Mr. Tom Palmer reports

NEWMONT CLEARED BY PNG'S SECURITIES COMMISSION TO PROCEED WITH PROPOSED ACQUISITION OF NEWCREST

The Securities Commission of Papua New Guinea (SCPNG) has granted the necessary exemptions and other requested confirmations under Papua New Guinea (PNG) capital markets law to allow Newmont Corp. to proceed with its proposed acquisition of Newcrest Mining Ltd. Last week, the Philippine Competition Commission (PCC) also indicated its approval of the proposed transaction. All of the government regulatory approvals necessary for the transaction to proceed have now been secured.

Tom Palmer, Newmont's president and chief executive officer, thanked PNG's government and went on to state: "We look forward to building strong and mutually beneficial partnerships with the government and people of Papua New Guinea to generate lasting shared value and meaningful economic development through the world-class Lihir gold mine and the highly prospective Wafi-Golpu gold and copper project. As the world's leading gold company, we recognize PNG's significant, untapped economic potential, and support providing its citizens the opportunity to invest in and benefit from our operations, projects and social contributions."

Newmont recently announced it has taken steps to establish a dedicated business unit in PNG with the appointment of Alwyn Pretorius, who will assume the role of managing director and be based in Port Moresby. Newmont also plans to establish a secondary listing of Newmont stock depositary interests on the PNGX (Papua New Guinea's National Stock Exchange) from closing of the transaction.

On May 14, 2023, 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.

Newmont and Newcrest anticipate the transaction closing in the fourth quarter of this year, subject to the satisfaction of customary closing conditions. Newmont stockholders will vote on the proposed transaction on Oct. 11, 2023, at 8 a.m. MT and Newcrest's shareholder vote will take place on Friday, Oct. 13, 2023, at 10:30 a.m. AET (Australian eastern time).

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.