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GLN - Statement regarding Rio Tinto
Glencore plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration
number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
ISIN: JE00B4T3BW64
LEI: 2138002658CPO9NBH955
Baar, Switzerland
9 January 2026
Statement regarding Rio Tinto
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO
OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION
OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON
TAKEOVERS AND MERGERS (THE "CODE") AND IS NOT AN ANNOUNCEMENT OF A
FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE AND THERE
CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE NOR AS TO THE TERMS OF
ANY SUCH OFFER
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
Glencore notes recent media speculation and confirms that it is in preliminary discussions with Rio Tinto
plc and Rio Tinto Limited (together, "Rio Tinto") about a possible combination of some or all of their
businesses, which could include an all-share merger between Rio Tinto and Glencore. The parties' current
expectation is that any merger transaction would be effected through the acquisition of Glencore by Rio
Tinto by way of a Court-sanctioned scheme of arrangement.
There is no certainty that the terms of any transaction or offer will be agreed, nor as to the terms or
structure of any such transaction or offer, if agreed. Nothing in this announcement shall be construed as
indicating any terms of any such transaction or offer for the purposes of Rule 2.5 of the Code.
A further announcement will be made as appropriate.
In accordance with Rule 2.6(a) of the Code, Rio Tinto is required, by not later than 5.00 p.m. on 5
February 2026, to either announce a firm intention to make an offer for Glencore in accordance with Rule
2.7 of the Code or announce that it does not intend to make an offer for Glencore, in which case the
announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will be
extended only with the consent of the Panel in accordance with Rule 2.6(c) of the Code.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant
securities of an offeree company or of any securities exchange offeror (being any offeror other than an
offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must
make an Opening Position Disclosure following the commencement of the offer period and, if later,
following the announcement in which any securities exchange offeror is first identified. An Opening
Position Disclosure must contain details of the person's interests and short positions in, and rights to
subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange
offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no
later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period
and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the
announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the
relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for
making an Opening Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of
relevant securities of the offeree company or of any securities exchange offeror must make a Dealing
Disclosure if the person deals in any relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's
interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree
company and (ii) any securities exchange offeror(s). A Dealing Disclosure by a person to whom Rule
8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date
of the relevant dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or
informal, to acquire or control an interest in relevant securities of an offeree company or a securities
exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing
Disclosures must also be made by the offeree company, by any offeror and by any persons acting in
concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose relevant securities Opening Position
Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover
Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in
issue, when the offer period commenced and when any offeror was first identified. You should contact the
Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are
required to make an Opening Position Disclosure or a Dealing Disclosure.
Given the dual listed companies structure of Rio Tinto plc and Rio Tinto Limited, each of Rio Tinto plc and
Rio Tinto Limited will be treated separately for the purposes of Rule 8 and the required disclosures.
Inside Information
This announcement contains inside information as stipulated under the Market Abuse Regulation no
596/2014 (incorporated into UK law by virtue of the European Union (Withdrawal) Act 2018 as amended
by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019). Upon the publication of this
announcement via a regulatory information service, this inside information is now considered to be in the
public domain.
This announcement is authorised for release to the market by Shaun Teichner, Glencore's General
Counsel.
Rule 26.1 disclosure
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available (subject to
certain restrictions relating to persons resident in restricted jurisdictions) on Glencore's website at
www.glencore.com by no later than 12 noon (London time) on the business day following the date of this
announcement. The content of that website is not incorporated into, and does not form part of, this
announcement.
Rule 2.9 information
In accordance with Rule 2.9 of the Code, Glencore confirms that as at the date of this announcement, it
has 11,743,755,559 ordinary shares of US$0.01 each in issue (excluding 1,268,109,041 ordinary shares of
US$0.01 each held in treasury). The ordinary shares are listed on the Main Market of the London Stock
Exchange with a secondary listing on the Johannesburg Stock Exchange. The International Securities
Identification Number (ISIN) of the ordinary shares is JE00B4T3BW64.
Additional information
This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the
solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any
securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or
otherwise. Any offer, if made, will be made solely by certain offer documentation which will contain the
full terms and conditions of any offer, including details of how it may be accepted. The distribution of this
announcement in jurisdictions other than the United Kingdom and the availability of any offer to
shareholders of Glencore who are not resident in the United Kingdom may be affected by the laws of
relevant jurisdictions. Therefore any persons who are subject to the laws of any jurisdiction other than the
United Kingdom or shareholders of Glencore who are not resident in the United Kingdom will need to
inform themselves about, and observe, any applicable requirements.
Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 09-01-2026 07:05:00
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