Rio Tinto PLC Confirms Support For Ivanhoe Mines Ltd Comprehensive Financing Package And Agrees To Amend Certain Terms Of Memorandum Of Agreement

Rio Tinto PLC and Ivanhoe Mines Ltd. announced that they have agreed to amend certain terms of the memorandum of agreement announced made earlier, under which Rio Tinto has agreed to support and provide certain elements of a comprehensive funding package for Ivanhoe. Amendments to the agreement include: Rio Tinto confirming it will take up its full basic subscription privilege under the USD1.8 billion rights offering with respect to its 51% shareholding in Ivanhoe; Rio Tinto agreeing to eliminate the material adverse change condition for its standby commitment in relation to a decline in Ivanhoe's share price; Rio Tinto continuing to provide a standby commitment for the full amount of the USD1.8 billion rights offering, subject to certain conditions including the price for Ivanhoe's common shares on the NYSE not falling below the subscription price at any time on or after the fifth business day before the expiry of the rights. Under the standby commitment, Rio Tinto is required to acquire any Ivanhoe common shares not taken up under the rights offering; Removing the previously announced USD8.34 subscription price for the rights offering. Rio Tinto and Ivanhoe have agreed to price the rights offering in the final prospectus; In consideration of eliminating the material adverse change clause for a decline in Ivanhoe's share price, re-pricing the exercise price of the Series D Warrants to USD10.84 per share, subject to adjustment upon completion of the rights offering.