Slides
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OCTOBER 22, 2026 Third Quarter 2026 Results
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2NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Cautionary Statement Regarding Forward Looking Statements, Including Guidance Assumptions, and Notes This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements often address our expected future business and financial performance and financial condition; and often contain words such as “anticipate,” “intend,” “plan,” “will,” “would,” “estimate,” “expect,” “believe,” "pending" or “potential.” Forward-looking statements in this presentation may include, without limitation, (i) estimates of future production and sales, including production outlook, and average future production; (ii) estimates of future costs applicable to sales and all-in sustaining costs; (iii) estimates of future capital expenditures, including development and sustaining capital; (iv) expectations regarding project development, including, without limitation, Red Chris Block Cave, Tanami Expansion 2, Cadia Panel Caves, Nearshore Barrier at Lihir, or the Cerro Negro Expansion project, including with respect to timeline, mine life, production, and capital costs; (v) expectations regarding share and debt repurchases; (vi) estimates of future cost reductions, savings and efficiencies, productivity improvements, and future cash flow enhancements, (vii) expectations regarding Newmont’s core portfolio; (viii) expectations regarding future investments; (ix) expectations regarding free cash flow, capital allocation framework, and returns to stockholders, including with respect to future dividends and future share repurchases; and (x) other outlook, including, without limitation, 2026 Guidance and other future operating, reclamation, remediation, and financial metrics. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of operations and projects being consistent with current expectations and mine plans, including, without limitation, receipt of export approvals; (iii) political developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) certain exchange rate assumptions for the Australian dollar to U.S. dollar and Canadian dollar to U.S. dollar, as well as other exchange rates being approximately consistent with current levels; (v) certain price assumptions for gold, copper, silver, zinc, lead and oil; (vi) prices for key supplies; (vii) the accuracy of current mineral reserve, mineral resource and mineralized material estimates; and (viii) other planning assumptions. Uncertainties include those relating to general macroeconomic uncertainty and changing market conditions, changing restrictions on the mining industry in the jurisdictions in which we operate, impacts to supply chain, including price, availability of goods, ability to receive supplies and fuel, and impacts of changes in interest rates. Such uncertainties could result in operating sites being placed into care and maintenance and impact estimates, costs and timing of projects. Uncertainties in geopolitical conditions could impact certain planning assumptions, including, but not limited to commodity and currency prices, costs and supply chain availabilities. The capital allocation framework outlined herein represents the Company’s current intentions and targets. It is forward-looking, non-binding, and subject to change based on market conditions, financial performance, and business needs. Actual results and future capital allocation may differ materially from these targets. Investors are reminded that the indicated or annual dividend target is non-binding. Future dividends, beyond the dividend payable on December 21, 2026, to holders of record at the close of business on November 25, 2026, have not yet been approved or declared by the Board of Directors, and an annualized dividend payout or dividend yield has not been declared by the Board. The declaration and payment of future dividends remain at the discretion of the Board of Directors and will be determined based on Newmont’s financial results, balance sheet strength, cash and liquidity requirements, future prospects, gold and commodity prices, and other factors deemed relevant by the Board. The extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including trading volume, market conditions, legal requirements, business conditions and other factors. The repurchase program may be discontinued at any time, and the program does not obligate the Company to acquire any specific number of shares of its common stock or to repurchase the full authorized program amount during the authorization period. For a more detailed discussion of risks, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (“SEC”) on, February 19, 2026, as well as Newmont’s other SEC filings including the Company’s recent Form 10-Q, available on the SEC website or www.newmont.com. Newmont does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this presentation, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors’ own risk. Investors are also reminded to refer to the endnotes to this presentation for additional information.
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3NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Reduced shares outstanding by over 115M or ~10% since February 2024, driving ongoing per-share growth Red Chris Block Cave4 feasibility study nearing completion as project advances towards FID (1) Represents attributable production for the total portfolio, including production from the Company’s equity method investments in Pueblo Viejo and Lundin Gold. (2) Free cash flow and Adjusted Net Income are non-GAAP metrics; see reconciliations on slides 19 & 20 and endnotes. (3) Shareholder returns includes total share repurchases and dividends paid since July 23, 2026. (4) Project remains subject to ongoing evaluation; final investment decision and approval have not been made by Newmont as of this time, see endnotes. Announced amended JV agreement for NGM to include contribution of Fourmile, Fiberline & Mike Successfully completed September planned shut down at Lihir on time with no SPEs or recordable injuries Returns to Shareholders3 $1.9B Through quarterly common dividends and ongoing share repurchases Free Cash Flow2 $1.9B Generating robust free cash flow from world-class portfolio Gold Production1 1.3Moz 23kt of copper and 11Moz of silver from full portfolio Adjusted Net Income2 $2.20/share Record third-quarter adjusted EPS Q3 2026 Highlights On track to meet full year 2026 guidance
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4NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Third Quarter Project Updates 4 Tanami Expansion 2 Cadia Panel Caves 1.5km deep production shaft, increasing productivity and improving efficiency Two caves to recover over 5.0Moz of gold reserves and 1.0Mtonnes copper reserves ▪ Completed shaft construction and remain on track for mechanical completion by year-end 2026 ▪ Commissioning expected to commence in early 2027 with commercial production expected by the end of Q2 2027 ▪ PC2-3 remains on track for completion by year-end 2026, with the final drawbell fired in September and activities transitioning to operations ▪ PC1-2 underground development activities continue to advance on schedule 2026 Capital Spend ~$370M Spent to date: ~$1.7B Projected total spend: ~$2.0-$2.4B 2026 Capital Spend ~$335M Spent to date: ~$1.5B Projected total spend: $1.7–$1.8B Scheduled Completion H1 2027 Completion date moved up from H2 to H1 of 2027 Scheduled Completion 2029 PC2-3: Q4 2026 PC1-2: Cave completion in 2029 Lihir Nearshore Barrier ▪ Extends mine life beyond 2040, enabling production of over 5.0Moz of gold ▪ Advancing engineering, procurement, and early execution activities with the project remaining on track for completion in 2028 Yanacocha Water Treatment Plants ▪ East and West plants nearing mechanical completion and remain on track for project completion in 2027 ▪ Reclamation spend expected to reduce sequentially by ~$200M per annum through 2028 Projects in execution advancing as planned across portfolio (1) Represents total estimated capital spend for 2026. Demonstrates the capability and execution discipline to deliver complex, large-scale projects safely and on schedule
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5NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Red Chris Block Cave Endowment with 70-Year Mine Life Potential (1) On a 100% basis. Represents estimated future production from our initial 13-year mine life. Not indicative of reserve and resource estimates. (2) Future growth opportunities remain subject to exploration, technical and economic studies, permitting and investment approval. Development scope and sequencing remain under evaluation. See cautionary statement and endnotes Fully permitted brownfield extension in premier mining jurisdiction Initial Phase1 3.0Moz Gold 850Kt Copper Macro Block 1 and 2 total production estimates supported by low-cost structure over initial 13-year mine life Subsequent Phase Growth study underway Macro Block 3 and East Ridge² Growth study underway with anticipated resource declaration in 2027 Future Phase Long-term growth potential Additional mineralized zones offer future development potential, subject to further exploration and studies² District Potential Exploration Upside Identified deposits beyond the corridor provide longer-term opportunities² Exploration remains at an early stage Multi-Generational Mining in this Porphyry Corridor
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6NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Expected to deliver double-digit IRR2, in line with Newmont’s investment evaluation criteria 13 years Initial mine life with upside up to 70 years $4.2-4.8B Development Capital3 (C$5.6-6.4B) 2027 Construction Commencement Positioned to be one of Newmont’s lowest cost operations over life of mine 275-325Koz Average Gold Production (2035–2040) 65-85Kt Average Copper Production (2035–2040) 2033 Commercial Production Red Chris Block Cave Initial Phase ▪ Finalizing feasibility study1, full funds decision expected in early 2027 ▪ Technically and commercially robust development plan with mature engineering, providing confidence in capital, schedule and delivery ▪ Strong support from all levels of Canadian government and full prior and informed consent from the Tahltan Nation ▪ Subsequent phased development to unearth an endowment with 70 year mine life potential ▪ ~40% of initial planned investment creates platform to support future expansion A rare combination of gold-copper scale, quality & growth potential in Golden Triangle (1) Subject to review and governance oversight. (2) Evaluated across a range of economic scenarios, including gold at $3,600/oz and copper at $5.00/lb. (3) Development capital: Estimates are in real terms, include contingency and are net of C$500 million in anticipated Canadian government support. Estimates exclude costs to transition from open pit to block cave operations. U.S. dollar amounts converted to Canadian dollars at US$0.75 = C$1.00. See cautionary statement regarding forward-looking statements and endnotes. Key Project Metrics Presented on a 100% Basis Golden Triangle District Tahltan Territory Nisga’a Territory
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7NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Operational excellence continues to drive strong financial results Third Quarter Financial Performance 7 ADJUSTED EBITDA $4.0B GAAP NET INCOME $2.35/sh. ADJUSTED NET INCOME $2.20 /sh. AVERAGE REALIZED GOLD PRICE $4,317/oz CASH FROM OPERATIONS $2.8B FREE CASH FLOW $1.9B CASH & CASH EQUIVALENTS $8.8B GOLD ALL-IN SUSTAINING COST1 $1,454/oz Well-positioned to continue delivering robust free cash flow See Non-GAAP reconciliation and endnotes later in this presentation for reconciliation of Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, and All-In Sustaining Costs. (1) On a by-product basis
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8NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Delivering on Consistent Capital Allocation Framework1 Sustaining Capital2 $525M On track to meet full year guidance with spend expected to be highest in Q4 Total Cash Dividend $272M Development2 Capital $354M Net Cash/ Net Debt $3.2B Share Repurchases $1.6B Repurchased since July 23, 2026 Disciplined, sustainable returns through the commodity and investment cycles (1) See endnotes re: forward-looking statements, non-GAAP metrics, dividends, share repurchases and capital allocation framework. (2) Capital expenditures are shown on an attributable basis, exclusive of capitalized interest and related depreciation and amortization, and therefore will not directly agree to Additions to property plant and mine development from the Condensed Consolidated Statements of Cash Flows. (3) A dividend of $0.26/share has been declared payable on December 21, 2026, to holders of record of such common stock at the close of business on November 25, 2026. Future dividend remain subject to approval and declaration by the Board. (4) Excess Cash is defined as cash available from operations (including Exploration, G&A, etc.) after funding balance sheet obligations (including debt principal repayments and reclamation spend) and capital expenditures, paying the dividend, and achieving the net cash target. Constant through the cycleFlex through the cycleExcess Cash4 $1.95B Expected 2026 Spend (+/- 5%) $1.1B Targeted Annual Payment $1.4B Expected 2026 Spend (+/- 5%) $1.0B Net Cash Target (+/- $2.0B) $2.8B Remaining Authorization Q3 2026 TARGETS Steady investment in organic projects in execution, with highest spend expected in Q4 $3.2B executed to date from $6.0B program authorized in April 2026 Includes $451M of shares repurchased in October 2026 Maintaining financial flexibility with net cash currently at the upper end of target range Quarterly dividend currently $0.26/share, subject to approval by Board of Directors3
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9NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Attributable Gold Production2 On Track to Achieve 2026 Guidance1 Gold CAS3 By-Product Gold AISC3 By-Product Sustaining Capital4 Development Capital4 5.3Moz $1.95B $925/oz $1,520/oz $1.40B Full Year 2026 Guidance Q4 2026 Guidance Performance Drivers Strong portfolio execution and improving second-half performance support delivery of full-year production guidance (+/- 5%) Improved 2026 guidance reflects cost discipline and higher co- product credits; fourth quarter AISC driven by lower silver production and impacts from increased oil prices Primarily driven by the timing of spend at Cadia, Tanami, Boddington, Peñasquito, and Ahafo North Continue to progress projects in execution primarily at Cadia, Tanami, Lihir, and Cerro Negro, as well as advancing the feasibility study at Red Chris (1) See endnotes re: forward-looking statements, and Non-GAAP metrics. (2) Includes production from the Company’s equity method investments in Pueblo Viejo and Lundin Gold. (3) Guidance for 2026 is based on the following economic assumptions: Gold ($4,500/oz.), Copper ($5.00/lb.), Silver ($60.00/oz), Lead ($0.90/lb.) and Zinc ($1.30/lb.) and foreign exchange rates of AUD:USD ($0.70), CAS:USD ($0.75), and USD:MXN ($17.00) and other assumptions considered reasonable as of February 19, 2026. Any change from these assumptions may affect the results in comparison to forward looking guidance. See endnotes for additional details. (4) Sustaining and development capital guidance for the total portfolio on an attributable basis, excluding capitalized interest. Improved 2026 guidance as a result of continued focus on operating discipline, productivity improvements, and co-product sales helping to offset inflationary pressures across the portfolio 1.4Moz $600M $1,250/oz $1,900/oz $520M
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10NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Deliver Key Points with Clear and Simple Messaging 10NEWMONT CORPORATION Executing with Discipline, Delivering Results On Track to Achieve 2026 Guidance Stable third quarter production and cost performance, supporting continued delivery on commitments through the remainder of the year World-Class Portfolio Maximizing Margins and Free Cash Flow Growth Well positioned to maximize margins and generate robust free cash flow, underpinned by an unrivaled portfolio of world-class operations and projects Consistent Capital Allocation Framework Delivering Returns Preserving financial flexibility and delivering predictable returns to shareholders through quarterly dividends and ongoing share repurchases Well positioned to deliver production growth, strong cash generation and consistent shareholder returns, supported by a world class portfolio and disciplined execution
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11NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Appendix 11
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12NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Third Quarter Operational Performance Leveraging a strong foundation to advance near-term production growth Asia Pacific & Africa ▪ Delivered higher QoQ production, supported by improved UG operations following successful recovery from the April seismic event ▪ Last drawbell at PC2-3 fired in Sept., keeping the project on track for handover to operations by year-endCadia ▪ Delivered lower grades in Q3 as planned, ahead of a transition to higher grade stopes in Q4 ▪ TE2 shaft complete, advancing toward mechanical completion by end of year and commercial production by end of H1 2027Tanami ▪ Slightly lower Q3 production reflected planned maintenance, while near- completion of waste stripping campaign supported higher grades ▪ Production is expected to increase in Q4 with continued access to higher grade ore as planned Boddington ▪ Completed planned maintenance in Q3, with higher grades and mill throughput expected in Q4 ▪ Advancing Nearshore Barrier project, unlocking access to more than 5 Moz beginning in 2028Lihir ▪ Delivered consistent ounces in Q3 as ramp-up continues for the first full year of production ▪ Updated pit designs are expected to support higher production in Q4 through improved access to higher- grade ore Ahafo North ▪ Delivered stable Q3 production, supported by mine sequencing and higher mill throughput ▪ Processed the remaining high-grade Subika open pit stockpiles in early Q3 Ahafo South The Americas ▪ Strong Q3 co-product production reflected higher throughput, grades and recoveries ▪ Expect to deliver lower co-product grades and throughput in Q4 as plannedPeñasquito ▪ Delivered higher production in Q3 due to increased mining rates and access to higher grade stopes ▪ Continue to advance mine life extension activities Cerro Negro ▪ Stable throughput and recoveries supported consistent Q3 production, with higher production expected in Q4 following the completion of mill maintenance in Q3 ▪ Continue to advance exploration activities around this emerging assetMerian ▪ Continuing mining through 2026, adding incremental low-cost ounces beginning in 2027 ▪ Evaluating additional opportunities in surrounding regions of Peru to support future investment decisionsYanacocha ▪ Delivered strong Q3 production as a result of mine sequence optimization, improved stope availability, and debottlenecking of UG operations ▪ Focused on advancing near-mine exploration opportunitiesBrucejack ▪ Production continues to decrease with low grade stockpile processing during planned stripping campaign ▪ Finalizing feasibility study for block cave project Red Chris See endnotes re: forward looking statements.
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13NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Capital Allocation Framework1 Net Cash from Operations Net cash provided by operations including net changes in working capital (including reclamation spend) Sustaining Capital $1.95B Expected 2026 Spend (+/- 5%) ▪ Ongoing investment in world-class portfolio to deliver safe production ▪ Preserving asset integrity and longevity Total Cash Dividend $1.1B Targeted Annual Payment ▪ Sustainable cash dividend payment through the cycle ▪ Per share dividend growth driven by share repurchases calculated annually2 Development Capital + Ongoing Portfolio Optimization $1.4B Expected 2026 Spend (+/- 5%) ▪ Advancing up to three major high-return projects at a time, with staggered starts ▪ Funding brownfield and mine life extension projects across operating asset base ▪ Ongoing portfolio enhancement and optimization Net Cash/ Net Debt $1.0B Net Cash Target (+/- $2.0B) ▪ Strong liquidity profile supported by a $5 billion cash minimum on balance sheet and undrawn Revolving Credit Facility ▪ De-lever balance sheet during strong commodity price cycles, with tolerance to hold net cash in periods of volatility ▪ Continue to manage gross debt across commodity and investment cycles to optimize balance sheet efficiency Share Repurchases ~$2.8B Remaining Authorization ▪ Ratable approach to returning capital to shareholders across cycles, supporting sustained per-share metric growth ▪ Share repurchase authorizations to be refreshed at the discretion of the Board Disciplined, sustainable returns through the commodity and investment cycles (1) See endnotes re: forward-looking statements, non-GAAP metrics, dividends, share repurchases and capital allocation framework. (2) The total targeted annual dividend will be calculated annually in February by dividing $1.1 billion by shares issued and outstanding. The dividend payment will be divided into four equal payments rounded up to the nearest $0.01 to be paid out quarterly. A dividend of $0.26/share has been declared payable on December 21, 2026, to holders of record of such common stock at the close of business on November 25, 2026. Future dividend remain subject to approval and declaration by the Board. (3) Excess Cash is defined as cash available from operations (including Exploration, G&A, etc.) after funding balance sheet obligations (including debt principal repayments and reclamation spend) and capital expenditures, paying the dividend, achieving the net cash target, and other investing and financing activities. Constant through the cycleFlex through the cycleExcess Cash3
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14NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS 50% Labor Costs 30% Materials & Consumables 15% Fuel & Energy Costs 25% Contracted Services 25% Newmont Employees 7% Consumables 6% Maintenance Parts 7% Chemicals, Reagents, & Explosives 6% Liners & Wear Parts 4% Other 6% Diesel 5% Electric Power 4% Other (1) Represents results based on 2026 Guidance. ”Other” category of 5% primarily includes freight, technology-related costs, employee administrative costs, rents and operating leases. See endnotes re: forward looking statements. Direct Operating Costs by Category1 Assumptions for 2026 guidance as of February 19, 2026
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15NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Basis for 2026 Guidance Pricing Assumptions and Sensitivities (as of February 19, 2026) Assumption Change (-/+) Revenue & Cost Impacts ($M) (1) Gold ($/oz) $4,500 $100 $505 Australian Dollar $0.70 $0.05 $100 Canadian Dollar $0.75 $0.05 $30 Mexican Peso $17.00 $1.00 $25 Oil ($/bbl Brent) Direct Impact $70.00 $10.00 $60 Oil ($/bbl Brent) Indirect Impact (2) $70.00 $10.00 $50 Copper ($/tonne) $11,023 $550 $60 Silver ($/oz) (3) $60.00 $1.00 $25 Lead ($/tonne) $1,894 $220 $20 Zinc ($/tonne) $2,866 $220 $50 (1) Impacts are presented on a pretax basis. See endnotes for additional information on guidance and assumptions. (2) Indirect impacts from change in oil pricing include cost escalation on processing spend, including chemicals, explosives and grinding media, fixed plant spend, mining spend and contracted services spend. (3) Silver revenue impact relates only to co-product silver revenue from Peñasquito including the impact of the silver stream agreement. 15NEWMONT CORPORATION ▪ Excluded from the sensitivity is a royalty and production tax, and workers participation impact of approximately $6 per ounce for every $100 per ounce change in gold price ▪ Co-product metal pricing assumptions in imperial units equate to Copper ($5.00/lb.), Lead ($0.90/lb.) and Zinc ($1.30/lb.)
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16NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS (1) Interest expenses guidance is net of capitalized interest. (2) The adjusted tax rate excludes certain items such as tax valuation allowance adjustments. (3) Assuming average prices of $4,500 per ounce for gold, $5.00 per pound for copper, $60.00 per ounce for silver, $0.90 per pound for lead, and $1.30 per pound for zinc and achievement of current production, sales and cost estimates, Newmont estimates its consolidated adjusted effective tax rate related to continuing operations for 2026 will be 33 percent. 2026 Consolidated Expense and Capital Guidance Guidance Metric (+/-5%) 2026E General & Administrative ($M) $375 Interest Expense ($M) (1) $175 Depreciation & Amortization ($M) $2,815 Reclamation and Remediation Accretion ($M) $385 Adjusted Tax Rate (2)(3) 33% (1) Sustaining capital is presented on an attributable basis . (2) Capital guidance excludes amounts attributable to the Pueblo Viejo joint venture. Guidance Metric (+/-5%) 2026E Q4 2026E Total Newmont Sustaining Capital(1)(2) ($M) $1,950 $600 Total Newmont Development Capital (2) $1,400 $520 Capitalized Interest ($M) $175 -
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17NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Non-GAAP Reconciliations & Endnotes 17
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18NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Gold All-in Sustaining Costs - 2026 Guidance A reconciliation of the 2026 Gold AISC guidance to the 2026 Gold CAS guidance is provided below. The estimates in the table below are considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. (1) 2026 guidance projections are considered forward-looking statements and represent management’s good faith estimates or expectations of future production results as of October 22, 2026. Guidance is based upon certain assumptions, including, but not limited to, metal prices, oil prices, certain exchange rates and other assumptions. For example, 2026 Guidance assumes $0.70 AUD/USD exchange rate, $0.75 CAD/USD exchange rate and $70/barrel Brent. The potential impact on inventory valuation as a result of lower prices, input costs, and project decisions are not included as part of this Guidance. Assumptions used for purposes of Guidance may prove to be incorrect and actual results may differ from those anticipated. Guidance cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon Guidance and forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. Amounts may not recalculate to totals due to rounding. See cautionary statement at the end of this presentation. (2) The reconciliation is provided for illustrative purposes in order to better describe management’s estimates of the components of the calculation. Estimates for each component of the forward-looking All-in sustaining costs per ounce are independently calculated and, as a result, the total All-in sustaining costs and the All-in sustaining costs per ounce may not sum to the component ranges. While a reconciliation to the most directly comparable GAAP measure has been provided for the 2026 AISC Gold Guidance on a consolidated basis, a reconciliation has not been provided on an individual site or project basis in reliance on Item 10(e)(1)(i)(B) of Regulation S-K because such reconciliation is not available without unreasonable efforts. (3) All values are presented on a consolidated basis for Newmont. (4) Excludes Depreciation and amortization and Reclamation and remediation. (5) Includes stockpile and leach pad inventory adjustments. (6) Reclamation costs include operating accretion and amortization of asset retirement costs. (7) Advanced Projects and Exploration excludes non-sustaining advanced projects and exploration. (8) Includes stock-based compensation. (9) Excludes development capital expenditures, capitalized interest and change in accrued capital. (10) Assumes copper production of 102 thousand tonnes at $11,023 per tonne, silver production of 32 million ounces at $60.00 per ounce, lead production of 90 thousand tonnes at $1,894 per tonne, and zinc production of 220 thousand tonnes at $2,866 per tonne. (11) Consolidated sales for Merian is presented on a total sales basis for the mine site and excludes sales from Pueblo Viejo and Fruta del Norte. 2026 Guidance - Gold (1)(2)(3) (in millions, except ounces and per ounce) Guidance Estimate Cost Applicable to Sales (4)(5) $ 8,610 Reclamation Costs (6) 220 Advanced Projects and Exploration (7) 200 General and Administrative (8) 375 Other Expense 25 Treatment and Refining Costs 145 Sustaining Capital (9) 1,950 Sustaining Finance Lease Payments 105 Less: Consolidated Other Metal Sales, net (10) (4,180) Gold By-Product AISC $ 7,450 Ounces (000) Sold (11) 4,900 Gold By-Product AISC per Ounce $ 1,520
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19NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Free cash flow The following table sets forth a reconciliation of Free cash flow, a non-GAAP financial measure, to Net cash provided by (used in) operating activities, which the Company believes to be the GAAP financial measure most directly comparable to Free cash flow, as well as information regarding Net cash provided by (used in) investing activities and Net cash provided by (used in) financing activities. (1) Net cash provided by (used in) investing activities includes Additions to property, plant and mine development, which is included in the Company’s computation of Free cash flow. Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net cash provided by (used in) operating activities $ 2,768 $ 2,298 $ 9,477 $ 6,713 Less: Additions to property, plant and mine development (856) (727) (2,216) (2,227) Free Cash Flow $ 1,912 $ 1,571 $ 7,261 $ 4,486 Net cash provided by (used in) investing activities(1) $ (817) $ (31) $ (1,850) $ 1,386 Net cash provided by (used in) financing activities $ (2,108) $ (2,800) $ (6,409) $ (6,207)
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20NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Adjusted net income (loss) Net income (loss) attributable to Newmont stockholders is reconciled to Adjusted net income (loss) as follows: Three Months Ended September 30, 2026 Nine Months Ended September 30, 2026 per share data (1) per share data (1) basic diluted basic diluted Net income (loss) attributable to Newmont stockholders $ 2,475 $ 2.36 $ 2.35 $ 7,939 $ 7.45 $ 7.43 Adjustments: Reclamation and remediation charges (2) 116 0.11 0.11 116 0.11 0.11 (Gain) loss on asset and investment sales (3) (40) (0.04) (0.04) (39) (0.04) (0.04) Restructuring and severance (4) 7 — — 25 0.02 0.02 Change in fair value of investments and options (5) — — — 24 0.02 0.02 Impairment charges (6) 2 — — 13 0.01 0.01 (Gain) loss on sale of assets held for sale (7) — — — (5) — — Settlement costs (8) 1 — — 1 — — (Gain) loss on debt extinguishment (9) — — — (1) — — Other (10) (8) — — (37) (0.03) (0.03) Tax effect of adjustments (11) (29) (0.02) (0.02) (29) (0.02) (0.02) Valuation allowance and other tax adjustments (12) (215) (0.21) (0.20) (296) (0.29) (0.28) Adjusted net income (loss) $ 2,309 $ 2.20 $ 2.20 $ 7,711 $ 7.23 $ 7.22 Weighted average common shares (millions): (13) 1,049 1,051 1,066 1,069 (1) Per share measures may not recalculate due to rounding. (2) Represents revisions to reclamation and remediation plans at the Company's former operating properties and historic mining operations that have entered the closure phase and have no substantive future economic value; included in Reclamation and remediation. Refer to Note 6 to the Condensed Consolidated Financial Statements for further information. (3) Primarily consists of gains and losses related to the sale of certain assets and investments; included in Other income (loss), net. (4) Primarily consists of restructuring and severance related costs associated with significant organizational or operating model changes implemented by the Company for all periods presented; included in Other expense, net. (5) Primarily consists of the unrealized gains and losses related to the Company's marketable equity and other securities; included in Other income (loss), net. (6) Consists of non-cash write-downs of various assets that are no longer in use and materials and supplies inventories; included in Other expense, net. (7) Consists of the impact of finalization of certain working capital adjustments on completed divestments; included in (Gain) loss on sale of assets held for sale. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information. (8) Primarily consists of amounts incurred related to non-recurring contractual obligations arising outside the ordinary course of business; included in Other expense, net. (9) Consists of the gain on debt redemptions; included in Other income (loss), net. Refer to Note 15 to the Condensed Consolidated Financial Statements for further information. (10) Primarily consists of activity related to prior divestitures; included in Other income (loss), net. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on the Company's divestitures completed in 2025. (11) The tax effect of adjustments, included in Income and mining tax benefit (expense), represents the tax effect of adjustments in footnotes (2) through (10), as described above, and are calculated using the applicable regional tax rate. (12) Valuation allowance and other tax adjustments, included in Income and mining tax benefit (expense), is recorded for items such as foreign tax credits, capital losses, disallowed foreign losses, and the effects of changes in foreign currency exchange rates on deferred tax assets and deferred tax liabilities. The adjustment for the three and nine months ended September30, 2026 reflects the net increase or (decrease) to net operating losses, capital losses, tax credit carryovers, and other deferred tax assets subject to valuation allowance of $292 and $155, the effects of changes in foreign exchange rates on deferred tax assets and liabilities of $3 and $12, net reductions to the reserve for uncertain tax positions of $(23) and $(66), and other tax adjustments of $(487) and $(397). For further information on reductions to the reserve for uncertain tax positions, refer to Note 9 to the Condensed Consolidated Financial Statements. (13) Adjusted net income (loss) per diluted share is calculated using diluted common shares in accordance with GAAP.
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21NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS All-in Sustaining Costs All-in sustaining costs represent the sum of certain costs, recognized as GAAP financial measures, that management considers to be associated with production. All-in sustaining costs per ounce amounts are calculated by dividing all-in sustaining costs by gold ounces or gold equivalent ounces sold. (1) Excludes Depreciation and amortization and Reclamation and remediation. (2) Includes by-product credits of $116. (3) Includes stockpile, leach pad, and product inventory adjustments of $(2) at NGM. (4) Includes operating accretion of $33, included in Reclamation and remediation, and amortization of asset retirement costs of $25; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $42 and $124, respectively, included in Reclamation and remediation. (5) Excludes development expenditures of $1 at Cadia, $1 at Tanami, $2 at Boddington, $20 at Ahafo South, $8 at Merian, $6 at Cerro Negro, $4 at Yanacocha, $5 at Peñasquito, $2 at Red Chris, $10 at NGM, $17 at Corporate and Other, totaling $76 related to developing new operations or major projects at existing operations where these projects will materially benefit the operation. (6) Excludes restructuring and severance of $7, impairment charges of $2, and settlement costs of $1 included in Other expense, net. (7) Excludes capitalized interest related to sustaining capital expenditures. Refer to Liquidity and Capital Resources within Part I, Item 2, MD&A for capital expenditures by segment. (8) Includes finance lease payments and other costs for sustaining projects of $25. (9) Per ounce measures may not recalculate due to rounding. (10) Production and cost metrics were impacted by the operational stoppage during the second quarter of 2026 due to the Cadia seismic event. (11) Corporate and Other includes the Company's business activities relating to its corporate and regional offices and all equity method investments. Refer to Note 4 to the Condensed Consolidated Financial Statements for further information. (12) Gold equivalent ounces is calculated as pounds or ounces produced multiplied by the ratio of the other metals price to the gold price, using Gold ($4,000/oz.), Copper ($5.00/lb.), Silver ($50.00/oz.), Lead ($0.90/lb.), and Zinc ($1.30/lb.) pricing for 2026. (13) Cadia sold 8 thousand tonnes of copper, Boddington sold 5 thousand tonnes of copper, Peñasquito sold 11 million ounces of silver, 21 thousand tonnes of lead and 67 thousand tonnes of zinc, and Red Chris sold 5 thousand tonnes of copper. (14) All-in sustaining costs at Peñasquito is comprised of $236, $18, and $112 for silver, lead, and zinc, respectively. (15) Excludes treatment and refining costs as these amounts are reflected in co-product all-in sustaining costs from GEOs; refer to the "Net average realized price per ounce/ pound" section below for a reconciliation of sales. Three Months Ended September 30, 2026 Costs Applicable to Sales (1)(2)(3) Reclamation Costs (4) Advanced Projects, Research and Development and Exploration (5) General and Administrativ e Other Expense, Net (6) Treatment and Refining Costs Sustaining Capital and Lease Related Costs (7)(8) Co- Product All-In Sustaining Costs Ounces (000) Sold Co- Product All-In Sustaining Costs Per oz. (9) Co- Product All-In Sustainin g Costs from GEO Less: Co- product sales (15) By- Product All-In Sustaining Costs By- Product All-In Sustaining Costs per Ounce (9) Gold Managed Lihir $ 241 $ 4 $ 2 $ — $ — $ — $ 31 $ 278 145 $ 1,912 $ — $ — $ 278 $ 1,912 Cadia (10) 66 1 1 — — 1 78 147 43 $ 3,390 78 (128) 97 $ 2,236 Tanami 113 1 4 — — — 62 180 80 $ 2,267 — — 180 $ 2,267 Boddington 210 6 2 — — (1) 40 257 165 $ 1,554 23 (81) 199 $ 1,214 Ahafo South 215 3 3 — 1 — 33 255 113 $ 2,261 — — 255 $ 2,261 Ahafo North 94 1 4 — — — 22 121 70 $ 1,714 — — 121 $ 1,714 Merian 104 2 1 — — — 26 133 66 $ 1,988 — — 133 $ 1,988 Cerro Negro 78 2 — — 3 — 23 106 51 $ 2,097 — — 106 $ 2,097 Yanacocha 128 6 1 — 3 — 3 141 118 $ 1,199 — — 141 $ 1,199 Peñasquito 64 4 — — — 1 9 78 44 $ 1,735 366 (862) (418) $ (9,301) Red Chris 25 1 — — — (2) 7 31 10 $ 3,176 47 (77) 1 $ (131) Brucejack 78 1 9 — (1) — 45 132 59 $ 2,249 — — 132 $ 2,249 Non-managed NGM 343 5 — 3 — 1 80 432 247 $ 1,760 — — 432 $ 1,760 Corporate and Other (11) (5) — 19 66 2 — 4 86 — $ — 18 — 104 $ — Total Gold 1,754 37 46 69 8 — 463 2,377 1,211 $ 1,963 $ 532 $ (1,148) $ 1,761 $ 1,454 Gold equivalent ounces - other metals (12)(13) Managed Cadia (10) 35 1 — — — 1 41 78 23 $ 3,445 Boddington 20 — — — — — 3 23 15 $ 1,578 Peñasquito (14) 297 18 — (1) — 15 37 366 195 $ 1,879 Red Chris 37 2 — — — (3) 11 47 15 $ 3,225 Corporate and Other (11) — — 4 14 — — — 18 — $ — Total Gold Equivalent Ounces 389 21 4 13 — 13 92 532 248 $ 2,154 Consolidated $ 2,143 $ 58 $ 50 $ 82 $ 8 $ 13 $ 555 $ 2,909
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22NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS All-in Sustaining Costs Nine Months Ended September 30, 2026 Costs Applicable to Sales (1)(2)(3) Reclamation Costs (4) Advanced Projects, Research and Development and Exploration (5) General and Administrative Other Expense, Net (6) Treatment and Refining Costs Sustaining Capital and Lease Related Costs (7)(8) Co-Product All-In Sustaining Costs Ounces (000) Sold Co-Product All-In Sustaining Costs Per oz. (9) Co-Product All-In Sustaining Costs from GEO Less: Co-product sales (15) By-Product All-In Sustaining Costs By-Product All-In Sustaining Costs per Ounce (9) Gold Managed Lihir $ 630 $ 11 $ 9 $ — $ — $ — $ 82 $ 732 407 $ 1,798 $ — $ — $ 732 $ 1,798 Cadia (10) 241 3 4 — 18 3 185 454 187 $ 2,427 273 (562) 165 $ 884 Tanami 330 5 9 — — — 178 522 258 $ 2,022 — — 522 $ 2,022 Boddington 546 19 2 — — (1) 119 685 417 $ 1,642 58 (184) 559 $ 1,342 Ahafo South 626 8 6 — 1 — 99 740 330 $ 2,245 — — 740 $ 2,245 Ahafo North 254 3 9 — — — 43 309 200 $ 1,541 — — 309 $ 1,541 Merian 319 6 2 — — — 65 392 224 $ 1,748 — — 392 $ 1,748 Cerro Negro 225 6 1 — 15 — 67 314 158 $ 1,988 — — 314 $ 1,988 Yanacocha 400 17 3 — 9 — 6 435 386 $ 1,129 — — 435 $ 1,129 Peñasquito 203 14 — — — 6 27 250 135 $ 1,845 962 (2,306) (1,094) $ (8,082) Red Chris 66 4 1 — — (2) 15 84 35 $ 2,405 115 (235) (36) $ (1,069) Brucejack 272 4 17 — — — 83 376 173 $ 2,171 — — 376 $ 2,171 Non-managed NGM 1,006 15 11 8 2 5 205 1,252 728 $ 1,721 — — 1,252 $ 1,721 Corporate and Other (11) (5) — 56 191 6 — 5 253 — $ — 47 — 300 $ — Total Gold 5,113 115 130 199 51 11 1,179 6,798 3,638 $ 1,869 $ 1,455 $ (3,287) $ 4,966 $ 1,365 Gold equivalent ounces - other metals (12)(13) Managed Cadia (10) 144 2 2 — 11 4 110 273 111 $ 2,461 Boddington 49 1 — — — (1) 9 58 36 $ 1,613 Peñasquito (14) 769 51 — — — 43 99 962 491 $ 1,960 Red Chris 93 6 1 — — (7) 22 115 47 $ 2,455 Corporate and Other (11) — — 11 36 — — — 47 — $ — Total Gold Equivalent Ounces 1,055 60 14 36 11 39 240 1,455 685 $ 2,124 Consolidated $ 6,168 $ 175 $ 144 $ 235 $ 62 $ 50 $ 1,419 $ 8,253 All-in sustaining costs represent the sum of certain costs, recognized as GAAP financial measures, that management considers to be associated with production. All-in sustaining costs per ounce amounts are calculated by dividing all-in sustaining costs by gold ounces or gold equivalent ounces sold. (1) Excludes Depreciation and amortization and Reclamation and remediation. (2) Includes by-product credits of $399. (3) Includes stockpile, leach pad, and product inventory adjustments of $14 at Cadia and $1 at NGM. (4) Includes operating accretion of $100, included in Reclamation and remediation, and amortization of asset retirement costs of $75; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $124 and $134, respectively, included in Reclamation and remediation. (5) Excludes development expenditures of $7 at Cadia, $1 at Tanami, $5 at Boddington, $42 at Ahafo South, $1 at Ahafo North, $21 at Merian, $16 at Cerro Negro, $8 at Yanacocha, $12 at Peñasquito, $4 at Red Chris, $23 at NGM, $54 at Corporate and Other, totaling $194 related to developing new operations or major projects at existing operations where these projects will materially benefit the operation. (6) Excludes restructuring and severance of $25, impairment charges of $13, and settlement costs of $1 included in Other expense, net. (1) Excludes capitalized interest related to sustaining capital expenditures. Refer to Liquidity and Capital Resources within Part I, Item 2, MD&A for capital expenditures by segment. (2) Includes finance lease payments and other costs for sustaining projects of $71. (3) Per ounce measures may not recalculate due to rounding. (4) Production and cost metrics were impacted by the operational stoppage during the second quarter of 2026 due to the Cadia seismic event. (5) Corporate and Other includes the Company's business activities relating to its corporate and regional offices and all equity method investments. Refer to Note 4 to the Condensed Consolidated Financial Statements for further information. (6) Gold equivalent ounces is calculated as pounds or ounces produced multiplied by the ratio of the other metals price to the gold price, using Gold ($4,000/oz.), Copper ($5.00/lb.), Silver ($50.00/oz.), Lead ($0.90/lb.), and Zinc ($1.30/lb.) pricing for 2026. (7) Cadia sold 40 thousand tonnes of copper, Boddington sold 13 thousand tonnes of copper, Peñasquito sold 27 million ounces of silver, 66 thousand tonnes of lead and 165 thousand tonnes of zinc, and Red Chris sold 17 thousand tonnes of copper. (8) All-in sustaining costs at Peñasquito is comprised of $621, $59, and $282 for silver, lead, and zinc, respectively. (9) Excludes treatment and refining costs as these amounts are reflected in co-product all-in sustaining costs from GEOs; refer to the "Net average realized price per ounce/ pound" section below for a reconciliation of sales.
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23NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS EBITDA and Adjusted EBITDA Net income (loss) attributable to Newmont stockholders is reconciled to EBITDA and Adjusted EBITDA as follows: Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net income (loss) attributable to Newmont stockholders $ 2,475 $ 1,832 $ 7,939 $ 5,784 Net income (loss) attributable to noncontrolling interests 39 11 154 36 Equity loss (income) of affiliates (143) (123) (496) (250) Income and mining tax expense (benefit) 839 787 3,195 2,526 Depreciation and amortization 632 643 1,868 1,856 Interest expense, net of capitalized interest 31 52 105 196 EBITDA 3,873 3,202 12,765 10,148 Adjustments: Reclamation and remediation charges (1) 116 41 116 41 (Gain) loss on asset and investment sales (2) (40) 6 (39) 13 Restructuring and severance (3) 7 87 25 111 Change in fair value of investments and options (4) — (38) 24 (480) Impairment charges (5) 2 39 13 63 (Gain) loss on sale of assets held for sale (6) — (99) (5) (1,074) Settlement costs (7) 1 (2) 1 1 (Gain) loss on debt extinguishment (8) — 72 (1) 100 Newcrest transaction and integration costs (9) — 2 — (4) Other (10) (8) (1) (37) 16 Adjusted EBITDA $ 3,951 $ 3,309 $ 12,862 $ 8,935 (1) Represents revisions to reclamation and remediation plans at the Company's former operating properties and historic mining operations that have entered the closure phase and have no substantive future economic value; included in Reclamation and remediation. Refer to Note 6 to the Condensed Consolidated Financial Statements for further information. (2) Primarily consists of gains and losses related to the sale of certain assets and investments; included in Other income (loss), net. (3) Primarily consists of restructuring and severance related costs associated with significant organizational or operating model changes implemented by the Company for all periods presented; included in Other expense, net. (4) Primarily consists of the unrealized gains and losses related to the Company's marketable equity and other securities; included in Other income (loss), net. (5) Consists of non-cash write-downs of various assets that are no longer in use and materials and supplies inventories; included in Other expense, net. (6) Primarily consists of the gain on the sales of certain non-core assets in 2025; included in (Gain) loss on sale of assets held for sale. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information. (7) Primarily consists of amounts incurred related to non-recurring contractual obligations arising outside the ordinary course of business; included in Other expense, net. (8) Consists of the gains and losses on debt redemptions incurred in 2026 and 2025, respectively; included in Other income (loss), net. Refer to Note 15 to the Condensed Consolidated Financial Statements for further information. (9) Consists of costs incurred in 2025 related to the Newcrest transaction; included in Other expense, net. (10) Primarily consists of activity related to prior divestitures; included in Other income (loss), net. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on the Company's divestitures completed in 2025.
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24NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Endnotes Investors are encouraged to read the information contained in this presentation in conjunction with Newmont’s Form 10-Q for the quarter ended September 30, 2026, filed on October 22, 2026. Investors are reminded that expectations regarding outlook and guidance, including future financial results, operating performance, projects, exploration, investments, capital allocation, dividends and transactions are forward looking and remain subject to risk and uncertainties. See Cautionary Statement on slide 2, the risk factors section in the Form 10-K and other factors identified in the Company’s reports filed with the SEC including the Form 10-Q filed on October 22, 2026, and the notes below. Guidance Assumptions. Guidance and projections used in this presentation are considered forward-looking statements and represent management’s good faith estimates or expectations of future production results as of February 19, 2026. Guidance is based upon certain assumptions, including, but not limited to, metal prices, oil prices, certain exchange rates and other assumptions. See slide 15 for examples of such assumptions and estimated revenue and cost impacts of changes therefrom. Production, CAS, AISC and capital estimates exclude projects that have not yet been approved. The potential impact on inventory valuation as a result of lower prices, input costs, and project decisions are not included as part of this Guidance. Assumptions used for purposes of Guidance may prove to be incorrect and actual results may differ from those anticipated, including variation beyond a +/-5% range. Guidance cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon Guidance and forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur. Reserves and Resources gold equivalent ounces (GEOs). Gold Equivalent Ounces calculated using Mineral Reserve pricing: Gold ($2,000/oz.), Copper ($3.75/lb.), Silver ($25/oz.), Lead ($0.90/lb.), and Zinc ($1.20/lb.) and Resource pricing: Gold ($2,300/oz.), Copper ($4.25/lb.), Silver ($28/oz.), Lead ($1.00/lb.), and Zinc ($1.30/lb.) and metallurgical recoveries for each metal on a site-by-site basis as: metal * [(metal price * metal recovery) / (gold price * gold recovery)]. Share Repurchase Program. In April 2026, the Board of Directors authorized an additional $6,000 million stock repurchase program to repurchase shares of outstanding common stock. The program will be executed at the Company's discretion. The repurchase program has no expiration date, may be discontinued at any time, and the program does not obligate the Company to acquire any specific number of shares of its common stock or to repurchase the full authorized amount. Consequently, the Board of Directors may revise or terminate such share repurchase authorization in the future. See Part II, Item 5 of the form 10-K for additional information, including maximum dollar amount that may yet be purchased under the program. Capital Allocation Framework and Dividends. Future dividends, beyond the dividend declared for the third quarter 2026, have not yet been approved or declared by the Board of Directors. An annualized dividend payout level has not been declared by the Board and is non-binding. The Company’s dividend framework and expected 2026 dividend payout ranges are non-binding. Management’s expectations with respect to future dividends, annualized dividends, payout ranges or dividend yield are “forward-looking statements.” The declaration and payment of future dividends remain at the discretion of the Board of Directors and will be determined based on Newmont’s financial results, balance sheet strength, cash and liquidity requirements, future prospects, gold and commodity prices, and other factors deemed relevant by the Board. The Board of Directors reserves all powers related to the declaration and payment of dividends. Consequently, in determining the dividend to be declared and paid on the common stock of the Company, the Board of Directors may revise or terminate the payment level at any time without prior notice. The Capital Allocation Framework is provided for illustrative purposes and remains non-binding. Guidance expectations, including capital allocation uses, future dividends, debt management and share repurchases, are forward-looking statements. Productivity Improvements. Productivity Improvements are a management estimate provided for illustrative purposes and should not be considered a GAAP or non-GAAP financial measure. Such estimates are necessarily imprecise and are based on numerous judgments and assumptions. Projections. Projections, outlook and non-historical estimates used in this presentation are considered “forward looking statements”. See cautionary statement above regarding forward-looking statements. Estimates such as expected accretion, net asset value (NAV) per share, cash flow enhancement, synergies and future production are preliminary in nature. Non-GAAP Metrics. are defined and reconciled in the non-GAAP endnote appendix and are also available in the Company's Form 10-Q for the quarter ended September 30, 2026. Investors are encouraged to refer to Item 7, Management Discussion and Analysis, under the heading Non-GAAP Financial Measures for additional information, including with respect to Free Cash Flow and All-In Sustaining Costs. Free Cash Flow. FCF is a non-GAAP metric and is generated from Net cash provided from operating activities of continuing operations on an attributable basis less Additions to property, plant and mine development on an attributable basis. See appendix for more information and for a reconciliation to the nearest GAAP metric. Attributable FCF projections as used in outlook are forward-looking statements and remain subject to risks and uncertainties. All-in Sustaining Cost. AISC or All-in sustaining cost is a non-GAAP metric. AISC as used in the Company’s outlook is a forward-looking statement and is therefore subject to uncertainties. AISC is a non-GAAP metric defined as the sum of cost applicable to sales (including all direct and indirect costs related to current gold production incurred to execute on the current mine plan), remediation costs (including operating accretion and amortization of asset retirement costs), G&A, exploration expense, advanced projects and R&D, treatment and refining costs, other expense, net of one-time adjustments, sustaining capital and finance lease payments. See appendix for more information and a reconciliation of 2026 AISC outlook to the 2026 CAS outlook. Adjusted Net Income (Loss). Management uses Adjusted net income (loss) to evaluate the Company’s operating performance and for planning and forecasting future business operations. The Company believes the use of Adjusted net income (loss) allows investors and analysts to understand the results of the continuing operations of the Company and its direct and indirect subsidiaries relating to the sale of products, by excluding certain items that have a disproportionate impact on our results for a particular period. Adjustments to continuing operations are presented before tax and net of our partners’ noncontrolling interests, when applicable. The tax effect of adjustments is presented in the Tax effect of adjustments line and is calculated using the applicable tax rate. Management’s determination of the components of Adjusted net income (loss) are evaluated periodically and based, in part, on a review of non-GAAP financial measures used by mining industry analysts.
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25NEWMONT CORPORATION THIRD QUARTER 2026 RESULTS Endnotes Adjusted EBITDA. Adjusted EBITDA is a non-GAAP metric. Management uses Earnings before interest, taxes, and depreciation and amortization (“EBITDA”) and EBITDA adjusted for non-core or certain items that have a disproportionate impact on our results for a particular period (“Adjusted EBITDA”) as non-GAAP measures to evaluate the Company’s operating performance. EBITDA and Adjusted EBITDA do not represent, and should not be considered an alternative to, net income (loss), operating income (loss), or cash flow from operations as those terms are defined by GAAP, and do not necessarily indicate whether cash flows will be sufficient to fund cash needs. See appendix for more information and for a reconciliation to the nearest GAAP metric. Net Debt. Net debt is a non-GAAP metric and is calculated as Debt and Lease and other financing obligations less Cash and cash equivalents, as presented on the Consolidated Balance Sheets. Cash and cash equivalents are subtracted from Debt and Lease and other financing obligations as these could be used to reduce the Company's debt obligations. The Company believes the use of Net debt allows investors and others to evaluate financial flexibility and strength of the Company's balance sheet. The Company has also presented Net debt excluding Lease and other financing obligations to provide a supplemental view of evaluating the financial flexibility and strength of the Company's balance sheet. Net debt is intended to provide additional information only and does not have any standardized meaning prescribed by GAAP and should not be considered in isolation or as a substitute for measures of liquidity prepared in accordance with GAAP. Other companies may calculate this measure differently. Past Performance. Past performance metrics and figures included in this presentation are given for illustrative purposes only and should not be relied upon as (and are not) an indication of Newmont’s views on its future financial performance or condition or prospects (including on a consolidated basis). Investors should note that past performance of Newmont, including in relation to the past value returned to stockholders and past value creation and annual synergies, and other historical financial information cannot be relied upon as an indicator of (and provide no guidance, assurance or guarantee as to) future performance, including future synergies or value to stockholders. Cautionary Statement Regarding Mineral Reserve and Resource Estimates. The mineral reserve and resource estimates herein with respect to Newmont represent estimates at December 31, 2025, which could be economically and legally extracted or produced at the time of their determination. Estimates of proven and probable reserves are subject to considerable uncertainty. Such estimates are, or will be, to a large extent, based on metal prices and interpretations of geologic data obtained from drill holes and other exploration techniques, which data may not necessarily be indicative of future results. Additionally, Newmont’s resource estimates do not indicate proven and probable reserves as defined by the SEC or Newmont’s standards. Estimates of measured, indicated and inferred resources are subject to further exploration and development, and are, therefore, subject to considerable uncertainty. Inferred resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. Newmont cannot be certain that any part or parts of its resources will ever be converted into reserves, and investors are cautioned not to assume that all or any part of an inferred mineral resource exists or is economically or legally mineable. For additional information on our reserves and resources, please see Item 2 of the Company’s Form 10-K, filed on, or about, February 19, 2026 with the SEC, and “Item 1A. Risk Factors — Risks Related to Our Operations and Business — Estimates of proven and probable reserves and measured, indicated and inferred resources are uncertain and the volume and grade of ore actually recovered may vary from our estimates”. Mineral reserve and resource estimates are expressed on an attributable basis unless otherwise indicated. Note Regarding Red Chris Block Cave: This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and other applicable securities laws, which are intended to be covered by the safe harbor provided by such laws. Such statements may include expectations regarding: (i) completion, timing, review and outcomes of the Red Chris Block Cave feasibility study; (ii) the timing, receipt and terms of any full-funds investment decision or other approvals, including approvals by Newmont’s Board of Directors; (iii) estimated development capital and other investment requirements; (iv) the availability, amount, timing and final terms of the contribution from the Government of Canada; (v) the timing and completion of construction, development, ramp-up and production; (vi) the expected timing of the end of open-pit operations; (vii) expected gold and copper production, costs, mine life and operating performance; (viii) the number and duration of construction and operating roles; (ix) potential subsequent development phases, expansion opportunities and the potential for an operating; and (x) other expectations regarding the Red Chris Block Cave Project. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect, including assumptions regarding the completion and outcomes of technical, engineering and economic studies; capital and operating cost estimates; commodity prices and foreign exchange rates; geotechnical and geological conditions; labor, contractor, equipment and materials availability; supply-chain conditions; productivity and production rates; permitting and regulatory requirements; the availability and terms of government funding; receipt of required corporate and joint venture approvals; and the timing and successful execution of project development. Forward-looking statements are subject to significant risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including, without limitation: the feasibility study or additional review and assurance work producing different results; changes in project scope, design, sequencing, schedule or economics; increases in capital, transition or operating costs; delays in or failure to obtain investment, joint venture, regulatory or other approvals; commodity-price or foreign-exchange volatility; inflation; labor and contractor availability; supply-chain constraints; geotechnical, geological, technical, construction and execution risks; changes in laws, regulations, permitting conditions or government policy; environmental and social risks; and other risks affecting Newmont and the mining industry. Investors are cautioned that the feasibility study remains subject to finalization, review and governance oversight, the terms of the Government of Canada contribution have not been finalized, and a final investment decision has not been made. There can be no assurance that the project will be approved or developed on the timing, cost, scope or other terms described in this presentation, or at all. Potential subsequent phases and longer-term mine-life opportunities remain subject to further exploration, technical and economic studies, permitting and investment approval. See also cautionary note regarding forward looking statements.