Slide 1: Third Quarter 2025 Results
Third Quarter 2025 Results October 23, 2025 THIRD QUARTER 2025 RESULTS NEWMONT CORPORATION 1
Slide 2: Cautionary Statement Regarding Forward Looking Statements, Including Guidance Assumptions, and Notes
Cautionary Statement Regarding Forward Looking Statements, Including Guidance Assumptions, and Notes 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
Slide 3: Leadership Succession and Continuity
Leadership Succession and Continuity Tom Palmer will retire as CEO on December 31, 2025, and will serve as a strategic advisor through March 31, 2026, ensuring a seamless transition Natascha Viljoen will become President and CEO on January 1, 2026, and will serve as Newmont’s 11th CEO in its 100+ ye
Slide 4: Q3 2025 Highlights
Q3 2025 Highlights Improving 2025 Cost and Capital Guidance First Gold Pour at Ahafo North Safely recovered teammates at our Red Chris project Received net cash proceeds of nearly $640M from asset and equity sales* Generated a record third-quarter free cash flow of $1.6B Improved 2025 cost and capit
Slide 5: Strong Q3 Operational Performance
Strong Q3 Operational Performance Driven by Core Managed Operations Core Managed Operations Core Non-Managed Operations Total Core Portfolio ATTRIBUTABLE GOLD PRODUCTION* 1,054Koz 367Koz 1,421Koz GOLD CAS Co-Product/By-Product $1,172/oz / $732/oz $1,241/oz** $1,185/oz / $831/oz GOLD AISC Co-Product/
Slide 6: Q3 2025 Financial Performance
Q3 2025 Financial Performance Remain on Track to Deliver on Full-Year Commitments ADJUSTED GAAP ADJUSTED NET AVERAGE REALIZED EBITDA* NET INCOME INCOME* GOLD PRICE $3.3B $1.67/sh. $1.71/sh. $3,539/oz CASH FROM FREE CASH & CASH GOLD ALL-IN OPERATIONS CASH FLOW* EQUIVALENTS SUSTAINING COST* $2.3B $1.6
Slide 7: Cost Initiatives Drive Improved 2025 Guidance
Cost Initiatives Drive Improved 2025 Guidance* 2025 CORE PORTFOLIO Q4 2025 (+/- 5%) GUIDANCE GUIDANCE PERFORMANCE DRIVERS Strong execution across our managed operations has positioned Newmont to achieve its Gold Production** 5.6Moz 1.4Moz full-year guidance Cost savings initiatives are largely offse
Slide 8: Disciplined Capital Allocation Strategy
Disciplined Capital Allocation Strategy Remains Unchanged 2025 YTD STATUS Cash $5.6B Building a stronger, more flexible financial position STRONG & FLEXIBLE BALANCE SHEET Debt* $5.4B Near-zero net debt position; assessing opportunities to reduce further Sustaining ~$1.65B of disciplined portfolio re
Slide 9: Leveraging Portfolio Strength
Leveraging Portfolio Strength Well Positioned to Continue Delivering on Commitments STABLE RECORD REPAID 2025E PRODUCTION FREE CASH FLOW OUTSTANDING DEBT 5.6Moz $4.5B $3.9B On track to achieve production Generated YTD 2025, an annual Paid since November 2023, ending Q3 and unit cost guidance record
Slide 10: Appendix
Appendix
Slide 11: Third Quarter Portfolio Performance
Third Quarter Portfolio Performance Focused on Meeting Guidance Commitments and Improving Costs & Productivity ▪ Strong production through Q3 2025 ▪ Delivered lower proportion of gold and ▪ Delivered consistent ounces from the driven by higher gold and copper steady lead, silver, and zinc in Q3 2025
Slide 12: Non-Core Divestiture Program Complete
Non-Core Divestiture Program Complete >$3.5B in Total Gross Cash Proceeds Delivered in 2024 and 2025* CASH PROCEEDS AT CLOSE* ADDITIONAL PROCEEDS TIMING OF CLOSE Greatland shares, valued at $168M in the transaction agreement TELFER & HAVIERON $217M $274M in cash proceeds received from sale of 50% of
Slide 13: Direct Operating Costs by Category
Direct Operating Costs by Category* Newmont’s Core Portfolio 3% Other 8% 4% Chemicals, Other 25% 5% Reagents, & 7% Newmont Liners & Explosives Diesel Employees Wear Parts 50% 30% 15% Materials & Fuel & Energy Labor Costs Consumables Costs 25% 7% 7% Contracted Consumables Maintenance Services Parts 4
Slide 14: Basis for 2025 Guidance
Basis for 2025 Guidance PRICING ASSUMPTIONS AND SENSITIVITIES (as of February 20, 2025) ASSUMPTION CHANGE (-/+) REVENUE IMPACTS ($M)*** Gold ($/oz)* $2,500 $100 $517 Copper ($/tonne)** $9,370 $550 $65 Silver ($/oz) $30.00 $1.00 $25 Lead ($/tonne)** $2,094 $220 $20 Zinc ($/tonne)** $2,756 $220 $50 AS
Slide 15: 2025 Consolidated Expense and Capital Guidance
2025 Consolidated Expense and Capital Guidance GUIDANCE METRIC (+/-5%)a 2025E Q4 2025 Sustaining Capital ($M) Total Core Portfolio $1,650 $450 Non-Core Assets b $75 - Total Newmont Sustaining Capital c $1,725 $450 Development Capital ($M) Total Core Portfolio $1,250 $350 Non-Core Assets b $30 - Tota
Slide 16: 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) Primarily consists of the gain on the divestments of certain non-core assets; included in (Gain) l
Slide 17: 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 September 30, September 30, (1) Primarily consists of the gain on the sales of certain non-core assets in 2025 and 2025 2024
Slide 18: 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 19: 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 20: 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 21: 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 22: Gold All-in Sustaining Costs - 2025 Guidance
Gold All-in Sustaining Costs - 2025 Guidance A reconciliation of the 2025 Gold AISC guidance to the 2025 Gold CAS guidance 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
Slide 23: 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, 2025, filed on October 23, 2025. Investors are reminded that expectations regarding outlook and guidance, including future financial re
Slide 24: Endnotes
Endnotes All-in Sustaining Cost. AISC or All-in sustaining cost is a non-GAAP metric. AISC as used in the Company’s outlook is a forward-looking statement and is therefore subject to uncertainties. AISC a non-GAAP metric defined as the sum of cost applicable to sales (including all direct and indire