Slide 1: Newmont to Acquire Newcrest
Newmont to Acquire Newcrest Tom Palmer, President & CEO CREATING VALUE & IMPROVING LIVES THROUGH SUSTAINABLE, MAY 15, 2023 RESPONSIBLE MINING MAY 2023 INVESTOR PRESENTATION – NEWMONT TO ACQUIRE NEWCREST NEWMONT CORPORATION 1
Slide 2: Cautionary Statement Regarding Forward-Looking Statements
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 to be covered by the
Slide 3: Additional Information About the Transaction and Where to Find It
ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND I T This presentation is not an offer to purchase or exchange nor a solicitation of an offer to sell securities of Newmont or Newcrest nor the solicitation of any vote or approval in any jurisdiction nor shall there be any such issuance
Slide 4: Newcrest Acquisition Underpinned by Clear Strategy
NEWCREST ACQUISITION UNDERPINNED BY CLEAR STRATEGY STRATEGIC DRIVERS NEWCREST PORTFOLIO NEWMONT 2050 Responsible Gold Tier 1 Assets & Leading Portfolio of Tier 1 Leadership Projects Assets & Projects Global Megatrends Industry World’s Most Favorable STRATEGIC Australia & Canada Consolidation Mining
Slide 5: Newmont & Newcrest – A Powerful Value Proposition
NEWMONT & NEWCREST – A POWERFUL VALUE PROPOSITION The New World-Class Delivering Driving SUSTAINABILITY STANDARD PORTFOLIO SYNERGIES CAPITAL ALLOCATION The Gold Sector’s Recognized 10 Tier 1 Operations with Proven Track Record of Newmont Committed to Leading Shareholder Sustainability Leader Gold &
Slide 6: The Sector's Recognized Gold Sustainability Leader
THE THE GOLD SIGNIFICANT SECTOR’S RECOGNIZED MILESTONES GOLD SECTOR’S SUSTAINABILITY IN OUR ESG SUSTAINABILITY RECOGNIZED JOURNEY LEADER LEADER 2001 2004 2007 2013 2016 2020 Founding member Established Safety Appointed Adopted Conflict-Free Sustainability and Implementing Global of ICMM & Sustainabi
Slide 7: Tier 1 Operations with Gold & Copper Exposure
TIER 1 OPERATIONS WITH GOLD & COPPER EXPOSURE PORTFOLIO OF STABLE MINING DOUBLING COPPER TIER 1 ASSETS JURISDICTIONS EXPOSURE 10 ~80% +50 Blbs ~2/3 of total gold production from Gold production from the Americas Added to Newmont’s 42Blbs of Tier 1 assets and Australia copper reserves and resources*
Slide 8: Combines Two of Australia's Top Gold Producers
COMBINES TWO OF AUSTRALIA’S TOP GOLD PRODUCERS TANAMI TELFER BODDINGTON CADIA = Operation = Tier 1 Asset* *See endnotes re definition of Tier 1 asset. Leverages Newmont’s Scalable Operating Model & Combined Talent MAY 2023 INVESTOR PRESENTATION – NEWMONT TO ACQUIRE NEWCREST NEWMONT CORPORATION 8
Slide 9: Integrating a Tier 1 Gold Mine in Papua New Guinea
INTEGRATING A TIER 1 GOLD MINE IN PAPUA NEW GUINEA WAFI-GOLPU JV LIHIR = Project = Tier 1 Asset* *See endnotes re definition of Tier 1 asset. Growth from the World-Class Wafi-Golpu Project MAY 2023 INVESTOR PRESENTATION – NEWMONT TO ACQUIRE NEWCREST NEWMONT CORPORATION 9
Slide 10: Strengthens Newmont's Position in Canada
STRENGTHENS NEWMONT’S POSITION IN CANADA GALORE CREEK JV SADDLE NORTH BRUCEJACK MUSSELWHITE RED CHRIS ÉLÉONORE Tier 1 District = Project Golden Triangle = Operation PORCUPINE = Tier 1 Asset* *See endnotes re definition of Tier 1 asset. Building Tier 1 District in British Columbia’s Highly-Prospectiv
Slide 11: Proven Track Record of Delivering Synergies
PROVEN TRACK RECORD OF DELIVERING SYNERGIES $200M $500M Full Potential $200M Supply Chain $100M G&A $500M of Annual Synergies Expected Within 24 Months See endnotes re synergies and Full Potential. MAY 2023 INVESTOR PRESENTATION – NEWMONT TO ACQUIRE NEWCREST NEWMONT CORPORATION 11
Slide 12: Disciplined Capital Allocation Strategy Unchanged
DISCIPLINED CAPITAL ALLOCATION STRATEGY UNCHANGED MAINTAINING FINANCIAL FLEXIBILITY Sustain an Investment-Grade Balance Sheet with Strength & Flexibility BALANCED INVESTING IN SUSTAINABLE PRODUCTION CAPITAL ALLOCATION Reinvest in the Business to Improve Cash Margins Over the Long Term STRATEGY RETUR
Slide 13: Transaction Summary
TRANSACTION SUMMARY RECOMMENDED SHARE-FOR-SHARE TRANSACTION ▪ Newmont to acquire all outstanding Newcrest equity at an exchange ratio of 0.400x of a Newmont share (or 0.400 Newmont CDIs) for each Newcrest share ▪ Newcrest to fund and pay to its shareholders a special dividend of up to USD$1.10 per N
Slide 14: Newmont & Newcrest – A Powerful Value Proposition
NEWMONT & NEWCREST – A POWERFUL VALUE PROPOSITION The New World-Class Delivering Driving SUSTAINABILITY STANDARD PORTFOLIO SYNERGIES CAPITAL ALLOCATION The Gold Sector’s Recognized 10 Tier 1 Operations with Proven Track Record of Newmont Committed to Leading Shareholder Sustainability Leader Gold &
Slide 15: Appendix
Appendix MAY 2023 INVESTOR PRESENTATION – NEWMONT TO ACQUIRE NEWCREST NEWMONT CORPORATION 15
Slide 16: Endnotes
Endnotes Investors are encouraged to read the information contained in this presentation in conjunction with the most recent Form 10-Q for the quarter ended March 31, 2023 filed with the SEC on April 27, 2023. Investors are reminded that expectations regarding outlook and guidance, including future
Slide 17: Endnotes
Endnotes Cautionary Statement Regarding Reserve and Resource Estimates: The reserves stated herein were prepared in compliance with Subpart 1300 of Regulation S-K adopted by the United States Securities and Exchanges Commission (the “SEC”) and represent the amount of gold, copper, silver, lead, zinc
Slide 18: Endnotes
Endnotes Reserve and Resource Estimates (cont.): Estimates of Proven and Probable reserves are subject to considerable uncertainty. Such estimates are, or will be, to a large extent, based on the prices of gold, silver, copper, zinc, lead and molybdenum and interpretations of geologic data obtained