Mr. Omar Jabara reports

NEWMONT URGES UNION AT PENASQUITO MINE IN MEXICO TO ABIDE BY LABOR AGREEMENT

Newmont Corp. has suspended operations at the company's Penasquito mine in Mexico while refuting claims by the National Union of Mine and Metal Workers of the Mexican Republic regarding violating legal regulations and labour agreements. The company urged the union to abide by the mutually agreed collective bargaining agreement (CBA) negotiated and signed by both parties in June of 2022.

On June 7, 2023, the union notified the company of a strike action demanding an increase in the uncapped profit sharing benefit provided for in the CBA from 10 per cent to 20 per cent, representing a 100-per-cent increase. In response to the strike notice, Minera Penasquito has suspended operations in a safe and orderly manner. Essential activities related to safety, security and environmental monitoring and protection continue.

Prior to the strike action, Newmont attempted, in good faith, to resolve disputes regarding the provisions in the CBA, negotiated and signed by both parties for the period of June, 2022, through June, 2024. This agreement covered a range of benefits, including an annual profit sharing provision based on a consistent calculation formula. The calculation method was previously agreed with the union and applies the same formula to calculate the profit sharing benefit payments for both 2022 and 2023. On May 30, 2023, Minera Penasquito paid all eligible employees the mutually agreed upon 10-per-cent profit sharing benefit for 2023, accurately and on time.

Newmont remains willing to participate in conciliation meetings to reach a resolution in accordance with the CBA, and will continue to adhere to legal procedures, respecting the rights of all its employees, inviting the union to engage in a constructive dialogue, and providing the authorities with all requested information. Newmont is committed to the highest standards for integrity and transparency, and looks forward to returning its focus to safe and sustainable mining at Penasquito for the benefit of the work force and surrounding communities.

In 2022, Penasquito contributed $1.9-billion (U.S.) in economic value to Mexico, including $643-million (U.S.) in employee wages and benefits, tax and royalty payments to federal, state and local governments, and investments in community infrastructure and water projects. Minera Penasquito is the largest employer in Zacatecas, Mexico, with a direct work force of more than 5,000. The mine supports another 28,000 people and their families in neighbouring communities and across the country who are part of the mine's local and national supply chain.

About Newmont Corp.

Newmont is the world's leading gold company and a producer of copper, silver, zinc and lead. The company's world-class portfolio of assets, prospects and talent is anchored in favourable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.