DENVER, October 23, 2024 – Newmont Corporation (NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM) (Newmont or the Company) today announced third quarter 2024 results and declared a third quarter dividend of $0.25 per share.

Q3 2024 Results1

▪Announced an agreement to sell the Akyem mine in Ghana for up to $1 billion in cash, as well as an agreement to divest the Telfer mine and 70 percent interest in the Havieron project in Western Australia for up to $475 million of gross proceeds

▪Continue to expect to receive at least $2 billion in gross divestiture proceeds from high-quality, non-core asset sales, in addition to the $527 million dollars in cash already received from other investment sales since the beginning of 2024

▪Since the last earnings release, repurchased 9.4 million shares at an average price of $53.16 for a total cost of $500 million, of which $198 million was repurchased during the third quarter2; $750 million of share repurchases completed since program announced in February 2024

▪Newmont's Board authorized an additional $2 billion share repurchase program to be executed at the Company’s discretion, utilizing open market repurchases to occur from time to time throughout the next 24 months3

▪Delivered $786 million in total returns to shareholders through share repurchases and dividend payments2; declared a dividend of $0.25 per share of common stock for the third quarter of 20244

▪Since the last earnings release, reduced nominal debt by $233 million for a cash cost of $210 million, of which $150 million was purchased during the third quarter and $83 million was purchased in October 2024; $483 million of debt retired year-to-date in 2024

▪Produced 1.7 million attributable gold ounces, primarily driven by production of 1.4 million gold ounces from Newmont's Tier 1 Portfolio5, as well as 430 thousand gold equivalent ounces (GEOs)6 from copper, silver, zinc, and lead, including 37 thousand tonnes of copper

▪Generated $1.6 billion of cash from operating activities, net of working capital changes of $(209) million; reported $760 million in Free Cash Flow7

▪Reported Net Income of $924 million, Adjusted Net Income (ANI) of $0.81 per diluted share and Adjusted EBITDA of $2.0 billion7

▪Achieved $500 million annual synergy run-rate following the Newcrest acquisition, reaching Newmont's commitment more than a year ahead of schedule8

▪Positioned to meet Newmont's 2024 production guidance; expect to deliver attributable production of 1.8 million gold ounces at an All-In Sustaining Cost (AISC) of $1,475 per ounce in the fourth quarter9

▪Partnered with MKS PAMP to launch a traceable mine-to-market gold bar; for sale through the largest U.S. wholesaler, providing consumers direct access to Newmont's gold and demonstrating a commitment to transparent sourcing

1 Newmont’s actual condensed consolidated financial results remain subject to completion and final review by management and external auditors for the quarter ended September 30, 2024. Newmont intends to file its Q3 2024 Form 10-Q on or about the close of business on October 24, 2024. See notes at the end of this release and cautionary statement regarding forward-looking statements.

2 Total returns to shareholders includes $302 million of shares repurchased in October 2024.

3 The share repurchase program will be executed at the Company’s discretion, utilizing open market repurchases to occur from time to time throughout authorization period, See cautionary statement regarding forward looking statements at end of this release.

4 Newmont's Board of Directors declared a dividend of $0.25 per share of common stock for the third quarter of 2024, payable on December 23, 2024 to holders of record at the close of business on November 27, 2024.

5 See cautionary statement and notes at the end of this release for definition of Tier 1 Portfolio

6 Gold equivalent ounces (GEOs) calculated using Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.), and Zinc ($1.20/lb.) pricing for 2024.

7 Non-GAAP metrics; see reconciliations at the end of this release.

8Synergies are a management estimate provided for illustrative purposes and should not be considered a GAAP or non-GAAP financial measure. Synergies represent management’s combined estimate of pre-tax synergies, supply chain efficiencies and Full Potential improvements, as a result of the integration of Newmont’s and Newcrest’s businesses that have been monetized for the purposes of the estimation. Such estimates are necessarily imprecise and are based on numerous judgments and assumptions. See cautionary statement at the end of this release regarding forward-looking statements.

9 See discussion of outlook and cautionary statement at the end of this release regarding forward-looking statements.

Attributable gold production1 increased 4 percent to 1,668 thousand ounces from the prior quarter primarily due to higher production at Cerro Negro from a full quarter of resumed operations following the completion of the investigation into the tragic fatalities of two members of the Newmont workforce in the second quarter. Third quarter production also benefited from higher throughput at Brucejack, higher mill utilization at Ahafo following the girth gear replacement during the second quarter and improved production at Yanacocha primarily driven by the benefits of injection leaching.

Fourth quarter production is expected to be the highest of the year driven primarily by improved grades at Peñasquito and Tanami, improved throughput at Lihir after the expected completion of the planned autoclave maintenance and sequential improvements delivered from our non-managed joint venture operation at Nevada Gold Mines.

Average realized gold price was $2,518, an increase of $171 per ounce over the prior quarter. Average realized gold price includes $2,488 per ounce of gross price received, a favorable impact of $34 per ounce mark-to-market on provisionally-priced sales and reductions of $4 per ounce for treatment and refining charges.

Gold CAS2 totaled $1.9 billion for the quarter. Gold CAS per ounce3 increased 5 percent to $1,207 per ounce compared to the prior quarter primarily due to higher direct costs at Lihir, as a result of planned autoclave maintenance, as well as higher direct operating costs primarily due to increased contract services across the portfolio.

Gold AISC per ounce3 increased 3 percent to $1,611 per ounce compared to the prior quarter primarily due to higher CAS.

Attributable gold equivalent ounce (GEO) production from other metals decreased 10 percent to 430 thousand ounces from the prior quarter due to lower production at Peñasquito as a result of lower co-product grades.

CAS from other metals2 totaled $418 million for the quarter. CAS per GEO3 increased 21 percent from the prior quarter to $1,015 per ounce due to higher costs allocated to co-products at Peñasquito, Cadia, and Red Chris, as well as the impact of the shutdown at Telfer due to the tailings remediation work.

AISC per GEO3 increased 11 percent to $1,338 per ounce compared to the prior quarter primarily due to higher CAS from other metals, partially offset by lower treatment and refining costs.

Net income attributable to Newmont stockholders was $922 million or $0.80 per diluted share, an increase of $69 million from the prior quarter primarily due to higher average realized gold prices and higher sales volumes, partially offset by higher unit costs of production, as well as a loss on assets held for sale of $115 million recognized in the third quarter compared to $246 million recognized in the second quarter of 2024.

Adjusted net income4 was $936 million or $0.81 per diluted share, compared to $834 million or $0.72 per diluted share in the prior quarter. Primary adjustments to third quarter net income include a loss on assets held for sale of $115 million primarily related to Telfer and Havieron, reclamation and remediation charges of $33 million, a gain on asset and investment sales of $28 million, Newcrest transaction and integration costs of $17 million, a loss on the fair value of investments of $17 million and a gain of $15 million on the partial redemption of certain Senior Notes.

Adjusted EBITDA4 remained in line with the prior quarter at $2.0 billion.

Consolidated cash from operations before working capital5 increased 11 percent from the prior quarter to $1.8 billion primarily due to higher realized gold prices in the third quarter.

Consolidated net cash from operating activities increased 17 percent from the prior quarter to $1.6 billion primarily due to the improvement in cash from operations. Net cash from operating activities in the third quarter was impacted by a $209 million reduction in operating cash flow due to changes in working capital, including a build in inventory of $202 million mainly due to Lihir and Telfer, and reclamation spend of $107 million, primarily related to the construction of the Yanacocha water treatment facilities. These unfavorable working capital changes were partially offset by favorable timing of accrued liability payments.

Free Cash Flow7 increased 28 percent from the prior quarter to $760 million primarily due to improvements in consolidated net cash from operating activities including reduced working capital impacts, partially offset by higher capital expenditures.

Capital expenditures (net of capital accruals)6 increased 10 percent from the prior quarter to $877 million. Sustaining capital spend increased from the second quarter due to the timing of project spend at Ahafo, Tanami, Boddington, and Lihir. Development capital expenditures in 2024 primarily relate to Tanami Expansion 2, Ahafo North, Cadia Panel Caves, and Cerro Negro expansion projects.

Balance sheet and liquidity remained strong in the third quarter, ending with $3.0 billion of consolidated cash and cash of $86 million included in Assets held for sale, with approximately $7.1 billion of total liquidity; reported net debt to adjusted EBITDA of 0.9x8.

Non-Managed Joint Venture and Equity Method Investments9

Nevada Gold Mines (NGM) attributable gold production decreased 4 percent to 242 thousand ounces, with a 7 percent increase in CAS to $1,311 per ounce3. AISC was largely in line with the prior quarter at $1,675 per ounce3.

Pueblo Viejo (PV) attributable gold production increased 25 percent to 66 thousand ounces compared to the prior quarter. Cash distributions received for the Company's equity method investment in Pueblo Viejo totaled $37 million in the third quarter. Capital contributions of $12 million were made during the quarter related to the expansion project at Pueblo Viejo.

Fruta del Norte attributable gold production is reported on a quarter lag. Production reported in the third quarter of 2024 increased 23 percent to 43 thousand ounces compared to the prior quarter. Cash distributions received from the Company's equity method investment in Fruta del Norte were $15 million for the third quarter.

1 Attributable gold production includes ounces from the Company's equity method investment in Pueblo Viejo (40%) and in Lundin Gold (31.9%).

2 Consolidated Costs applicable to sales (CAS) excludes Depreciation and amortization and Reclamation and remediation.

3 Non-GAAP measure. See end of this release for reconciliation to Costs applicable to sales.

4 Non-GAAP measure. See end of this release for reconciliation to Net income (loss) attributable to Newmont stockholders.

5 Cash from operations before working capital is a non-GAAP metric with the most directly comparable GAAP financial metric being to Net cash provided by (used in) operating activities, as shown reconciled in the Condensed Consolidated Statements of Cash Flows.

6 Capital expenditures refers to Additions to property plant and mine development from the Consolidated Statements of Cash Flows.

7 Non-GAAP measure. See end of this release for reconciliation to Net cash provided by operating activities.

8 Non-GAAP measure. See end of this release for reconciliation.

9 Newmont has a 38.5% interest in Nevada Gold Mines, which is accounted for using the proportionate consolidation method. In addition, Newmont has a 40% interest in Pueblo Viejo, which is accounted for as an equity method investment, as well as a 31.9% interest in Lundin Gold, who wholly owns and operates the Fruta del Norte mine, which is accounted for as an equity method investment on a quarter lag.

Cadia Panel Caves (Australia) includes two panel caves expected to extract approximately 5.9 million ounces of gold reserves as well as 1.3 million tonnes of copper reserves1.

•Panel Cave 2-3 (PC2-3) is expected to produce 1.0 million ounces of gold and more than 400 thousand tonnes of copper over its ten-year cave life (2024 - 2034). During peak production (2027 - 2032), PC2-3 is expected to ramp up to deliver between 100 and 150 thousand ounces of gold per year, and between 40 and 60 thousand tonnes of copper per year. First ore was delivered during the fourth quarter of 2023 and cave establishment was achieved during the third quarter of 2024. Total capital cost for PC2-3 is estimated to be between $1.0 and $1.2 billion, which includes more than $900 million spent by Newcrest prior to the acquisition by Newmont in November 2023. Development capital spend by Newmont is estimated to be between $150 to $250 million and continue until the last drawbell is fired expected to be in the second half of 2026. Development capital invested (excluding capitalized interest) since acquisition is $49 million, of which $38 million related to 2024.

•Panel Cave 1-2 (PC1-2) is expected to produce 4.0 million ounces of gold and more than 700 thousand tonnes of copper over its fifteen year cave life (2027 - 2042). During peak production (2030 - 2040), PC1-2 is expected to ramp up to deliver between 275 and 325 thousand ounces of gold per year, and between 35 and 55 thousand tonnes of copper per year. The PC1-2 project is currently under review and a more fulsome update on the project's opportunities and metrics is expected to be provided in 2025. Development capital invested (excluding capitalized interest) since acquisition is $148 million, of which $123 million related to 2024.

•In line with the development of the Cadia Panel Caves, Newmont's current focus is on maximizing existing tailings capacity, repairing the south wall of the Northern Tailings Facility and delivering the Southern Tailings lift. Newmont is undertaking long-term planning and design of its facilities to ensure that the tailings storage facilities are able to support the long mine life of Cadia. This work is intended to create capacity for the development of PC2-3, PC1-2, and future caves, setting up the next several decades of ore feed at Cadia.

Since mines operate for a finite period, careful closure planning is crucial to address the diverse social, economic, environmental, and regulatory impacts associated with the end of mining operations. Newmont’s global Closure Strategy integrates closure planning throughout each operation’s lifespan, aiming to create enduring positive and sustainable legacies that last long after mining ceases. Newmont continues to accrue to reclamation and remediation spend through the year. With $273 million in reclamation spent year to date, we anticipate an additional $225 million to be spent in the fourth quarter of 2024, primarily related to the construction of two new water treatment plants and post-closure management at Yanacocha. The operation’s ongoing closure planning study advanced to the feasibility state in December 2023 and continues to address several complex closure issues, including water management, social impacts and tailings. A long-term water management solution will replace five existing water treatment facilities with two, addressing the watersheds along the continental divide. Certain estimated costs remain subject to revision as ongoing study work and assessment of opportunities that incorporates the latest design considerations remain in progress.

1 PC2-3 and PC1-2 are subsets of Cadia’s total Mineral Reserves, please refer to Newmont’s 10-K for the total Mineral Reserves and Mineral Resources at Cadia for the year ended December 31, 2023, filed with the SEC on February 29, 2024. Project estimates remain subject to change based upon uncertainties, including future market conditions, macroeconomic and geopolitical conditions, changes in interest rates, inflation, commodities and raw materials prices, supply chain disruptions, labor markets, engineering and mine plan assumptions, future funding decisions, consideration of strategic capital allocation, and other factors, which may impact estimated capital expenditures, AISC, and timing of projects. Please see the cautionary statement at the end of this release for additional information regarding forward-looking statements.

Please see the cautionary statement and footnotes for additional information.

aCo-product metal pricing assumptions in imperial units equate to Copper ($4.00/lb.), Lead ($0.95/lb.), and Zinc ($1.20/lb.).

bConsolidated basis

c The adjusted tax rate excludes certain items such as tax valuation allowance adjustments.

d Assuming average prices of $2,500 per ounce for gold, $4.00 per pound for copper, $28.00 per ounce for silver, $0.95 per pound for lead, and $1.20 per pound for zinc and achievement of production, sales and cost estimates, Newmont estimates its consolidated adjusted effective tax rate related to continuing operations for the fourth quarter of 2024 will be 34%.

(1)Attributable gold ounces sold excludes ounces related to the Pueblo Viejo mine, which is 40% owned by Newmont and accounted for as an equity method investment, and the Fruta del Norte mine, which is wholly owned by Lundin Gold whom the Company holds a 31.9% interest and is accounted for as an equity method investment.

(2)For the three months ended September 30, 2023, Peñasquito had no production due to the Peñasquito labor strike. Sales activity recognized in the third quarter of 2023 at Peñasquito is related to adjustments on provisionally priced concentrate sales subject to final settlement. As such, the per ounce metrics are not meaningful ("N.M.") for the current quarter.

(3)Represents attributable gold from Newmont's 40% interest in Pueblo Viejo, which is accounted for as an equity method investment. Attributable gold ounces produced at Pueblo Viejo are not included in attributable gold ounces sold, as noted in footnote (1). Income and expenses of equity method investments are included in Equity income (loss) of affiliates.

(4)Represents attributable gold from Newmont's 31.9% interest in Lundin Gold, who wholly owns and operates the Fruta del Norte mine, which is accounted for on a quarterly-lag as an equity method investment. Attributable gold ounces produced by Lundin Gold represent prior quarter production and are not included in attributable gold ounces sold, as noted in footnote (1). Income and expenses of equity method investments are included in Equity income (loss) of affiliates.

(5)Sites are classified as held for sale as of September 30, 2024.

(6)For the three months ended September 30, 2024, Telfer production was impacted due to the suspension of operations as a result of remediation work on the tailings storage facility. Production resumed at the end of the third quarter. Consequently, unit cost metrics for gold and copper are not meaningful ("N.M").

(7)Non-GAAP measure. See end of this release for reconciliation.

(1)Certain amounts and disclosures in the prior year have been reclassified to conform to the current year presentation.

(2)Excludes Depreciation and amortization and Reclamation and remediation.

(3)For the three months and year ended December 31, 2023, potentially dilutive shares were excluded in the computation of diluted loss per common share attributable to Newmont stockholders as they were antidilutive.

(1)Certain amounts and disclosures in the prior year have been reclassified to conform to the current year presentation.