Slide 1: Fourth Quarter & Full Year 2024 Results
Fourth Quarter & Full Year 2024 Results FEBRUARY 20, 2025 FOURTH QUARTER & FULL YEAR 2024 RESULTS 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: Committed to Safe Operations
Committed to Safe Operations REVIEWING & REFRESHING KEY SAFETY PROGRAMS Strengthening a safety culture that empowers everyone working at Newmont to make the right choices for safe and productive work Simple and well-governed safety systems that reduce complexity and increase flexibility Improving in
Slide 4: 2024: A Transformational Year
2024: A Transformational Year Focused on Integration, Rationalization, & Stabilization Completed Progressed Stabilized Returned Capital to Strengthened INTEGRATION DIVESTITURES PRODUCTION SHAREHOLDERS BALANCE SHEET Completed asset discovery Agreements in place to divest Delivered 6.8Moz of gold Retu
Slide 5: Leveraging the Value of Our Tier 1 Portfolio
Leveraging the Value of Our Tier 1 Portfolio Driving Safety, Cost & Productivity Improvements SAFETY COSTS & STABLE CULTURE PRODUCTIVITY OPERATIONS Simple, well-governed systems and Cost and productivity initiatives to Committed to predictable standards to guide safe operations drive down long-term
Slide 6: 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 7: 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 8: 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 $1,700/oz, 17% Below the 3 Ye
Slide 9: Cadia: Large Gold-Copper Mine
Cadia: Large Gold-Copper Mine INDUSTRY LEADER IN BLOCK CAVING AUTOMATION 35-year reserve life with upside from resources and ongoing exploration Ongoing investment phase as Cadia establishes new draw points for PC2-3 and progresses underground development for PC1 -2 Investing in long-term tailings s
Slide 10: Production Growth from Investments in Tier 1 Portfolio
Production Growth from Investments in Tier 1 Portfolio Focused on Safe Operations and Meeting Guidance Commitments CADIA LIHIR PEÑASQUITO ▪ Continue transition to newly-established panel cave, ▪ Creating stability in the mine and processing plant ▪ Accessing higher gold grades in 2025 following driv
Slide 11: Building Momentum from Projects in Execution
Building Momentum from Projects in Execution Ahafo North Tanami Expansion 2 Cadia Panel Caves New mine with a 13-year life and ~300koz of average 1.5km deep production shaft, significantly reducing Two caves to recover 5.9 Mozs of gold reserves and 1.3 annual production operating costs and improving
Slide 12: Gold Price and Investment Cycle Dynamics
Gold Price and Investment Cycle Dynamics Gold All-in Sustaining Costs (AISC) from Core Portfolio ($/oz)* ~ $44 ~ $35 ~ $10 ~ $40 ~ $30 $1,700/oz $2,500/oz 3% Escalation $1,620 Gold Price +$300M/yr. Reserve Price Production taxes, royalties, and Assumed for direct costs 2025E Gold AISC/oz and G&A ~80
Slide 13: Cost & Productivity Program
Cost & Productivity Program Unlocking the Tier 1 Potential of Our Portfolio G&A REDUCTION Costs Basis to Match Our Go-Forward Portfolio PORTFOLIO RATIONALIZATION COMMERCIAL POTENTIAL Buy Better, Sell Better, Ship Better Complete Divestments OPERATIONAL PRODUCTIVITY Predictable, Stable Production Str
Slide 14: 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 15: Shareholder-Focused Capital Allocation Strategy Unchanged
Shareholder-Focused Capital Allocation Strategy Unchanged Tier 1 Portfolio 2024A TARGETS Cash $3.6B Maintaining financial flexibility with cash above $3.0B target STRONG & FLEXIBLE BALANCE SHEET Debt* $7.6B Investment-grade balance sheet with debt below $8.0B target Sustaining Capital ** $1.5B Antic
Slide 16: Leveraging the Value of a Tier 1 Portfolio
Leveraging the Value of a Tier 1 Portfolio Longer 2024 2025 Term ▪ Completed integration, ▪ Driving safety, cost ▪ Deliver profitable and rationalization, and and productivity sustainable stabilization improvements production ▪ Established foundation ▪ Committed to ▪ Average of ~6Moz of positioning
Slide 17: Appendix
Appendix
Slide 18: 2024 Results & 2025 Guidance
2024 Results & 2025 Guidance FOURTH QUARTER & FULL YEAR 2024 RESULTS NEWMONT CORPORATION 18
Slide 19: Non-Core Divestiture Program Progress
Non-Core Divestiture Program Progress On-Track to Complete Transactions as of February 2025 CASH PROCEEDS AT CLOSE* ADDITIONAL PROCEEDS TIMING OF CLOSE TELFER** $219M 2.7B Greatland Gold shares, valued at >$200M *** Closed on December 4, 2024 Western Australia After purchase price adjustments Up to
Slide 20: 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 21: 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 22: Focused on Reducing Unit Costs Beyond 2025
Focused on Reducing Unit Costs Beyond 2025 GOLD ALL-IN SUSTAINING COSTS FROM CORE PORTFOLIO (koz)** $2,100 ▪ Higher sustaining capital at Nevada Gold Mines and Merian ▪ Lower sales volume from Cadia, Ahafo, Boddington, and Tanami ▪ Higher costs for contracted services, primarily at Lihir ▪ Higher su
Slide 23: Direct Operating Costs by Category
Direct Operating Costs by Category* Newmont’s Core Portfolio 3% Other 8% 4% Chemicals, Other 25% 5% Reagents, & 7% Newmont Liners & Explosives Diesel Employees Wear Parts 50% 30% 15% Materials & Fuel & Energy Labor Costs Consumables Costs 25% 7% 7% Contracted Maintenance Consumables Services Parts 4
Slide 24: Basis for 2025 Guidance
Basis for 2025 Guidance PRICING ASSUMPTIONS AND SENSITIVITIES (as of February 20, 2025) REVENUE & COST ASSUMPTION CHANGE (-/+) IMPACTS ($M)*** Gold ($/oz)* $2,500 $100 $517 Australian Dollar $0.70 $0.05 $160 Canadian Dollar $0.75 $0.05 $45 Oil ($/bbl WTI) $80 $10 $68 Copper ($/tonne)** $9,370 $550 $
Slide 25: 2025 Site Guidance
2025 Site Guidancea 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 guidance projections are cons
Slide 26: 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 27: Operating Sites
Operating Sites FOURTH QUARTER & FULL YEAR 2024 RESULTS NEWMONT CORPORATION 27
Slide 28: 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 29: 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 30: 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 31: 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 32: 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 33: 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 34: 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 35: 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 36: 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 37: 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 38: 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 39: 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 40: Non-GAAP Reconciliations & Endnotes
Non-GAAP Reconciliations & Endnotes FOURTH QUARTER & FULL YEAR 2024 RESULTS NEWMONT CORPORATION 40
Slide 41: Free Cash Flow
Free Cash Flow Management uses Free Cash Flow as a non-GAAP measure to analyze cash flows generated from operations. Free Cash Flow is Net cash provided by (used in) operating activities less Net cash provided by (used in) operating activities of discontinued operations less Additions to property, p
Slide 42: Costs Applicable to Sales
Costs Applicable to Sales Costs applicable to sales per ounce/gold equivalent ounce are non-GAAP financial measures. These measures 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 calcul
Slide 43: All-in Sustaining Costs
All-in Sustaining Costs Advanced Projects, Sustaining Costs Research and Treatment Capital and All-In Applicable Development and Lease All-In Ounces Sustaining (1) Excludes Depreciation and amortization and Reclamation and remediation. Year Ended to Reclamation and General and Other Refining Related
Slide 44: Gold All-in Sustaining Costs - 2025 Guidance
Gold All-in Sustaining Costs - 2025 Guidance A reconciliation of the 2025 Gold AISC guidance to the 2025 Gold CAS guidance is provided below. The estimates in the table below are considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Slide 45: Endnotes
Endnotes Investors are encouraged to read the information contained in this presentation in conjunction with Newmont’s Form 10-K for the year ended December 31, 2024, expected to be filed on, or about, February 21, 2025. Investors are reminded that expectations regarding outlook and guidance, includ
Slide 46: Endnotes
Endnotes Portfolio Rationalization. The announced portfolio rationalization includes expected asset divestitures and expected portfolio re-sequencing and thus are expectations and thus “forward-looking statements” subject to risks, uncertainties and other factors which may cause such divestitures to
Slide 47: 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