Newmont Corporation · NYSE:NEM
Newmont — Q3 2026 Earnings Presentation
25 slides from Newmont's earnings presentation, Oct 22, 2026
Slide 1: Third Quarter 2026 Results
Third Quarter 2026 Results OCTOBER 22, 2026
Slide 2: Cautionary Statement Regarding Forward Looking Statements, Including Guidance Assumptions, and Notes
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
Slide 3: Q3 2026 Highlights
Q3 2026 Highlights On track to meet full year 2026 guidance Gold Production1 Free Cash Flow2 Returns to Shareholders3 Adjusted Net Income2 1.3 Moz $1.9 B $1.9 B $2.20 /share 23kt of copper and 11Moz of Generating robust free cash flow Through quarterly common dividends Record third-quarter silver fr
Slide 4: Third Quarter Project Updates
Third Quarter Project Updates Projects in execution advancing as planned across portfolio Tanami Expansion 2 Cadia Panel Caves Lihir Nearshore Barrier 1.5km deep production shaft, Two caves to recover over 5.0Moz of gold increasing productivity and improving efficiency reserves and 1.0Mtonnes copper
Slide 5: Red Chris Block Cave Endowment with 70-Year Mine Life Potential
Red Chris Block Cave Endowment with 70-Year Mine Life Potential Fully permitted brownfield extension in premier mining jurisdiction Initial Phase1 Subsequent Phase Future Phase District Potential 3.0Moz Gold Growth study Long-term growth Exploration 850Kt Copper underway potential Upside Macro Block
Slide 6: Red Chris Block Cave Initial Phase
Red Chris Block Cave Initial Phase Golden Triangle District A rare combination of gold-copper scale, quality & growth potential in Golden Triangle ▪ Finalizing feasibility study1, full funds decision expected in early 2027 ▪ Technically and commercially robust development plan with mature engineerin
Slide 7: Third Quarter Financial Performance
Third Quarter Financial Performance Operational excellence continues to drive strong financial results ADJUSTED GAAP ADJUSTED AVERAGE REALIZED EBITDA NET INCOME NET INCOME GOLD PRICE $4.0B $2.35/sh. $2.20 /sh. $4,317/oz CASH FROM FREE CASH & CASH GOLD ALL-IN OPERATIONS CASH FLOW EQUIVALENTS SUSTAINI
Slide 8: Delivering on Consistent Capital Allocation Framework
Delivering on Consistent Capital Allocation Framework1 Disciplined, sustainable returns through the commodity and investment cycles Q3 2026 TARGETS $1.95B Constant through the cycle Sustaining Capital2 $525M Expected 2026 Spend On track to meet full year guidance with spend expected to be highest in
Slide 9: On Track to Achieve 2026 Guidance
On Track to Achieve 2026 Guidance1 (+/- 5%) Full Year 2026 Guidance Q4 2026 Guidance Performance Drivers Attributable Gold Production2 5.3Moz 1.4Moz Strong portfolio execution and improving second-half performance support delivery of full-year production guidance Gold CAS3 Improved 2026 guidance as
Slide 10: Executing with Discipline, Delivering Results
Executing with Discipline, Delivering Results Well positioned to deliver production growth, strong cash generation and consistent shareholder returns, supported by a world class portfolio and disciplined execution On Track to Achieve 2026 Guidance Stable third quarter production and cost performance
Slide 11: Appendix
Appendix THIRD QUARTER 2026 RESULTS NEWMONT CORPORATION 11 11
Slide 12: Third Quarter Operational Performance
Third Quarter Operational Performance Leveraging a strong foundation to advance near-term production growth ▪ Delivered higher QoQ production, ▪ Delivered consistent ounces in Q3 as ▪ Slightly lower Q3 production reflected supported by improved UG ramp-up continues for the first full year planned ma
Slide 13: Capital Allocation Framework
Capital Allocation Framework1 Disciplined, sustainable returns through the commodity and investment cycles Net Cash from Operations Net cash provided by operations including net changes in working capital (including reclamation spend) ▪ Ongoing investment in world-class portfolio to $1.95B Constant
Slide 14: Direct Operating Costs by Category
Direct Operating Costs by Category1 Assumptions for 2026 guidance as of February 19, 2026 4% Other 7% 4% Chemicals, Other 25% 6% Reagents, & 6% Newmont Liners & Wear Explosives Diesel Employees Parts 50% 30% 15% Materials & Fuel & Energy Labor Costs Consumables Costs 25% 6% Contracted Maintenance 7%
Slide 15: Basis for 2026 Guidance
Basis for 2026 Guidance Pricing Assumptions and Sensitivities (as of February 19, 2026) Revenue & Cost Assumption Change (-/+) Impacts ($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 Impac
Slide 16: 2026 Consolidated Expense and Capital Guidance
2026 Consolidated Expense and Capital Guidance Guidance Metric (+/-5%) 2026E Q4 2026E Total Newmont Sustaining Capital(1)(2) ($M) $1,950 $600 Total Newmont Development Capital (2) $1,400 $520 (1) Sustaining capital is presented on an attributable basis. Capitalized Interest ($M) $175 - (2) Capital g
Slide 17: Non-GAAP Reconciliations & Endnotes
Non-GAAP Reconciliations & Endnotes THIRD QUARTER 2026 RESULTS NEWMONT CORPORATION 17 17
Slide 18: Gold All-in Sustaining Costs - 2026 Guidance
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
Slide 19: Free cash flow
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 regar
Slide 20: Adjusted net income (loss)
Adjusted net income (loss) Net income (loss) attributable to Newmont stockholders is reconciled to Adjusted net income (loss) as follows: (1) Per share measures may not recalculate due to rounding. Three Months Ended Nine Months Ended (2) Represents revisions to reclamation and remediation plans at
Slide 21: All-in Sustaining Costs
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 e
Slide 22: All-in Sustaining Costs
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 e
Slide 23: EBITDA and Adjusted EBITDA
EBITDA and Adjusted EBITDA Net income (loss) attributable to Newmont stockholders is reconciled to EBITDA and Adjusted EBITDA as follows: Three Months Ended Nine Months Ended September 30, September 30, (1) Represents revisions to reclamation and remediation plans at the Company's former 2026 2025 2
Slide 24: Endnotes
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 re
Slide 25: Endnotes
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