Newmont Corporation · NYSE:NEM
Newmont — Investor Presentation (April 2025)
51 slides from Newmont's investor presentation, April 2025
Slide 1: Investor Presentation April 2025
Investor Presentation APRIL 2025 INVESTOR PRESENTATION – APRIL 2025 NEWMONT CORPORATION 1
Slide 2: Cautionary Statement Regarding Forward Looking Statements, Including Guidance Assumptions, and Notes
Cautionary Statement Regarding Forward Looking Statements, Including Guidance Assumptions, and Notes This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended
Slide 3: Q1 2025 Performance
Q1 2025 Performance INVESTOR PRESENTATION – APRIL 2025 NEWMONT CORPORATION 3
Slide 4: Q1 2025 Highlights
Q1 2025 Highlights Remain on Track to Deliver on Full-Year Commitments Strengthened Focused on Completed SAFETY CULTURE STABLE OPERATIONS DIVESTITURE PROGRAM Increased focus on visible Delivered 1.5Moz of gold and 35kt Exceeded target and generated leadership in the field of copper from full portfol
Slide 5: First Quarter Portfolio Momentum
First Quarter Portfolio Momentum CADIA TANAMI BODDINGTON Transitioning to next panel cave (PC2-3), resulting in Progressing second expansion and remain on track to Continuing stripping campaign in the North and lower grades in H2 2025 as planned access higher-grade stopes in H2 2025 as planned
Slide 6: Q1 2025 Financial Performance
Q1 2025 Financial Performance Remain on Track to Deliver on Full-Year Commitments ADJUSTED GAAP ADJUSTED NET AVERAGE REALIZED EBITDA* NET INCOME INCOME* GOLD PRICE $2.6B $1.68/sh. $1.25/sh. $2,944/oz CASH FROM FREE CASH & CASH GOLD ALL-IN OPERATIONS CASH FLOW* EQUIVALENTS SUSTAINING COST* $2.0B $1.2
Slide 7: Shareholder-Focused Capital Allocation Strategy
Shareholder-Focused Capital Allocation Strategy Q1 2025 TARGETS Cash $4.7B Maintaining financial flexibility with cash above $3.0B target STRONG & FLEXIBLE BALANCE SHEET Debt* $7.8B Achieved target of up to $8.0B, assessing opportunities to reduce further Sustaining Capital ** $459M ~$1.8B in 2025,
Slide 8: Leveraging Tier 1 Portfolio Strength
Leveraging Tier 1 Portfolio Strength Remain on track to achieve 2025 guidance with first quarter results in line with indications Completed divestiture program and finalized the sale of all six non-core operations announced in February 2024 * Generated strong free cash flow from stable operational p
Slide 9: Tier 1 Portfolio
Tier 1 Portfolio INVESTOR PRESENTATION – APRIL 2025 NEWMONT CORPORATION 9
Slide 10: Unrivaled Portfolio of Tier 1 Assets
Unrivaled Portfolio of Tier 1 Assets LAST 12 MONTHS (LTM) GEO PRODUCTION FROM TIER 1 ASSETS (koz) Assets Managed by Precious Metals Producers Managed Operation 1,500 Non-Managed Joint Venture Equity Ownership 1,200 900 600 Pueblo Viejo* Boddington Peñasquito Turquoise 300 Fruta del Norte** Cortez* T
Slide 11: Unparalleled Assets in Top Mining Jurisdictions
Unparalleled Assets in Top Mining Jurisdictions MANAGED OPERATIONS ASIA PACIFIC Lihir NORTH AMERICA 11 Boddington Brucejack Located in the world’s most favorable Cadia mining jurisdictions Red Chris Cadia Panel Caves Nevada Gold Mines JV* Tanami Tanami Expansion 2 PROJECTS IN EXECUTION 3 LATIN AMERI
Slide 12: Robust Gold & Copper Reserves and Resources
Robust Gold & Copper Reserves and Resources Ghana 7% North America Asia Pacific 15% 37% Asia Pacific 46% North America 24% GOLD COPPER 134 Moz Reserves 14 Mt Reserves + + 170 Moz Resources * 25 Mt Resources * Latin America Latin America 32% 39% Raised Reserve Pricing to $1,700/oz, 17% Below the 3 Ye
Slide 13: Non-Core Divestiture Program Complete
Non-Core Divestiture Program Complete Up to $3.8B in Total Gross Proceeds, Including >$3.0B in Cash* CASH PROCEEDS AT CLOSE* ADDITIONAL PROCEEDS TIMING OF CLOSE TELFER** $219M 2.7B Greatland Gold shares, valued at >$370M*** Closed on December 4, 2024 Western Australia After purchase price adjustment
Slide 14: Sustainability
Sustainability INVESTOR PRESENTATION – APRIL 2025 NEWMONT CORPORATION 14
Slide 15: The Gold Sector's Recognized Sustainability Leader
The Gold Sector’s Recognized Sustainability Leader S&P GLOBAL CSA SUSTAINALYTICS TRANSPARENCY CLIMATE 99% 27 #1 A- Percentile ranking global ESG Risk Rating measures exposure and Most transparent company in S&P 500; CDP Climate score reflective metals and mining sector management of material ESG ris
Slide 16: Significant Milestones in Our Sustainability Journey
Significant Milestones in Our Sustainability Journey 2001 2004 2007 2013 2016 2020 Founding member of Established Safety & Appointed Adopted Conflict-Free Sustainability and Implementing Global ICMM Sustainability Board Company’s first Chief Gold Standard safety targets Industry Standard on committe
Slide 17: 2024 Environmental and Social Targets
2024 Environmental and Social Targets 1,2 Committed to Safety, Human Rights, Value Sharing, and Environmental Stewardship ENVIRONMENTAL TARGETS SOCIAL TARGETS Climate Safety • To achieve the following by 2030*: • Zero fatalities 1. Reduce absolute GHG emissions (Scope 1 and 2) by 32% 2. Reduce GHG e
Slide 18: Governance Underpins Sustainability Strategy
Governance Underpins Sustainability Strategy SUSTAINABILITY GOVERNANCE AT NEWMONT 2025 ANNUAL INCENTIVE PLAN Board of Directors Oversight, advice and counsel on key sustainability matters 20% Health & Safety Dedicated Safety & Sustainability Committee SPE Frequency Rate (14%) Fatality Risk M
Slide 19: Broad Management Experience
Broad Management Experience EXECUTIVE LEADERSHIP TEAM BOARD OF DIRECTORS INVESTOR PRESENTATION – APRIL 2025 NEWMONT CORPORATION 19
Slide 20: Operating Sites
Operating Sites INVESTOR PRESENTATION – APRIL 2025 NEWMONT CORPORATION 20
Slide 21: Boddington: Site Facts
Boddington: Site Facts A Cornerstone Gold-Copper Mine in Western Australia 16km from the rural farming town of Boddington and 130km LOCATION from Western Australia’s capital city, Perth 16 Year Reserve Life with upside from Resources and Exploration RESERVES & 10.8Moz Gold Reserves 4.3Moz Gold Resou
Slide 22: Tanami: Site Facts
Tanami: Site Facts Underground Mine in the Northern Territory of Australia In the remote Tanami Desert of Australia, 550 km northwest of LOCATION Alice Springs in the Northern Territory of Australia RESERVES & 12 Year Reserve Life with upside from Resources and Exploration RESOURCES* 5.1Moz Gold Res
Slide 23: Cadia: Site Facts
Cadia: Site Facts One of the World’s Largest Tier 1 Gold-Copper Mines LOCATION 25km from the city of Orange in New South Wales, Australia 35 Year Reserve Life with upside from Resources and Exploration 14.1Moz Gold Reserves 19.5Moz Gold Resources RESERVES & 3.1Mt Copper Reserves 4.2Mt Copper Resourc
Slide 24: Lihir: Site Facts
Lihir: Site Facts World-Class Gold Mine in Papua New Guinea with Upside Potential Geothermally active extinct volcanic crater on Niolam Island, LOCATION located 900km from Port Moresby in Papua New Guinea 16 Year Reserve Life with upside from Resources and Exploration RESERVES & RESOURCES* 15.8Moz G
Slide 25: Ahafo Complex: Site Facts
Ahafo Complex: Site Facts Setting the Benchmark for Mine Development and District Expansion Ahafo South is located approximately 290km northwest of Accra, LOCATION the capital city of Ghana; the Ahafo North project is located about 30km from the Ahafo South operation AHAFO SOUTH AHAFO NORTH RESERVES
Slide 26: Peñasquito: Site Facts
Peñasquito: Site Facts Polymetallic Mine in Mexico with Gold, Silver, Lead, and Zinc Production LOCATION 200km northeast of the city of Zacatecas in Mexico 8 Year Reserve Life with upside from Resources and Exploration RESERVES & 4.1Moz Gold Reserves 1.7Moz Gold Resources 253.3Moz Silver Reserves RE
Slide 27: Cerro Negro: Site Facts
Cerro Negro: Site Facts Emerging Tier 1 Asset in Argentina 600 meters above sea level on the low Patagonian plains in LOCATION southern Argentina 11 Year Reserve Life with upside from Resources and Exploration RESERVES & 3.2Moz Gold Reserves 1.7Moz Gold Resources RESOURCES* 21.4Moz Silver Reserves 8
Slide 28: Yanacocha: Site Facts
Yanacocha: Site Facts 30+ Year History of Profitable Production in Peru In the province and department of Cajamarca, about 800km LOCATION northeast of Lima in Peru 22 Year Reserve Life with upside from Resources and Exploration RESERVES & 5.3Moz Gold Reserves 8.2Moz Gold Resources RESOURCES* 700kt C
Slide 29: Merian: Site Facts
Merian: Site Facts Emerging Tier 1 Asset in Suriname Approximately 66km south of the town of Moengo and 30km LOCATION north of the Nassau Mountains near the French Guiana RESERVES & 18 Year Reserve Life with upside from Resources and Exploration RESOURCES* 4.1Moz Gold Reserves 4.2Moz Gold Resources
Slide 30: Brucejack: Site Facts
Brucejack: Site Facts Building a Tier 1 District in British Columbia’s Golden Triangle Approximately 950km Northwest of Vancouver in the Golden LOCATION Triangle of British Columbia in Canada 7 Year Reserve Life with upside from Resources and Exploration RESERVES & 1.9Moz Gold Reserves 3.7Moz Gold R
Slide 31: Red Chris: Site Facts
Red Chris: Site Facts Building a Tier 1 District in British Columbia’s Golden Triangle Approximately 80km south of Dease Lake in the Golden Triangle LOCATION of British Columbia in Canada 26 Year Reserve Life with upside from Resources and Exploration RESERVES & 3.7Moz Gold Reserves 4.4Moz Gold Reso
Slide 32: Nevada Joint Venture Processes
Nevada Joint Venture Processes For contributing excluded assets Four Mile (Barrick), Fiberline (Newmont) and Mike (Newmont): Party that owns asset has obligation to contribute upon completion of successful Feasibility Study, which requires a project IRR of at least 15% Feasibility Study must be
Slide 33: Appendix
Appendix
Slide 34: Underpinned by Robust Gold Reserves
Underpinned by Robust Gold Reserves PROVEN & PROBABLE GOLD RESERVES (Moz) 200 Raised reserve pricing to $1,700/oz Cost escalation assumptions updated to reflect current macroeconomic environment 175 Additions primarily from drilling 150 7.0 2.9 (3.9) 125 135.9 (7.8) 134.1 (8.8) 125.3 Revisio
Slide 35: Steady Production Driven by Managed Operations
Steady Production Driven by Managed Operations ATTRIBUTABLE GOLD PRODUCTION FROM CORE PORTFOLIO (koz)** Injection leaching at Yanacocha 6,400 Outperformance driven by strong grades from Strong grades Peñasquito Cadia, Ahafo, and Peñasquito Higher production from Nevada Gold Mines and Pueblo
Slide 36: Focused on Reducing Unit Costs Beyond 2025
Focused on Reducing Unit Costs Beyond 2025 GOLD ALL-IN SUSTAINING COSTS FROM CORE PORTFOLIO (koz)** $2,100 Higher sustaining capital at Nevada Gold Mines and Merian Lower sales volume from Cadia, Ahafo, Boddington, and Tanami Higher costs for contracted services, primarily at Lihir Higher su
Slide 37: Direct Operating Costs by Category
Direct Operating Costs by Category* Newmont’s Core Portfolio 3% Other 8% 4% Chemicals, Other 25% 5% Reagents, & 7% Newmont Liners & Explosives Diesel Employees Wear Parts 50% 30% 15% Materials & Fuel & Energy Labor Costs Consumables Costs 25% 7% 7% Contracted Maintenance Consumables Services Parts 4
Slide 38: Basis for 2025 Guidance
Basis for 2025 Guidance PRICING ASSUMPTIONS AND SENSITIVITIES (as of February 20, 2025) ASSUMPTION CHANGE (-/+) REVENUE IMPACTS ($M)*** Gold ($/oz)* $2,500 $100 $517 Copper ($/tonne)** $9,370 $550 $65 Silver ($/oz) $30.00 $1.00 $25 Lead ($/tonne)** $2,094 $220 $20 Zinc ($/tonne)** $2,756 $220 $50 AS
Slide 39: Stable & Disciplined 2025 Guidance
Stable & Disciplined 2025 Guidance* Driving Safety, Cost, & Productivity Improvements MANAGED NON-MANAGED TOTAL TIER 1 As of February 20, 2025 OPERATIONS OPERATIONS*** PORTFOLIO Gold Production** 4.2Moz 1.4Moz 5.6Moz Gold CAS $1,170/oz $1,240/oz $1,180/oz Gold AISC* $1,630/oz $1,555/oz $1,620/oz Sus
Slide 40: 2025 Site Guidance as of February 20, 2025
2025 Site Guidancea as of February 20, 2025 Consolidated Attributable Attributable Consolidated Attributable Consolidated CAS All-In Sustaining Sustaining Capital Development Capital 2025 Guidance Production (Koz) Production (Koz) ($/oz) Costsb ($/oz) Expenditures ($M) Expenditures ($M) a 2025 guida
Slide 41: 2025 Consolidated Expense and Capital Guidance
2025 Consolidated Expense and Capital Guidance GUIDANCE METRIC (+/-5%) 2025E Sustaining Capital ($M) Managed Tier 1 Portfolio $1,530 Non-Managed Tier 1 Portfolio $270 Total Tier 1 Portfolio $1,800 Non-Core Assets* $75 Total Newmont Sustaining Capital* $1,875 Development Capital ($M) Managed Tier 1 P
Slide 42: Adjusted net income (loss)
Adjusted net income (loss) Net income (loss) attributable to Newmont stockholders is reconciled to Adjusted net income (loss) as follows: Three Months Ended (1) Per share measures may not recalculate due to rounding. March 31, 2025 (2) Primarily represents unrealized gains and losses related to the
Slide 43: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA Net income (loss) attributable to Newmont stockholders is reconciled to EBITDA and Adjusted EBITDA as follows: Three Months Ended (1) Primarily represents unrealized gains and losses related to the Company's investments in current and non-current marketable and other equit
Slide 44: Free cash flow
Free cash flow The following table sets forth a reconciliation of Free Cash Flow, a non-GAAP financial measure, to Net cash provided by (used in) operating activities, which the Company believes to be the GAAP financial measure most directly comparable to Free Cash Flow, as well as information regar
Slide 45: Costs Applicable to Sales
Costs Applicable to Sales Costs applicable to sales per ounce/gold equivalent ounce are calculated by dividing the costs applicable to sales of gold and other metals by gold ounces or gold equivalent ounces sold, respectively. These measures are calculated for the periods presented on a consolidated
Slide 46: All-in Sustaining Costs
All-in Sustaining Costs All-in sustaining costs represent the sum of certain costs, recognized as GAAP financial measures, that management considers to be associated with production. All-in sustaining costs per ounce amounts are calculated by dividing all-in sustaining costs by gold ounces or gold e
Slide 47: Gold All-in Sustaining Costs - 2025 Guidance
Gold All-in Sustaining Costs - 2025 Guidance A reconciliation of the 2025 Gold AISC outlook to the 2025 Gold CAS outlook is provided below. For more details, refer to the Company’s Fourth Quarter 2024 Earnings and 2025 Guidance press release, issued on February 20, 2025, and available on Newmont.com
Slide 48: Endnotes
Endnotes Investors are encouraged to read the information contained in this presentation in conjunction with Newmont’s Form 10-Q for the quarter ended March 31, 2025, expected to be filed on April 24, 2025. Investors are reminded that expectations regarding outlook and guidance, including future fin
Slide 49: Endnotes
Endnotes Dividend. Our future dividends, beyond the dividend declared for the first quarter 2025, have not yet been approved or declared by the Board of Directors. An annualized dividend payout level has not been declared by the Board and is non-binding. The Company’s dividend framework and expected
Slide 50: Endnotes
Endnotes Cautionary Statement Regarding Mineral Reserve and Resource Estimates. The mineral reserve and resource estimates herein with respect to Newmont represent estimates at December 31, 2024, which could be economically and legally extracted or produced at the time of their determination. Estima
Slide 51: Investor Relations Contact
INVESTOR RELATIONS CONTACT EMAIL: Investor.Relations@newmont.com PHONE: +1 (303) 837-5002 INVESTOR PRESENTATION – APRIL 2025 NEWMONT CORPORATION 51