Slide 1: Full Year & Fourth Quarter 2021 Earnings
Full Year & Fourth Quarter CREATING VALUE & IMPROVING LIVES 2021 Earnings THROUGH SUSTAINABLE, FEBRUARY 24, 2022 RESPONSIBLE MINING FULL YEAR & FOURTH QUARTER 2021 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 FULL YEAR & FOURTH QUARTER 2021 EARNINGS NEWMONT CORPORATION 3
Slide 4: Focused on Value, Driven by Purpose: 2021 Highlights
Focused on Value, Driven by Purpose 2021 HIGHLIGHTS Delivered attributable gold Protecting the wellbeing of our Generated $2.6B in attributable production of 6.0M ounces* at workforce and communities free cash flow** and >$250M from all-in sustaining cost of $1,062 per throughout Covid response non-
Slide 5: Investing in the Future of Mining in Peru
Investing in the Future of Mining in Peru INCREASING OWNERSHIP IN YANACOCHA NEXT CHAPTER IN YANACOCHA’S LONG HISTORY ▪ Yanacocha is South America’s largest gold mine and has generated ▪ Yanacocha Sulfides will profitably extend Yanacocha operations nearly 40 million ounces of gold since 1993 beyond
Slide 6: Steady Production Through Industry-Best Portfolio
Steady Production Through Industry-Best Portfolio INDICATIVE 10-YEAR PRODUCTION PROFILE* (Attributable Moz per Year) 10 9 Total GEO Production** 8 Gold Production** 7 6 SOUTH AMERICA*** 5 AFRICA 4 3 AUSTRALIA 2 NORTH AMERICA*** 1 - 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 ~8 Million Gold Eq
Slide 7: World-Class Assets in Top-Tier Jurisdictions
World-Class Assets in Top-Tier Jurisdictions World’s Leading Gold Company ▪ Nine world-class assets in top-tier jurisdictions* Musselwhite ▪ Robust gold reserves of 96Moz and 68Moz 20% in GEO reserves** Éléonore Nevada Gold Mines**** ▪ Stable production of average ~8M GEOs* Turquoise Ridge annually
Slide 8: Robust Gold Reserves in Top-Tier Jurisdictions
Robust Gold Reserves in Top-Tier Jurisdictions Africa 9% Other North America 11% 35% Australia Silver 13% 12% GOLD RESERVES* GEO RESERVES* 96 Moz 68 Moz + + GOLD RESOURCES** GEO RESOURCES** 112 Moz 112 Moz Copper 77% South America 43% ✓ 91% Reserves and Resources located in the Americas & Australia
Slide 9: Moving Toward a Fully-Vaccinated Workforce
Moving Toward a Fully-Vaccinated Workforce VACCINATION STATUS BY SITE* National Vaccination Rate Percent of Workforce that is Fully-Vaccinated (Managed Operations) 100% 100% 100% 100% 100% 100% 93% 91% 89% 86% 78% 78% Éléonore Musselwhite Tanami Boddington Yanacocha CC&V Cerro Negro Porcupine Peñasq
Slide 10: Rob Atkinson
Rob Atkinson CREATING VALUE & IMPROVING LIVES CHIEF OPERATING OFFICER THROUGH SUSTAINABLE, RESPONSIBLE MINING FULL YEAR & FOURTH QUARTER 2021 EARNINGS NEWMONT CORPORATION 10
Slide 11: Australia Delivers Strong Q4 Performance
Australia Delivers Strong Q4 Performance ▪ Tanami was a solid contributor as higher grade mined more than offset impacts to productivity from Covid-related restrictions ▪ Progressing the Tanami Expansion 2 project; advancing headframe construction and completed majority of procurement and engineerin
Slide 12: Improving Safety and Productivity at Boddington
Improving Safety and Productivity at Boddington PROTECTING OUR FULLY-AUTONOMOUS % MATERIAL MOVED BY AUTONOMOUS HAULAGE FLEET WORKFORCE HAULAGE FLEET 0 36 100% Mining injuries reported since Autonomous haul trucks replace AHS implementation 41 conventional trucks 80% REDUCING VEHICLE DECREASING TIRE
Slide 13: North America Delivers Solid Q4 Results
North America Delivers Solid Q4 Results ▪ Peñasquito delivered strong mill performance and grade; stripping in Chile Colorado and Peñasco to ramp up in 2022 ▪ Éléonore delivered solid results; impacted by labor shortages, resulting in lower development and tons processed during the year ▪ Musselwhit
Slide 14: Africa Building Momentum into 2022
Africa Building Momentum into 2022 ▪ Akyem was a solid contributor throughout 2021; layback starting in 2022 ▪ Ahafo delivered the year’s strongest quarterly performance from higher grade despite challenges with haul truck availability at Subika underground; grade to improve in 2022 ▪ Ramping up Sub
Slide 15: South America Delivers Strong Finish to 2021
South America Delivers Strong Finish to 2021 ▪ Merian delivered higher throughput from ore blending strategy, offsetting mill and equipment maintenance; steady performance to continue into 2022 ▪ Yanacocha focused on higher grades and optimal ore placement on leach pads ahead of Sulfides; recovery d
Slide 16: Nancy Buese
Nancy Buese CREATING VALUE & IMPROVING LIVES CHIEF FINANCIAL OFFICER THROUGH SUSTAINABLE, RESPONSIBLE MINING FULL YEAR & FOURTH QUARTER 2021 EARNINGS NEWMONT CORPORATION 16
Slide 17: Full-Year and Fourth Quarter Financial Performance
Full-Year and Fourth Quarter Financial Performance METRICS Q4 2020 Q4 2021 FY 2020 FY 2021 Profit Metrics Revenue ($M) $3,381 $3,390 $11,497 $12,222 * Adjusted Net Income ($M) $856 $624 $2,140 $2,371 * Adjusted Net Income ($/diluted share) $1.06 $0.78 $2.66 $2.96 * Adjusted EBITDA ($M) $1,772 $1,599
Slide 18: Q4 Adjusted Net Income of $0.78 per Share
Q4 Adjusted Net Income of $0.78 per Share GAAP TO ADJUSTED NET INCOME ($/DILUTED SHARE) * $1.10 $0.02 ($0.21) ($0.05) $0.78 ($0.08) GAAP Net income from Reclamation and Gain on asset and Change in fair value of Other** Adjusted net income continuing operations remediation charges investment sales in
Slide 19: Industry-Leading Dividend Framework
Industry-Leading Dividend Framework ▪ Leading $1.00/share sustainable base dividend ANNUALIZED DIVIDEND PAYOUT $2.80 - $3.70 ▪ Targeting 40% – 60% of incremental attributable Free Cash Flow above $1,200/oz returned to shareholders ▪ Evaluating gold price increments of ~$300/oz $2.20 - $2.80 ▪ Approv
Slide 20: Delivering on Capital Allocation Strategy
Delivering on Capital Allocation Strategy ✓ Delivered first Autonomous Haulage Fleet to gold mining industry ✓ Approved full funds for Ahafo North and progressing Tanami Expansion 2 INVESTING IN ORGANIC ✓ Progressing Yanacocha Sulfides; full funds decision expected in late-2022 GROWTH ✓ Progressed d
Slide 21: Tom Palmer
Tom Palmer CREATING VALUE & IMPROVING LIVES PRESIDENT & CHIEF EXECUTIVE OFFICER THROUGH SUSTAINABLE, RESPONSIBLE MINING FULL YEAR & FOURTH QUARTER 2021 EARNINGS NEWMONT CORPORATION 21
Slide 22: #1 gold producer with ~8M GEOs per year through 2031
#1 gold producer with ~8M Proven operating model and Focused on industry-leading GEOs* per year through 2031 and deep bench of experienced returns to shareholders with significant exposure to other leaders with strong track record disciplined capital allocation metals through the cycle Strong free c
Slide 23: Appendix
Appendix FULL YEAR & FOURTH QUARTER 2021 EARNINGS NEWMONT CORPORATION 23
Slide 24: 2022 Outlook by Site
2022 Outlooka by Site Consolidated Consolidated Sustaining Development Consolidated Attributable Consolidated All- Capital Capital Production Production Consolidated CAS In Sustaining Expenditures Expenditures 2022 Outlook (+/-5%) (Koz, GEOs Koz) (Koz, GEOs Koz) ($/oz) Costs b ($/oz) ($M) ($M) a 202
Slide 25: 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 26: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA Management uses Earnings before interest, taxes and depreciation and amortization (“EBITDA”) and EBITDA adjusted for non-core or certain items that have a disproportionate impact on our results for a particular period (“Adjusted EBITDA”) as non-GAAP measures to evaluate th
Slide 27: 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 28: 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 29: Attributable free cash flow
Attributable free cash flow Three Months Ended December 31, 2020 Year Ended December 31, 2020 Attributable to Attributable to Attributable to Attributable to noncontrolling Newmont noncontrolling Newmont Consolidated interests (1) Stockholders Consolidated interests (1) Stockholders Net cash provide
Slide 30: All-in Sustaining Costs
All-in Sustaining Costs Newmont has developed a metric that expands on GAAP measures, such as cost of goods sold, and non-GAAP measures, such as costs applicable to sales per ounce, to provide visibility into the economics of our mining operations related to expenditures, operating performance and t
Slide 31: All-in Sustaining Costs
All-in Sustaining Costs Advanced Projects, Sustaining Research and Care and Capital and All-In Costs Development Maintenance Treatment Lease All-In Sustaining Three Months Ended Applicable to Reclamation and General and and Other and Refining Related Sustaining Ounces Costs Per December 31, 2021 Sal
Slide 32: All-in Sustaining Costs
All-in Sustaining Costs Advanced Projects, Care and Sustaining Research and Maintenance Capital and All-In Costs Development and Other Treatment Lease All-In Sustaining Year Ended Applicable Reclamation and General and Expense, and Refining Related Sustaining Ounces Costs Per December 31, 2021 to Sa
Slide 33: 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 are 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 Se
Slide 34: 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 35: 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 36: 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 37: Endnotes
Endnotes Investors are encouraged to read the information contained in this presentation in conjunction with the most recent Form 10-K for the year ended December 31, 2021 filed with the SEC on February 24, 2022 (including without limitation the risks related to COVID-19 under the heading “Risk Fact
Slide 38: 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 39: Endnotes
Endnotes 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 generated from Net cash provi