Slide 1: First Quarter 2022 Earnings
First Quarter 2022 Earnings CREATING VALUE & IMPROVING LIVES APRIL 22, 2022 THROUGH SUSTAINABLE, RESPONSIBLE MINING FIRST QUARTER 2022 EARNINGS NEWMONT CORPORATION 1
Slide 2: Cautionary Statement
Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS: 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, which are intended
Slide 3: Tom Palmer
Tom Palmer CREATING VALUE & IMPROVING LIVES PRESIDENT & CHIEF EXECUTIVE OFFICER THROUGH SUSTAINABLE, RESPONSIBLE MINING FIRST QUARTER 2022 EARNINGS NEWMONT CORPORATION 3
Slide 4: First Quarter 2022 Highlights
First Quarter 2022 Highlights Remain on track to achieve full-year Generated $689M of cash from guidance ranges despite pandemic- operations and $252M of Free Cash related impacts Flow** Produced 1.3M attributable ounces of Liquidity of $7.3B and net debt gold* and 350k GEOs from co-products to adju
Slide 5: Managing Near-Term Covid Challenges
Managing Near-Term Covid Challenges WEEKLY POSITIVE COVID CASES AT GLOBAL OPERATIONS * Q1 RESULTS IMPACTED BY OMICRON SURGE 1,200 OMICRON VARIANT 1,000 Majority of global workforce has been fully-vaccinated; severity of positive cases in Q1 has been low 800 Productivity impacted by labor 600 availab
Slide 6: Steady Production Through Industry-Best Portfolio
Steady Production Through Industry-Best Portfolio INDICATIVE 10-YEAR PRODUCTION PROFILE* (Attributable Moz per Year) 10 9 Total GEO Production** 8 Gold Production** 7 6 SOUTH AMERICA*** 5 AFRICA 4 3 AUSTRALIA 2 NORTH AMERICA*** 1 - 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 ~8 Million Gold Eq
Slide 7: World-Class Assets in Top-Tier Jurisdictions
World-Class Assets in Top-Tier Jurisdictions #1 GOLD WORLD-CLASS TOP-TIER PRODUCER ASSETS JURISDICTIONS MUSSELWHITE ~8M 9 ~90% Stable annual GEO production World-class assets in top-tier Attributable gold production ÉLÉONORE through 2031+ jurisdictions* from top-tier jurisdictions ROBUST GOLD UPSIDE
Slide 8: Project Pipeline to Sustain Production into 2040s
Project Pipeline to Sustain Production into 2040s 7+ YEARS 4 TO 7 YEARS 0 TO 4 YEARS EXECUTION FEASIBILITY DEFINITIVE YANACOCHA SULFIDES TANAMI EXPANSION 2 Peru – Gold (~45%), Copper (~45%), Australia – Gold Silver (~10%) AHAFO NORTH PUEBLO VIEJO Ghana – Gold EXPANSION JV Dominican Republic – Gold G
Slide 9: Rob Atkinson
Rob Atkinson CREATING VALUE & IMPROVING LIVES CHIEF OPERATING OFFICER THROUGH SUSTAINABLE, RESPONSIBLE MINING FIRST QUARTER 2022 EARNINGS NEWMONT CORPORATION 9
Slide 10: Africa Positioned to Deliver Higher Ounces in H2
Africa Positioned to Deliver Higher Ounces in H2 ATTRIBUTABLE GOLD PRODUCTION 198 koz GOLD COSTS GOLD ALL-IN APPLICABLE TO SALES SUSTAINING COSTS* $871/oz $1,106/oz ▪ Subika underground operations positioned to achieve higher grade and improve tonnes mined in H2 2022 ▪ Ramping up Subika underground
Slide 11: Australia Building Momentum into Q2
Australia Building Momentum into Q2 ATTRIBUTABLE CO-PRODUCT GEO GOLD PRODUCTION PRODUCTION 282 koz 51 koz GOLD COSTS GOLD ALL-IN APPLICABLE TO SALES SUSTAINING COSTS* $764/oz $974/oz ▪ Performance from autonomous haulage fleet at Boddington continues to improve; continued optimization projects in 20
Slide 12: North America Resilient in Q1
North America Resilient in Q1 ATTRIBUTABLE CO-PRODUCT GEO GOLD PRODUCTION PRODUCTION 309 koz 299 koz GOLD COSTS GOLD ALL-IN APPLICABLE TO SALES SUSTAINING COSTS* $995/oz $1,230/oz ▪ Peñasquito delivered solid performance from higher grade; stripping continues at the Peñasco and Chile Colorado open p
Slide 13: South America Delivers Solid Q1 Performance
South America Delivers Solid Q1 Performance ATTRIBUTABLE GOLD PRODUCTION 267 koz GOLD COSTS GOLD ALL-IN APPLICABLE TO SALES SUSTAINING COSTS* $921/oz $1,123/oz ▪ Merian delivered steady performance despite heavy rainfall and lower throughput from mill maintenance ▪ Yanacocha focused on optimal ore p
Slide 14: Nancy Buese
Nancy Buese CREATING VALUE & IMPROVING LIVES CHIEF FINANCIAL OFFICER THROUGH SUSTAINABLE, RESPONSIBLE MINING FIRST QUARTER 2022 EARNINGS NEWMONT CORPORATION 14
Slide 15: First Quarter Financial Performance
First Quarter Financial Performance ADJUSTED REVENUE NET INCOME* $3.0B $0.69/share ADJUSTED CASH FROM EBITDA* CONTINUING OPS $1.4B $689M FREE CASH CASH AND CASH FLOW* EQUIVALENTS $252M $4.3B NET DEBT TO DIVIDEND ADJUSTED EBITDA* DECLARED 0.3x $0.55/share *See endnotes Investing in Organic Growth in
Slide 16: Q1 Adjusted Net Income of $0.69 per Share
Q1 Adjusted Net Income of $0.69 per Share SOLID FIRST QUARTER DESPITE GAAP TO ADJUSTED NET INCOME ($/DILUTED SHARE) * NEAR-TERM COVID CHALLENGES $0.04 $0.16 $0.04 ($0.05) Q1 production impacted by Omicron ($0.04) surge; strong gold prices for the quarter Non-cash loss of $130M on a pension $0.69 set
Slide 17: Free Cash Flow Increases with Higher Gold Price
Free Cash Flow Increases with Higher Gold Price ANNUAL INCREMENTAL FREE CASH FLOW* +$4.8B +$3.6B INCREMENTAL FCF +$2.4B +$1.2B $1,200 $1,500 $1,800 $2,100 $2,400 +$400M FCF per annum for every $100/oz increase in gold price *Free Cash Flow assumptions as of December 2, 2021; Includes impacts from ap
Slide 18: Industry-Leading Dividend Framework
Industry-Leading Dividend Framework ▪ Leading $1.00/share sustainable base dividend ANNUALIZED DIVIDEND PAYOUT ▪ Targeting 40% – 60% of incremental attributable Free Cash $2.80 - $3.70 Flow above $1,200/oz returned to shareholders ▪ Evaluating gold price increments of ~$300/oz $2.20 - $2.80 ▪ Approv
Slide 19: Delivering on Capital Allocation Strategy
Delivering on Capital Allocation Strategy INVESTING IN ORGANIC GROWTH MAINTAINING FINANCIAL FLEXIBILITY RETURNING CASH TO SHAREHOLDERS ✓ Advancing Ahafo North and Tanami ✓ Liquidity of $7.3B and cash position of ✓ Maintained industry-leading dividend Expansion 2 $4.3B at Q1 framework, providing stab
Slide 20: Tom Palmer
Tom Palmer CREATING VALUE & IMPROVING LIVES PRESIDENT & CHIEF EXECUTIVE OFFICER THROUGH SUSTAINABLE, RESPONSIBLE MINING FIRST QUARTER 2022 EARNINGS NEWMONT CORPORATION 20
Slide 21: Transparent Review of Newmont's ESG Performance
Transparent Review of Newmont’s ESG Performance 2021 HIGHLIGHTS Experienced no work-related Formed strategic alliance fatalities at managed operations with Caterpillar to achieve zero-emissions mining Celebrated 100-year anniversary Offered the mining industry’s first sustainability-linked bond Name
Slide 22: The Gold Sector's Recognized Sustainability Leader
The Gold Sector’s Recognized Sustainability Leader SAM S&P (DJSI) SUSTAINALYTICS TRANSPARENCY CLIMATE 99% Percentile ranking 23 ESG Risk Rating measures exposure and #2 Most transparent company in B CDP Climate Scores reflective of global metals and mining sector management of material ESG risks* S&
Slide 23: Leading Change. Focused on Value.
– 100 YEARS – #1 gold producer with ~8M Proven operating model and GEOs* per year with significant deep bench of experienced exposure to copper and leaders with strong track record other metals Strong free cash flow Industry’s leading portfolio of generation and margins with world-class assets in to
Slide 24: Appendix
Appendix FIRST QUARTER 2022 EARNINGS NEWMONT CORPORATION 24
Slide 25: 2022 Outlook by Site
2022 Outlooka by Site Consolidated Consolidated Sustaining Development Consolidated Attributable Consolidated All- Capital Capital Production Production Consolidated CAS In Sustaining Expenditures Expenditures 2022 Outlook (+/-5%) (Koz, GEOs Koz) (Koz, GEOs Koz) ($/oz) Costs b ($/oz) ($M) ($M) a 202
Slide 26: Adjusted net income (loss)
Adjusted net income (loss) Management uses Adjusted net income (loss) to evaluate the Company’s operating performance and for planning and forecasting future business operations. The Company believes the use of Adjusted net income (loss) allows investors and others to understand the results of the c
Slide 27: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA Management uses EBITDA and Adjusted EBITDA as non-GAAP measures to evaluate the Company’s operating performance. EBITDA and Adjusted EBITDA do not represent, and should not be considered an alternative to, net income (loss), operating income (loss), or cash flow from opera
Slide 28: 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 29: Attributable Free cash flow
Attributable Free cash flow Management uses Attributable Free Cash Flow as a non-GAAP measure to analyze cash flows generated from operations that are attributable to the Company. Attributable Free Cash Flow is Net cash provided by (used in) operating activities after deducting net cash flows from o
Slide 30: All-in Sustaining Costs
All-in Sustaining Costs Newmont has developed a metric that expands on GAAP measures, such as cost of goods sold, and non-GAAP measures, such as costs applicable to sales per ounce, to provide visibility into the economics of our mining operations related to expenditures, operating performance and t
Slide 31: All-in Sustaining Costs
All-in Sustaining Costs Advanced Sustaining Projects, Treatment Capital All-In Costs Research and Other and and Lease All-In Ounces Sustaining Three Months Ended Applicable to Reclamation Development and General and Expense, Refining Related Sustaining (000) Costs Per March 31, 2022 Sales(1)(2)(3) C
Slide 32: Gold All-in Sustaining Costs - 2022 Outlook
Gold All-in Sustaining Costs - 2022 Outlook A reconciliation of the 2022 Gold AISC outlook to the 2022 Gold CAS outlook are 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 Se
Slide 33: Co-Product All-in Sustaining Costs - 2022 Outlook
Co-Product All-in Sustaining Costs - 2022 Outlook A reconciliation of the 2022 Co-Product AISC outlook to the 2022 Co-Product CAS outlook is provided below. The estimates in the table below are considered “forward-looking statements” within the 27A of the Securities Act of 1933, as amended, and Sect
Slide 34: Total GEO All-in Sustaining Costs - 2022 Outlook
Total GEO All-in Sustaining Costs - 2022 Outlook A reconciliation of the 2022 Total GEO AISC outlook to the 2022 Total GEO CAS outlook is provided below. The estimates in the table below are considered “forward-looking statements” within the 27A of the Securities Act of 1933, as amended, and Section
Slide 35: Net Debt to Adjusted EBITDA Ratio
Net Debt to Adjusted EBITDA Ratio Management uses net debt to Adjusted EBITDA as non-GAAP measures to evaluate the Company’s operating performance, including our ability to generate earnings sufficient to service our debt. Net debt to Adjusted EBITDA represents the ratio of the Company’s debt, net o
Slide 36: Endnotes
Endnotes Investors are encouraged to read the information contained in this presentation in conjunction with the most recent Form 10-Q for the quarter ended March 31, 2022 filed with the SEC on April 22, 2022, and with the Cautionary Statement on slide 2 and the following notes below. Outlook Assump
Slide 37: Endnotes
Endnotes Reserves and Resources: Proven and Probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determine economic feasibility. The price sensitivity of reserves depends upon several factors including grade, metallurgical recovery, opera
Slide 38: Endnotes
Endnotes Adjusted Net Income is a non-GAAP metric. Adjusted Net Income per share refers to Adjusted Net Income per diluted share. See appendix or more information and reconciliation to the nearest GAAP metric. Free Cash Flow. Attributable FCF is a non-GAAP metric and is generated from Net cash provi