Slide 1: 2025 Results & 2026 Guidance
2025 Results & 2026 Guidance F EBRUARY 19, 2026 FOURTH QUARTER & FULL YEAR 2025 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: 2025: Strong Finish, Strong Foundation
2025: Strong Finish, Strong Foundation Successfully achieved full-year guidance, improved operational performance, and strengthened financial position Stable Production Free Cash Flow2 Returns to Shareholders Debt Reduction Adjusted Net Income2 5.7 Moz1 $7.3 B $3.4 B $3.4 B $6.89 /share Achieved 202
Slide 4: World Class Portfolio in Leading Mining Jurisdictions
World Class Portfolio in Leading Mining Jurisdictions Unmatched scale, longevity, and quality - built to deliver sustained performance for decades 12 managed operations located in the world’s most North America favorable jurisdictions Brucejack Red Chris Nevada Gold Mines JV Asia Pacific Lihir Boddi
Slide 5: Robust Reserves in Stable Jurisdictions
Robust Reserves in Stable Jurisdictions Industry leading reserves and resources, supporting decades of production Gold Reserves and Resources Copper Reserves and Resources North America Papua New Guinea North America Papua New Guinea 9% 18% 30% 19% 118 Moz Reserves 13 Mt Reserves Australia 149 Moz R
Slide 6: Recent Exploration at Brucejack and Ahafo South
Recent Exploration at Brucejack and Ahafo South Supporting significant reserve growth potential at and around two existing operations Brucejack Ahafo South Leveraging focused orebody knowledge to unlock near-term Reserves, Defining the next generation of high-grade underground operations, Resources,
Slide 7: Projects Underway
Projects Underway Advancing projects in execution and preparing Nearshore Barrier at Lihir to extend mine life Tanami Expansion 2 Cadia Panel Caves Lihir Nearshore Barrier 1.5km deep production shaft, Two caves to recover over 5.0Moz of gold Extends mine life beyond 2040, enabling increasing product
Slide 8: 2026 Guidance
2026 Guidance1 As of February 19, 2026 Managed Non-Managed Total (+/- 5%) Performance Drivers Operations Operations2 Portfolio ▪ Planned mine sequencing at Ahafo South, Peñasquito, Attributable Gold Production3 3.9Moz 1.4Moz 5.3Moz Boddington, and Cadia - positioning for longer term production growt
Slide 9: 2025 Portfolio Performance and 2026 Outlook
2025 Portfolio Performance and 2026 Outlook Leveraging a strong foundation to advance near-term production growth ▪ First drawbell fired at PC1-2; cave ▪ Waste stripping campaign advanced in ▪ Achieved commercial production in establishment for PC2-3 on track to North and South pits; completion Octo
Slide 10: Capital Allocation Framework
Capital Allocation Framework1 Disciplined, sustainable returns through the commodity and investment cycles Net Cash from Operations Net cash provided by operations including net changes in working capital (including reclamation spend) ▪ Ongoing investment in world-class portfolio to $1.95B Constant
Slide 11: Executing with Discipline, Delivering Results
Executing with Discipline, Delivering Results Well-positioned to deliver sustainable growth and return capital to shareholders, supported by a strengthened portfolio and disciplined execution Strong Finish, Strong Foundation for Growth Successfully delivered on full-year guidance, strengthened finan
Slide 12: Appendix
Appendix FOURTH QUARTER & FULL YEAR 2025 RESULTS NEWMONT CORPORATION 12 12
Slide 13: 2025 Results & 2026 Guidance
2025 Results & 2026 Guidance FOURTH QUARTER & FULL YEAR 2025 RESULTS NEWMONT CORPORATION 13 13
Slide 14: 2025 Core Portfolio Performance
2025 Core Portfolio Performance Full-year performance versus original guidance provided on February 20, 2025 Managed Operations Non-Managed Operations Total Core Portfolio Attributable Gold Production 4.3 Moz 1.4 Moz 5.7 Moz 2025 Guidance: 4.2Moz 2025 Guidance: 1.4Moz 2025 Guidance: 5.6Moz Gold CAS
Slide 15: Steady Production Driven by Managed Operations
Steady Production Driven by Managed Operations Attributable Gold Production From Core Portfolio (Koz)1 6,400 ▪ Strong grades at Cadia ▪ Full year of commercial production at Ahafo North ▪ Injection leaching technology at Yanacocha ▪ Stronger efficiency and productivity at Merian 6,000 245 47 55 105
Slide 16: 2026: Gold Price and Investment Cycle Dynamics
2026: Gold Price and Investment Cycle Dynamics Gold All-in Sustaining Costs (AISC) from Core Portfolio ($/oz)1 ~$255 ~3% escalation offset by cost & productivity initiatives ~$45 $1,935 ~$55 Co-Product 2026E Gold Co- ~$60 ~7% Revenue/Costs Product AISC/oz Reconciled for comparability FX Rate ~$70 Ch
Slide 17: Underpinned by Robust Gold Reserves
Underpinned by Robust Gold Reserves Proven & Probable Gold Reserves (Moz) 6.6 2.0 (3.1) 134.1 (5.6) (7.2) 126.8 (8.6) 118.2 ▪ Raised reserve pricing to $2,000/oz ▪ Additions primarily from drilling ▪ Cost escalation assumptions updated to reflect current macroeconomic environment ▪ Revisions mainly
Slide 18: Co-Product and By-Product Unit Cost AISC Methods
Co-Product and By-Product Unit Cost AISC Methods By-product metrics provide clearer insight into gold-focused unit costs ▪ Gold unit costs are non-GAAP metrics that provide insight into the operating economics of Newmont’s portfolio of gold mines; by-product unit costs incorporate the impact of oper
Slide 19: Direct Operating Costs by Category
Direct Operating Costs by Category1 Percentage breakdown for 2026 remains largely in line with 2025 4% Other 7% 4% Chemicals, Other 25% 6% Reagents, & 6% Newmont Liners & Wear Explosives Diesel Employees Parts 50% 30% 15% Materials & Fuel & Energy Labor Costs Consumables Costs 25% 6% Contracted Main
Slide 20: Basis for 2026 Guidance
Basis for 2026 Guidance Pricing Assumptions and Sensitivities (as of February 19, 2026) Revenue & Cost Assumption Change (-/+) Impacts ($M) (1) Gold ($/oz) $4,500 $100 $505 Australian Dollar $0.70 $0.05 $100 Canadian Dollar $0.75 $0.05 $30 Mexican Peso $17.00 $1.00 $25 Oil ($/bbl Brent) $70.00 $10.0
Slide 21: 2026 Site Guidance
2026 Site Guidance (1) 2026 guidance projections are considered forward-looking statements and represent management’s good faith estimates or expectations of future production Consolidated Attributable Consolidated Consolidated Attributable Attributable results as of February 19, 2026. Guidance is b
Slide 22: 2026 Consolidated Expense and Capital Guidance
2026 Consolidated Expense and Capital Guidance Guidance Metric (+/-5%) 2026E Sustaining Capital ($M) Managed Portfolio $1,660 Non-Managed Portfolio $290 Total Newmont Sustaining Capital (1)(2) $1,950 Development Capital ($M) Managed Portfolio $1,160 Non-Managed Portfolio $240 Total Newmont Developme
Slide 23: Gold All-in Sustaining Costs - 2026 Guidance
Gold All-in Sustaining Costs - 2026 Guidance A reconciliation of the 2026 Gold AISC guidance to the 2026 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 24: Operating Sites
Operating Sites FOURTH QUARTER & FULL YEAR 2025 RESULTS NEWMONT CORPORATION 24
Slide 25: World Class Portfolio in Leading Mining Jurisdictions
World Class Portfolio in Leading Mining Jurisdictions Unmatched scale, longevity, and quality - built to deliver sustained performance for decades Managed Operations 11 Non-Managed JV’s 1 Lihir 12 1 Nevada Gold Mines 2 Cadia 2 Pueblo Viejo 3 Tanami 4 Boddington Equity Ownership 5 Ahafo South 1 1 Fru
Slide 26: Lihir: Site Facts
Lihir: Site Facts World-class gold mine in Papua New Guinea Geothermally active extinct volcanic crater on Niolam Island, Location located 900km from Port Moresby in Papua New Guinea Reserves & 15 Year Reserve Life with upside from Resources and Exploration Resources1 16.0Moz Gold Reserves 20.7Moz G
Slide 27: Cadia: Site Facts
Cadia: Site Facts One of the world’s largest long-lived gold-copper mines Location 25km from the city of Orange in New South Wales, Australia 30 Year Reserve Life with upside from Resources and Exploration 13.5Moz Gold Reserves 11.0Moz Gold Resources Reserves & 2.9Mt Copper Reserves 2.9Mt Copper Res
Slide 28: Tanami: Site Facts
Tanami: Site Facts An 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 & 11 Year Reserve Life with upside from Resources and Exploration Resources1 5.3Moz Gold
Slide 29: Boddington: Site Facts
Boddington: Site Facts A cornerstone gold-copper mine in Western Australia 16km from the rural farming town of Boddington and 130km from Location Western Australia’s capital city, Perth 14 Year Reserve Life with upside from Resources and Exploration Reserves & 10.2Moz Gold Reserves 4.4Moz Gold Resou
Slide 30: Ahafo South: Site Facts
Ahafo South: Site Facts Setting the benchmark for mine development and district expansion with Ahafo North Ahafo South is located approximately 290km northwest of Accra, Location the capital city of Ghana Reserves & 8 Year Reserve Life with upside from Resources and Exploration Resources1 4.1Moz Gol
Slide 31: Ahafo North: Site Facts
Ahafo North: Site Facts Commissioned in 2025, bringing new low-cost ounces into portfolio Ahafo North is located about 30km from the Ahafo South Location operation which is approximately 290km northwest of Accra, the capital city of Ghana Reserves & 18 Year Reserve Life with upside from Resources an
Slide 32: Merian: Site Facts
Merian: Site Facts Emerging asset in Suriname Approximately 66km south of the town of Moengo and 30km north Location of the Nassau Mountains near the French Guiana Reserves & 21 Year Reserve Life with upside from Resources and Exploration Resources1 4.5Moz Gold Reserves 3.9Moz Gold Resources 225koz
Slide 33: Cerro Negro: Site Facts
Cerro Negro: Site Facts World-class asset in Argentina 600 meters above sea level on the low Patagonian plains in Location southern Argentina 10 Year Reserve Life with upside from Resources and Exploration Reserves & 3.0Moz Gold Reserves 1.7Moz Gold Resources Resources1 20.3Moz Silver Reserves 8.6Mo
Slide 34: 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 3 Year Reserve Life with upside from Resources and Exploration Reserves & 0.5Moz Gold Reserves 12.5Moz Gold Resources Resources1 19.4Moz
Slide 35: 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 3.2Moz Gold Reserves 1.7Moz Gold Resources Reserves & 230Moz Silver Reserves 195.
Slide 36: Red Chris: Site Facts
Red Chris: Site Facts Building a world-class district in British Columbia’s Golden Triangle Approximately 80km south of Dease Lake in the Golden Triangle of Location British Columbia in Canada 2 Year Reserve Life with upside from Resources and Exploration Reserves & 3.6Moz Gold Reserves 4.4Moz Gold
Slide 37: Brucejack: Site Facts
Brucejack: Site Facts Building a world-class district in British Columbia’s Golden Triangle Approximately 950km Northwest of Vancouver in the Golden Location Triangle of British Columbia in Canada 11 Year Reserve Life with upside from Resources and Exploration Reserves & 2.9Moz Gold Reserves 3.1Moz
Slide 38: 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 39: Non-GAAP Reconciliations & Endnotes
Non-GAAP Reconciliations & Endnotes FOURTH QUARTER & FULL YEAR 2025 RESULTS NEWMONT CORPORATION 39
Slide 40: 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 41: 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 analysts to understand the results of the
Slide 42: All-in Sustaining Costs - Co-Product QTD
All-in Sustaining Costs - Co-Product QTD 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
Slide 43: All-in Sustaining Costs - Co-Product YTD
All-in Sustaining Costs - Co-Product YTD 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
Slide 44: Brucejack 2025 Intercepts Table (1 of 2)
Brucejack 2025 Intercepts Table (1 of 2) Hole ID Easting Northing Elev. (m) Azimuth Dip From To Au (g/t) Notes to the Intercepts Table VU-5802 426889 6258256 1326 35 -10 689 718.5 19.51 VU-5803 426889 6258256 1326 35 -25 No significant intercept 1. Easting, Northing, and Elevation coordinates are re
Slide 45: Brucejack 2025 Intercepts Table (2 of 2)
Brucejack 2025 Intercepts Table (2 of 2) Hole ID Easting Northing Elev. (m) Azimuth Dip From To Au (g/t) Notes to the Intercepts Table 3.8 17.5 4.24 S87-182 427122 6259106 1381 25 -48 1. Easting, Northing, and Elevation coordinates are reported in 68.5 104.5 54.86 Brucejack Mine Grid 16.5 45.9 2.57
Slide 46: Ahafo South 2025 Intercepts Table (1 of 3)
Ahafo South 2025 Intercepts Table (1 of 3) Hole ID Easting Northing Elev. (m) Azimuth Dip From To Au (g/t) Notes to the Intercepts Table AMDD154 130107 267013 1220 304 -69 315.7 326.8 4.03 338.3 357.1 3.47 1. Easting and Northing coordinates are reported in Ahafo unified AMDD158 130608 267777 1227 3
Slide 47: Ahafo South 2025 Intercepts Table (2 of 3)
Ahafo South 2025 Intercepts Table (2 of 3) Hole ID Easting Northing Elev. (m) Azimuth Dip From To Au (g/t) Notes to the Intercepts Table APSDD685 124052 259523 1219 294 -72 852.4 857.6 2.98 APSDD686 122996 258892 1218 356 -74 255.3 262.9 4.10 1. Easting and Northing coordinates are reported in Ahafo
Slide 48: Ahafo South 2025 Intercepts Table (3 of 3)
Ahafo South 2025 Intercepts Table (3 of 3) Hole ID Easting Northing Elev. (m) Azimuth Dip From To Au (g/t) Notes to the Intercepts Table 348.9 353.6 7.20 SUC-01784 123702 257805 619 134 -39 1. Easting and Northing coordinates are reported in Ahafo unified 371.8 379.9 7.64 92.8 98.0 8.40 grid (augng)
Slide 49: 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, 2025, expected to be filed on, or about, February 19, 2026. Investors are reminded that expectations regarding outlook and guidance, includ
Slide 50: Endnotes
Endnotes Net Debt. Net debt is calculated as Debt and Lease and other financing obligations less Cash and cash equivalents, as presented on the Consolidated Balance Sheets. Cash and cash equivalents are subtracted from Debt and Lease and other financing obligations as these could be used to reduce t