Newmont : Investor Presentation - May 2026

About this update from Newmont Corporation

Investor Presentation MAY 2026 Q1 2026 Performance NEWMONT CORPORATION INVESTOR PRESENTATION - MAY 2026 3 First Quarter 2026 Highlights On track to meet full year 2026 guidance Attributable Gold Production 1 1.3 Moz 30kt of copper and 9Moz of silver from full portfolio Robust Free Cash Flow 2 $3.1 B Generated all-time record quarterly free cash flow Returns to Shareholders 3 $2.7 B Through quarterly dividends and ongoing share repurchases Adjusted Net Income 2 $2.90 /share All-time quarterly ANIPS record Effectively executed safety procedures following magnitude 4.5Mla earthquake near Cadia Received ~$321M in after tax proceeds from contingency payments and sale of equity investments Repurchased $2.4B shares 3 and announced new $6.0B share repurchase authorization Maintained 2026 all-in sustaining cost guidance, mitigating geopolitical and macroeconomic impacts (1) Represents attributable production for the total portfolio, including production from the Company's equity method investments in Pueblo Viejo and Lundin Gold. (2) Free cash flow and Adjusted Net Income are non-GAAP metrics; see reconciliations on slides 18 & 19. (3) Returns to shareholders include total share repurchases and dividends paid since February 19, 2026. First Quarter Portfolio Performance Asia Pacific & Africa Leveraging a strong foundation to advance near-term production growth Strong Q1 production driven by higher grade as a result of improved underground draw point availability Expect to process lower grades in H2 on completion of stockpiles from Subika open pit which completed mining in 2025 Ahafo South Lihir Tanami ▪ ▪ ▪ Completed planned maintenance in Q1 to support strong H2 production, with higher grades expected in Q4 Work on Nearshore Barrier expected to commence in H2, unlocking access to over 5Moz beginning in 2028 ▪ Lower production from planned mine sequencing; production to return to normal levels beginning in Q2 Second expansion progressing; primary crusher commissioned and handling system completion on track for end of Q2 Ahafo North Boddington Continuing to ramp up mill for first full year of production Updated pit design to deliver higher gold grades beginning in Q4 ▪ ▪ Production to return to normal levels beginning in Q2 following the Dec. 2025 bushfires impact Continue to advance waste stripping campaign in North and South pits with higher grade gold expected in H2 ▪ Higher gold and co-product production driven by improved throughput Last draw bell at PC2-3 fired in April, project on track to be completed in late 2026 Cadia The Americas Peñasquito Cerro Negro Delivering strong co-product production, with higher throughput expected in Q3 after planned maintenance in Q2 Continue to process stockpiles during transition from Phase 7 to 8, higher grades expected beginning in 2028 Expect to deliver higher production in H2 driven by increased mining rates and access to higher grade stopes Continuing to advance mine life extension activities Merian Yanacocha Improved throughput and consistent recoveries expected to deliver stable production throughout 2026 Continue to advance exploration activities around this emerging asset Continuing mining through 2026, adding incremental low-cost ounces beginning in 2027 Evaluating opportunities in surrounding regions of Peru to support future investment decisions Red Chris Delivering steady production as a result of mine sequence optimization and improved stope availability Brucejack Focused on advancing near-mine exploration opportunities Production expected to decrease with stockpile processing during planned stripping campaign Advancing Feasibility Study and permitting work for block cave project See endnotes re: forward looking statements. First Quarter 2026 Financial Performance Operational excellence continues to drive strong financial results ADJUSTED EBITDA $5.2 B GAAP NET INCOME $3.00 /sh. ADJUSTED NET INCOME $2.90 /sh. AVERAGE REALIZED GOLD PRICE $4,900 /oz CASH FROM OPERATIONS $3.8 B FREE CASH FLOW $3.1 B CASH & CASH EQUIVALENTS $8.8 B GOLD ALL-IN SUSTAINING COST 1 $1,029 /oz Well-positioned to continue delivering robust free cash flow Adjusted EBITDA, Adjusted Net Income, Free cash flow, and All-in Sustaining Costs are non-GAAP financial measures, see reconciliation endnotes in appendix for additional information. (1) On a by-product basis Delivering on Enhanced Capital Allocation Framework 1 Generating disciplined, sustainable returns through the commodity and investment cycles Q1 2026 TARGETS Constant through the cycle Sustaining Capital $381 M $1.95 B Expected 2026 Spend (+/- 5%) On track to meet full year guidance with spend expected to accelerate beginning in Q2 Total Cash Dividend $282 M $1.1 B Targeted Annual Payment Quarterly dividend currently $0.26/share, subject to approval by Board of Directors 2 Flex through the cycle Development Capital $239 M $1.4 B Expected 2026 Spend (+/- 5%) Steady investment in organic projects in execution Net Cash/ (Net Debt) $3.2 B $1.0 B Net Cash Target (+/- $2.0B) Cash balance may vary on a quarterly basis Excess Cash 3 Share Repurchases $2.4 B Repurchased since Feb. 19, 2026 4 $6.0 B New Authorization New $6.0B Board approved share repurchase authorization, following completion of previous programs (1) See endnotes re: forward-looking statements, non-GAAP metrics, dividends, share repurchases and capital allocation framework. (2) A dividend of $0.26/share has been declared payable on June 22, 2026, to holders of record of such common stock at the close of business on May 27, 2026. Future dividend remain subject to approval and declaration by the Board. (3) Excess Cash is defined as cash available from operations (including Exploration, G&A, etc.) after funding balance sheet obligations (including debt principal repayments and reclamation spend), capital expenditures, other investing activities, paying the dividend, and achieving the net cash target. (4) Represents total share repurchases since February 19, 2026 including $1.9B shares repurchased in the first quarter and $556M of shares repurchased in April 2026. Executing with Discipline, Delivering Results Unrivaled portfolio of world-class assets and operational excellence, driving margin expansion and capital returns On Track to Achieve 2026 Guidance Strong first quarter gold, silver and copper production, as well as diligent cost performance, supporting continued delivery of our commitments World-Class Portfolio Driving Margin Expansion and Free Cash Flow Growth Well-positioned to drive margin expansion and generate robust free cash flow, underpinned by an unrivaled portfolio of world-class operations and projects Enhanced Capital Allocation Framework Delivering Results Delivering predictable dividends and ongoing share repurchases, supported by an enhanced framework and new $6.0 billion share repurchase authorization NEWMONT CORPORATION 8 INVESTOR PRESENTATION - MAY 2026 NEWMONT CORPORATION 8 World-Class Portfolio NEWMONT CORPORATION INVESTOR PRESENTATION - MAY 2026 9 World Class Portfolio in Leading Mining Jurisdictions 12 managed operations located in the world's most favorable jurisdictions Unmatched scale, longevity, and quality - built to deliver sustained performance for decades North America Brucejack Red Chris Nevada Gold Mines JV Asia Pacific Lihir Boddington Cadia Cadia Panel Caves Tanami Tanami Expansion 2 Latin America Peñasquito Merian Cerro Negro Yanacocha Pueblo Viejo JV Fruta del Norte Ghana Ahafo North Ahafo South Managed Operation Project in Execution Non-Managed JV Equity Investment Leading the gold sector with 118 Moz in reserves and 149 Moz in resources 1 2 major projects in execution with the industry's leading organic project pipeline (1) Gold Resources consist of 88.1Moz Measured and Indicated and 60.6Moz Inferred Resources. See cautionary statement re: mineral reserve and resource estimates. Robust Reserves in Stable Jurisdictions Industry leading reserves and resources, supporting decades of production Ghana 7% South America 20% 118 Moz Reserves 149 Moz Resources 1 Australia 25% North America 30% Papua New Guinea 18% Gold Reserves and Resources South America 45% 13 Mt Reserves 19 Mt Resources 1 Australia 27% North America 9% Papua New Guinea 19% Copper Reserves and Resources Increased reserve pricing to $2,000/oz, ~23% below the 3-year trailing average Regional breakdown reflective of Reserves only. (1) Gold Resources consist of 88.1Moz Measured and Indicated and 60.6Moz Inferred Resources. Copper Resources consist of 13.1Mtonnes Measured and Indicated and 5.6Mtonnes Inferred Resources. See cautionary statement re: mineral reserve and resource estimates. Projects Underway Advancing projects in execution and preparing Nearshore Barrier at Lihir to extend mine life Tanami Expansion 2 1.5km deep production shaft, increasing productivity and improving efficiency Cadia Panel Caves Two caves to recover over 5.0Moz of gold reserves and 1.0Mtonnes copper reserves Lihir Nearshore Barrier Extends mine life beyond 2040, enabling production of over 5.0Moz of gold 2026 Capital Spend ~$335 M Spend to date: ~$1.3B Projected total spend: $1.7-$1.8B Scheduled Completion H2 2027 Progressing on track and in line with plan 2026 Capital Spend ~$370 M Spend to date: ~$1.6B Projected total spend: ~$2.0-$2.4B Scheduled Completion 2029 PC2-3: Q4 2026 PC1-2: Cave completion in 2029 2026 Capital Spend ~$140 M Spend to date: N/A Projected total spend: ~$500-$550M Scheduled Completion H2 2028 Full funds approval received in February 2026 Completed production shaft concrete lining; shifting to shaft equipping and infrastructure build-out Initiating equipment testing and commissioning; headframe construction and mechanical completion expected late 2026 Cave establishment progressing at PC2-3 with additional drawbells fired; project completion expected in late 2026 First PC1-2 drawbell fired in December 2025, initiating the next critical phase of cave development Construction of a water seepage barrier through installation of an inground concrete wall Unlocks additional mining of the Kapit ore body, allowing profitable production beyond 2040 Operating Sites NEWMONT CORPORATION INVESTOR PRESENTATION - MAY 2026 13 World Class Portfolio in Leading Mining Jurisdictions Unmatched scale, longevity, and quality - built to deliver sustained performance for decades Managed Operations 1 Lihir 11 12 2 Cadia 3 Tanami Non-Managed JV's 1 Nevada Gold Mines 2 Pueblo Viejo 4 Boddington 5 Ahafo South 6 Ahafo North 7 Merian 1 8 Cerro Negro 9 Yanacocha 10 Peñasquito 3 2 11 Red Chris 12 Brucejack 4 2 1 1 10 2 6 5 1 7 9 Equity Ownership 1 Fruta del Norte Projects in Execution 1 Cadia Panel Caves 2 Tanami Expansion 2 8 Lihir: Site Facts World-class gold mine in Papua New Guinea Location Geothermally active extinct volcanic crater on Niolam Island, located 900km from Port Moresby in Papua New Guinea Reserves & Resources 1 15 Year Reserve Life with upside from Resources and Exploration 16.0Moz Gold Reserves 20.7Moz Gold Resources 2026 Outlook 2 As of February 19, 2026 560koz Gold Production $1,475/oz By-Product CAS $1,765/oz By-Product AISC $95M Sustaining Capital $140M Development Capital Operational Focus Continuing to focus on enhancing long-term operational stability and improved asset reliability Initiating work on Nearshore Barrier, unlocking access to over 5Moz and extending mine life beyond 2040 (1) Reserves represent Proven and Probable Reserves. Gold Resources consist of 2.4Moz Measured and Indicated and 18.3Moz Inferred Resources. See cautionary statement re: mineral reserve and resource estimates. Cadia: Site Facts One of the world's largest long-lived gold-copper mines Location 25km from the city of Orange in New South Wales, Australia Reserves & Resources 1 30 Year Reserve Life with upside from Resources and Exploration 13.5Moz Gold Reserves 11.0Moz Gold Resources 2.9Mt Copper Reserves 2.9Mt Copper Resources 21.8Moz Silver Reserves 22.5Moz Silver Resources 100kt Molybdenum Reserves 100kt Molybdenum Resources 2026 Outlook 2 As of February 19, 2026 270koz Gold Production 65kt Copper Production $(180)/oz By-Product CAS $370M Development Capital $1,575/oz By-Product AISC $425M Sustaining Capital Operational Focus First drawbell fired at PC1-2; cave establishment for PC2-3 on track to be completed in late 2026 Advancing tailings improvements and investments to support cave development and extend mine life (1) Reserves represent Proven and Probable Reserves. Gold Resources consist of 9.7Moz Measured and Indicated and 1.3Moz Inferred Resources. Copper Resources consist of 2.6Mt Measured and Indicated and 0.3Mt Inferred Resources. Silver Resources consist of 20.2Moz Measured and Indicated and 2.3Moz Inferred Resources. Molybdenum Resources consist of 100kt Measured and Indicated and 0kt Inferred Resources. See cautionary statement re: mineral reserve and resource estimates. Tanami: Site Facts An underground mine in the Northern Territory of Australia Location In the remote Tanami Desert of Australia, 550 km northwest of Alice Springs in the Northern Territory of Australia Reserves & Resources 1 11 Year Reserve Life with upside from Resources and Exploration 5.3Moz Gold Reserves 5.6Moz Gold Resources 2026 Outlook 2 As of February 19, 2026 365koz Gold Production $1,250/oz By-Product CAS $2,145/oz By-Product AISC $270M Sustaining Capital $330M Development Capital Operational Focus Progressing headframe construction and mechanical work for second expansion project Expansion secures Tanami as a long-life, low-cost producer - extending mine life to ~2040 (1) Reserves represent Proven and Probable Reserves. Gold Resources consist of 2.9Moz Measured and Indicated and 2.7Moz Inferred Resources. See cautionary statement re: mineral reserve and resource estimates. Boddington: Site Facts A cornerstone gold-copper mine in Western Australia Location 16km from the rural farming town of Boddington and 130km from Western Australia's capital city, Perth Reserves & Resources 1 14 Year Reserve Life with upside from Resources and Exploration 10.2Moz Gold Reserves 4.4Moz Gold Resources 500kt Copper Reserves 300kt Copper Resources 2026 Outlook 2 As of February 19, 2026 580koz Gold Production 17kt Copper Production $1,160/oz By-Product CAS $225 Sustaining Capital $1,630/oz By-Product AISC Operational Focus Waste stripping campaign advanced in North and South pits; completion expected in 2026 Production expected to grow in 2027, driven by higher grades following stripping and higher throughput (1) Reserves represent Proven and Probable Reserves. Gold Resources consist of 4.3Moz Measured and Indicated and 0.1Moz Inferred Resources. Copper Resources consist of 300kt Measured and Indicated and 0kt Inferred Resources. See cautionary statement re: mineral reserve and resource estimates. Ahafo South: Site Facts Setting the benchmark for mine development and district expansion with Ahafo North Location Ahafo South is located approximately 290km northwest of Accra, the capital city of Ghana Reserves & Resources 1 8 Year Reserve Life with upside from Resources and Exploration Moz Gold Reserves 7.4Moz Gold Resources 2026 Outlook 2 As of February 19, 2026 440koz Gold Production $1,830/oz By-Product CAS $2,160/oz By-Product AISC $115M Sustaining Capital $10M Development Capital Operational Focus Completed mining in Subika open pit in 2025, as planned Advanced study and exploration work underway to support underground growth beneath Subika and Apensu Ahafo North: Site Facts Commissioned in 2025, bringing new low-cost ounces into portfolio Location Ahafo North is located about 30km from the Ahafo South operation which is approximately 290km northwest of Accra, the capital city of Ghana Reserves & Resources 1 18 Year Reserve Life with upside from Resources and Exploration 4.7Moz Gold Reserves 3.2Moz Gold Resources 2026 Outlook 2 As of February 19, 2026 315koz Gold Production $1,045/oz By-Product CAS $1,285/oz By-Product AISC $55M Sustaining Capital $30M Development Capital Operational Focus Achieved commercial production in October 2025, bringing new low-cost ounces into portfolio Focused on mill ramp-up for first full year of production in 2026 Attention : This is an excerpt of the original content. 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