties following a pre-tax and interest profit of just $6 million in the December quarter.

The week ahead

There are no prizes for guessing which announcement for the coming week will be the most talked about, with the Reserve Bank now highly likely to increase official cash rates at its first meeting for the year on Tuesday. While the focus will still be on the actual decision – which is now odds-on to be a rise due to firming inflation numbers – there will also be plenty of analysis on whether this will be a one-off rise or the first in a series of rises.

High chance of interest rate rise

Most economists are backing a rise on Tuesday due to underlying inflation pressures becoming more entrenched but the jury is still out on whether the board will opt for a single rise before waiting for later figures or embark on a series of rises to really quench inflationary pressures. Either way, the chances are that after Tuesday official interest rates will rise by 0.25% to 3.85%, causing a cascade effect through home and other loans and also deposit rates. RBA Governor Michele Bullock will also testify before Parliament on Friday. In the UK, the Bank of England (BOE) is expected to hold its benchmark interest rate at the current 3.75%, despite the UK's inflation remaining the highest in the G7. The European Central Bank is also tipped to hold its benchmark rate at 2% on Thursday amid divided opinions about the inflation outlook. Other things to watch overseas include US jobs figures and Chinese manufacturing numbers.

Corporate profit season arrives

Locally there are some other highlights including home values, job advertisements and building approvals but the biggest news will be the arrival of the corporate reporting season. Some of the companies reporting include Credit Corp, Amcor, Centuria Office REIT, Boss Energy, Pinnacle Investment Management, Beach Energy, Garda Property, News Corp and REA Group. The fourth quarter results in the US also continue with some of the reporting companies being Walt Disney, Palantir Technologies, AMD, Amgen, Merck, Mondelez, PayPal, PepsiCo, Pfizer, Take-Two Interactive Software, Alphabet, Eli Lilly, Novo Nordisk, Uber Technologies, ARM Holdings, Ford, Qualcomm, Snap, Amazon.com, Barrick Mining, Bristol-Myers Squibb, and Estée Lauder.

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REG - UBS Sec. Australia Rio Tinto - Form 8.5 (EPT/NON-RI) - Rio Tinto plc

London Stock Exchange

Rio Tinto

-4.31%

RNS Number : 1389R UBS Securities Australia Limited 30 January 2026

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS (OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Name of exempt principal trader:	UBS Securities Australia Limited
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	Rio Tinto Ltd Rio Tinto Plc
(c) Name of the party to the offer with which exempt principal trader is connected:	Rio Tinto Ltd Rio Tinto Plc
Au(d) Date position held/dealing undertaken: For an open position disclosure, state the latest practicable date prior to the disclosure	29 January 2026
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer? If it is a cash offer or possible cash offer, state "N/A"	NO

2. POSITIONS OF THE EXEMPT PRINCIPAL TRADER

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	Ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	0	0.00 %	1,720,734	0.46%
(2) Cash-settled derivatives:	0	0.00%	0	0.00%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00 %	0	0.00%
TOTAL:	0	0.00 %	1,720,734	0.46%

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

8.7 (b) Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
Ordinary	BUYS	419,370	157.0400 AUD	152.0000 AUD
Ordinary	SELLS	550,848	157.04 AUD	150.0000 AUD

(b) Cash-settled derivative transactions

Class of relevant security
Product description
e.g. CFD
Nature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short position
Number of reference securities
Price per unit

(i) Writing, selling, purchasing or varying

Class of relevant security
Product description e.g. call option
Writing, purchasing, selling, varying etc.
Number of securities to which option relates
Exercise price per unit
Type
e.g. American, European etc.
Expiry date
Option money paid/ received per unit

(ii) Exercise

Class of relevant security
Product description
e.g. call option
Exercising/ exercised against
Number of securities
Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security
Nature of dealing
e.g. subscription, conversion
Details
Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"
None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"
None

Is a Supplemental Form 8 (Open Positions) attached?
NO

Date of disclosure:	30 January 2026
Contact name:	Richard Howard
Telephone number:	+44 (0)207 568 9128

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@thetakeoverpanel.org.uk

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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REG - L&G – Asset Mgmt. Ld Rio Tinto - Form 8.3 - Rio Tinto plc

London Stock Exchange

Rio Tinto

-4.31%

RNS Number : 1387R L&G – Asset Management Limited 30 January 2026

FORM 8.3

PUBLIC DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Full name of discloser:	L&G - Asset Management Limited
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.	L&G - Asset Management Limited
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	Rio Tinto plc and Rio Tinto Limited
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:	No
(e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure	29 January 2026
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A"	Yes - Glencore plc

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	ORD GBP 0.10
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	15,922,564	1.26%
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	15,922,564	1.26%

Class of relevant security:	ORD AUD NPV
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	2,704,716	0.72%
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	2,704,716	0.72%

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:	N/A
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
ORD AUD NPV	Purchase	597	AUD 154.08
ORD AUD NPV	Sale	1,284	AUD 157.04
ORD AUD NPV	Purchase	42	AUD 157.04
ORD GBP 0.10	Purchase	2,796	GBP 69.55
ORD GBP 0.10	Sale	4,460	GBP 68.49
ORD GBP 0.10	Purchase	890	GBP 68.49

(b) Cash-settled derivative transactions

Class of relevant security
Product description
e.g. CFD
Nature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short position
Number of reference securities
Price per unit

(i) Writing, selling, purchasing or varying

Class of relevant security
Product description e.g. call option
Writing, purchasing, selling, varying etc.
Number of securities to which option relates
Exercise price per unit
Type
e.g. American, European etc.
Expiry date
Option money paid/ received per unit

(ii) Exercise

Class of relevant security
Product description
e.g. call option
Exercising/ exercised against
Number of securities
Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security
Nature of dealing
e.g. subscription, conversion
Details
Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"
None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"
None

Is a Supplemental Form 8 (Open Positions) attached?
NO

Date of disclosure:	30 January 2026
Contact name:	James Brown
Telephone number:	029 2011 4104

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel's Market Surveillance Unit.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

Risk Warnings and Disclaimers

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REG - UBS Securities LLC Rio Tinto - Form 8.5 (EPT/NON-RI) - Rio Tinto plc

London Stock Exchange

Rio Tinto

-4.31%

RNS Number : 1384R UBS Securities LLC 30 January 2026

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS (OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Name of exempt principal trader:	UBS Securities LLC
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	Rio Tinto plc Rio Tinto Limited
(c) Name of the party to the offer with which exempt principal trader is connected:	Rio Tinto plc Rio Tinto Limited
(d) Date position held/dealing undertaken: For an open position disclosure, state the latest practicable date prior to the disclosure	29 January 2026
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer? If it is a cash offer or possible cash offer, state "N/A"	YES

2. POSITIONS OF THE EXEMPT PRINCIPAL TRADER

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	10p Ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	0	0.00%	117,239	0.01%
(2) Cash-settled derivatives:	0	0.00%	0	0.00%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00%	0	0.00%
TOTAL:	0	0.00%	117,239	0.01%

Class of relevant security:	ADR
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	122,406	0.01%	0	0.00%
(2) Cash-settled derivatives:	0	0.00%	0	0.00%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00%	0	0.00%
TOTAL:	122,406	0.01%	0	0.00%

Class of relevant security:	Limited Ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	963,567	0.26%	0	0.00%
(2) Cash-settled derivatives:	0	0.00%	0	0.00%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	0	0.00%	0	0.00%
TOTAL:	963,567	0.26%	0	0.00%

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

8.7 (b) Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
10p Ordinary	PURCHASE	2,864	69.94 GBP	68.04 GBP
10p Ordinary	SALE	26,612	68.85 GBP	68.44 GBP

Class of relevant security	Purchase/sale	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
ADR	PURCHASE	944	96.5425 USD	94.60 USD
ADR	SALE	944	96.5425 USD	94.60 USD

Class of relevant security	Purchase/sale	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
Limited ordinary	PURCHASE	8,466	152.15 AUD	151.95 AUD
Limited ordinary	SALE	2,270	157.09 AUD	153.15 AUD

(b) Cash-settled derivative transactions

Class of relevant security
Product description
e.g. CFD
Nature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short position
Number of reference securities
Price per unit

(i) Writing, selling, purchasing or varying

Class of relevant security
Product description e.g. call option
Writing, purchasing, selling, varying etc.
Number of securities to which option relates
Exercise price per unit
Type
e.g. American, European etc.
Expiry date
Option money paid/ received per unit

(ii) Exercise

Class of relevant security
Product description
e.g. call option
Exercising/ exercised against
Number of securities
Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security
Nature of dealing
e.g. subscription, conversion
Details
Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"
None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"
None

Is a Supplemental Form 8 (Open Positions) attached?
NO

Date of disclosure:	30 January 2026
Contact name:	Richard Howard
Telephone number:	+44 (0)207 568 9128

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@thetakeoverpanel.org.uk

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

Risk Warnings and Disclaimers

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Medical Device Maker Resmed Rises On Q2 Profit Beat

Reuters

ResMed

+0.27%

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REG - UBS AG (EPT) Rio Tinto - Form 8.5 (EPT/RI) - Rio Tinto plc

London Stock Exchange

Rio Tinto

-4.31%

RNS Number : 1321R UBS AG (EPT) 30 January 2026

FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY

Rule 8.5 of the Takeover Code (the Code)

1. KEY INFORMATION

(a) Name of exempt principal trader:	UBS Investment Bank, London
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	Rio Tinto plc Rio Tinto Limited
(c) Name of the party to the offer with which exempt principal trader is connected:	Rio Tinto plc Rio Tinto Limited
(d) Date dealing undertaken:	29 January 2026
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer? If it is a cash offer or possible cash offer, state "N/A"	YES

2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
10p ordinary	Buy	653483	70.14000 GBP	67.94000 GBP
10p ordinary	Sell	1178571	70.14000 GBP	67.94000 GBP

Class of relevant security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
Limited Ordinary	Buy	751791	157.04000 AUD	121.68720 AUD
Limited Ordinary	Sell	740975	157.04000 AUD	121.68720 AUD

Class of relevant security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
ADR	Buy	12389	96.85312 USD	94.39966 USD
ADR	Sell	18007	96.01167 USD	94.39966 USD

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
10p ordinary	CFD	Long	533	69.024776 GBP
10p ordinary	CFD	Long	33	69.1987979707566 GBP
10p ordinary	CFD	Long	1115	69.1641582488789 GBP
10p ordinary	CFD	Long	768	69.95 GBP
10p ordinary	CFD	Long	79	68.96 GBP
10p ordinary	CFD	Long	285	69.43 GBP
10p ordinary	CFD	Long	103	68.7 GBP
10p ordinary	CFD	Long	133	68.13 GBP
10p ordinary	CFD	Long	13	78.95230769 EUR
10p ordinary	CFD	Long	12	79.02 EUR
10p ordinary	CFD	Long	17	69.1988336501757 GBP
10p ordinary	CFD	Long	12803	69.500546 GBP
10p ordinary	CFD	Long	9101	69.99461598 GBP
10p ordinary	CFD	Long	121	68.81 GBP
10p ordinary	CFD	Long	32	68.215 GBP
10p ordinary	CFD	Long	141	67.94 GBP
10p ordinary	CFD	Long	61	69.77 GBP
10p ordinary	CFD	Long	223	69.485 GBP
10p ordinary	CFD	Long	51	69.28 GBP
10p ordinary	CFD	Long	22	68.76 GBP
10p ordinary	CFD	Long	46	70.025 GBP
10p ordinary	CFD	Long	139	70.1 GBP
10p ordinary	CFD	Long	178	68.44 GBP
10p ordinary	CFD	Long	147	68.491224 GBP
10p ordinary	CFD	Long	85	69.91 GBP
10p ordinary	CFD	Long	147	70.07 GBP
10p ordinary	CFD	Long	111	70.02 GBP
10p ordinary	CFD	Long	193	70.11 GBP
10p ordinary	CFD	Long	431	68.365 GBP
10p ordinary	CFD	Long	239	68.41 GBP
10p ordinary	CFD	Long	180	68.115 GBP
10p ordinary	CFD	Long	244	68.045 GBP
10p ordinary	CFD	Long	23	68.03 GBP
10p ordinary	CFD	Long	76	69.875 GBP
10p ordinary	CFD	Long	54	69.79 GBP
10p ordinary	CFD	Long	58	69.49 GBP
10p ordinary	CFD	Long	180	69.495 GBP
10p ordinary	CFD	Long	48	69.17 GBP
10p ordinary	CFD	Long	70	69.145 GBP
10p ordinary	CFD	Long	96	68.415 GBP
10p ordinary	CFD	Long	71	69.98 GBP
10p ordinary	CFD	Long	81	69.425 GBP
10p ordinary	CFD	Long	78	68.345 GBP
10p ordinary	CFD	Long	48	67.965 GBP
10p ordinary	CFD	Long	190	68.16 GBP
10p ordinary	CFD	Long	100	68.32 GBP
10p ordinary	CFD	Long	135	68.555037 GBP
10p ordinary	CFD	Long	142	68.615 GBP
10p ordinary	CFD	Long	130	68.575 GBP
10p ordinary	CFD	Long	44	69.945 GBP
10p ordinary	CFD	Long	64	69.685 GBP
10p ordinary	CFD	Long	96	68.165 GBP
10p ordinary	CFD	Long	42	68.085 GBP
10p ordinary	CFD	Long	43	69.705 GBP
10p ordinary	CFD	Long	96	68.55 GBP
10p ordinary	CFD	Long	60	68.095 GBP
10p ordinary	CFD	Long	201	68.075 GBP
10p ordinary	CFD	Long	398	68.395 GBP
10p ordinary	CFD	Long	627	68.335008 GBP
10p ordinary	CFD	Long	219	68.49 GBP
10p ordinary	CFD	Long	4858	69.18889 GBP
10p ordinary	CFD	Long	875	69.34444571 GBP
10p ordinary	CFD	Long	762	70.000013 GBP
10p ordinary	CFD	Long	155	69.974176 GBP
10p ordinary	CFD	Long	85888	68.9166708969821 GBP
10p ordinary	CFD	Long	4412	68.4852062556664 GBP
10p ordinary	CFD	Long	7719	136.18028815 AUD
10p ordinary	CFD	Long	2029	68.39951271 GBP
10p ordinary	CFD	Long	873	68.706975 GBP
10p ordinary	CFD	Long	2156	80.245218 EUR
10p ordinary	CFD	Long	17	78.66 EUR
10p ordinary	CFD	Long	175	69.365 GBP
10p ordinary	CFD	Long	221	69.435 GBP
10p ordinary	CFD	Long	21	69.745 GBP
10p ordinary	CFD	Long	178863	68.63502 GBP
10p ordinary	CFD	Long	30	69.775 GBP
10p ordinary	CFD	Long	137	69.7 GBP
10p ordinary	CFD	Long	45	69.75 GBP
10p ordinary	CFD	Long	34	69.735 GBP
10p ordinary	CFD	Long	128	69.405 GBP
10p ordinary	CFD	Long	8	69.55 GBP
10p ordinary	CFD	Long	38	69.275 GBP
10p ordinary	CFD	Long	143	69.53 GBP
10p ordinary	CFD	Long	26	69.185 GBP
10p ordinary	CFD	Long	94	69.36 GBP
10p ordinary	CFD	Long	44	69.31 GBP
10p ordinary	CFD	Long	112	69.465 GBP
10p ordinary	CFD	Long	76	69.37 GBP
10p ordinary	CFD	Long	21	69.385 GBP
10p ordinary	CFD	Long	105	69.255 GBP
10p ordinary	CFD	Long	81	69.4 GBP
10p ordinary	CFD	Long	28	69.41 GBP
10p ordinary	CFD	Long	95	69.51 GBP
10p ordinary	CFD	Long	35	69.3 GBP
10p ordinary	CFD	Long	828	69.195 GBP
10p ordinary	CFD	Long	14	69.24 GBP
10p ordinary	CFD	Long	30	69.15 GBP
10p ordinary	CFD	Long	48	69.97 GBP
10p ordinary	CFD	Long	48	69.525 GBP
10p ordinary	CFD	Long	74	69.48 GBP
10p ordinary	CFD	Long	39	69.515 GBP
10p ordinary	CFD	Long	122	68.565 GBP
10p ordinary	CFD	Long	75	69.645 GBP
10p ordinary	CFD	Long	34	69.39 GBP
10p ordinary	CFD	Long	91	68.605 GBP
10p ordinary	CFD	Long	133	68.67 GBP
10p ordinary	CFD	Long	102	68.27 GBP
10p ordinary	CFD	Long	92	68.055 GBP
10p ordinary	CFD	Long	222	68.505 GBP
10p ordinary	CFD	Long	18	70.085 GBP
10p ordinary	CFD	Long	105	69.115 GBP
10p ordinary	CFD	Long	10	69.05 GBP
10p ordinary	CFD	Long	148	68.07 GBP
10p ordinary	CFD	Long	115	68.39 GBP
10p ordinary	CFD	Long	178	68.555 GBP
10p ordinary	CFD	Long	80	69.935 GBP
10p ordinary	CFD	Long	15	69.68 GBP
10p ordinary	CFD	Long	66	69.62 GBP
10p ordinary	CFD	Long	121	68.955 GBP
10p ordinary	CFD	Long	121	68.705 GBP
10p ordinary	CFD	Long	49	68.42 GBP
10p ordinary	CFD	Long	80	69.595 GBP
10p ordinary	CFD	Long	111	69.52 GBP
10p ordinary	CFD	Long	128	69.045 GBP
10p ordinary	CFD	Long	109	68.585 GBP
10p ordinary	CFD	Long	133	68.405 GBP
10p ordinary	CFD	Long	153	68.305 GBP
10p ordinary	CFD	Long	41	70.14 GBP
10p ordinary	CFD	Long	82	69.42 GBP
10p ordinary	CFD	Long	138	68.56 GBP
10p ordinary	CFD	Long	180	68.23 GBP
10p ordinary	CFD	Long	80	69.825 GBP
10p ordinary	CFD	Long	128	68.025 GBP
10p ordinary	CFD	Long	149	68.135 GBP
10p ordinary	CFD	Long	74	69.855 GBP
10p ordinary	CFD	Long	89	69.355 GBP
10p ordinary	CFD	Short	2059	79.991714 EUR
10p ordinary	CFD	Short	64	69.12690031 GBP
10p ordinary	CFD	Short	2286	69.225188 GBP
10p ordinary	CFD	Short	159	69.265 GBP
10p ordinary	CFD	Short	27133	69.22943353 GBP
10p ordinary	CFD	Short	1370	68.49 GBP
10p ordinary	CFD	Short	421	79.1497460809026 EUR
10p ordinary	CFD	Short	1241	69.784842 GBP
10p ordinary	CFD	Short	271	69.861921 GBP
10p ordinary	CFD	Short	46	69.733495 GBP
10p ordinary	CFD	Short	4489	69.743797 GBP
10p ordinary	CFD	Short	592	69.482232 GBP
10p ordinary	CFD	Short	284	69.409653 GBP
10p ordinary	CFD	Short	256	69.570299 GBP
10p ordinary	CFD	Short	185	69.408251 GBP
10p ordinary	CFD	Short	28	69.560122 GBP
10p ordinary	CFD	Short	694	69.337471 GBP
10p ordinary	CFD	Short	112	69.528563 GBP
10p ordinary	CFD	Short	4444	95.15465575 USD
10p ordinary	CFD	Short	1076	69.103 GBP
10p ordinary	CFD	Short	255	80.0625431357255 EUR
10p ordinary	CFD	Short	5747	69.150675 GBP
10p ordinary	CFD	Short	523	68.442849 GBP
10p ordinary	CFD	Short	308	69.2750974 GBP
10p ordinary	CFD	Short	600	69.2631833333333 GBP
10p ordinary	CFD	Short	100	80.33 EUR
10p ordinary	CFD	Short	210	80.2050476167143 EUR
10p ordinary	CFD	Short	3752	69.68602653 GBP
10p ordinary	CFD	Short	900	68.6821 GBP
10p ordinary	CFD	Short	135	68.4914 GBP
10p ordinary	CFD	Short	6	80.351086 EUR
10p ordinary	CFD	Short	18	69.10179982 GBP
Limited Ordinary	CFD	Long	123	157.04 AUD
Limited Ordinary	CFD	Long	104371	154.452235 AUD
Limited Ordinary	CFD	Long	1703	154.067375 AUD
Limited Ordinary	CFD	Long	1700	153.777094 AUD
Limited Ordinary	CFD	Long	4529	153.107013 AUD
Limited Ordinary	CFD	Long	100	156.4597 AUD
Limited Ordinary	CFD	Long	3	156.053333 AUD
Limited Ordinary	CFD	Long	190	152.242842105263 AUD
Limited Ordinary	CFD	Long	2300	79.872055 GBP
Limited Ordinary	CFD	Long	80537	155.306897 AUD
Limited Ordinary	CFD	Long	13632	155.994867 AUD
Limited Ordinary	CFD	Long	2283	152.351677617565 AUD
Limited Ordinary	CFD	Long	3	157.023333 AUD
Limited Ordinary	CFD	Long	1000	154.582195 AUD
Limited Ordinary	CFD	Long	951	153.516257 AUD
Limited Ordinary	CFD	Long	11305	156.710763 AUD
Limited Ordinary	CFD	Long	378	156.748836 AUD
Limited Ordinary	CFD	Long	87170	153.763283 AUD
Limited Ordinary	CFD	Long	75692	153.451065 AUD
Limited Ordinary	CFD	Long	9463	152.842318503646 AUD
Limited Ordinary	CFD	Long	18219	152.145183599539 AUD
Limited Ordinary	CFD	Long	194	152.175103 AUD
Limited Ordinary	CFD	Long	12148	155.842181 AUD
Limited Ordinary	CFD	Short	6	154.283333 AUD
Limited Ordinary	CFD	Short	1519	156.357299 AUD
Limited Ordinary	CFD	Short	9	156.613333333333 AUD
Limited Ordinary	CFD	Short	74042	154.872601 AUD
Limited Ordinary	CFD	Short	24500	155.9786 AUD
Limited Ordinary	CFD	Short	354	155.853983 AUD
Limited Ordinary	CFD	Short	53418	153.849366 AUD
Limited Ordinary	CFD	Short	15688	155.667015 AUD
Limited Ordinary	CFD	Short	85313	154.445246 AUD
Limited Ordinary	CFD	Short	1163	156.713293207223 AUD
Limited Ordinary	CFD	Short	2	156.02 AUD
Limited Ordinary	CFD	Short	747	152.39046854083 AUD
Limited Ordinary	CFD	Short	735	153.778646 AUD
Limited Ordinary	CFD	Short	2083	153.786519 AUD
Limited Ordinary	CFD	Short	27860	157.04 AUD
Limited Ordinary	CFD	Short	93	154.403656 AUD
Limited Ordinary	CFD	Short	1345	152.275085 AUD
Limited Ordinary	CFD	Short	1889	155.387711628957 AUD
ADR	CFD	Long	68	94.7376 USD
ADR	CFD	Long	6	96.0117 USD
ADR	CFD	Long	1391	94.68765816 USD
ADR	CFD	Long	78	94.664423 USD
ADR	CFD	Long	87	94.3997 USD
ADR	CFD	Short	4	94.6438 USD
ADR	CFD	Short	54	95.13 USD

(i) Writing, selling, purchasing or varying

Class of relevant security
Product description e.g. call option
Writing, purchasing, selling, varying etc.
Number of securities to which option relates
Exercise price per unit
Type
e.g. American, European etc.
Expiry date
Option money paid/ received per unit

(ii) Exercise

Class of relevant security
Product description
e.g. call option
Exercising/ exercised against
Number of securities
Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security
Nature of dealing
e.g. subscription, conversion
Details
Price per unit (if applicable)

3. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none "
None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"
None

Date of disclosure:	30 January 2026
Contact name:	Richard Howard
Telephone number:	+44 (0)207 568 9128

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

Risk Warnings and Disclaimers

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REG - Perpetual Limited Rio Tinto - Form 8.3 - Rio Tinto PLC and Rio Tinto Limited

London Stock Exchange

Rio Tinto

-4.31%

RNS Number : 1329R Perpetual Limited 30 January 2026

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Full name of discloser:	Perpetual Limited and its related bodies corporate
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.	N/A
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	Rio Tinto PLC and Rio Tinto Limited
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:	N/A
(e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure	29/01/2026
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A"	Yes Glencore PLC

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	Rio Tinto PLC 10p ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	2,027,743	0.16
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	2,027,743	0.16

Class of relevant security:	Rio Tinto Limited ordinary
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	6,941,356	1.87
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	6,941,356	1.87

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit GBP
Class of relevant security	Purchase/sale	Number of securities	Price per unit AUD
Limited ordinary	Sale	-9,365	154.2029
Limited ordinary	Sale	-1,672	157.04

(b) Cash-settled derivative transactions

Class of relevant security
Product description
e.g. CFD
Nature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short position
Number of reference securities
Price per unit

(i) Writing, selling, purchasing or varying

Class of relevant security
Product description e.g. call option
Writing, purchasing, selling, varying etc.
Number of securities to which option relates
Exercise price per unit
Type
e.g. American, European etc.
Expiry date
Option money paid/ received per unit

(ii) Exercise

Class of relevant security
Product description
e.g. call option
Exercising/ exercised against
Number of securities
Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security
Nature of dealing
e.g. subscription, conversion
Details
Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"
None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"
None