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Quarterly Report For the three months ended 30 September 2021 ( figures are unaudited and in US $ except where stated ) Q1 in line with expectations as organic growth agenda advanced September quarter in line with expectations and on track to meet annual guidance ¹ , 2 o Gold production of 396koz³ and copper production of 25kt o All - In Sustaining Cost ( AISC ) of $ 1,270 / oz³ o AISC margin of $ 406 / oz4 Gold and copper production expected to increase in the December quarter² ● NEWCREST MINING LIMITED • Advancing Newcrest's global organic growth portfolio o Newcrest recently released the findings of the Red Chris Block Cave , Havieron Stage 1 , Lihir Phase 14A and Cadia PC1-2 Pre - Feasibility Studies ( PFS ) 5 : All four organic growth options estimated to deliver an IRR of 16 % or higher6,7 Projected 50 % reduction in Newcrest's AISC per ounce by FY306,7 Projected gold production of approximately 2Moz per annum until at least FY306,7 Projected material growth ( + 37 % ) in copper production by FY30 , sourced exclusively from Tier 1 jurisdictions 6,7 Lihir projected to become a 1Mozpa + gold producer for at least 10 years from FY246,8 Projected multi - decade asset lives at Cadia , Lihir and Red Chris Newcrest intends to fund all four projects through operating cash flow and existing liquidity o Exploration decline development advancing well at Red Chris and Havieron o West Dome Stage 5 cutback underway , supporting the continuity of operations at Telfer² o Commissioning of the Moly Plant at Cadia ongoing , with first production expected in November 2021² Newcrest Managing Director and Chief Executive Officer , Sandeep Biswas , said , " Newcrest's production in the September quarter was in line with our expectations and reflects the replacement and upgrade of the SAG mill motor at Cadia , the completion of the re - bricking of Autoclave 4 at Lihir and other planned maintenance shutdowns across the Group which is consistent with prior years . We expect gold and copper production to increase in the December quarter with lower planned shutdown activities and completion of the SAG mill motor replacement and we remain on track to meet our FY22 guidance . " " We were very pleased to take a significant step forward in advancing our organic growth agenda in October . The findings of the Red Chris Block Cave , Havieron Stage 1 , Lihir Phase 14A and Cadia PC1-2 Pre - Feasibility Studies demonstrate the depth and quality of our global organic growth portfolio and create an exciting pathway for our future . Newcrest expects to achieve very attractive rates of return on each project , with strong growth in copper production and a reduction of more than 50 % in our already low All - In Sustaining Cost expected over the next decade . These Studies outlined our base case projections and have the potential for further upside to deliver strong gold and copper production for decades to come . " " This is a genuinely exciting time for Newcrest and highlights our commitment to deliver superior returns to our shareholders . We look forward to providing further updates as we progress these compelling opportunities . ” said Mr Biswas . Newcrest Mining Limited - Level 8 , 600 St Kilda Road , Melbourne - Quarterly Report to 30 September 2021 1