Mr. Tom Palmer reports

NEWMONT RECEIVES CLEARANCES FROM AUSTRALIA'S FOREIGN INVESTMENT REVIEW BOARD AND JAPAN'S FAIR TRADE COMMISSION

Following a review by Australia's Foreign Investment Review Board (FIRB), the treasurer has cleared Newmont Corp. to proceed with its proposed acquisition of Newcrest Mining Ltd., issuing a no objection notification (NON). The NON is conditioned upon compliance with standard tax conditions associated with the commonwealth's taxation laws. Last week, Japan's Fair Trade Commission (JFTC) issued a clearance letter allowing closing of the proposed transaction to proceed any time after Sept. 30, 2023.

Newmont continues advancing other regulatory approvals and expects to close the transaction in the fourth quarter of this year. In August, the Australian Competition & Consumer Commission also cleared the proposed acquisition and conveyed its recommendation to the FIRB. Remaining regulatory approvals include the Philippine Competition Commission (PCC). Newmont and Newcrest also continue engaging with the PNG (Papua New Guinea) government and regulators about other approvals and clearances for the transaction.

"Following a thorough review by regulators, we are pleased that the transaction has been given the green light to proceed in Australia and Japan," said Tom Palmer, Newmont's president and chief executive officer. "In addition to further strengthening Newmont's operational footprint, our entry into the Australian investment market will allow us to attract shareholders from Australia and the Asia Pacific region, positioning Australia as a key centre of gravity for Newmont's global business."

On May 14, Newmont announced its definitive agreement to acquire Newcrest. The combination would create a world-class portfolio of assets with the highest concentration of Tier 1 operations, primarily in favourable, low-risk mining jurisdictions. Upon closing of the transaction, the combined company would deliver a multidecade production profile from 10 large, long-life, low-cost, Tier 1 operations and increased annual copper production, primarily from Australia and Canada. The combined business is anticipated to generate annual pretax synergies of $500-million, expected to be achieved within the first 24 months, while also targeting at least $2-billion in cash improvements through portfolio optimization in the first two years after closing.

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.

Newmont's purpose is to create value and improve lives through sustainable and responsible mining.

We seek Safe Harbor.