Slide 1: Third Quarter 2024 Earnings
Third Quarter 2024 Earnings October 24, 2024 THIRD QUARTER 2024 EARNINGS NEWMONT CORPORATION 1
Slide 2: Cautionary Statement Regarding Forward Looking Statements, Including Outlook
Cautionary Statement Regarding Forward Looking Statements, Including Outlook 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 to
Slide 3: Antoine Fortin Safety Performance
REMEMBERING REFLECTING ON Antoine Fortin Safety Performance September 29, 2024, Éléonore ▪ Recognize that this is our fifth fatality in less than a year ▪ Targeting zero fatalities and taking decisive actions to improve safety culture ▪ Leveraging investigation learnings to continue to strengthen ou
Slide 4: Q3 2024 Summary
Q3 2024 Summary THE NEW WORLD-CLASS DRIVING DELIVERING Sustainability Standard Portfolio Capital Allocation Synergies ▪ Newmont to take on leadership ▪ Produced ~1.7M attributable ▪ Returned $786M to shareholders ▪ Achieved $500M synergy run- position as ICMM chair ounces of gold* and 430k GEOs and
Slide 5: Achieved $500M Synergy Run-Rate in 2024
Achieved $500M Synergy Run-Rate in 2024* $200M $500M $200M $100M G&A SUPPLY CHAIN FULL POTENTIAL TOTAL SYNERGIES ▪ Reached $100M synergy run- ▪ Leveraging scale to achieve ▪ Reached $200M synergy run-rate ▪ Delivering value from the Newcrest rate from G&A savings $200M run-rate with potential upside
Slide 6: Operational Update
Newmont OPERATIONAL UPDATE THIRD QUARTER 2024 EARNINGS NEWMONT CORPORATION 6
Slide 7: Solid Q3 Performance from Managed Tier 1 Assets
Solid Q3 Performance from Managed Tier 1 Assets TANAMI BODDINGTON PEÑASQUITO ▪ Delivered consistently strong ▪ Stripping continues in the North ▪ Delivered steady gold and co-product production in Q3 and South pits production from Chile Colorado in Q3 ▪ Positioned to deliver higher grade ▪ Higher go
Slide 8: Advancing Key Projects in Execution in Q3
Advancing Key Projects in Execution in Q3 TANAMI EXPANSION 2 1.5km deep production shaft, reducing operating costs by ~30% through efficiency improvements ▪ Progressing concrete lining in lower section of the shaft ▪ Winder building largely complete Major SAG Mill Component Lift PC2-3 Development AH
Slide 9: Financial Performance
Newmont FINANCIAL PERFORMANCE THIRD QUARTER 2024 EARNINGS NEWMONT CORPORATION 9
Slide 10: Q3 2024 Financial Performance
Q3 2024 Financial Performance Adjusted Net Revenue Adjusted EBITDA * GAAP Net Income Income * $4.6B $2.0B $0.80/sh $0.81/sh Cash from Capital Cash & Cash Operations Expenditures Free Cash Flow * Equivalents ** $1.6B $877M $760M $3.1B Well-Positioned to Deliver Stronger Financial Results in Q4 2024 *
Slide 11: Shareholder-Focused Capital Allocation Strategy
Shareholder-Focused Capital Allocation Strategy 1 Financial Flexibility ~$7.0B ~$3.0B ~$8.0B TARGET LIQUIDITY* TARGET CASH* TARGET DEBT BALANCE** 2 Sustainable Investment ~$1.3B ANNUAL DEVELOPMENT CAPITAL*** 3 Return of Capital $1/share $3.0B ANNUALIZED BASE DIVIDEND* SHARE-REPURCHASE PROGRAM** Subj
Slide 12: On Track to Deliver a Solid Finish to the Year
On Track to Deliver a Solid Finish to the Year Q4 2024 Guidance* 1.8 Moz Attributable Gold Production** $320 M Development Capital $1,050 /oz Gold Costs Applicable to Sales $550 M Sustaining Capital $1,475 /oz Gold All-In Sustaining Costs*** $110 M General & Administrative *Represents Q4 2024 outloo
Slide 13: Closing Remarks
Newmont CLOSING REMARKS THIRD QUARTER 2024 EARNINGS NEWMONT CORPORATION 13
Slide 14: Delivering on Our Key Commitments
Delivering on Our Key Commitments Transaction Commitments Progressed in Q3 2024 The New ▪ Implementing lessons learned from recent fatalities SUSTAINABILITY STANDARD ▪ Firmly on track to meet production guidance of 6.75Moz of gold World-Class ▪ Generated $760M of Free Cash Flow* PORTFOLIO ▪ Announce
Slide 15: Appendix
Newmont APPENDIX THIRD QUARTER 2024 EARNINGS NEWMONT CORPORATION 15
Slide 16: Basis For Disciplined 2024 Outlook
Basis For Disciplined 2024 Outlook PRICING ASSUMPTIONS AND SENSITIVITIES (as of February 22, 2024) ASSUMPTION CHANGE (-/+) REVENUE AND COST IMPACTS ($M)** Tier 1 Portfolio Total Newmont Gold ($/oz) $1,900 $100 $550 $675 Australian Dollar $0.70 $0.05 $150 $190 Canadian Dollar $0.75 $0.05 $40 $100 Oil
Slide 17: 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) Loss on assets held for sale, included in Loss on assets held for sale, represents the loss record
Slide 18: 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) Loss on assets held for sale, included in Loss on assets held for sale, represents the loss September 30, September 30, r
Slide 19: 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 20: 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 21: Costs Applicable to Sales
Costs Applicable to Sales Costs applicable to sales per ounce/gold equivalent ounce 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 calculated for the periods presented on a consolidated
Slide 22: 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 23: 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 24: Gold All-In Sustaining Costs - 2024 Outlook
Gold All-In Sustaining Costs - 2024 Outlook A reconciliation of the 2024 Gold AISC outlook to the 2024 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 25: 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 26: Endnotes
Endnotes Investors are encouraged to read the information contained in this presentation in conjunction with Newmont’s Form 10-Q for the quarter ended September 30, 2024, expected to be filed on, or about, October 24, 2024. Investors are reminded that expectations regarding outlook and guidance, inc
Slide 27: Endnotes
Endnotes Dividend. Our future dividends, beyond the dividend declared for the second quarter 2024, have not yet been approved or declared by the Board of Directors. An annualized dividend payout level has not been declared by the Board and is non-binding. The Company’s dividend framework and expecte
Slide 28: Endnotes
Endnotes Projections. Projections used in this presentation are considered “forward looking statements”. See cautionary statement above regarding forward-looking statements. Estimates such as expected accretion, net asset value (NAV) per share, cash flow enhancement, synergies and future production