Mr. Tom Palmer reports

NEWMONT CEO'S STATEMENT ON PENDING ACQUISITION OF NEWCREST ACHIEVING LEGAL EFFECTIVENESS IN AUSTRALIA

Newmont Corp.'s president and chief executive officer, Tom Palmer, today issued a statement after the scheme of arrangement, under which Newcrest Mining Ltd. will be acquired by Newmont, became legally effective under Australian law. This followed lodging of the orders of the Federal Court of Australia with the Australian Securities and Investments Commission after Newcrest's shareholders voted in favour of the scheme.

"This milestone represents a pivotal and historic moment in our strategy to create the world's premier gold and copper company by consolidating Tier 1 assets in the world's most favourable mining jurisdictions," said Tom Palmer, Newmont's president and chief executive officer. "Once complete, our combined business will feature 10, Tier 1 operations supporting decades of safe, profitable, and responsible gold and copper production, with best-in-class sustainability performance. We appreciate Newcrest's and Newmont's shareholders' vote of confidence in our value-focused strategy, proven operating model and seasoned management team."

All regulatory, shareholder and legal approvals for the proposed acquisition of Newcrest by Newmont have been secured. Newmont and Newcrest expect the transaction to close in early November.

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.

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.

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