Mr. Tom Palmer reports

NEWMONT REPORTS FOURTH QUARTER AND FULL YEAR 2023 RESULTS; PROVIDES 2024 OUTLOOK FOR INTEGRATED COMPANY

Newmont Corp. has released fourth quarter and full-year 2023 results as well as its 2024 outlook.

"2023 was a transformational year for Newmont, and for all of our stakeholders," said Tom Palmer, Newmont's President and Chief Executive Officer. "With the acquisition of Newcrest now complete, our principal focus for 2024 is to integrate and transform our leading portfolio of Tier 1 assets into a unique collection of the world's best gold and copper operations and projects. With stable production and structured reinvestment throughout the year, we are strongly positioned to deliver on our commitments in 2024 and set the stage for meaningful growth in 2025 and beyond."

2023 Results1

• Completed the acquisition of Newcrest Mining Limited on November 6, 2023, creating the world's leading gold company with robust copper optionality
• Delivered $1.4 billion in dividends to shareholders in 2023
• Produced 5.5 million gold ounces and 891 thousand gold equivalent ounces (GEOs)2 from copper, silver, lead and zinc; in-line with revised guidance range and incorporating the legacy Newcrest assets from the acquisition close date
• Reported gold Costs Applicable to Sales (CAS) per ounce3 of $1,050 and gold All-In Sustaining Costs (AISC) per ounce3 of $1,444; in-line with revised guidance range and incorporating higher sustaining capital spend for 2023
• Generated $2.8 billion of cash from continuing operations and reported $88 million in Free Cash Flow3 after unfavorable working capital changes of $513 million and $2.7 billion of reinvestment to sustain current operations and advance near-term projects
• Reported Net Loss of $2.5 billion driven by $1.9 billion in impairment charges, $1.5 billion in reclamation charges and $464 million in Newcrest transaction and integration costs; these items are excluded from adjusted earnings results
• Adjusted Net Income (ANI)3 of $1.61 per share and Adjusted EBITDA3 of $4.2 billion for the full year; fourth quarter ANI was $0.50 per share
• Declared increased total Newmont reserves of 136 million gold ounces and resources of 174 million gold ounces4; significant upside to other metals, including copper, silver, lead and zinc

2024 Outlook5

• Announced Newmont's go-forward Tier 1 Portfolio6, which is underpinned by eleven managed Tier 1 and Emerging Tier 1 assets and three non-managed operations; seeking to divest six non-core assets
• 2024 production guidance is expected to be approximately 6.9 million gold ounces for the Total Newmont portfolio; underpinned by 5.6 million gold ounces from the Tier 1 Portfolio6
• Gold CAS is expected to be $1,050 per ounce3, with Gold AISC of $1,400 per ounce3 in 2024 for the Total Newmont portfolio
• Sustaining capital spend of approximately $1.8 billion for the Total Newmont portfolio
• Development capital spend of approximately $1.3 billion in 2024 for the Total Newmont portfolio
• Progressing key near-term development projects of Tanami Expansion 2, Ahafo North, Cadia Block Caves and Cerro Negro Expansion 1
• Updated Tanami Expansion 2 development capital estimate of $1.7 to $1.8 billion with commercial production expected in the second half of 2027
• Remain on track to deliver an expected $500 million in synergies related to the Newcrest transaction by the end of 20257

FOURTH QUARTER 2023 KEY RESULTS DRIVERS

In the fourth quarter, Newmont delivered a sequential improvement in production compared with the third quarter, primarily driven by the inclusion of the sites acquired in the Newcrest transaction combined with higher production at all Newmont managed operations except for Boddington, Yanacocha and CC&V due to planned mine sequencing. In addition, Newmont's non-managed operations at Nevada Gold Mines and Pueblo Viejo delivered higher production during the quarter. Notably, Penasquito safely ramped up operations after a resolution of the labor strike was reached with the National Union of Mine and Metal Workers of the Mexican Republic ("the Union") on October 13, 2023.

Excluding the impact from the acquisition of Newcrest, direct operating costs were largely consistent with the third quarter as inflationary pressures have continued to stabilize, with improvements to commodity input pricing, partially offset by higher third party royalties due to higher gold prices. AISC was higher due to increased sustaining capital during the fourth quarter compared with the third quarter.

Cash Flow from Continuing Operations and Free Cash Flow were both lower than the third quarter at $616 million and $(304) million, respectively. This was primarily driven by unfavorable working capital changes of $297 million compared with the third quarter, including an unfavorable build of accounts receivable and the timing of accounts payable, as well as higher current cash tax and timing of debt interest payments. In addition, Newmont invested $920 million in capital spend during the fourth quarter, including $377 million in development capital spend to continue to progress near-term projects and $543 million in sustaining capital to progress site improvement projects.

Newmont reported a GAAP Net Loss from Continuing Operations of $(3.2) billion. Adjusted Net Income increased to $486 million or $0.50 per share, primarily driven by higher sales volumes and higher realized gold prices compared with the third quarter. Adjusted Net Income excludes significant non-cash accounting charges, primarily related to impairment charges of $1.9 billion recorded at year end in conjunction with the company's annual impairment review and reclamation charges of $1.2 billion. In addition, Newmont incurred $427 million of costs related to the acquisition and integration of Newcrest.

• $1.9 billion of impairment charges primarily due to the write-down of goodwill of $1.2 billion at Penasquito, $293 million at Musselwhite and $246 million at Eleonore
• • The goodwill impairment at Penasquito was driven by an update to the geological model that impacted expected metal grade and recoveries, resulting in lower underlying cash flows
  • The goodwill impairments at Musselwhite and Eleonore were driven by a deterioration in underlying cash flows as a result of higher costs due to inflationary pressures
  • The long-lived assets at all three sites were evaluated for impairment and no impairment was identified
  • The site-specific goodwill amounts originated from the Goldcorp purchase price allocation in 2019, which was based on best estimates of each site's value and country-risk assumptions at that time
• $1.2 billion reclamation adjustment charges primarily at Yanacocha due to increased estimated water management costs
• $427 million of Newcrest transaction and integration costs; primarily due to the accrual of $316 million in stamp duty tax incurred in connection with the transaction

Newmont intends to file its 2023 Form 10-K on or about the close of business on February 27, 2024.

FOURTH QUARTER 2023 FINANCIAL AND PRODUCTION SUMMARY

Attributable gold production1 for the fourth quarter increased 7 per centto 1,741 thousand ounces compared with the prior year quarter, primarily due to the addition of the Newcrest operations in November 2023. This favorable impact was partially offset by lower production at Penasquito, Boddington and Akyem. Gold sales were slightly higher than production for the quarter primarily due to the timing of shipments at Cadia and Telfer.

Gold CAS totaled $1.9 billion for the quarter. Gold CAS per ounce2 increased 16 per centto $1,086 per ounce compared with the prior year quarter, primarily due to higher direct operating costs incurred at the Newcrest sites after the acquisition, including at Brucejack and Telfer as operations at both sites were temporarily suspended for a portion of December, as well as higher costs incurred at Nevada Gold Mines due to leach pad write-downs and at Merian and Cerro Negro due to increased inflationary pressures on labor and consumables costs. These increases were partially offset by lower costs incurred at Penasquito as the site ramped up to full productivity in the fourth quarter of 2023 after the resolution of the labor strike in October 2023.

Gold AISC per ounce2 increased 22 per centto $1,485 per ounce compared with the prior year quarter, primarily due to higher CAS per ounce and higher sustaining capital spend.

Attributable GEO production from other metals for the quarter remained largely flat at 289 thousand ounces from the prior year quarter, primarily due to the addition of copper production from Cadia, Red Chris and Telfer, partially offset by the ramp-up of production at Penasquito after the resolution of the labor strike. Other metal GEO sales were slightly higher than production for the quarter, primarily due to the timing of shipments at Cadia and Telfer.

CAS from other metals totaled $403 million for the quarter. CAS per GEO2 increased 46 per centto $1,254 per ounce from the prior year quarter, primarily due to a higher allocation of costs to co-product metals with the addition of co-product production at Cadia, Red Chris and Telfer.

AISC per GEO2 for the quarter increased 46 per centto $1,697 per ounce from the prior year quarter, primarily due to higher CAS from other metals, higher sustaining capital spend and higher treatment and refining costs.

Average realized gold price for the quarter increased $246 per ounce to $2,004 per ounce compared with the prior year quarter, including $2,003 per ounce of gross price received, the favorable impact of $13 per ounce mark-to-market on provisionally-priced sales and $12 per ounce reductions for treatment and refining charges.

Revenue for the quarter increased 24 per centto $4.0 billion compared with the prior year quarter, primarily due to higher sales volumes and higher realized gold prices.

Net loss from continuing operations attributable to Newmont stockholders for the quarter was $(3.2) billion or $(3.22) per diluted share, a decrease of $1.7 billion from the prior year quarter, primarily due to higher impairment charges recognized primarily related to the write-off of goodwill at Penasquito, Musselwhite and Eleonore, as well as higher reclamation and remediation expense resulting from adjustments mainly related to non-operating Yanacocha sites.

Adjusted net income3 for the quarter was $486 million or $0.50 per diluted share compared with $348 million or $0.44 per diluted share in the prior year quarter. Primary adjustments to fourth quarter net income include reclamation and remediation adjustments of $1.2 billion, total impairment charges of $1.9 billion, and Newcrest transaction and integration costs of $427 million.

Adjusted EBITDA3 for the quarter increased 19 per centto $1.4 billion for the quarter compared with $1.2 billion for the prior year quarter.

Capital expenditures4 increased 42 per centto $920 million for the quarter compared with prior year quarter, primarily due to higher sustaining capital spend as well as slightly higher development capital spend.

Consolidated operating cash flow from continuing operations decreased 39 per centto $616 million for the quarter compared with the prior year quarter, primarily due to the impact of the Penasquito strike, which was partially offset by higher average realized gold prices.

Free Cash Flow5 decreased to $(304) million for the quarter compared with the prior year quarter, primarily due to lower operating cash flow and higher capital expenditures.

Nevada Gold Mines (NGM)6 attributable gold production for the quarter was 322 thousand ounces, with CAS of $1,125 per ounce2 and AISC of $1,482 per ounce2.

Pueblo Viejo (PV)7 attributable gold production was 61 thousand ounces for the quarter. Cash distributions received from the company's equity method investment in Pueblo Viejo were $8 million for the fourth quarter. Capital contributions of $16 million for the quarter were made related to the expansion project at Pueblo Viejo.

Fruta del Norte8 attributable gold production is reported on a quarterly lag and will not be reported until the first quarter of 2024. Cash distributions received from the company's equity method investment in Fruta del Norte were $6 million for the fourth quarter.

FULL YEAR 2023 FINANCIAL AND PRODUCTION SUMMARY

Attributable gold production1 for the year decreased 7 per centto 5,545 thousand ounces compared with the prior year, primarily due to lower production at Penasquito, Akyem, Merian and Boddington. In addition, the non-managed joint venture at Pueblo Viejo delivered lower production than in the prior year. These unfavorable impacts were partially offset by the addition of the Newcrest operations in November 2023. Gold sales were largely in line with production for the year.

Gold CAS totaled $5.7 billion for the year. Gold CAS per ounce2 increased 13 per centto $1,050 per ounce compared with the prior year, primarily due to lower gold sales volumes, higher maintenance costs and higher materials, labor and contract services costs. These increases were partially offset by lower costs incurred at Penasquito during the labor strike and lower profit-sharing in 2023 due to lower taxable income at the site.

Gold AISC per ounce2 increased 19 per centto $1,444 per ounce compared with the prior year, primarily due to higher CAS per ounce and higher sustaining capital spend.

Attributable GEO production from other metals for the year decreased 30 per centto 891 thousand ounces compared with the prior year, primarily due to the Penasquito labor strike in 2023, partially offset by the addition of copper production from Cadia, Red Chris and Telfer. Other metal GEO sales were largely in line with production for the year.

CAS from other metals totaled $1.0 billion for the year. CAS per GEO2 increased 38 per centto $1,127 per ounce from the prior year, primarily due to lower sales volumes as a result of the Penasquito labor strike in 2023.

AISC per GEO2 for the year increased 42 per centto $1,577 per ounce from the prior year, primarily due to lower sales volumes as a result of the Penasquito labor strike in 2023 and higher sustaining capital spend.

Average realized gold price for the year increased $162 per ounce to $1,954 per ounce compared with the prior year, including $1,957 per ounce of gross price received, the favorable impact of $6 per ounce mark-to-market on provisionally-priced sales and $9 per ounce reductions for treatment and refining charges.

Revenue for the year remained largely flat at $11.8 billion compared with $11.9 billion for the prior year.

Net loss from continuing operations attributable to Newmont stockholders for the year was $(2.5) billion or $(2.97) per diluted share, a decrease of $2.0 billion from the prior year primarily due to higher impairment charges, higher reclamation and remediation expense resulting from adjustments, primarily related to non-operating Yanacocha sites, the impact of the Penasquito labor strike, and the Newcrest transaction and integration costs, including the accrual of a stamp duty tax of $316 million. These decreases were partially offset by higher average realized prices for gold, silver and copper.

Adjusted net income3 for the year was $1.4 billion or $1.61 per diluted share compared with $1.5 billion or $1.85 per diluted share in the prior year. Primary adjustments to 2023 net income include total impairment charges of $1.9 billion, reclamation and remediation adjustments of $1.3 billion, and Newcrest transaction and integration costs of $464 million.

Adjusted EBITDA3 for the year decreased 7 per centto $4.2 billion, compared with $4.6 billion for the prior year.

Capital expenditures4 increased 25 per centto $2.7 billion for the full year compared with prior year, primarily due to higher sustaining capital spend as well as slightly higher development capital spend. Development capital expenditures in 2023 primarily related to Tanami Expansion 2, Yanacocha Sulfides, Ahafo North, Cerro Negro District Expansion 1, Pamour, Cadia Block Caves, and the TS Solar Plant and Goldrush Complex at Nevada Gold Mines.

Consolidated operating cash flow from continuing operations decreased 14 per centto $2.8 billion for the full year compared with the prior year, primarily due to the impact of the Penasquito strike and lower sales volumes at Akyem. These impacts were partially offset by income provided by the newly acquired sites and higher average realized gold, silver and copper prices.

Free Cash Flow5 decreased to $88 million for the full year compared with $1.1 billion for the prior year, primarily due to lower operating cash flow and higher capital expenditures.

Balance sheet and liquidity remained strong in 2023, ending the year with $3.0 billion of consolidated cash, with approximately $6.1 billion of total liquidity; reported net debt to adjusted EBITDA of 1.1x9.

Nevada Gold Mines (NGM)7 attributable gold production for the year was 1,170 thousand ounces, with CAS of $1,070 per ounce2 and AISC of $1,397 per ounce2.

Pueblo Viejo (PV)8 attributable gold production was 224 thousand ounces for the year. Cash distributions received from the company's equity method investment in Pueblo Viejo were $106 million for the year. Capital contributions of $97 million for the year were made related to the expansion project at Pueblo Viejo.

Disciplined Reinvestment into Key Near-Term Projects

Newmont's project pipeline supports stable production with improving margins and mine life1. Newmont's 2024 outlook includes current development capital costs and production related to Tanami Expansion 2, Ahafo North, Cadia Block Caves and Cerro Negro District Expansion 1.

• Ahafo North (Ghana) expands our existing footprint in Ghana with four open pit mines and a stand-alone mill located approximately 30 kilometers from the company's Ahafo South operations. The project is expected to add between 275,000 and 325,000 ounces per year with all-in sustaining costs of $800 to $900 per ounce for the first five full years of production (2026 - 2030). Ahafo North is the best unmined gold deposit in West Africa with approximately 4.1 million ounces of Reserves and 1.3 million ounces of Measured, Indicated and Inferred Resources2 and significant upside potential to extend beyond Ahafo North's current 13-year mine life. Commercial production for the project is expected in the second half of 2025. Total capital costs are estimated to be between $950 and $1,050 million. Development costs (excluding capitalized interest) since approval were $375 million, of which $163 million related to 2023.
• Cadia Block Caves (Australia) includes two existing panel caves to recover approximately 5.9 million ounces of Gold Reserves as well as 1.3 million tonnes of Copper Reserves. First ore has been delivered from the first panel cave (PC2-3), and development is underway at the second panel cave (PC1-2). The newly-acquired project is currently under review, and a more fulsome update on the anticipated metrics is expected to be provided in the second half of 2024. Development capital costs (excluding capitalized interest) since approval were $36 million, of which all related to 2023.
• Cerro Negro District Expansion 1 (Argentina) includes the simultaneous development of the Marianas and Eastern districts to extend the mine life of Cerro Negro beyond 2030. The project is expected to improve production and provides a platform for further exploration and future growth through additional expansions. Development capital costs for the project are estimated to be between $350 and $450 million. In the third quarter of 2023, Newmont declared commercial production for San Marcos, the first of six ore bodies associated with the expansion project.
• Tanami Expansion 2 (Australia) secures Tanami's future as a long-life, low-cost producer by extending mine life beyond 2040 through the addition of a 1,460 meter hoisting shaft and supporting infrastructure to process 3.3 million tonnes per year and provide a platform for future growth. The expansion is expected to increase average annual gold production by approximately 150,000 to 200,000 ounces per year for the first five years and reduce operating costs by approximately 30 percent, bringing average all-in sustaining costs to $900 to $1,000 per ounce for Tanami (2028 - 2032). As a result of the identification of required overbreak and underbreak remediation, commercial production for the project is now expected in the second half of 2027. Total capital costs are now estimated to be between $1.7 and $1.8 billion, incorporating the required remediation work. Development costs (excluding capitalized interest) since approval were $752 million, of which $253 million related to 2023.

2024 Outlook Underpinned by Optimized Tier 1 Portfolio

Based on a comprehensive review undertaken following the Newcrest acquisition, Newmont's Board of Directors and senior leadership team have identified the Tier 1 Portfolio which is expected to generate the most value over the long-term. Newmont's go-forward portfolio is focused on Tier 1 assets, consisting of (1) six managed Tier 1 assets (Boddington, Tanami, Cadia, Lihir, Penasquito and Ahafo), (2) assets owned through two non-managed joint ventures at Nevada Gold Mines and Pueblo Viejo, including four Tier 1 assets (Carlin, Cortez, Turquoise Ridge and Pueblo Viejo), (3) three emerging Tier 1 assets (Merian, Cerro Negro and Yanacocha), which do not currently meet the criteria for Tier 1 Asset, and (4) an emerging Tier 1 district in the Golden Triangle in British Columbia (Red Chris and Brucejack), which does not currently meet the criteria for Tier 1 Asset. Newmont's Tier 1 portfolio also includes attributable production from the company's equity interest in Lundin Gold (Fruta del Norte). Tier 1 Portfolio cost and capital metrics include the proportional share of the company's interest in the Nevada Gold Mines Joint Venture. As part of Newmont's portfolio optimization, the company is seeking to divest six non-core assets: Akyem, CC&V, Eleonore, Porcupine, Musselwhite, and Telfer. In addition, Newmont expects to divest the Coffee project in Canada and the Havieron project in Australia.

Newmont's 2024 outlook is supported by steady production from Newmont's managed Tier 1 and Emerging Tier 1 assets, and is further enhanced by the company's ownership in the Nevada Gold Mines and Pueblo Viejo joint ventures. These assets form the core of Newmont's 2024 attributable production outlook for the Tier 1 Portfolio of approximately 5.6 million ounces. Total Newmont gold production is expected to be 6.9 million ounces, incorporating the incremental 1.3 million ounces from the six non-core assets.

Costs in 2024 are expected to remain in line with 2023, with CAS of approximately of $1,000 per ounce for the Tier 1 Portfolio. AISC for the Tier 1 Portfolio is expected to be approximately $1,300 per ounce in 2024, incorporating higher sustaining capital spend compared with the prior year.

2024 GOLD PRODUCTION SEASONALITY OUTLOOK

Gold production for 2024 is expected to be approximately 47% weighted to the first half of the year. The increase in production in the second half of the year is expected to be driven by Ahafo and Tanami as well as the non-managed Nevada Gold Mines and Pueblo Viejo operations.

In 2024, the addition of Cadia and Red Chris from the acquisition of Newcrest is expected to increase Newmont's Tier 1 Portfolio copper production. This will be partially offset by lower copper production expected from Boddington as the site progresses laybacks in 2024. In addition, Penasquito is expected to deliver higher co-product production due to higher silver, lead and zinc content from the Chile Colorado pit.

Sustaining capital is expected to be approximately $1.5 billion in 2024 for the Tier 1 Portfolio, covering key tailings management, water and infrastructure projects, equipment and ongoing mine development. Total Newmont sustaining capital is expected to be approximately $1.8 billion in 2024, incorporating incremental spend at the six non-core assets.

Development capital is expected to be approximately $1.2 billion in 2024 for the Tier 1 Portfolio, as the company focuses on disciplined reinvestment in its most profitable near-term projects. 2024 outlook primarily includes spend for Tanami Expansion 2 in Australia, Ahafo North in Ghana, Cadia Block Caves in Australia and Cerro Negro District Expansion 1 in Argentina. In addition, development capital outlook includes spend related to the company's ownership interest in Nevada Gold Mines including Goldrush. Total Newmont development capital is expected to be approximately $1.3 billion in 2024, incorporating incremental spend for the Pamour project at Porcupine.

Development capital estimates exclude contributions to support Newmont's 40% interest in the Pueblo Viejo expansion, which is accounted for as an equity method investment.

In 2024, investment in exploration and advanced projects is expected to decrease to approximately $450 million as Newmont focuses primarily on extending mine life at existing operations and continuing to build reserves. Newmont expects to invest approximately $300 million dollars in exploration expense to progress organic growth around existing operations and brownfields and greenfields exploration projects, including Apensu and Subika Underground (Ahafo South), East Ridge (Red Chris) and Oberon (Tanami). In addition, Newmont expects to invest approximately $150 million in advanced projects spend associated with advancing studies on its robust pipeline of projects, including Galore Creek.

The 2024 outlook for general and administrative costs is expected to increase slightly to $300 million as Newmont continues integration work after the Newcrest transaction. Interest expense is expected to increase to approximately $365 million due to the debt assumed from the Newcrest transaction. Depreciation and amortization is expected to increase to approximately $2.9 billion for the combined portfolio. The adjusted tax rate is expected to remain stable at approximately 34 per centusing a $1,900 per ounce gold price assumption.

Assuming a 34 per centincremental tax rate, a $100 per ounce increase in gold price would deliver an expected $675 million improvement in revenue. Included within the sensitivity is a royalty and production tax impact of $5 per ounce for every $100 per ounce change in gold price.

2024 Production and Cost Outlook by Site

Managed Tier 1 Portfolio

Boddington

Gold production at Boddington is expected to decrease in 2024 due to lower grade ore as the site progresses the current laybacks in the North and South pits, positioning the site to increase production in 2026 and beyond. Copper production will also be impacted in 2024 due to lower grade as a result of the increased stripping.

Gold and copper unit costs at Boddington are expected to increase in 2024 due to lower production volumes.

Tanami

Tanami production is expected to decrease in 2024 due to lower grade from deeper in the underground mine as the site continues to progress the Tanami Expansion 2 project.

Tanami unit costs are expected to be impacted by lower production volumes and higher direct costs. In addition, AISC is expected to increase due to higher sustaining capital spend.

Cadia

Cadia was acquired on November 6, 2023 through the Newcrest transaction. In 2024, the site is focused on integration, safe operations and Full Potential initiatives to deliver synergies. Underground development continues on the next block caves in the mine plan, along with a tailings expansion to set up the next decade of ore feed.

Lihir

Lihir was acquired on November 6, 2023 through the Newcrest transaction. In 2024, the site is well-positioned to deliver Full Potential synergies and progress waste stripping to access high-grade material from the Kapit orebody.

Ahafo

Ahafo production is expected to increase in 2024 due to higher open pit grade and strong underground mining rates at Subika. The site remains on track to reach full processing rates by the end of the second quarter of 2024 after the planned delivery of the replacement girth gear.

Ahafo unit costs are expected to improve in 2024 due to higher production volumes.

Penasquito

Gold production at Penasquito is expected to increase in 2024, as operations have fully ramped up following the successful resolution of the strike in October 2023. This increase is partially offset by a change in mine plan as the site continues to progress stripping in the Penasco pit throughout 2024.

Co-product production at Penasquito is expected to increase in 2024 due to higher silver, lead and zinc content delivered from the Chile Colorado pit as part of the planned sequence at this polymetallic mine.

Unit costs at Penasquito are expected to improve due to higher production volumes for all metals from a full year of operations.

Cerro Negro

Cerro Negro production is expected to increase in 2024 due to higher grade ore and throughput as the site benefits from the continued Cerro Negro Expansion project.

Cerro Negro unit costs are expected to improve due to higher production volumes and lower direct costs. In addition, AISC is expected to benefit from lower sustaining capital spend.

Yanacocha

Yanacocha continues to deliver leach-only production, with increased production expected in 2024 due to higher leach recoveries from the use of injection leaching.

Yanacocha unit costs are expected to be higher in 2024 due to higher direct costs and unfavorable inventory changes, with AISC also expected to be impacted by higher advanced projects spend.

Merian

Merian is expected to deliver lower production in 2024 due to lower mill head grade and throughput.

Merian unit costs are expected to be impacted by lower production volumes due to planned mine sequencing.

Brucejack

Brucejack was acquired on November 6, 2023 through the Newcrest transaction. Following a tragic fatality on December 20, 2023, Newmont suspended mining operations at the site to conduct a full investigation into the incident. The site ramped up to full operations by the end of January 2024. In 2024, the site is focused on the integration and implementation of Newmont's Fatality Risk Management program which are designed to ensure safe operations, as well as Newmont's Full Potential program to deliver synergies.

Red Chris

Red Chris was acquired on November 6, 2023 through the Newcrest transaction. In 2024, the site is focused on safe and efficient gold and copper production and embedding Full Potential initiatives to optimize the current operation.

Non-Managed Tier 1 Portfolio

Nevada Gold Mines (NGM)

Production, CAS and AISC for the company's 38.5 per centownership interest in NGM as provided by Barrick Gold Corporation.

Pueblo Viejo

Attributable production reflects Newmont's 40 per centinterest in Pueblo Viejo, which is accounted for as an equity method investment.

Fruta Del Norte

Attributable production reflects Newmont's 32 per centinterest in Lundin Gold, who wholly owns and operates the Fruta del Norte mine, which is accounted for on a quarterly-lag as an equity method investment. As a result, results of operations will be not be reported until the first quarter of 2024.

Conference Call Information

A conference call will be held on Thursday, February 22, 2024 at 10:00 a.m. Eastern Time (ET) and 4:00 p.m. ET; it will also be available on the company's website

10:00 a.m. ET Conference Call Details

Dial-In Number:   833.470.1428

Intl Dial-In Number:  404.975.4839

Dial-In Access Code:  960159

Conference Name:  Newmont

Replay Number:  866.813.9403

Intl Replay Number:  929.458.6194

Replay Access Code:  672728

4:00 p.m. ET Conference Call Details

Dial-In Number:   833.470.1428

Intl Dial-In Number:   404.975.4839

Dial-In Access Code:   431401

Conference Name:  Newmont

Replay Number:   866.813.9403

Intl Replay Number:   929.458.6194

Replay Access Code:   615787

About Newmont

Newmont is the world's leading gold company and a producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. 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. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.

We seek Safe Harbor.