Newmont Achieves 2022 Guidance; Provides Stable 2023 and Improving Longer-Term Outlook; Declares $0.40 Fourth Quarter Dividend

About this update from Newmont Corporation

[{"type":"text","content":"DENVER / Feb 23, 2023 / Business Wire / Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced fourth quarter and full year 2022 results, as well as its 2023 and longer-term outlook. Achieved 2022 Guidance, Safely Delivered on our Commitments Produced 6.0 million gold ounces and 1.3 million gold equivalent ounces from copper, silver, lead and zinc; achieved original production guidance range set in December 2021 Gold all-in sustaining costs* were $1,211 per ounce, in-line with updated guidance range despite global cost pressures throughout the year Generated $1.1 billion in free cash flow* after $2.7 billion of meaningful reinvestment into the business to advance our most profitable near-term projects Safely delivered on our commitments and remained focused on fatality risk management; recognized as the Top Miner in the 2022 Dow Jones Sustainability Index for our unwavering commitment to leading ESG practices Announced 2023 and Longer-Term Outlook; Underpinned by Strong Gold Production and Improving Costs** As previously signaled, 2023 production guidance is expected to be between 5.7 and 6.3 million gold ounces; steadily improves longer-term, driven by strong production from world-class assets and an unmatched project pipeline Gold all-in sustaining costs* are expected to be between $1,150 and $1,250 per ounce in 2023; incorporates an additional 3% of cost inflation compared to 2022, which is expected to be largely offset by Full Potential cost efficiencies Sustaining capital spend of $1.0 to $1.2 billion in 2023; remaining steady across the five-year period Development capital spend of $1.2 to $1.4 billion in 2023; meaningful reinvestment to strengthen our global portfolio 2023 Dividend Payout Range Established Within Industry-Leading Framework*** Provides a sustainable base dividend of $1.00 per share; at base reserves price of $1,400 per ounce Incremental dividend payout of $0.40 to $0.80 per share; calibrated at $1,700 per ounce and incorporating free cash flow impacts from industry-wide inflationary pressures and a period of meaningful reinvestment Annualized dividend payout range of $1.40 to $1.80 per share***; subject to quarterly approval by Board of Directors Declared fourth quarter 2022 dividend of $0.40 per share****; set at the midpoint of the 2023 dividend payout range \"Newmont safely d...

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