Slide 1: Fourth Quarter 2024 Investor Presentation
Fourth Quarter 2024 Investor Presentation November 2024 Q4 2024 INVESTOR PRESENTATION – NOVEMBER 2024 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: 2024 & 2025 Performance & Outlook
Newmont 2024 & 2025 PERFORMANCE & OUTLOOK Q4 2024 INVESTOR PRESENTATION – NOVEMBER 2024 NEWMONT CORPORATION 3
Slide 4: 2024: A Transformational Year
2024: A Transformational Year Focused on Integration, Rationalization, & Transition Completing Stabilizing Progressing Improving Returning Cash to INTEGRATION PRODUCTION DIVESTITURES MARGINS SHAREHOLDERS Strengthening safety culture Expect to deliver 5.6Moz of Announced $1.5B from Gold all-in sustai
Slide 5: Announced >$2B from Asset Sales in 2024
Announced >$2B from Asset Sales in 2024 Up to $1.5B from Non-Core Divestitures, $527M from Sale of Other Investments FEBRUARY 2024 JULY 2024 OCTOBER 2024 Announced Non-Core Divestiture Program with Monetization of Batu Hijau contingent payments Agreement to divest Akyem operation for up to intention
Slide 6: 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 7: 2025: Core Portfolio to Deliver Steady Results
2025: Core Portfolio to Deliver Steady Results* Focused on Safety, Costs, & Productivity ▪ Expect attributable gold production in 2025 to remain consistent with 2024 ▪ Anticipate unit costs in 2025 to align with the trends observed in 2024 ▪ Expect annual sustaining capital spend of ~$1.8B over next
Slide 8: Performance Catalysts Beyond 2024
Performance Catalysts Beyond 2024 LIHIR BRUCEJACK CADIA NON-MANAGED OPERATIONS HEADWINDS Processing higher proportion of lower-grade Focused on development and drilling activities to Elevated sustaining capital for a period to align life- Monitoring run-rate from Nevada Gold Mines JV stockpiles whil
Slide 9: Core Portfolio
Newmont CORE PORTFOLIO Q4 2024 INVESTOR PRESENTATION – NOVEMBER 2024 NEWMONT CORPORATION 9
Slide 10: Newmont's Go-Forward Core Portfolio
Newmont’s Go-Forward Core Portfolio ASIA PACIFIC Lihir AFRICA Boddington Ahafo Cadia Ahafo North Cadia Panel Cave 2-3 Tanami Tanami Expansion 2 NORTH AMERICA Brucejack Red Chris Nevada Gold Mines JV* LATIN AMERICA Peñasquito Merian Cerro Negro Yanacocha Pueblo Viejo JV* Managed Operation Non-Managed
Slide 11: Industry-Leading Portfolio
Industry-Leading Portfolio LAST 12 MONTHS (LTM) GEO PRODUCTION FROM TIER 1 ASSETS (koz) Assets Managed by Precious Metals Producers Managed Operation 1,500 Non-Managed Joint Venture 1,200 900 600 Pueblo Viejo* Boddington Peñasquito Turquoise 300 Cortez* Tanami Carlin* Ridge* Ahafo Cadia Lihir Mine L
Slide 12: Underpinned By Industry-Leading Reserves & Resources
Underpinned By Industry-Leading Reserves & Resources Africa 6% Asia Pacific North North America 40% America 20% 15% Asia Pacific 47% Gold Copper 128 Moz RESERVES * 14 Mt RESERVES * + + 155 Moz RESOURCES ** 26 Mt RESOURCES ** Latin America 38% Latin America 34% *For Tier 1 portfolio, defined in endno
Slide 13: 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 14: Appendix
Newmont APPENDIX Q4 2024 INVESTOR PRESENTATION – NOVEMBER 2024 NEWMONT CORPORATION 14
Slide 15: Third Quarter Results
Third Quarter Results Q4 2024 INVESTOR PRESENTATION – NOVEMBER 2024 NEWMONT CORPORATION 15
Slide 16: 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 17: 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 18: Direct Operating Costs by Category
Direct Operating Costs by Category* Newmont’s Core Portfolio 2% 1% Other 8% Other Chemicals, 25% 4% Reagents, & 9% Newmont Liners & Explosives Diesel Employees Wear Parts 50% 30% 5% Electric Power 15% Materials & Fuel & Energy Labor Costs Consumables Costs 25% 8% 8% Contracted Maintenance Consumable
Slide 19: 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 20: 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 21: Continuous Improvement
Continuous Improvement Q4 2024 INVESTOR PRESENTATION – NOVEMBER 2024 NEWMONT CORPORATION 21
Slide 22: Operating Model Drives Continuous Improvement
Operating Model Drives Continuous Improvement DIAGNOSE DESIGN DELIVER REFRESH Proven integrated operating model with deep bench of experienced leaders and technical experts Robust governance structure drives stable, predictable, and sustainable performance Full Potential program engrained in Newmont
Slide 23: Established Operations Support Networks (OSNS)
Established Operations Support Networks (OSNS) Monitor Coach Intervene Sustain Supporting operations through centralized network of world- class subject matter experts Providing expert data and analytics through a consistent ASSET platform to produce improved performance at operations MINING PROCESS
Slide 24: Sustainability
Sustainability Q4 2024 INVESTOR PRESENTATION – NOVEMBER 2024 NEWMONT CORPORATION 24
Slide 25: The Gold Sector's Recognized Sustainability Leader
The Gold Sector’s Recognized Sustainability Leader S&P GLOBAL CSA SUSTAINALYTICS TRANSPARENCY CLIMATE 100% 21 #1 A- Percentile ranking global ESG Risk Rating measures exposure and Most transparent company in S&P 500; CDP Climate Scores reflective metals and mining sector management of material ESG r
Slide 26: Significant Milestones in Our Sustainability Journey
Significant Milestones in Our Sustainability Journey 2001 2004 2007 2013 2016 2020 Founding member Established Safety Appointed Adopted Conflict-Free Sustainability and Implementing Global of ICMM & Sustainability Company’s first Gold Standard safety targets Industry Standard on Board committee Chie
Slide 27: Committed to Leading ESG Practices
Committed to Leading ESG Practices DEMONSTRATING NEWMONT’S DEDICATION TO ACCOUNTABILITY AND TRANSPARENCY Launched 20th Annual Sustainability Report in April 2024, a transparent review of ESG performance and the issues and metrics that matter most to stakeholders Published Climate Performance Update
Slide 28: Governance Underpins Sustainability Strategy
Governance Underpins Sustainability Strategy SUSTAINABILITY GOVERNANCE AT NEWMONT 2024 ANNUAL INCENTIVE PLAN Board of Directors ▪ Oversight, advice and counsel on key sustainability matters 20% Health & Safety ▪ Dedicated Safety & Sustainability Committee ▪ Fatality Risk Management Sustainability Ex
Slide 29: Broad Management Experience
Broad Management Experience EXECUTIVE LEADERSHIP TEAM BOARD OF DIRECTORS Q4 2024 INVESTOR PRESENTATION – NOVEMBER 2024 NEWMONT CORPORATION 29
Slide 30: Endnotes and Reconciliations
Endnotes and Reconciliations Q4 2024 INVESTOR PRESENTATION – NOVEMBER 2024 NEWMONT CORPORATION 30
Slide 31: 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 32: Basis For 2024 Outlook
Basis For 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 $100 Oil ($/bbl) $90
Slide 33: 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 34: 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 35: 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 36: 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 37: 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 38: 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 39: 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 40: 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 41: 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 42: 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 43: 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