Slide 1: Third Quarter 2022 Earnings
Third Quarter 2022 CREATING VALUE & IMPROVING LIVES Earnings THROUGH SUSTAINABLE, RESPONSIBLE MINING NOVEMBER 1, 2022 THIRD 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 THIRD QUARTER 2022 EARNINGS NEWMONT CORPORATION 3
Slide 4: Third Quarter 2022 Highlights
Third Quarter 2022 Highlights Remain on track to achieve updated Liquidity of $6.7B and net debt full-year guidance to adjusted EBITDA ratio of 0.5x** Produced 1.5M attributable ounces of Declared dividend of $0.55 per share for gold* and 299k GEOs from co-products Q3; calibrated at an $1,800/oz gol
Slide 5: Focused on Disciplined Fatality Risk Management
Focused on Disciplined Fatality Risk Management JOURNEY TO A FATALITY AND CRITICAL CONTROL VERIFICATIONS (CCV s) COMPLETED (in tho us ands ) INJURY-FREE ENVIRONMENT 180 1,000 Number of Quarterly CCVs Completed Cumulative CCVs Completed 900 Continued focus on eliminating fatalities 160 through global
Slide 6: Well-Positioned for a Strong Finish to 2022
Well-Positioned for a Strong Finish to 2022 NEWMONT 2022 OUTLOOK (+/-5% - AS OF JULY 25, 2022) GOLD PRODUCTION* GOLD CAS** GOLD AISC** 6.0Moz $900/oz $1,150/oz Higher production expected in Q4 at Lower unit costs in Q4 anticipated due to Lower costs expected in Q4 from Nevada Gold Mines, Boddington,
Slide 7: Rob Atkinson
Rob Atkinson CREATING VALUE & IMPROVING LIVES CHIEF OPERATING OFFICER THROUGH SUSTAINABLE, RESPONSIBLE MINING THIRD QUARTER 2022 EARNINGS NEWMONT CORPORATION 7
Slide 8: Africa on Track to Deliver Strong Q4 Results
Africa on Track to Deliver Strong Q4 Results ATTRIBUTABLE GOLD PRODUCTION 254 koz GOLD COSTS GOLD ALL-IN APPLICABLE TO SALES SUSTAINING COSTS* $918/oz $1,085/oz ▪ Akyem remains a solid contributor due to higher tonnes mined and sustained ore grade and mill throughput; higher grade expected in Q4 ▪ S
Slide 9: South America Focused on Long-Term Strategy
South America Focused on Long-Term Strategy ATTRIBUTABLE GOLD PRODUCTION* 266 koz GOLD COSTS GOLD ALL-IN APPLICABLE TO SALES SUSTAINING COSTS** $1,145/oz $1,423/oz ▪ Cerro Negro delivered steady results from higher throughput; improved productivity from implementation of tele-remote loaders ▪ Merian
Slide 10: North America Delivers Solid Q3 Performance
North America Delivers Solid Q3 Performance ATTRIBUTABLE CO-PRODUCT GEO GOLD PRODUCTION PRODUCTION 404 koz 254 koz GOLD COSTS GOLD ALL-IN APPLICABLE TO SALES SUSTAINING COSTS* $980/oz $1,285/oz ▪ Peñasquito delivered a strong performance due to higher gold grade from the Peñasco pit with steady silv
Slide 11: Australia Reaches Project Milestones in Q3
Australia Reaches Project Milestones in Q3 ATTRIBUTABLE CO-PRODUCT GEO GOLD PRODUCTION PRODUCTION 296 koz 45 koz GOLD COSTS GOLD ALL-IN APPLICABLE TO SALES SUSTAINING COSTS* $754/oz $984/oz ▪ Boddington impacted by heavy rainfall and lower mill throughput from crusher and conveyor maintenance; highe
Slide 12: Nancy Buese
Nancy Buese CREATING VALUE & IMPROVING LIVES CHIEF FINANCIAL OFFICER THROUGH SUSTAINABLE, RESPONSIBLE MINING THIRD QUARTER 2022 EARNINGS NEWMONT CORPORATION 12
Slide 13: Third Quarter Financial Performance
Third Quarter Financial Performance ADJUSTED REVENUE NET INCOME* $2.6B $0.27/share ADJUSTED CASH FROM EBITDA* CONTINUING OPS $850M $466M FREE CASH DIVIDEND FLOW* DECLARED $(63)M $0.55/share *See endnotes re non-GAAP metrics. **Reinvestment includes capital expenditures, exploration expense, and Adva
Slide 14: Q3 Adjusted Net Income of $0.27 per Share
Q3 Adjusted Net Income of $0.27 per Share LOWER REALIZED PRICES AND SALES GAAP TO ADJUSTED NET INCOME ($/DILUTED SHARE) * VOLUMES DURING THE THIRD QUARTER $0.01 Average realized price for gold decreased from ($0.01) ($0.01) $1,836/oz in Q2 to $1,691/oz in Q3; impacted by $24M of unfavorable mark-to-
Slide 15: The Industry's Strongest Balance Sheet
The Industry’s Strongest Balance Sheet CASH AND SHORT-TERM NET DEBT TO TOTAL LIQUIDITY* BANK DEPOSITS* ADJUSTED EBITDA** $6.7B Cash Balance and Undrawn Revolving $3.7B Maintaining Strength During Time of 0.5x Substantially Below Target of Credit Facility Meaningful Reinvestment Less than 1.0x WEIGHT
Slide 16: Tom Palmer
Tom Palmer CREATING VALUE & IMPROVING LIVES PRESIDENT & CHIEF EXECUTIVE OFFICER THROUGH SUSTAINABLE, RESPONSIBLE MINING THIRD QUARTER 2022 EARNINGS NEWMONT CORPORATION 16
Slide 17: Steady Investment in Sustainable Growth
Steady Investment in Sustainable Growth Maintaining portfolio of world -class assets in proven mining jurisdictions; Average sustaining capital of ~$1B per year * In a period of meaningful reinvestment; Average attributable development capital of ~$800M per year * Robust foundation of reserves and r
Slide 18: Industry-Leading Dividend Framework
Industry-Leading Dividend Framework ▪ Framework considers historical and projected gold price ANNUALIZED DIVIDEND PAYOUT and free cash flows over the long-term $2.80 - $3.70 ▪ Base dividend provides a $1.00/share payment at base gold price assumption ▪ Incremental payment targets 40% – 60% of increm
Slide 19: 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 20: Appendix
Appendix THIRD QUARTER 2022 EARNINGS NEWMONT CORPORATION 20
Slide 21: 2022 Outlook
2022 Outlooka Newmont 2022 Outlook (+/- 5%)a 2022E Consolidated Gold Production (Moz) 5.9 a 2022 outlook projections are considered forward-looking statements and represent management’s good faith estimates or expectations of future production results as of July 25, 2022. Outlook is based upon certa
Slide 22: Adjusted net income (loss)
Adjusted net income (loss) Net income (loss) attributable to Newmont stockholders is reconciled to Adjusted net income (loss) as follows: (1) Per share measures may not recalculate due to rounding. (2) Pension settlement, included in Other income (loss), net, represents pension settlement charges in
Slide 23: 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 Nine Months Ended (1) Pension settlement, included in Other income (loss), net, represents pension settlement September 30, September 30, charg
Slide 24: Free cash flow
Free cash flow The following table sets forth a reconciliation of Free Cash Flow 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 regarding Net cash provided by (used
Slide 25: 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 26: 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 September 30, 2022 Sales (1)(2)
Slide 27: All-in Sustaining Costs
All-in Sustaining Costs Sustaining Advanced Treatment Capital and All-In Costs Projects, Research and Lease All-In Ounces Sustaining Nine Months Ended Applicable to Reclamation and Development General and Other Expense, Refining Related Sustaining (000) Costs Per oz. September 30, 2022 Sales (1)(2)(
Slide 28: 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 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 Sec
Slide 29: 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 30: 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 31: 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 32: 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 September 30, 2022 filed with the SEC on November 1, 2022, and with the Cautionary Statement on slide 2 and the following notes below. Outlook
Slide 33: 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 34: Endnotes
Endnotes Adjusted Net Income. 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 generate