Turquoise Hill Announces extension of the proxy deadline for the Special Meeting to 6

00 p.m. (Eastern time) October 31, 2022 - Seite 2

Turquoise Hill Board Recommendation To Vote FOR the Arrangement Resolution

On the unanimous recommendation of a special committee of the Board of Directors of the Company (the “Board”) consisting entirely of independent directors, the Board, unanimously determined that the Arrangement is in the best interests of the Company and is fair from the financial perspective to the holders of Minority Shares (the “Minority Shareholders”) and therefore recommends that the Minority Shareholders vote FOR the Arrangement Resolution.

Leading Independent Proxy Advisory Firms Glass Lewis and Egan Jones Recommend Shareholders vote FOR the Arrangement Resolution

How To Vote

If you are a registered shareholder, we are asking you to take two actions.

First, your vote is important regardless of how many shares you own. Shareholders are encouraged to vote in advance of the Special Meeting. If you are a registered shareholder, whether or not you plan to attend the Special Meeting, to vote your shares at the Special Meeting, you can either return a duly completed and executed form of proxy to the Company’s transfer agent, TSX Trust Company (the “Transfer Agent”), Proxy Department, by mail at: TSX Trust Company, 1200-1 Toronto Street, Toronto, Ontario M5C 2V6, or TST Trust Company, 1600‑2001 Robert-Bourassa Blvd., Montreal, Quebec H3A 2A6, or via the internet at www.tsxtrust.com/vote-proxy not later than 6:00 p.m. (Eastern time) on October 31, 2022. If you hold shares through a broker, investment dealer, bank, trust company or other intermediary (a “Beneficial Shareholder”), you should follow the instructions provided by your intermediary to ensure your vote is counted at the Special Meeting.

Second, if the Arrangement is approved and completed, before Rio Tinto can issue the consideration for your shares, the depositary will need to receive the applicable letter of transmittal completed by you, together with the certificates representing the shares and any additional documents that may be required. Registered shareholders must complete, sign, date and return the letter of transmittal enclosed with the Circular. If you are a Beneficial Shareholder, you will receive payment for your shares through your broker, custodian or other intermediary if the Arrangement is completed.