Slides
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SEPTEMBER 29, 2026 Natascha Viljoen President and Chief Executive Officer
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2NEWMONT CORPORATION MINING FORUM AMERICAS PRESENTATION – SEPTEMB ER 2026 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, Tanami Expansion 2, Cadia Panel Caves, Red Chris Block Cave, 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 September 28, 2026 to holders of record at the close of business on September 3, 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 such 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 Form 10-Q filed with the SEC on July 23, 2026, 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 MINING FORUM AMERICAS PRESENTATION – SEPTEMB ER 2026 Newmont: The Gold Equity of Choice UNRIVALED, SUSTAINABLE SCALE World’s largest gold producer with unparalleled ability to benefit from higher gold prices WORLD-CLASS PORTFOLIO Long-life assets and organic growth projects positioned to deliver sustainable value for decades OPERATIONAL EXCELLENCE Relentless focus on safety, operating performance, productivity, and cost discipline to maximize margin expansion DISCIPLINED CAPITAL ALLOCATION Industry leading framework prioritizing portfolio reinvestment, balance sheet resilience, and returns to shareholders SUPERIOR MARKET POSITION United States-domiciled gold producer and only gold equity in the S&P 500 Uniquely positioned to create sustainable value through the cycle from portfolio quality, longevity, & disciplined capital allocation
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4NEWMONT CORPORATION MINING FORUM AMERICAS PRESENTATION – SEPTEMB ER 2026 World Class Portfolio in Leading Mining Jurisdictions 4 Managed Operation Project in Execution Non-Managed JV Equity Investment 12 managed operations located in the world’s most favorable jurisdictions Leading the gold sector with 118Moz in reserves and 149Moz in resources1 2 major projects in execution with the industry’s leading organic project pipeline Unmatched scale, longevity, and quality - built to deliver sustained performance for decades Asia Pacific Lihir Boddington Cadia Cadia Panel Caves Tanami Tanami Expansion 2 Latin America Peñasquito Merian Cerro Negro Yanacocha Pueblo Viejo JV Fruta del Norte North America Brucejack Red Chris Nevada Gold Mines JV Ghana Ahafo North Ahafo South (1) Gold Resources consist of 88.1Moz Measured and Indicated and 60.6Moz Inferred Resources. See cautionary statement re: mineral reserve and resource estimates.
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5NEWMONT CORPORATION INVESTOR PRESENTATION – AUGUST 2026 Meaningful First-Half Results Supports Full-Year Delivery Returns to Shareholders3 $4.6B Through quarterly common dividends and ongoing share repurchases Free Cash Flow2 $5.3B Generating record free cash flow from world-class portfolio Gold Production1 2.6Moz 47kt of copper and 16Moz of silver from full portfolio On track to achieve 2026 guidance with strong momentum going into the second half of the year Received major regulatory approvals for the Red Chris block cave project in British Columbia4 Announced amended JV agreement for NGM to include contribution of Fourmile, Fiberline & Mike Adjusted Net Income2 $5.01/share All-time record ANIPS for six months ended June 30, 2026 (1) Represents attributable production for the total portfolio for six months ended June 30, 2026, 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 9 & 10 (3) Shareholder returns includes total share repurchases and dividends paid between February 19, 2026 and 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. Appointed key executives from internal talent pipeline for next phase of delivery Reduced shares outstanding by over 100M or ~9% since Feb 2024, driving ongoing per-share growth
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6NEWMONT CORPORATION MINING FORUM AMERICAS PRESENTATION – SEPTEMB ER 2026 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 ~$4.3B Remaining Authorization (as of July 23, 2026) ▪ 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 September 28, 2026, to holders of record of such common stock at the close of business on September 3, 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, and achieving the net cash target. Constant through the cycleFlex through the cycleExcess Cash3
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7NEWMONT CORPORATION MINING FORUM AMERICAS PRESENTATION – SEPTEMB ER 2026 7NEWMONT CORPORATION Executing with Discipline, Delivering Results On Track to Achieve 2026 Guidance Stable second 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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8NEWMONT CORPORATION MINING FORUM AMERICAS PRESENTATION – SEPTEMB ER 2026 Natascha Viljoen President & Chief Executive Officer Dave Thornton Executive Vice President & Chief Technical Officer Fireside Chat Q&A
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9NEWMONT CORPORATION MINING FORUM AMERICAS PRESENTATION – SEPTEMB ER 2026 Appendix 9
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10NEWMONT CORPORATION MINING FORUM AMERICAS PRESENTATION – SEPTEMB ER 2026 Endnotes Investors are encouraged to read the information contained in this presentation in conjunction with Newmont’s Form 10-Q for the quarter ended June 30, 2026, filed on July 23, 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 July 23, 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 13 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 second 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 June 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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11NEWMONT CORPORATION MINING FORUM AMERICAS PRESENTATION – SEPTEMB ER 2026 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. Cautionary statement regarding statements related to Nevada Joint Venture Agreement: Statements regarding the expected contribution of Barrick’s Fourmile and Newmont’s Fiberline and Mike developments into the Nevada Gold Mines joint venture; the consideration to be provided by Newmont to Barrick; the amended joint venture agreement and related governance provisions; the resolution of outstanding disputes; Newmont’s consent to Barrick’s proposed IPO of its North American gold assets; and the parties’ ability to maximize value, improve safety and performance, and support the long-term success of the joint venture are forward-looking statements. Forward-looking statements are based on estimates and assumptions that are inherently subject to risks and uncertainties. These include risks relating to the completion and timing of the contemplated property contributions; required approvals, consents and conditions; the realization of anticipated benefits from the amended joint venture agreement, enhanced governance, dispute resolution and property contributions; changes in the value, development prospects or performance of the contributed properties; risks associated with jointly controlled assets and joint venture partners; mining operations, permitting, environmental, health and safety matters, community and stakeholder relations; the proposed IPO, including timing, structure, market conditions, approvals and listing requirements; transaction costs; commodity prices, exchange rates, inflation, interest rates, capital markets and broader macroeconomic, geopolitical, legal, tax and regulatory conditions. Actual results may differ materially from those expressed or implied in forward-looking statements. Readers should not place undue reliance on such statements, which are not guarantees of future performance and are qualified by these cautionary statements.