Slide 1: Newmont Reports Robust Second Quarter 2026 Results; Remains on Track to Achieve Full Year Guidance
NYSE: NEM, ASX: NEM, PNGX: NEM Newmont Reports Robust Second Quarter 2026 Results; Remains on Track to Achieve Full Year Guidance DENVER, July 23, 2026 – Newmont Corporation (NYSE: NEM, ASX: NEM, PNGX: NEM) (Newmont or the Company) today announced second quarter 2026 results and declared a dividend
Slide 2: Delivering on Newmont's Consistent Capital Allocation Framework
Delivering on Newmont's Consistent Capital Allocation Framework Newmont's consistent capital allocation framework is designed to be sustainable through the commodity and investment cycles while maximizing total return of capital to shareholders, maintaining a flexible and resilient balance sheet, an
Slide 3: Summary of Results
Summary of Results 2025 2026 Q1 Q2 Q3 Q4 FY Q1 Q2 YTD Average realized gold price ($/oz) $ 2,944 $ 3,320 $ 3,539 $ 4,216 $ 3,498 $ 4,900 $ 4,414 $ 4,661 Attributable gold production (Moz) (1) 1.54 1.48 1.42 1.45 5.89 1.30 1.29 2.59 Total CAS ($M) (2) $ 2,106 $ 2,001 $ 1,951 $ 2,027 $ 8,085 $ 1,937 $
Slide 4: $13.0 billion of total liquidity; ended the quarter in a net cash position
Gold by-product AISC per ounce3 increased 58 percent to $1,621 for the quarter. Building from CAS per ounce, the increase was primarily due to higher sustaining capital and other expense, primarily related to incremental costs incurred at Cadia during the downtime after the seismic event in April. G
Slide 5: 2026 Guidance Expectations (+/-5%)
2026 Guidance Expectations (+/-5%) Newmont remains on track to meet its previously published 2026 guidance. For more details, refer to the Company’s Fourth Quarter 2025 Earnings and 2026 Guidance press release, issued on February 19, 2026, and available on Newmont.com. Please see the cautionary stat
Slide 6: 2026 Seasonality Guidance and Third Quarter Commentary
2026 SEASONALITY GUIDANCE1 AND THIRD QUARTER COMMENTARY Total Portfolio H1 2026E H2 2026E Attributable Production 49% 51% Sustaining Capital 42% 58% Development Capital 37% 63% 1 2026 guidance projections are considered forward-looking statements and represent management’s good faith estimates or ex
Slide 7: Committed to Concurrent Reclamation
Committed to Concurrent Reclamation As mines operate for a finite period, careful closure planning is crucial to address the diverse social, economic, environmental and regulatory impacts associated with the end of mining operations. Newmont’s global Closure Strategy integrates closure planning thro
Slide 8: Operating Results Sales Volumes and Average Realized Price
2025 2026 Operating Results Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 YTD Sales Volumes (koz) Consolidated gold ounces sold 1,442 1,380 1,319 1,378 5,519 1,232 1,195 2,427 Attributable gold ounces sold (1) 1,430 1,363 1,308 1,358 5,459 1,211 1,177 2,388 Consolidated copper tonnes sold (thousands) 35 37 31 31 134 3
Slide 9: Operating Results (continued) Gold Co-Product CAS and Co-Product CAS per Unit
2025 2026 Operating Results (continued) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 YTD Gold Co-Product CAS ($/oz) Cadia $ 794 $ 805 $ 820 $ 981 $ 845 $ 1,050 $ 1,555 $ 1,216 Boddington $ 1,239 $ 1,207 $ 1,268 $ 1,262 $ 1,244 $ 1,421 $ 1,283 $ 1,336 Peñasquito $ 898 $ 756 $ 956 $ 1,235 $ 922 $ 1,188 $ 2,126 $ 1,536
Slide 10: Newmont Corporation Condensed Consolidated Statements of Operations
NEWMONT CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in millions except per share) 2025 (1) 2026 (1) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 YTD Sales $ 5,010 $ 5,317 $ 5,524 $ 6,818 $22,669 $ 7,307 $ 6,118 $13,425 Costs and expenses: Costs applicable to sales (2) 2,106 2,001 1,951 2,0
Slide 11: Newmont Corporation Condensed Consolidated Balance Sheets
NEWMONT CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in millions) 2025 2026 MAR JUN SEP DEC MAR JUN SEP DEC ASSETS Cash and cash equivalents $ 4,698 $ 6,185 $ 5,639 $ 7,647 $ 8,775 $ 9,009 Trade receivables 887 637 1,047 1,067 1,137 686 Investments 18 468 328 594 4 — Inventories 1,4
Slide 12: Newmont Corporation Condensed Consolidated Statements of Cash Flows
NEWMONT CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited, in millions) 2025 (1) 2026 (1) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 YTD Operating activities: Net income (loss) $ 1,902 $ 2,075 $ 1,843 $ 1,347 $ 7,167 $ 3,328 $ 2,251 $ 5,579 Non-cash adjustments: Depreciation and amortization 59
Slide 13: Non-GAAP Financial Measures
Non-GAAP Financial Measures (dollars in millions, except per share, per ounce and per pound amounts, unless otherwise noted) Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by GAAP. These measures should not be considere
Slide 14: Adjusted Net Income reconciliation, Three Months Ended June 30, 2025
Three Months Ended Six Months Ended June 30, 2025 June 30, 2025 per share data (1) per share data (1) basic diluted basic diluted Net income (loss) attributable to Newmont stockholders $ 2,061 $ 1.86 $ 1.85 $ 3,952 $ 3.53 $ 3.53 Adjustments: (Gain) loss on sale of assets held for sale (2) (699) (0.6
Slide 15: EBITDA and Adjusted EBITDA
Earnings Before Interest, Taxes, Depreciation and Amortization and Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization Net income (loss) attributable to Newmont stockholders is reconciled to EBITDA and Adjusted EBITDA as follows: Three Months Ended Six Months Ended June 30, June
Slide 16: Net Debt
Net Debt Net debt is calculated as Debt and Lease and other financing obligations less Cash and cash equivalents, as presented on the Condensed 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
Slide 17: 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 18: 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 19: 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 20: All-In Sustaining Costs footnotes
(7) Excludes capitalized interest related to sustaining capital expenditures. Refer to Liquidity and Capital Resources within Part I, Item 2, MD&A for capital expenditures by segment. (8) Includes finance lease payments and other costs for sustaining projects of $24. (9) Per ounce measures may not r
Slide 21: All-In Sustaining Costs, Three Months Ended June 30, 2025
Sustaining Co-Product Advanced Projects, Treatment Capital All-In Co-Product By-Product Costs Research and Other and and Lease All-In Ounces Sustaining All-In By-Product All-In Applicable Development General Sustaining Less: All-In Sustaining Three Months Ended to Reclamation and and Expense, Refini
Slide 22: All-In Sustaining Costs footnotes and table continued
(11) Refer to Note 3 to the Condensed Consolidated Financial Statements for information on the Company's divestitures. (12) Gold equivalent ounces is calculated as pounds or ounces produced multiplied by the ratio of the other metals price to the gold price, using Gold ($1,700/oz.), Copper ($3.50/lb
Slide 23: All-In Sustaining Costs footnotes
(5) Excludes development expenditures of $6 at Cadia, $3 at Boddington, $22 at Ahafo South, $1 at Ahafo North, $13 at Merian, $10 at Cerro Negro, $4 at Yanacocha, $7 at Peñasquito, $2 at Red Chris, $13 at NGM, $37 at Corporate and Other, totaling $118 related to developing new operations or major pr
Slide 24: All-In Sustaining Costs, Six Months Ended June 30, 2025
Sustaining Co-Product Advanced Projects, Treatment Capital All-In Co-Product By-Product Costs Research and Other and and Lease All-In Ounces Sustaining All-In By-Product All-In Applicable Development General Sustaining Less: All-In Sustaining Six Months Ended to Reclamation and and Expense, Refining
Slide 25: All-In Sustaining Costs footnotes
(8) Includes finance lease payments and other costs for sustaining projects of $39. (9) Per ounce measures may not recalculate due to rounding. (10) During the first quarter of 2025, mining and processing operations at the site were temporarily suspended due to safety events. Full operations resumed
Slide 26: Gold by-product metrics
Gold by-product metrics Copper, silver, lead, zinc, and molybdenum are by-products often obtained during the process of extracting and processing the primary ore-body. In our GAAP Condensed Consolidated Financial Statements, the value of these by-products is recorded as a credit to our CAS and the v
Slide 27: Gold by-product AISC and CAS reconciliation
Total AISC $ 2,347 $ 2,174 $ 4,524 $ 4,285 Less: Consolidated other metal sales, excluding treatment and refining charges (3) (848) (735) (2,139) (1,500) By-product AISC $ 1,499 $ 1,439 $ 2,385 $ 2,785 Gold sold (thousand ounces) 953 1,128 1,946 2,156 Total Gold AISC per ounce (by-product) - Managed
Slide 28: 2026 Guidance - Gold AISC Reconciliation
2026 Guidance - Gold AISC Reconciliation A reconciliation of the 2026 Gold AISC outlook to the 2026 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 Sectio
Slide 29: Net average realized price per ounce/pound
Net average realized price per ounce/ pound Average realized price per ounce/ pound are non-GAAP financial measures. The measures are calculated by dividing the net consolidated gold, copper, silver, lead, and zinc sales by the consolidated gold ounces, copper pounds, silver ounces, lead pounds and
Slide 30: Average realized price, Three Months Ended June 30, 2025
Three Months Ended June 30, 2025 Gold Copper Silver Lead Zinc (ounces) (pounds) (ounces) (pounds) (pounds) Consolidated sales: Gross before provisional pricing and streaming impact $ 4,556 $ 356 $ 171 $ 39 $ 148 Provisional pricing mark-to-market 34 4 5 5 (6) Silver streaming amortization — — 20 — —
Slide 31: Average realized price, Six Months Ended June 30, 2025
Six Months Ended June 30, 2025 Gold Copper Silver Lead Zinc (ounces) (pounds) (ounces) (pounds) (pounds) Consolidated sales: Gross before provisional pricing and streaming impact $ 8,723 $ 680 $ 328 $ 82 $ 355 Provisional pricing mark-to-market 126 38 24 5 (12) Silver streaming amortization — — 39 —
Slide 32: Conference Call Information
Conference Call Information A conference call will be held on Thursday, July 23, 2026 at 5:30 p.m. Eastern Daylight Time (3:30 p.m. Mountain Daylight Time), which is 7:30 a.m. Australian Eastern Standard Time on Friday, July 24, 2026. A replay of the webcast will be available on the Company’s websit
Slide 33: Cautionary Statement Regarding Forward Looking Statements
Cautionary Statement Regarding Forward Looking Statements, Including Outlook Assumptions, and Notes: This news release 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