Newmont Reports Third Quarter 2026 Results with Record Third Quarter Adjusted Net Income; Positioned to Achieve Full-Year Guidance; Provides Update on Red Chris Block Cave Project

Share repurchases totaled $1.6 billion since the last earnings call, with $2.8 billion remaining under the current authorization.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

DENVER--(BUSINESS WIRE)-- Newmont Corporation (NYSE: NEM, ASX: NEM, PNGX: NEM) (Newmont or the Company) today announced third quarter 2026 results and declared a dividend of $0.26¹ per share.

"Newmont remains on track to achieve our full-year 2026 production guidance and improved full-year cost outlook, supported by disciplined operational execution in the third quarter, demonstrating the strength and resilience of our world-class portfolio," said Natascha Viljoen, Newmont's President and Chief Executive Officer. "We produced approximately 1.3 million attributable gold ounces, and generated $1.9 billion of free cash flow. Since our last earnings call, we have returned $1.9 billion to shareholders through quarterly dividends and share repurchases, contributing to an approximate 10% reduction in our total share count since February 2024, reflecting our commitment to creating long-term value for our shareholders on a per-share basis.”

Q3 2026 Results

• On track to meet Newmont's full-year 2026 production guidance² of 5.3 million attributable gold ounces; produced 1.3 million attributable gold ounces, as well as 11 million ounces of silver and 23 thousand tonnes of copper, primarily from Newmont's managed operations
• Gold by-product Costs Applicable to Sales (CAS) was $832 per ounce and All-In Sustaining Costs (AISC) was $1,454 per ounce³; improved full-year cost guidance to $925 and $1,520 per ounce, respectively²
• Reported Net Income of $2.5 billion, Adjusted Net Income (ANI)³ of $2.3 billion or $2.20 per diluted share, and Adjusted EBITDA³ of $4.0 billion
• Generated $2.8 billion of cash from operating activities, net of working capital impacts of $565 million; reported third quarter Free Cash Flow³ of $1.9 billion
• Delivered $1.9 billion of shareholder returns through share repurchases and dividend payments since the last earnings call⁴; declared a dividend of $0.26 per share of common stock for the third quarter of 2026
• Through the date of filing, Newmont has repurchased $1.6 billion of common stock since the last earnings call⁴; $2.8 billion remains under the current authorized program of $6.0 billion⁵
• Since February 2024, Newmont has reduced its share count by over 115 million shares, or approximately 10 percent of shares outstanding, increasing shareholders' exposure to the free cash flow generated by its portfolio and creating a pathway for per-share dividend growth over time
• Ended the quarter with $8.8 billion of cash and $12.8 billion in total liquidity⁶, with a net cash position of $3.2 billion³
• Announced an amended agreement for the Nevada Gold Mines Joint Venture (NGM) to include the contribution of previously excluded assets including Barrick's Fourmile and Newmont's Fiberline and Mike
• Advancing the Red Chris Block Cave towards a full-funds investment decision in early 2027; finalizing feasibility study, subject to review and governance oversight; provided update on key project metrics and timeline⁷
• Completed shaft construction at Tanami Expansion 2; advancing project ahead of schedule, with commercial production now expected in the first half of 2027⁷

_________________________

1 Newmont's Board of Directors declared a dividend of $0.26 per share of common stock for the third quarter of 2026, payable on December 21, 2026 to holders of record at the close of business on November 25, 2026.

2 For further details see the '2026 Guidance Expectations' section below, as well as the discussion of guidance and cautionary statement at the end of this release regarding forward-looking statements.

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

4 Includes $1.6 billion of share repurchases since July 23, 2026, including approximately $451 million of share repurchases in October 2026.

5 The share repurchase program will be executed at the Company's discretion. The share repurchase program permits shares to be repurchased in a variety of methods, has no time limit and may be suspended or discontinued at any time. See cautionary statement regarding forward-looking statements at end of this release.

6 Total liquidity as of September 30, 2026 includes $4.0 billion available on a revolving credit facility.

7 For further details see the 'Projects Update' section below, as well as the cautionary statement at the end of this release regarding forward-looking statements.

Delivering on Newmont's Consistent Capital Allocation Framework

Newmont's consistent capital allocation framework is designed to be sustainable through the commodity and investment cycles while maximizing total return of capital to shareholders, maintaining a flexible and resilient balance sheet, and focusing on high-return capital investments for long-term value creation. The capital allocation uses below are presented in order of priority.¹ Newmont is consistently delivering on these priorities, supported by the robust free cash flow generated to date in 2026.

Ongoing Sustaining Capital Investment in World-Class Portfolio

Newmont expects to spend $1.95 billion in 2026 in sustaining capital through targeted investments in critical infrastructure, including tailings solutions, as detailed in the '2026 Guidance Expectations' section below. As of the end of the third quarter, Newmont has invested $1.33 billion of sustaining capital in 2026, with full-year 2026 guidance remaining unchanged.²

Sustainable Through the Cycle Cash Dividend

Newmont is committed to returning capital to shareholders through a sustainable cash dividend of $1.1 billion per year. Central to this framework is a dividend structured to grow on a per-share basis without increasing Newmont's financial commitment, as share repurchases executed through the cycle permanently lower the outstanding share count. The annual total per share dividend target will be calculated annually in February based on the current number of 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 on a quarterly basis, subject to quarterly approval by Newmont's Board of Directors¹. In line with this commitment, a dividend of $0.26 per share for the third quarter of 2026 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. This equates to an indicated total annualized dividend of $1.04 per share, with continued per-share dividend increases expected as share repurchases continue.

Disciplined Approach to Development Capital Reinvestment

Newmont expects to invest $1.4 billion of development capital in 2026 as it advances the highest-return free cash flow generative projects, while continuing to study, evaluate and define the future growth profile of its portfolio. As of the end of the third quarter, Newmont has invested $878 million in its current development projects in 2026, with full-year 2026 guidance remaining unchanged.²

Maintaining an Optimized Capital Structure Through the Cycle

Newmont is focused on maintaining a resilient balance sheet, anchored by a $1 billion net cash target³, with flexibility of plus or minus $2 billion depending on market conditions. During strong commodity price environments, Newmont intends to further optimize its balance sheet by actively managing gross debt, while maintaining a minimum cash balance of $5 billion through the cycle. Newmont ended the third quarter of 2026 with a cash balance of $8.8 billion and a net cash balance of $3.2 billion³, before the planned payment of $1.95 billion to Barrick under the terms of the amended NGM agreement, which is expected to be paid in the fourth quarter.

Ratable Share Repurchase Program

Since the last earnings call, Newmont executed $1.6 billion of share repurchases, with $2.8 billion remaining under the current repurchase authorization of $6.0 billion. Newmont intends to request additional approval from its Board of Directors as the current authorization approaches completion, consistent with the Company's disciplined and repeatable approach to returning excess cash to shareholders.

___________________________________

1 See cautionary statement at the end of this release. 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. An annualized dividend has not been declared by the Board of Directors.

2 Capital expenditures are shown on an attributable basis, exclusive of capitalized interest, and therefore will not directly agree to Additions to property plant and mine development from the Condensed Consolidated Statements of Cash Flows.

3 Net cash balance is Cash and cash equivalents less Debt and Lease and other financing obligations as presented on the Consolidated Balance Sheets. Net cash balance will change based on Net cash provided by operating activities, Additions to property, plant and mine development, dividends paid to common shareholders, repayment of debt principal, and other investing and financing activities. Refer to the Net Debt reconciliation below in the Non-GAAP Financial Measures schedules in this release.

Summary of Results

		2025											2026
		Q1		Q2		Q3		Q4		FY			Q1		Q2		Q3		YTD
Average realized gold price ($/oz)		$	2,944	$	3,320	$	3,539	$	4,216	$	3,498		$	4,900	$	4,414	$	4,317	$	4,546
Attributable gold production (Moz) (1)			1.54		1.48		1.42		1.45		5.89			1.30		1.29		1.30		3.90
Total CAS ($M) (2)		$	2,106	$	2,001	$	1,951	$	2,027	$	8,085		$	1,937	$	2,088	$	2,143	$	6,168
Gold By-Product CAS ($/oz) (2)(3)		$	930	$	917	$	831	$	738	$	855		$	541	$	1,043	$	832	$	803
Gold Co-Product CAS ($/oz) (2)(3)		$	1,227	$	1,215	$	1,185	$	1,166	$	1,199		$	1,307	$	1,463	$	1,449	$	1,406
Gold By-Product AISC ($/oz) (3)		$	1,447	$	1,375	$	1,303	$	1,302	$	1,358		$	1,029	$	1,621	$	1,454	$	1,365
Gold Co-Product AISC ($/oz) (3)		$	1,651	$	1,593	$	1,566	$	1,620	$	1,609		$	1,709	$	1,938	$	1,963	$	1,869
Net income (loss) attributable to Newmont stockholders ($M)		$	1,891	$	2,061	$	1,832	$	1,301	$	7,085		$	3,262	$	2,202	$	2,475	$	7,939
Net income (loss) attributable to Newmont stockholders per share ($/diluted share)		$	1.68	$	1.85	$	1.67	$	1.19	$	6.39		$	3.00	$	2.06	$	2.35	$	7.43
Adjusted net income ($M) (4)		$	1,404	$	1,594	$	1,883	$	2,753	$	7,634		$	3,156	$	2,246	$	2,309	$	7,711
Adjusted net income per share ($/diluted share) (4)		$	1.25	$	1.43	$	1.71	$	2.52	$	6.89		$	2.90	$	2.10	$	2.20	$	7.22
Adjusted EBITDA ($M) (4)		$	2,629	$	2,997	$	3,309	$	4,545	$	13,480		$	5,154	$	3,757	$	3,951	$	12,862
Cash from operations before working capital ($M) (5)		$	2,172	$	2,228	$	2,584	$	3,560	$	10,544		$	3,987	$	3,014	$	3,333	$	10,334
Net cash from operating activities ($M)		$	2,031	$	2,384	$	2,298	$	3,621	$	10,334		$	3,785	$	2,924	$	2,768	$	9,477
Sustaining capital expenditures ($M) (6)		$	446	$	370	$	380	$	509	$	1,705		$	376	$	432	$	525	$	1,333
Development capital expenditures ($M) (6)		$	299	$	307	$	308	$	287	$	1,201		$	239	$	285	$	354	$	878
Total capital expenditures ($M) (6)		$	745	$	677	$	688	$	796	$	2,906		$	615	$	717	$	879	$	2,211
Free cash flow ($M) (7)		$	1,205	$	1,710	$	1,571	$	2,813	$	7,299		$	3,144	$	2,205	$	1,912	$	7,261

Third Quarter 2026 Production and Financial Summary

Attributable gold production¹ increased slightly by 1 percent to 1,302 thousand ounces from the prior quarter, driven by higher production at Cadia after the recovery from the seismic event in the second quarter, higher production at Brucejack due to ongoing productivity improvements and increased development rates, and higher throughput, grades and recovery rates at Peñasquito. These benefits were largely offset by lower production at Lihir and Boddington due to planned mine maintenance and at Yanacocha due to mine plan sequencing. Consolidated gold sales were 1,211 thousand ounces for the quarter.

Copper production increased 35 percent to 23 thousand tonnes compared to the prior quarter, driven by higher production at Cadia after the recovery from the seismic event in the second quarter. Silver production increased 57 percent to 11 million ounces, lead production increased 22 percent to 22 thousand tonnes and zinc production increased 68 percent to 67 thousand tonnes compared to the prior quarter, driven by higher co-product grades at Peñasquito.

Average realized gold price was $4,317 per ounce, a decrease of $97 per ounce from the prior quarter. Average realized gold price includes a gross sales price of $4,291 per ounce and a favorable mark-to-market adjustment of $26 per ounce on provisionally-priced sales.

Costs Applicable to Sales (CAS)² allocated to gold totaled $1.8 billion for the quarter, with an additional $389 million allocated to co-product metals. Gold by-product CAS per ounce³ decreased 20 percent to $832 for the quarter primarily driven by higher gold and co-product volumes, as well as higher realized copper pricing. These decreases were partially offset by lower silver pricing and higher diesel prices. Gold co-product CAS per ounce³ was $1,449.

Gold by-product AISC per ounce³ decreased 10 percent to $1,454 for the quarter. Building from CAS per ounce, the decrease was primarily due to lower other expense, primarily related to incremental costs incurred at Cadia in the second quarter, partially offset by higher sustaining capital spend. Gold co-product AISC per ounce³ was $1,963.

Net income attributable to Newmont stockholders was $2.5 billion or $2.35 per diluted share, an increase of $0.3 billion from the prior quarter. This increase was primarily driven by higher revenue due to higher gold sales volumes and higher realized copper prices, as well as a decrease of $113 million in income and mining tax expense.

Adjusted net income⁴ for the quarter was $2.3 billion or $2.20 per diluted share, an increase of 3 percent from the prior quarter. Primary adjustments to third quarter net income include reclamation and remediation charges of $116 million and a gain on asset and investment sales of $40 million primarily related to a historical mining site that was in the closure phase.

Consolidated cash from operations before working capital⁵ increased 11 percent from the prior quarter to $3.3 billion primarily due to higher revenue from higher gold sales volumes and higher realized copper prices, partially offset by lower realized gold and silver prices and slightly higher CAS.

Consolidated net cash from operating activities decreased 5 percent from the prior quarter to $2.8 billion primarily due to an unfavorable change in working capital of $475 million. Working capital was a net use of cash of $565 million in the third quarter, reflecting an unfavorable accounts receivable movement of $318 million, continued cash spend for previously accrued reclamation activities of $256 million and normal course inventory and stockpile builds of $172 million. These impacts were partially offset by a favorable change in other accrued liabilities of $165 million primarily related to the timing of employee profit sharing payments in Mexico and Peru, and accrued tax liabilities of $29 million.

Income and mining cash tax paid decreased 21 percent from the prior quarter to $858 million due to the timing of annual tax payments accrued in 2025.

Free cash flow⁷ decreased 13 percent from the prior quarter to $1.9 billion primarily due to a decrease in net cash provided by operating activities and higher capital investment.

Balance sheet and liquidity remained strong in the third quarter, ending with $8.8 billion of cash and cash equivalents, with $12.8 billion of total liquidity; ended the quarter in a net cash position of $3.2 billion.⁸ The balances as of the end of the third quarter are before the planned payment of $1.95 billion to Barrick under the terms of the amended NGM agreement, which is expected to be paid in the fourth quarter of 2026.

Non-Managed Joint Venture and Equity Method Investments⁹

Nevada Gold Mines (NGM) attributable gold production increased 5 percent to 251 thousand ounces, with a 5 percent decrease in CAS per ounce to $1,392 per ounce.³ AISC per ounce decreased 2 percent from the prior quarter to $1,760 per ounce.³

Pueblo Viejo attributable gold production decreased 12 percent to 65 thousand ounces compared to the prior quarter. Cash distributions received for the Company's equity method investment in Pueblo Viejo totaled $95 million in the third quarter. Capital contributions of $24 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 2026 of 38 thousand ounces was consistent with the prior quarter. Cash distributions received from the Company's equity method investment in Fruta del Norte were $83 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 (32%).

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 measure being Net cash provided by (used in) operating activities, as shown reconciled in the Condensed Consolidated Statements of Cash Flows.

6 Capital expenditures are shown on an attributable basis, exclusive of capitalized interest, and therefore will not directly agree to Additions to property plant and mine development from the Condensed 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 32% interest in Lundin Gold, which wholly owns and operates the Fruta del Norte mine, which is accounted for as an equity method investment on a quarter lag.

2026 Guidance Expectations (+/-5%)

Newmont remains on track to meet its previously published 2026 production and capital guidance. Based on performance year to date, Newmont is improving its 2026 guidance for unit cost metrics. The improvement in unit costs is largely driven by Newmont's continued cost discipline and higher realized co-product pricing compared to guided assumptions. Please see the cautionary statement and footnotes for additional information.

Guidance Metric (+/-5%) (1)	2026E	Q4 2026E
Attributable Gold Production (Koz)	5,260	1,365
Gold By-Product CAS ($/oz) (2)	$925	$1,250
Gold By-Product AISC ($/oz) (2)	$1,520	$1,900
Sustaining Capital ($M) (3)	$1,950	$600
Development Capital ($M) (3)	$1,400	$520

Newmont expects total attributable gold production in the fourth quarter of 2026 to be the strongest quarter of the year, driven by several of its managed operations. Higher production is expected at Tanami driven by access to higher grade stopes, at Cerro Negro due to continued productivity improvements and mining at the Vein Zone open pit, and at Ahafo North as the operation continues to ramp-up production and begins to access higher grade ore. In addition, higher production is expected at Lihir as the site completed the planned maintenance shutdown in September and is positioned to access higher grade ore as planned. However, Newmont is closely monitoring the ongoing El Niño conditions impacting water supply at Lihir, which are forecasted to intensify through the remainder of this year. The severity and timing of these conditions and resulting drought may impact both production and costs at the site in the fourth quarter.

Although Newmont's full-year cost guidance has improved, unit costs are expected to increase in the fourth quarter primarily due to higher sustaining capital spend, as well as lower co-product volumes. Notably, silver production at Peñasquito is expected to decline to approximately half of third quarter volume. Unit costs may also be impacted by continued inflationary pressures, including higher oil prices, and will continue to be sensitive to royalties driven by the gold price. Newmont has provided an enhanced oil price sensitivity for the indirect exposure through key consumables and inputs, which is expected to result in an additional approximate $50 million cost impact for every $10 change in price per barrel of oil. Please see the 'Assumptions and Sensitivities' section below for more details.

Sustaining and development capital spend are expected to be the highest of the year in the fourth quarter, with full-year 2026 guidance remaining unchanged. Working capital is expected to remain variable through the remainder of the year, as unfavorable accounts receivable and payable movements realized in the third quarter may partially reverse in future periods as production, shipment and collection patterns normalize.

Guidance Metric (+/-5%) (1)	2026E
Co-Product Production
Copper Production (ktonne)	102
Silver Production (Moz)	32
Lead Production (ktonne)	90
Zinc Production (ktonne)	220
Consolidated Expenses
Exploration & Advanced Projects ($M)	$525
General & Administrative ($M)	$375
Interest Expense ($M) (4)	$175
Depreciation & Amortization ($M)	$2,815
Reclamation and Remediation Accretion ($M)	$385
Adjusted Tax Rate (5)	33%
Capitalized Interest ($M)	$175

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. 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. See cautionary statement at the end of this release.

2 Presented on a consolidated basis and reflects an assumed metal price of 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), CAD:USD ($0.75), and USD:MXN ($17.00).

3 Capital guidance is presented on an attributable basis and excludes non-cash capitalized interest.

4 Interest expense guidance is net of capitalized interest.

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

2027 INDICATIONS

Newmont expects to return to production growth in 2027, with attributable gold production expected to increase by a low-to-mid single-digit percentage compared to 2026. As previously indicated, higher grade ore is expected to be accessed at Lihir due to ongoing mine optimization and at Boddington due to the completion of the waste stripping campaign by the end of 2026, as well as at Tanami with the anticipated commercial production of Tanami Expansion 2 in 2027. In addition, Yanacocha is expected to continue delivering low-cost ounces due to the extension of mining operations. Building from 2026, these contributions demonstrate the strength of the Newmont portfolio and provide a clear trajectory to production growth beyond 2027.

Newmont expects unit costs to trend higher in 2027 reflecting inflation escalation above the 3 percent assumption incorporated for 2026 guidance, as well as higher diesel prices, unfavorable foreign exchange movements, particularly related to the Australian dollar, and continued royalty sensitivities driven by the gold price. In addition, lower silver, lead and zinc production at Peñasquito in 2027 is expected to result in lower co-product credits. Although these factors may contribute to a more challenging cost environment, Newmont remains committed to rigorous cost discipline and ongoing productivity improvements across its global portfolio of operations.

Sustaining capital spend in 2027 is anticipated to be largely in line with 2026 levels, as Newmont continues to progress the tailings work at Cadia and Boddington. Development capital spend is expected to increase by approximately $500 million compared to 2026 as investment ramps up on the construction of the Lihir Nearshore Barrier and the Red Chris Block Cave project, pending a full-funds investment decision.¹ As previously indicated, approximately $200 million of this increase is expected to be funded through the reallocation of reclamation spend on the Yanacocha water treatment plants, as the project nears completion in 2027.

Working capital is expected to remain variable in 2027. If gold prices stabilize, higher cash tax payments on previously accrued tax liabilities may negatively impact working capital and resulting free cash flow.

ASSUMPTIONS AND SENSITIVITIES¹

	Assumption	Change (+/-)	Revenue and Cost Impact ($M) (2)
Gold ($/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 (3)	$70.00	$10.00	$50
Copper ($/tonne) (4)	$11,023	$550	$60
Silver ($/oz) (5)	$60.00	$1.00	$25
Lead ($/tonne) (4)	$1,894	$220	$20
Zinc ($/tonne) (4)	$2,866	$220	$50

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. 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. See cautionary statement at the end of this release.

2 Impacts are presented on a pretax basis.

3 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.

4 Co-product metal pricing assumptions in imperial units equate to Copper ($5.00/lb.), Lead ($0.90/lb.) and Zinc ($1.30/lb.).

5 Silver revenue impact relates only to co-product silver revenue from Peñasquito, including the impact of the silver stream agreement.

Excluded from the sensitivity above is a royalty, production tax, and workers participation impact of approximately $6 per ounce for every $100 per ounce change in gold price.

________________________________________________

1Attributable capital indications for 2027 are presented on a gross basis excluding the impact of the grant expected from the Government of Canada related to the Red Chris Block Cave project.

Committed to Concurrent Reclamation

As 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 recognize reclamation and remediation expense throughout the year. In the nine months ended September 30, 2026, Newmont spent $714 million on reclamation activities, including $531 million on the construction of water treatment plants at Yanacocha. Newmont anticipates 2026 spending of approximately $850 million for the total portfolio and approximately $550 million on the Yanacocha water treatment plants. Total estimated spend on the Yanacocha water treatment plants is approximately $1.8 billion, with $1.3 billion spent to date. The two water treatment plants are approaching mechanical completion with commissioning underway and remain on track for completion in 2027. Total reclamation spend is expected to decrease sequentially by approximately $200 million per year through 2028.

Projects Update

PROJECTS IN EXECUTION

Newmont's 2026 guidance includes current development capital costs and production related to the key projects in execution at Tanami Expansion 2 and Cadia Panel Caves, as well as the mine life extensions at Lihir and Cerro Negro. As of the third quarter, Newmont has made several notable advancements on its projects in execution.

• Cadia PC2-3 (Australia) remains on track for completion by the end of 2026, with the final drawbell fired in September. The project is being transitioned to the Operations team, with all material development capital spend expected to be complete in the fourth quarter of 2026.
• Cadia PC1-2 (Australia) continues to advance on schedule, as cave establishment activities have resumed after receiving key regulatory approvals and requirements following the seismic event in April, allowing the project to continue advancing towards critical hydraulic radius.
• Tanami Expansion 2 (Australia) is progressing slightly ahead of schedule, with all shaft construction completed at the end of the third quarter. Commercial production is now expected towards the end of the first half of 2027, earlier than previously anticipated.

For further details on Newmont’s key projects currently in execution, refer to the Company’s Fourth Quarter 2025 Earnings and 2026 Guidance press release, issued on February 19, 2026, and available on Newmont.com. Please refer to the cautionary statement and footnotes for further information.

RED CHRIS BLOCK CAVE PROJECT^4,5

Initial Development Establishes Foundation for Potential 70-Year Gold-Copper Operation

The Red Chris Block Cave project is a rare, large-scale multi-decade gold-copper opportunity located in the Golden Triangle of British Columbia, Canada. The brownfield extension project is designed to mine the porphyry gold-copper system beneath the existing open pit and includes an underground block cave mine, expansion of existing processing facilities to 15 million tonnes per year, and upgrades to site infrastructure unlocking higher-grade mineralization at depth. Newmont has a 70 percent ownership interest in Red Chris and is advancing the project with the partnership and support of Imperial Metals, its joint venture partner. The feasibility study is nearing completion, subject to review and governance oversight, with a full-funds investment decision now expected in early 2027.

As the feasibility study nears completion, the project has already achieved several key milestones, including the receipt of amended regulatory approvals from the Province of British Columbia in June 2026 that enable the transition from open pit mining to block caving. The amended Environmental Assessment Certificate was achieved through a consent-based process with the Tahltan Nation, reflecting a shared commitment to responsible resource development, meaningful Indigenous participation and long-term benefits for local communities.

The Golden Triangle has been prioritized by both the Provincial Government of British Columbia and the Federal Government of Canada as a region of national importance. Critical minerals, Indigenous partnerships, clean energy infrastructure, and Northwest B.C. economic development have been identified as strategic priorities, resulting in enhanced policy support, regulatory attention, and infrastructure investment in the region. In July 2026, the Government of Canada announced a CAD$500 million contribution to support the project, reinforcing Red Chris as a nationally significant critical minerals project. The Red Chris Joint Venture is continuing to work with the Government of Canada to finalize the terms of the grant and expects to reach an agreement in the coming months.

The project is expected to benefit from several strategic advantages, including:

• Development in a leading, stable mining jurisdiction
• Expected to deliver double-digit IRR and aligns with Newmont's investment evaluation criteria⁵
• Expected to be one of Newmont's lowest cost operations over life-of-mine
• Tahltan Nation consent, the amended B.C. Environmental Assessment Certificate and major mine permits support the project’s regulatory and social foundations
• Existing mature operation, including processing facilities, tailings infrastructure, road access, camp facilities and site services
• Access to established port at Stewart, B.C. for exports and delivery of project materials
• Reliable access to clean, hydroelectric power supplied by B.C. Hydro, the provincial electricity utility
• Knowledge of the Red Chris orebody and mineralogy from current operations
• Newmont's global block cave expertise, including experience at Cadia
• Growth opportunities beyond the project, including additional macro blocks, East Ridge Resources and other deposits in the Golden Triangle District

___________________________________

1 Please refer to the cautionary statement and footnotes for further information regarding forward-looking statements.

2 Newmont owns 70% of the Red Chris Joint Venture, operates the project, and proportionally consolidates the project into its financial statements. Imperial Metals (TSX:III) owns 30% of the Red Chris Joint Venture. The feasibility study and a full-funds investment decision require approval of the Board of Directors of the Red Chris Joint Venture.

Key Project Metrics - Presented on a 100% Basis

Since 2023, Newmont has strengthened the project investment case and has shaped a more technically robust and commercially sound development plan. The feasibility study now reflects a more complete view of the investment requirements, schedule and production profile.

The first phase of the project is expected to produce 3.0 million ounces of gold and more than 850 thousand tonnes of copper over its initial thirteen-year cave life. Subject to approval by Newmont's Board of Directors and the Board of Directors of the Red Chris Joint Venture, construction of the Red Chris Block Cave is expected to commence in 2027, with commercial production targeted for 2033. The project is expected to ramp up to an average between 275 and 325 thousand ounces of gold per year, and between 65 and 85 thousand tonnes of copper per year between 2035 and 2040.

Total development capital for the project is currently estimated between $4.2 and $4.8 billion in real terms.⁶ The updated capital estimate reflects the latest development plan, updated productivity assumptions, and a more mature understanding of the infrastructure, schedule, and contingencies required to deliver the project. The capital estimate is net of the anticipated CAD$500 million contribution from the Government of Canada.⁷ Newmont expects to fund the capital investment through internal cash flows, reflecting its disciplined capital allocation framework and the strength and flexibility of its balance sheet.

The Red Chris mine has the potential for up to 70 years of mine life. The initial block cave project establishes the foundation for subsequent phased development, including additional macro blocks, the East Ridge, and other high confidence exploration targets, which are not included in the project metrics presented above. Forty percent of the planned upfront investment in processing facilities, material handling systems and other key infrastructure is expected to support potential future expansions, providing significant long-term optionality across the broader Golden Triangle district.

Newmont will continue to validate the underlying assumptions and execution plan as the feasibility study is finalized ahead of the anticipated full-funds investment decision in early 2027. An investment decision remains subject to the approval of the Red Chris Joint Venture Board of Directors.

___________________________________

3 Development capital estimates are presented on a 100% ownership basis, are stated in real terms, include contingency and are net of the anticipated CAD$500 million contribution from the Government of Canada. Estimates exclude costs to transition from open pit to block cave operations. U.S. dollar amounts are converted to Canadian dollars at US$0.75 = CAD$1.00, equating to an estimated range of CAD$5.6 and $6.4 billion. See cautionary statement regarding forward-looking statements.

4 Terms of the announced Government of Canada contribution are expected to be finalized before the end of 2026.

5 Evaluated across a range of economic scenarios, including gold at $3,600/oz and copper at $5.00/lb.

		2025																2026
Operating Results		Q1			Q2			Q3			Q4			FY				Q1			Q2			Q3			Q4	YTD
Sales Volumes (koz)
Consolidated gold ounces sold			1,442			1,380			1,319			1,378			5,519				1,232			1,195			1,211				3,638
Attributable gold ounces sold (1)			1,430			1,363			1,308			1,358			5,459				1,211			1,177			1,194				3,582
Consolidated copper tonnes sold (thousands)			35			37			31			31			134				30			22			18				70
Consolidated silver ounces sold (millions)			6			7			8			7			28				10			6			11				27
Consolidated lead tonnes sold (thousands)			21			23			27			24			95				28			17			21				66
Consolidated zinc tonnes sold (thousands)			73			56			68			49			246				58			40			67				165
Average Realized Price ($/oz, $/lb)
Average realized gold price		$	2,944		$	3,320		$	3,539		$	4,216		$	3,498			$	4,900		$	4,414		$	4,317			$	4,546
Average realized copper price		$	4.65		$	4.37		$	4.67		$	6.04		$	4.89			$	5.68		$	6.82		$	6.91			$	6.36
Average realized silver price		$	30.12		$	29.50		$	37.02		$	57.29		$	38.92			$	66.78		$	53.49		$	50.50			$	57.10
Average realized lead price		$	0.89		$	0.88		$	0.86		$	0.88		$	0.87			$	0.84		$	0.88		$	0.84			$	0.85
Average realized zinc price		$	1.13		$	1.13		$	1.29		$	1.41		$	1.23			$	1.44		$	1.64		$	1.74			$	1.61
Attributable Gold Production (koz)
Lihir			164			160			129			132			585				113			157			135				405
Cadia			103			104			97			81			385				94			34			61				189
Tanami			78			90			100			123			391				82			90			81				253
Boddington			126			147			146			146			565				111			160			150				421
Ahafo South (2)			205			197			145			119			664				128			100			104				332
Ahafo North (2)			—			—			—			68			70				62			68			69				199
Merian (75%)			47			40			35			56			178				66			56			49				171
Cerro Negro			28			42			68			64			202				46			49			55				150
Yanacocha			105			131			152			127			515				144			128			117				389
Peñasquito			123			148			88			56			415				54			37			46				137
Red Chris (70%)			14			15			15			18			62				14			9			9				32
Brucejack			41			50			79			61			231				59			53			72				184
Managed Core Portfolio			1,034			1,124			1,054			1,051			4,263				973			941			948				2,862
Nevada Gold Mines (38.5%)			216			239			251			293			999				236			240			251				727
Pueblo Viejo (40%) (3)			49			63			72			69			253				54			74			65				193
Fruta Del Norte (32%) (4)			43			38			44			40			165				38			38			38				114
Non-Managed Core Portfolio			308			340			367			402			1,417				328			352			354				1,034
Total Core Portfolio			1,342			1,464			1,421			1,453			5,680				1,301			1,293			1,302				3,896
Non-Core Assets (5)			195			14			—			—			209				—			—			—				—
Total Attributable Gold Production			1,537			1,478			1,421			1,453			5,889				1,301			1,293			1,302				3,896
Co-Product Production
Cadia copper tonnes (thousands)			21			22			22			17			82				21			7			13				41
Boddington copper tonnes (thousands)			7			7			6			4			24				3			5			5				13
Red Chris copper tonnes (thousands)			7			7			7			8			29				6			5			5				16
Total copper tonnes (thousands)			35			36			35			29			135				30			17			23				70
Peñasquito silver ounces (millions)			6			8			7			7			28				9			7			11				27
Peñasquito lead tonnes (thousands)			22			27			26			23			98				27			18			22				67
Peñasquito zinc tonnes (thousands)			59			67			59			46			231				62			40			67				169
Total CAS ($M)
Total CAS		$	2,106		$	2,001		$	1,951		$	2,027		$	8,085			$	1,937		$	2,088		$	2,143			$	6,168
Gold By-Product CAS Consolidated ($/oz)
Lihir		$	1,009		$	1,287		$	1,468		$	1,484		$	1,297			$	1,503		$	1,470		$	1,659			$	1,547
Cadia		$	(643	)	$	(514	)	$	(593	)	$	(1,007	)	$	(676	)		$	(1,062	)	$	(945	)	$	(602	)		$	(926	)
Tanami		$	1,087		$	1,278		$	1,158		$	963		$	1,114			$	1,099		$	1,335		$	1,415			$	1,279
Boddington		$	970		$	1,000		$	1,054		$	1,002		$	1,005			$	1,158		$	964		$	905			$	986
Ahafo South		$	1,238		$	1,010		$	1,309		$	1,458		$	1,227			$	1,696		$	2,164		$	1,903			$	1,898
Ahafo North		$	—		$	—		$	—		$	532		$	532			$	1,190		$	1,270		$	1,337			$	1,268
Merian		$	1,497		$	1,808		$	1,722		$	1,297		$	1,562			$	1,320		$	1,413		$	1,566			$	1,423
Cerro Negro		$	2,063		$	2,118		$	1,375		$	1,240		$	1,594			$	1,181		$	1,564		$	1,552			$	1,425
Yanacocha		$	961		$	882		$	769		$	618		$	795			$	1,005		$	1,021		$	1,091			$	1,037
Peñasquito		$	(949	)	$	(880	)	$	(1,882	)	$	(3,587	)	$	(1,578	)		$	(10,482	)	$	(6,201	)	$	(10,832	)		$	(9,538	)
Red Chris		$	(1,200	)	$	71		$	125		$	(1,789	)	$	(723	)		$	(2,094	)	$	(3,096	)	$	(1,948	)		$	(2,396	)
Brucejack		$	1,800		$	1,861		$	1,184		$	1,257		$	1,465			$	1,736		$	1,661		$	1,332			$	1,574
Managed Core Portfolio		$	733		$	789		$	732		$	594		$	713			$	363		$	933		$	689			$	658
Nevada Gold Mines (38.5%)		$	1,426		$	1,448		$	1,241		$	1,258		$	1,334			$	1,281		$	1,473		$	1,392			$	1,382
Non-Managed Core Portfolio		$	1,426		$	1,448		$	1,241		$	1,258		$	1,334			$	1,281		$	1,473		$	1,392			$	1,382
Total Core Portfolio		$	854		$	903		$	831		$	738		$	830			$	541		$	1,043		$	832			$	803
Non-Core Assets (5)		$	1,410		$	2,032		$	—		$	—		$	1,456			$	—		$	—		$	—			$	—
Total Gold By-Product CAS/oz (6)		$	930		$	917		$	831		$	738		$	855			$	541		$	1,043		$	832			$	803

		2025																2026
Operating Results (continued)		Q1			Q2			Q3			Q4			FY				Q1			Q2			Q3			Q4	YTD
Gold Co-Product CAS ($/oz)
Cadia		$	794		$	805		$	820		$	981		$	845			$	1,050		$	1,555		$	1,525			$	1,288
Boddington		$	1,239		$	1,207		$	1,268		$	1,262		$	1,244			$	1,421		$	1,283		$	1,270			$	1,310
Peñasquito		$	898		$	756		$	956		$	1,235		$	922			$	1,188		$	2,126		$	1,431			$	1,501
Red Chris (70%)		$	1,106		$	1,475		$	1,492		$	1,352		$	1,358			$	1,658		$	1,600		$	2,585			$	1,893
Managed Core Portfolio		$	1,150		$	1,154		$	1,172		$	1,140		$	1,154			$	1,314		$	1,461		$	1,463			$	1,411
Total Core Portfolio		$	1,198		$	1,204		$	1,185		$	1,166		$	1,188			$	1,307		$	1,463		$	1,449			$	1,406
Total Gold Co-Product CAS/oz (6)		$	1,227		$	1,215		$	1,185		$	1,166		$	1,199			$	1,307		$	1,463		$	1,449			$	1,406
Co-Product CAS ($/unit)
Cadia - copper ($/tonne)		$	3,468		$	3,517		$	3,534		$	4,289		$	3,688			$	2,858		$	4,523		$	4,267			$	3,584
Boddington - copper ($/tonne)		$	5,423		$	5,163		$	5,048		$	5,548		$	5,287			$	3,912		$	3,778		$	3,721			$	3,783
Red Chris - copper ($/tonne)		$	4,991		$	6,738		$	6,870		$	5,783		$	6,087			$	4,474		$	5,060		$	6,925			$	5,438
Total - copper ($/tonne)		$	4,182		$	4,422		$	4,531		$	4,821		$	4,476			$	3,273		$	4,503		$	4,857			$	4,070
Peñasquito- silver ($/ounce)		$	10		$	9		$	12		$	16		$	12			$	15		$	25		$	18			$	18
Peñasquito - lead ($/tonne)		$	997		$	933		$	1,212		$	1,728		$	1,226			$	590		$	1,022		$	710			$	737
Peñasquito - zinc ($/tonne)		$	1,499		$	1,376		$	1,743		$	2,433		$	1,723			$	1,156		$	1,603		$	1,330			$	1,336
Gold By-Product AISC Consolidated ($/oz)
Lihir		$	1,339		$	1,563		$	1,810		$	1,775		$	1,607			$	1,771		$	1,707		$	1,912			$	1,798
Cadia		$	133		$	92		$	99		$	213		$	135			$	(139	)	$	1,728		$	2,236			$	884
Tanami		$	1,659		$	1,698		$	1,748		$	1,738		$	1,716			$	1,791		$	2,033		$	2,267			$	2,022
Boddington		$	1,348		$	1,250		$	1,346		$	1,343		$	1,321			$	1,587		$	1,326		$	1,214			$	1,342
Ahafo South		$	1,462		$	1,220		$	1,541		$	1,932		$	1,494			$	1,964		$	2,604		$	2,261			$	2,245
Ahafo North		$	—		$	—		$	—		$	691		$	696			$	1,408		$	1,485		$	1,714			$	1,541
Merian		$	1,864		$	2,074		$	2,255		$	1,628		$	1,921			$	1,532		$	1,780		$	1,988			$	1,748
Cerro Negro		$	2,857		$	3,023		$	1,776		$	1,831		$	2,220			$	1,567		$	2,338		$	2,097			$	1,988
Yanacocha		$	1,170		$	1,144		$	868		$	740		$	964			$	1,072		$	1,128		$	1,199			$	1,129
Peñasquito		$	(254	)	$	(406	)	$	(1,216	)	$	(2,440	)	$	(889	)		$	(9,318	)	$	(4,352	)	$	(9,301	)		$	(8,082	)
Red Chris		$	(467	)	$	1,357		$	1,625		$	(847	)	$	398			$	(1,117	)	$	(1,770	)	$	(131	)		$	(1,069	)
Brucejack		$	2,230		$	2,490		$	1,763		$	1,815		$	2,020			$	2,105		$	2,156		$	2,249			$	2,171
Managed Core Portfolio		$	1,309		$	1,276		$	1,255		$	1,245		$	1,271			$	893		$	1,574		$	1,376			$	1,276
Nevada Gold Mines (38.5%)		$	1,789		$	1,771		$	1,502		$	1,508		$	1,629			$	1,595		$	1,805		$	1,760			$	1,721
Non-Managed Core Portfolio		$	1,789		$	1,771		$	1,502		$	1,508		$	1,629			$	1,595		$	1,805		$	1,760			$	1,721
Total Core Portfolio		$	1,394		$	1,360		$	1,303		$	1,302		$	1,339			$	1,029		$	1,621		$	1,454			$	1,365
Non-Core Assets (5)		$	1,787		$	2,550		$	—		$	—		$	1,845			$	—		$	—		$	—			$	—
Total Gold By-product AISC (6)		$	1,447		$	1,375		$	1,303		$	1,302		$	1,358			$	1,029		$	1,621		$	1,454			$	1,365
Gold Co-Product AISC ($/oz)
Cadia		$	1,184		$	1,109		$	1,188		$	1,584		$	1,253			$	1,638		$	3,151		$	3,390			$	2,427
Boddington		$	1,544		$	1,422		$	1,524		$	1,565		$	1,514			$	1,825		$	1,622		$	1,554			$	1,642
Peñasquito		$	1,091		$	944		$	1,133		$	1,491		$	1,120			$	1,495		$	2,589		$	1,735			$	1,845
Red Chris		$	1,322		$	1,903		$	2,037		$	1,723		$	1,750			$	2,110		$	2,118		$	3,176			$	2,405
Managed Core Portfolio		$	1,596		$	1,542		$	1,582		$	1,651		$	1,592			$	1,736		$	1,972		$	2,014			$	1,906
Total Core Portfolio		$	1,630		$	1,582		$	1,566		$	1,620		$	1,599			$	1,709		$	1,938		$	1,963			$	1,869
Total Gold Co-product AISC (6)		$	1,651		$	1,593		$	1,566		$	1,620		$	1,609			$	1,709		$	1,938		$	1,963			$	1,869
Co-Product AISC ($/unit)
Cadia - copper ($/tonne)		$	5,316		$	4,909		$	5,187		$	7,106		$	5,584			$	4,466		$	9,370		$	9,495			$	6,783
Boddington - copper ($/tonne)		$	6,760		$	5,917		$	5,985		$	6,757		$	6,340			$	4,712		$	4,393		$	4,350			$	4,444
Red Chris - copper ($/tonne)		$	6,053		$	8,550		$	9,111		$	7,066		$	7,681			$	5,293		$	6,326		$	8,887			$	6,766
Total - copper ($/tonne)		$	6,014		$	6,068		$	6,440		$	7,305		$	6,423			$	4,816		$	7,584		$	7,994			$	6,506
Peñasquito - silver ($/ounce)		$	13		$	12		$	15		$	20		$	15			$	19		$	30		$	22			$	23
Peñasquito - lead ($/tonne)		$	1,185		$	1,146		$	1,405		$	2,054		$	1,456			$	733		$	1,232		$	852			$	896
Peñasquito - zinc ($/tonne)		$	2,026		$	1,659		$	2,105		$	2,994		$	2,156			$	1,523		$	2,027		$	1,664			$	1,704

____________________________
(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, in which the Company holds a 32% interest and is accounted for as an equity method investment.
(2)	In the fourth quarter of 2025, the Ahafo North development project achieved commercial production and became a reportable segment. Prior to that date, Ahafo North development gold ounces of 2 thousand were included in the Ahafo South reportable segment.
(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 endnote (1). Income and expenses of equity method investments are included in Equity income (loss) of affiliates.
(4)	Represents attributable gold from Newmont's 32% interest in Lundin Gold, which wholly owns and operates the Fruta del Norte mine and 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 endnote (1). Income and expenses of equity method investments are included in Equity income (loss) of affiliates.
(5)	The Company completed the sale of CC&V, Musselwhite, and Éléonore in the first quarter of 2025, and Porcupine and Akyem in the second quarter of 2025. Refer to Note 3 of the Condensed Consolidated Financial Statements for further information.
(6)	Non-GAAP measure. See end of this release for reconciliation.

NEWMONT CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in millions except per share)
	2025 (1)																				2026 (1)
	Q1				Q2				Q3				Q4				FY				Q1				Q2				Q3				Q4		YTD
Sales	$	5,010			$	5,317			$	5,524			$	6,818			$	22,669			$	7,307			$	6,118			$	6,363					$	19,788
Costs and expenses:
Costs applicable to sales (2)		2,106				2,001				1,951				2,027				8,085				1,937				2,088				2,143						6,168
Depreciation and amortization		593				620				643				665				2,521				632				604				632						1,868
Reclamation and remediation		93				83				123				(50	)			249				78				81				199						358
Exploration		49				61				65				68				243				51				69				68						188
Advanced projects, research and development		43				40				40				43				166				45				47				58						150
General and administrative		110				95				86				91				382				79				74				82						235
Impairment charges		15				9				39				779				842				9				2				2						13
(Gain) loss on sale of assets held for sale		(276	)			(699	)			(99	)			8				(1,066	)			—				(5	)			—						(5	)
Other expense, net		28				39				100				119				286				10				62				16						88
		2,761				2,249				2,948				3,750				11,708				2,841				3,022				3,200						9,063
Other income (expense):
Change in fair value of investments and options		291				151				38				124				604				87				(111	)			—						(24	)
Other income (loss), net		10				(36	)			(55	)			87				6				69				49				78						196
Interest expense, net of capitalized interest		(79	)			(65	)			(52	)			(33	)			(229	)			(39	)			(35	)			(31	)					(105	)
		222				50				(69	)			178				381				117				(97	)			47						67
Income (loss) before income and mining tax and other items		2,471				3,118				2,507				3,246				11,342				4,583				2,999				3,210						10,792
Income and mining tax benefit (expense)		(647	)			(1,092	)			(787	)			(2,070	)			(4,596	)			(1,404	)			(952	)			(839	)					(3,195	)
Equity income (loss) of affiliates		78				49				123				171				421				149				204				143						496
Net income (loss)		1,902				2,075				1,843				1,347				7,167				3,328				2,251				2,514						8,093
Net loss (income) attributable to noncontrolling interests (3)		(11	)			(14	)			(11	)			(46	)			(82	)			(66	)			(49	)			(39	)					(154	)
Net income (loss) attributable to Newmont stockholders	$	1,891			$	2,061			$	1,832			$	1,301			$	7,085			$	3,262			$	2,202			$	2,475					$	7,939
Weighted average common shares (millions):
Basic		1,126				1,110				1,097				1,090				1,106				1,085				1,065				1,049						1,066
Effect of employee stock-based awards		1				2				3				4				2				2				2				2						3
Diluted		1,127				1,112				1,100				1,094				1,108				1,087				1,067				1,051						1,069
Net income (loss) attributable to Newmont stockholders per common share:
Basic	$	1.68			$	1.86			$	1.67			$	1.19			$	6.41			$	3.01			$	2.07			$	2.36					$	7.45
Diluted	$	1.68			$	1.85			$	1.67			$	1.19			$	6.39			$	3.00			$	2.06			$	2.35					$	7.43

____________________________
(1)	Certain amounts and disclosures have been reclassified to conform to the presentation.
(2)	Excludes Depreciation and amortization and Reclamation and remediation.
(3)	Relates to the Suriname Gold project C.V. (“Merian”) reportable segment.

NEWMONT CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in millions)
	2025																2026
	MAR				JUN				SEP				DEC				MAR				JUN				SEP				DEC
ASSETS
Cash and cash equivalents	$	4,698			$	6,185			$	5,639			$	7,647			$	8,775			$	9,009			$	8,827
Trade receivables		887				637				1,047				1,067				1,137				686				952
Investments		18				468				328				594				4				—				—
Inventories		1,493				1,500				1,504				1,512				1,501				1,478				1,587
Stockpiles and ore on leach pads		792				767				944				1,177				1,211				1,321				1,313
Other receivables		428				521				506				678				538				492				544
Other current assets		225				219				238				391				345				320				348
Assets held for sale		2,199				102				166				—				—				—				—
Current assets		10,740				10,399				10,372				13,066				13,511				13,306				13,571
Property, plant and mine development, net		33,568				33,591				33,621				33,310				33,323				33,583				33,871
Investments		4,856				4,455				4,103				4,186				4,187				4,122				4,066
Stockpiles and ore on leach pads		2,409				2,540				2,521				2,410				2,538				2,536				2,618
Deferred income tax assets		59				55				40				45				32				22				16
Goodwill		2,658				2,658				2,658				2,658				2,658				2,658				2,658
Other non-current assets		1,229				1,467				1,375				1,446				1,421				1,414				1,383
Total assets	$	55,519			$	55,165			$	54,690			$	57,121			$	57,670			$	57,641			$	58,183
LIABILITIES
Accounts payable	$	771			$	742			$	832			$	816			$	828			$	906			$	879
Employee-related benefits		502				562				750				898				795				708				818
Income and mining taxes payable		378				705				884				1,188				1,377				1,272				1,373
Lease and other financing obligations		109				112				116				118				116				132				134
Other current liabilities		2,357				2,544				2,500				2,692				2,415				2,208				2,335
Liabilities held for sale		1,309				5				4				—				—				—				—
Current liabilities		5,426				4,670				5,086				5,712				5,531				5,226				5,539
Debt		7,507				7,132				5,180				5,115				5,079				5,083				5,087
Lease and other financing obligations		370				363				355				356				337				383				363
Reclamation and remediation liabilities		6,376				6,216				6,228				6,297				6,169				6,184				6,095
Deferred income tax liabilities		2,733				2,890				2,885				4,045				3,948				3,851				3,782
Employee-related benefits		575				596				583				634				604				616				624
Silver streaming agreement		671				646				623				598				572				546				528
Other non-current liabilities		430				365				339				322				332				338				315
Total liabilities		24,088				22,878				21,279				23,079				22,572				22,227				22,333
EQUITY
Common stock		1,803				1,772				1,760				1,753				1,727				1,704				1,679
Treasury stock		(293	)			(294	)			(297	)			(301	)			(346	)			(348	)			(349	)
Additional paid-in capital		29,624				29,141				28,955				28,847				28,417				28,057				27,647
Accumulated other comprehensive income (loss)		(39	)			44				109				137				156				114				123
Retained earnings		153				1,449				2,699				3,431				4,972				5,716				6,575
Newmont stockholders' equity		31,248				32,112				33,226				33,867				34,926				35,243				35,675
Noncontrolling interests		183				175				185				175				172				171				175
Total equity		31,431				32,287				33,411				34,042				35,098				35,414				35,850
Total liabilities and equity	$	55,519			$	55,165			$	54,690			$	57,121			$	57,670			$	57,641			$	58,183

NEWMONT CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in millions)
	2025 (1)																				2026 (1)
	Q1				Q2				Q3				Q4				FY				Q1				Q2				Q3				Q4		YTD
Operating activities:
Net income (loss)	$	1,902			$	2,075			$	1,843			$	1,347			$	7,167			$	3,328			$	2,251			$	2,514					$	8,093
Non-cash adjustments:
Depreciation and amortization		593				620				643				665				2,521				632				604				632						1,868
Reclamation and remediation		89				77				116				(63	)			219				75				74				190						339
(Gain) loss on sale of assets held for sale		(276	)			(699	)			(99	)			8				(1,066	)			—				(5	)			—						(5	)
Deferred income taxes		125				217				74				975				1,391				(45	)			(101	)			(9	)					(155	)
Change in fair value of investments and options		(291	)			(151	)			(38	)			(124	)			(604	)			(87	)			111				—						24
Impairment charges		15				9				39				779				842				9				2				2						13
Other non-cash adjustments		15				80				6				(27	)			74				75				78				4						157
Cash from operations before working capital (2)		2,172				2,228				2,584				3,560				10,544				3,987				3,014				3,333						10,334
Change in operating assets and liabilities:
Trade and other receivables		228				215				(369	)			(167	)			(93	)			70				461				(318	)					213
Inventories, stockpiles and ore on leach pads		(175	)			(61	)			(106	)			(112	)			(454	)			(152	)			(131	)			(172	)					(455	)
Other assets		(9	)			(89	)			(45	)			(104	)			(247	)			(11	)			27				9						25
Accounts payable		(69	)			(30	)			91				(11	)			(19	)			18				84				(22	)					80
Reclamation and remediation liabilities		(95	)			(185	)			(247	)			(276	)			(803	)			(209	)			(249	)			(256	)					(714	)
Accrued tax liabilities (3)		91				263				173				512				1,039				200				(116	)			29						113
Other accrued liabilities		(112	)			43				217				219				367				(118	)			(166	)			165						(119	)
Net change in operating assets and liabilities		(141	)			156				(286	)			61				(210	)			(202	)			(90	)			(565	)					(857	)
Net cash provided by (used in) operating activities		2,031				2,384				2,298				3,621				10,334				3,785				2,924				2,768						9,477
Investing activities:																					​														​
Additions to property, plant and mine development		(826	)			(674	)			(727	)			(808	)			(3,035	)			(641	)			(719	)			(856	)					(2,216	)
Proceeds from sales of investments		7				367				578				34				986				257				—				—						257
Return of investment from equity method investees		20				24				11				7				62				26				16				95						137
Proceeds from sales of mining operations and other assets, net		1,684				991				114				22				2,811				91				9				(1	)					99
Contributions to equity method investees		(31	)			(17	)			(4	)			(7	)			(59	)			(25	)			(32	)			(31	)					(88	)
Other		(116	)			(12	)			(3	)			(28	)			(159	)			(10	)			(5	)			(24	)					(39	)
Net cash provided by (used in) investing activities		738				679				(31	)			(780	)			606				(302	)			(731	)			(817	)					(1,850	)
Financing activities:
Repurchases of common stock		(348	)			(1,011	)			(516	)			(428	)			(2,303	)			(1,895	)			(1,567	)			(1,779	)					(5,241	)
Dividends paid to common stockholders		(282	)			(279	)			(273	)			(272	)			(1,106	)			(282	)			(277	)			(272	)					(831	)
Distributions to noncontrolling interests		(44	)			(56	)			(32	)			(85	)			(217	)			(105	)			(84	)			(49	)					(238	)
Funding from noncontrolling interests		39				31				33				30				133				35				33				33						101
Payments on lease and other financing obligations		(23	)			(23	)			(24	)			(25	)			(95	)			(27	)			(26	)			(25	)					(78	)
Repayment of debt		(985	)			(398	)			(1,977	)			(70	)			(3,430	)			(39	)			—				—						(39	)
Other		(19	)			(9	)			(11	)			17				(22	)			(44	)			(23	)			(16	)					(83	)
Net cash provided by (used in) financing activities		(1,662	)			(1,745	)			(2,800	)			(833	)			(7,040	)			(2,357	)			(1,944	)			(2,108	)					(6,409	)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(5	)			10				(13	)			4				(4	)			1				(17	)			(10	)					(26	)
Net change in cash, cash equivalents and restricted cash, including cash and restricted cash reclassified to assets held for sale		1,102				1,328				(546	)			2,012				3,896				1,127				232				(167	)					1,192
Change in cash and restricted cash reclassified to assets held for sale (4)		(22	)			160				—				—				138				—				—				—						—
Net change in cash, cash equivalents and restricted cash		1,080				1,488				(546	)			2,012				4,034				1,127				232				(167	)					1,192
Cash, cash equivalents and restricted cash at beginning of period		3,650				4,730				6,218				5,672				3,650				7,684				8,811				9,043						7,684
Cash, cash equivalents and restricted cash at end of period	$	4,730			$	6,218			$	5,672			$	7,684			$	7,684			$	8,811			$	9,043			$	8,876					$	8,876
Reconciliation of cash, cash equivalents and restricted cash:																					​
Cash and cash equivalents	$	4,698			$	6,185			$	5,639			$	7,647			$	7,647			$	8,775			$	9,009			$	8,827					$	8,827
Restricted cash included in Other current assets		1				2				1				3				3				3				1				1						1
Restricted cash included in Other non-current assets		31				31				32				34				34				33				33				48						48
Total cash, cash equivalents and restricted cash	$	4,730			$	6,218			$	5,672			$	7,684			$	7,684			$	8,811			$	9,043			$	8,876					$	8,876

____________________________
(1)	Certain amounts and disclosures have been reclassified to conform to the presentation.
(2)	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 above.
(3)	Cash payments for income and mining taxes, net of refunds, of $2,458 for the year ended December 31, 2025 is comprised of $465, $648, $588, and $757 for the first, second, third, and fourth quarter, respectively. Cash payments for income and mining taxes, net of refunds, of $3,207 for the nine months ended September 30, 2026 is comprised of $1,268, $1,081, and $858 for the first, second, and third quarter, respectively.
(4)	During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, the related assets, including Cash and cash equivalents and restricted cash, included in Other current assets and Other non-current assets, were reclassified to Assets held for sale. Refer to Note 3 to the Condensed Consolidated Financial Statements for additional information.

Non-GAAP Financial Measures (dollars in millions, except per share, per ounce and per pound amounts, unless otherwise noted)

Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by GAAP. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Refer to Non-GAAP Financial Measures within Part II, Item 7 within our Form 10-K for the year ended December 31, 2025 for further information on the non-GAAP financial measures presented below, including why management believes that its presentation of non-GAAP financial measures provides useful information to investors.

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 September 30, 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.

		Three Months Ended September 30, 2025												Nine Months Ended September 30, 2025
						per share data (1)												per share data (1)
						basic				diluted								basic				diluted
Net income (loss) attributable to Newmont stockholders		$	1,832			$	1.67			$	1.67			$	5,784			$	5.21			$	5.20
Adjustments:
(Gain) loss on sale of assets held for sale (2)			(99	)			(0.09	)			(0.09	)			(1,074	)			(0.97	)			(0.96	)
Change in fair value of investments and options (3)			(38	)			(0.03	)			(0.03	)			(480	)			(0.43	)			(0.43	)
Restructuring and severance (4)			85				0.08				0.07				109				0.10				0.10
(Gain) loss on debt extinguishment (5)			72				0.06				0.06				100				0.09				0.09
Impairment charges (6)			39				0.03				0.03				62				0.06				0.06
Reclamation and remediation charges (7)			41				0.04				0.04				41				0.04				0.04
(Gain) loss on asset and investment sales (8)			6				—				—				13				0.01				0.01
Newcrest transaction and integration costs (9)			2				—				—				(4	)			—				—
Settlement costs (10)			(2	)			—				—				1				—				—
Other (11)			(1	)			—				—				16				0.01				0.01
Tax effect of adjustments (12)			(36	)			(0.02	)			(0.02	)			334				0.31				0.30
Valuation allowance and other tax adjustments (13)			(18	)			(0.02	)			(0.02	)			(21	)			(0.03	)			(0.03	)
Adjusted net income (loss)		$	1,883			$	1.72			$	1.71			$	4,881			$	4.40			$	4.39
​
Weighted average common shares (millions): (14)							1,097				1,100								1,111				1,113

____________________________
(1)	Per share measures may not recalculate due to rounding.
(2)	Consists of the gain on the divestments of certain non-core assets; included in (Gain) loss on sale of assets held for sale. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information.
(3)	Primarily consists of the unrealized gains and losses related to the Company's marketable equity and other securities; 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. Amounts are presented net of Net loss (income) attributable to noncontrolling interests of $(2) and $(2), respectively.
(5)	Consists of the loss on debt redemptions; included in Other income (loss), net. Refer to Note 15 to the Condensed Consolidated Financial Statements for further information.
(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. Amounts are presented net of Net loss (income) attributable to noncontrolling interests of $— and $(1), respectively.
(7)	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.
(8)	Primarily consists of gains and losses related to the sale of certain assets and investments; included in Other income (loss), net.
(9)	Consists of costs incurred related to the Newcrest transaction and includes a gain related to reduction of the stamp duty tax liability; included in Other expense, net.
(10)	Primarily consists of amounts incurred related to non-recurring contractual obligations arising outside the ordinary course of business; included in Other expense, net.
(11)	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.
(12)	The tax effect of adjustments, included in Income and mining tax benefit (expense), represents the tax effect of adjustments in footnotes (2) through (11), as described above, and are calculated using the applicable regional tax rate.
(13)	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 September 30, 2025 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 $(21) and $(72), the effects of changes in foreign exchange rates on deferred tax assets and liabilities of $(72) and $(69), net reductions to the reserve for uncertain tax positions of $4 and $(2), and other tax adjustments of $71 and $122. For further information on reductions to the reserve for uncertain tax positions, refer to Note 9 to the Condensed Consolidated Financial Statements.
(14)	Adjusted net income (loss) per diluted share is calculated using diluted common shares in accordance with GAAP.

Earnings Before Interest, Taxes, Depreciation and Amortization and Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization

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.

Net Debt

Net debt is calculated as Debt and Lease and other financing obligations less Cash and cash equivalents, as presented on the Condensed 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 following table sets forth a reconciliation of Net debt, a non-GAAP financial measure, to Debt and Lease and other financing obligations, which the Company believes to be the GAAP financial measures most directly comparable to Net debt. 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.

​	At September 30, 2026				At December 31, 2025
Debt	$	5,087			$	5,115
Less: Cash and cash equivalents		(8,827	)			(7,647	)
Net debt (cash) excluding lease and other financing obligations		(3,740	)			(2,532	)
Add: Lease and other financing obligations		497				474
Net debt (cash)	$	(3,243	)		$	(2,058	)

Net debt to Adjusted EBITDA ratio

Management uses net debt to Adjusted EBITDA as non-GAAP measures to evaluate the Company’s operating performance, including our ability to generate earnings sufficient to service our debt. Net debt to Adjusted EBITDA represents the ratio of the Company’s debt, net of cash and cash equivalents, to Adjusted EBITDA. Net debt to Adjusted EBITDA does 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 does not necessarily indicate whether cash flows will be sufficient to fund cash needs. Although Net debt to Adjusted EBITDA and similar measures are frequently used as measures of operations and the ability to meet debt service requirements by other companies, our calculation of net debt to Adjusted EBITDA measure is not necessarily comparable to such other similarly titled captions of other companies. The Company believes that net debt to Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and Board of Directors. Management’s determination of the components of net debt to Adjusted EBITDA is evaluated periodically and based, in part, on a review of non-GAAP financial measures used by mining industry analysts. Net income (loss) attributable to Newmont stockholders is reconciled to Adjusted EBITDA as follows:

	Three Months Ended
	September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025
Net income (loss) attributable to Newmont stockholders	$	2,475			$	2,202			$	3,262			$	1,301
Net income (loss) attributable to noncontrolling interests		39				49				66				46
Equity loss (income) of affiliates		(143	)			(204	)			(149	)			(171	)
Income and mining tax expense (benefit)		839				952				1,404				2,070
Depreciation and amortization		632				604				632				665
Interest expense, net of capitalized interest		31				35				39				33
EBITDA (1)	$	3,873			$	3,638			$	5,254			$	3,944
Adjustments:
Reclamation and remediation charges		116				—				—				(137	)
(Gain) loss on asset and investment sales		(40	)			1				—				7
Restructuring and severance		7				12				6				75
Impairment charges		2				2				9				779
Settlement costs		1				2				(2	)			1
Change in fair value of investments and options		—				111				(87	)			(124	)
(Gain) loss on sale of assets held for sale		—				(5	)			—				8
(Gain) loss on debt extinguishment		—				—				(1	)			1
Newcrest transaction and integration costs		—				—				—				4
Other		(8	)			(4	)			(25	)			(13	)
Adjusted EBITDA (1)	$	3,951			$	3,757			$	5,154			$	4,545
12 month trailing Adjusted EBITDA	$	17,407
Total Debt	$	5,087
Less: Cash and cash equivalents		(8,827	)
Net debt (cash) excluding leases and other financing obligations		(3,740	)
Add: Lease and other financing obligations		497
Net debt (cash)	$	(3,243	)
Net debt (cash) to Adjusted EBITDA		(0.2	)

____________________________
(1)	See EBITDA and Adjusted EBITDA reconciliation for more details on adjustments.

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.

	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	)

____________________________
(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.​

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.

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 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	$	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

____________________________
(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, 2025	Costs Applicable to Sales (1)(2)			Reclamation Costs (3)			Advanced Projects, Research and Development and Exploration (4)			General and Administrative			Other Expense, Net (5)				Treatment and Refining Costs				Sustaining Capital and Lease Related Costs (6)(7)			All-In Sustaining Costs			Ounces (000) Sold		Co-Product All-In Sustaining Costs Per oz.(8)			Co-Product All-In Sustaining Costs from GEO			Less: Co-Product Sales				By-Product All-In Sustaining Costs				By-Product All-In Sustaining Costs per Ounce (8)
Gold
Managed
Lihir	$	202		$	4		$	5		$	—		$	1			$	—			$	38		$	250		138		$	1,810		$	—		$	—			$	250			$	1,810
Cadia		74			1			—			—			—				—				31			106		91		$	1,188			98			(195	)			9			$	99
Tanami		121			2			2			—			—				—				58			183		105		$	1,748			—			—				183			$	1,748
Boddington		166			5			—			—			—				—				27			198		130		$	1,524			32			(55	)			175			$	1,346
Ahafo South		195			2			3			—			—				—				29			229		148		$	1,541			—			—				229			$	1,541
Merian		78			2			6			—			—				—				16			102		46		$	2,255			—			—				102			$	2,255
Cerro Negro		83			2			—			—			(1	)			—				23			107		60		$	1,776			—			—				107			$	1,776
Yanacocha		117			13			1			—			1				—				2			134		152		$	868			—			—				134			$	868
Peñasquito		97			4			—			1			—				6				8			116		102		$	1,133			296			(536	)			(124	)		$	(1,216	)
Red Chris		23			1			—			—			1				—				7			32		16		$	2,037			63			(69	)			26			$	1,625
Brucejack		91			1			8			—			—				1				36			137		77		$	1,763			—			—				137			$	1,763
Non-managed
NGM		316			4			3			3			1				1				54			382		254		$	1,502			—			—				382			$	1,502
Corporate and Other (9)		—			—			13			65			9				—				3			90		—		$	—			19			—				109			$	—
Total Gold		1,563			41			41			69			12				8				332			2,066		1,319		$	1,566		$	508		$	(855	)		$	1,719			$	1,303
​
Gold equivalent ounces - other metals (10)(11)
Managed
Cadia		67			1			2			—			—				1				27			98		85		$	1,143
Boddington		26			1			—			—			—				—				5			32		24		$	1,319
Peñasquito (12)		247			6			—			1			—				18				24			296		230		$	1,289
Red Chris		48			1			—			—			2				(2	)			14			63		31		$	2,007
Corporate and Other (9)		—			—			4			16			(1	)			—				—			19		—		$	—
Total Gold Equivalent Ounces		388			9			6			17			1				17				70			508		370		$	1,370
​
Consolidated	$	1,951		$	50		$	47		$	86		$	13			$	25			$	402		$	2,574

____________________________
(1)	Excludes Depreciation and amortization and Reclamation and remediation.
(2)	Includes by-product credits of $94.
(3)	Includes operating accretion of $28, included in Reclamation and remediation, and amortization of asset retirement costs of $22; 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 $46 and $49, respectively, included in Reclamation and remediation.
(4)	Excludes development expenditures of $11 at Ahafo South, $2 at Ahafo North, $4 at Merian, $8 at Cerro Negro, $3 at Yanacocha, $4 at Peñasquito, $3 at Red Chris, $5 at NGM, $18 at Corporate and Other, totaling $58 related to developing new operations or major projects at existing operations where these projects will materially benefit the operation.
(5)	Excludes restructuring and severance of $87, impairment charges of $39, Newcrest transaction and integration costs of $2, and settlement costs of $(2); included in Other expense, net.
(6)	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.
(7)	Includes finance lease payments and other costs for sustaining projects of $19.
(8)	Per ounce measures may not recalculate due to rounding.
(9)	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.
(10)	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 ($1,700/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($0.90/lb.) and Zinc ($1.20/lb.) pricing for 2025.
(11)	For the three months ended September 30, 2025, Cadia sold 19 thousand tonnes of copper, Boddington sold 5 thousand tonnes of copper, Peñasquito sold 8 million ounces of silver, 27 thousand tonnes of lead and 68 thousand tonnes of zinc, and Red Chris sold 7 thousand tonnes of copper.
(12)	All-in sustaining costs at Peñasquito is comprised of $116, $38, and $142 for silver, lead, and zinc, respectively.

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

____________________________
(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.
(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 $71.
(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 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.
(14)	All-in sustaining costs at Peñasquito is comprised of $621, $59, and $282 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.

Nine Months Ended September 30, 2025	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)			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				By-Product All-In Sustaining Costs				By-Product All-In Sustaining Costs per Ounce (9)
Gold
Managed
Lihir	$	565		$	11		$	8		$	—		$	1		$	—			$	124		$	709		454		$	1,559		$	—		$	—			$	709			$	1,559
Cadia		239			2			—			—			—			3				99			343		298		$	1,158			321			(632	)			32			$	107
Tanami		318			4			5			—			—			—				134			461		270		$	1,707			—			—				461			$	1,707
Boddington		502			16			1			—			—			2				85			606		405		$	1,495			122			(196	)			532			$	1,314
Ahafo South		643			10			8			—			2			—				101			764		547		$	1,395			—			—				764			$	1,395
Merian		272			6			10			—			—			—				43			331		161		$	2,062			—			—				331			$	2,062
Cerro Negro (10)		233			6			1			—			—			—				78			318		132		$	2,408			—			—				318			$	2,408
Yanacocha		329			39			1			—			25			—				7			401		384		$	1,041			—			—				401			$	1,041
Peñasquito		303			12			—			1			—			19				35			370		353		$	1,048			744			(1,322	)			(208	)		$	(589	)
Red Chris		61			2			—			—			1			—				15			79		45		$	1,759			164			(205	)			38			$	844
Brucejack		265			4			13			—			—			2				77			361		172		$	2,094			—			—				361			$	2,094
Non-managed
NGM		967			13			8			8			4			4				184			1,188		707		$	1,680			—			—				1,188			$	1,680
Corporate and Other (11)		—			—			59			235			22			—				7			323		—		$	—			60			—				383			$	—
Divested (12)
CC&V		39			2			—			—			—			—				5			46		27		$	1,684			—			—				46			$	1,684
Musselwhite		33			1			—			—			—			—				14			48		32		$	1,531			—			—				48			$	1,531
Porcupine		79			3			1			—			1			—				25			109		60		$	1,810			—			—				109			$	1,810
Éléonore		54			1			2			—			—			—				12			69		49		$	1,403			—			—				69			$	1,403
Akyem		107			5			—			—			—			—				8			120		45		$	2,664			—			—				120			$	2,664
Total Gold		5,009			137			117			244			56			30				1,053			6,646		4,141		$	1,605		$	1,411		$	(2,355	)		$	5,702			$	1,377
​
Gold equivalent ounces - other metals (13)(14)
Managed
Cadia		220			2			3			—			—			4				92			321		284		$	1,129
Boddington		102			2			—			—			—			1				17			122		89		$	1,375
Peñasquito (15)		598			18			—			2			—			53				73			744		632		$	1,177
Red Chris		129			4			—			—			2			(2	)			31			164		94		$	1,738
Corporate and Other (11)		—			—			14			45			1			—				—			60		—		$	—
Total Gold Equivalent Ounces		1,049			26			17			47			3			56				213			1,411		1,099		$	1,283
​
Consolidated	$	6,058		$	163		$	134		$	291		$	59		$	86			$	1,266		$	8,057

____________________________
(1)	Excludes Depreciation and amortization and Reclamation and remediation.
(2)	Includes by-product credits of $232.
(3)	Includes stockpile, leach pad, and product inventory adjustments of $3 at Cerro Negro and $25 at NGM.
(4)	Includes operating accretion of $94, included in Reclamation and remediation, and amortization of asset retirement costs of $69; 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 $147 and $58, respectively, included in Reclamation and remediation.
(5)	Excludes development expenditures of $3 at Cadia, $3 at Tanami, $2 at Boddington, $26 at Ahafo South, $7 at Ahafo North, $20 at Merian, $18 at Cerro Negro, $7 at Yanacocha, $12 at Peñasquito, $8 at Red Chris, $8 at NGM, $50 at Corporate and Other, totaling $164 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 $111, impairment charges of $63, Newcrest transaction and integration costs of $(4), 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 $58.
(9)	Per ounce measures may not recalculate due to rounding.
(10)	During the first quarter of 2025, mining and processing operations at the site were temporarily suspended due to safety events. Full operations resumed in April 2025.
(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)	Refer to Note 3 to the Condensed Consolidated Financial Statements for information on the Company's divestitures.
(13)	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 ($1,700/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($0.90/lb.) and Zinc ($1.20/lb.) pricing for 2025.
(14)	For the nine months ended September 30, 2025, Cadia sold 63 thousand tonnes of copper, Boddington sold 19 thousand tonnes of copper, Peñasquito sold 21 million ounces of silver, 71 thousand tonnes of lead and 197 thousand tonnes of zinc, and Red Chris sold 21 thousand tonnes of copper.
(15)	All-in sustaining costs at Peñasquito is comprised of $271, $89, and $384 for silver, lead, and zinc, respectively.

Gold by-product metrics

Copper, silver, lead, zinc, and molybdenum are by-products often obtained during the process of extracting and processing the primary ore-body. In our GAAP Condensed Consolidated Financial Statements, the value of these by-products is recorded as a credit to our CAS and the value of the primary ore is recorded as Sales. In certain instances, copper, silver, lead, and zinc are co-products, or a significant resource in the primary ore-body, and the revenue is recorded as Sales in our GAAP Condensed Consolidated Financial Statements.

Gold by-product metrics are non-GAAP financial measures that serve as a basis for comparing the Company’s performance with certain competitors. As Newmont’s operations are primarily focused on gold production, “Gold by-product metrics” were developed to allow investors to view Sales, CAS per ounce and AISC per ounce calculations that classify all copper, silver, lead, zinc, and molybdenum production as a by-product, even when copper, silver, lead or zinc is a significant resource in the primary ore-body. These metrics are calculated by subtracting copper, silver, lead, and zinc sales recognized from Sales and including these amounts as offsets to CAS.

Gold by-product metrics are calculated on a consistent basis for the periods presented on a consolidated basis. These metrics are intended to provide supplemental information only, do not have any standardized meaning prescribed by GAAP and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Other companies may calculate these measures differently as a result of differences in the underlying accounting principles, policies applied and in accounting frameworks.

The following reconciles these non-GAAP measures to the most directly comparable GAAP measures:

	Three Months Ended September 30,								Nine Months Ended September 30,
Total Newmont Sales and Costs Applicable to Sales	2026				2025				2026				2025
Consolidated gold sales, net - Managed Core	$	4,172			$	3,776			$	13,244			$	10,566
Consolidated gold sales, net - Non-Managed Core		1,056				893				3,296				2,302
Consolidated gold sales, net - Non-Core		—				—				—				628
Consolidated other metal sales, net		1,135				855				3,248				2,355
Sales - Total Newmont	$	6,363			$	5,524			$	19,788			$	15,851
Consolidated other metal sales, net (1)	$	1,135			$	855			$	3,248			$	2,355
Add back: Treatment and refining charges from other metals (2)		13								39
Consolidated other metal sales, excluding treatment and refining charges (3)	$	1,148			$	855			$	3,287			$	2,355
Costs applicable to sales - Managed Core	$	1,805			$	1,635			$	5,167			$	4,779
Costs applicable to sales - Non-Managed Core		343				316				1,006				967
Costs applicable to sales - Non-Core		(5	)			—				(5	)			312
Costs applicable to sales - Total Newmont	$	2,143			$	1,951			$	6,168			$	6,058
Total Newmont Consolidated Gold By-product Unit Costs
Costs applicable to sales	$	2,143			$	1,951			$	6,168			$	6,058
Less: Consolidated other metal sales, net (1)		(1,135	)			(855	)			(3,248	)			(2,355	)
By-product costs applicable to sales	$	1,008			$	1,096			$	2,920			$	3,703
Gold sold (thousand ounces)		1,211				1,319				3,638				4,141
Total Gold CAS per ounce (by-product) (4)	$	832			$	831			$	803			$	894
Total AISC	$	2,909			$	2,574			$	8,253			$	8,057
Less: Consolidated other metal sales, excluding treatment and refining charges (3)		(1,148	)			(855	)			(3,287	)			(2,355	)
By-product AISC	$	1,761			$	1,719			$	4,966			$	5,702
Gold sold (thousand ounces)		1,211				1,319				3,638				4,141
Total Gold AISC per ounce (by-product) (4)	$	1,454			$	1,303			$	1,365			$	1,377
Managed Core Gold By-product Unit Costs
Costs applicable to sales - Managed Core (5)	$	1,805			$	1,635			$	5,167			$	4,779
Less: Consolidated other metal sales, net (1)		(1,135	)			(855	)			(3,248	)			(2,355	)
By-product costs applicable to sales	$	670			$	780			$	1,919			$	2,424
Gold sold (thousand ounces)		964				1,065				2,910				3,221
Total Gold CAS per ounce (by-product) - Managed Core (4)	$	689			$	732			$	658			$	753
Total AISC - Managed Core	$	2,477			$	2,192			$	7,001			$	6,477
Less: Consolidated other metal sales, excluding treatment and refining charges (3)		(1,148	)			(855	)			(3,287	)			(2,355	)
By-product AISC	$	1,329			$	1,337			$	3,714			$	4,122
Gold sold (thousand ounces)		964				1,065				2,910				3,221
Total Gold AISC per ounce (by-product) - Managed Core (4)	$	1,376			$	1,255			$	1,276			$	1,280
Total Core Gold By-product Unit Costs
Costs applicable to sales - Total Core (5)	$	2,148			$	1,951			$	6,173			$	5,746
Less: Consolidated other metal sales, net (1)		(1,135	)			(855	)			(3,248	)			(2,355	)
By-product costs applicable to sales	$	1,013			$	1,096			$	2,925			$	3,391
Gold sold (thousand ounces)		1,211				1,319				3,638				3,928
Total Gold CAS per ounce (by-product) - Total Core (4)	$	832			$	831			$	803			$	863
Total AISC - Total Core	$	2,909			$	2,574			$	8,253			$	7,665
Less: Consolidated other metal sales, excluding treatment and refining charges (3)		(1,148	)			(855	)			(3,287	)			(2,355	)
By-product AISC	$	1,761			$	1,719			$	4,966			$	5,310
Gold sold (thousand ounces)		1,211				1,319				3,638				3,928
Total Gold AISC per ounce (by-product) - Total Core (4)	$	1,454			$	1,303			$	1,365			$	1,352

____________________________
(1)	Included in Sales as presented on the Condensed Consolidated Statement of Operations; refer to the reconciliation provided in the table above.
(2)	Consists of treatment and refining charges related to metals other than gold; refer to the "Net average realized price per ounce/ pound" section below for a reconciliation of treatment and refining charges by metal.
(3)	For purposes of calculating AISC per ounce (by-product basis), treatment and refining charges are excluded from consolidated other metal sales, as these amounts are already reflected in AISC.
(4)	Per ounce measures may not recalculate due to rounding.
(5)	Included in Costs applicable to sales as presented on the Condensed Consolidated Statement of Operations; refer to the reconciliation provided in the table above.

2026 Guidance - Gold AISC Reconciliation

A reconciliation of the 2026 Gold AISC outlook to the 2026 Gold CAS outlook 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.

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 & 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	)
All-in Sustaining Costs	$	7,450
Ounces (000) Sold (11)		4,900
All-in Sustaining Costs per Ounce	$	1,520

____________________________
(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 release.
(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.

Net average realized price per ounce/ pound

Average realized price per ounce/ pound are non-GAAP financial measures. The measures are calculated by dividing the net consolidated gold, copper, silver, lead, and zinc sales by the consolidated gold ounces, copper pounds, silver ounces, lead pounds and zinc pounds sold, respectively. These measures are calculated on a consistent basis for the periods presented on a consolidated basis. Average realized price per ounce/ pound statistics are intended to provide additional information only, do not have any standardized meaning prescribed by GAAP and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The measures are not necessarily indicative of operating profit or cash flow from operations as determined under GAAP. Other companies may calculate these measures differently.

The following tables reconcile these non-GAAP measures to the most directly comparable GAAP measure:

	Three Months Ended September 30,						Increase (Decrease)				Percent Change			Nine Months Ended September 30,						Increase (Decrease)				Percent Change
	2026			2025										2026			2025
Gold	$	5,228		$	4,669		$	559			12	%		$	16,540		$	13,496		$	3,044			23	%
Copper		288			319			(31	)		(10	)%			985			1,033			(48	)		(5	)%
Silver		550			293			257			88	%			1,552			672			880			131	%
Lead		39			52			(13	)		(25	)%			123			137			(14	)		(10	)%
Zinc		258			191			67			35	%			588			513			75			15	%
Total sales	$	6,363		$	5,524		$	839			15	%		$	19,788		$	15,851		$	3,937			25	%

​	Three Months Ended September 30, 2026
	Gold			Copper			Silver				Lead				Zinc
​	(ounces)			(pounds)			(ounces)				(pounds)				(pounds)
Consolidated sales:				​			​				​				​
Gross before provisional pricing and streaming impact	$	5,197		$	268		$	522			$	40			$	257
Provisional pricing mark-to-market		31			18			3				—				8
Silver streaming amortization		—			—			32				—				—
Gross after provisional pricing and streaming impact		5,228			286			557				40				265
Treatment and refining charges		—			2			(7	)			(1	)			(7	)
Net	$	5,228		$	288		$	550			$	39			$	258
Consolidated ounces/pounds sold (1)(2)		1,211			42			11				47				149
Average realized price (per ounce/pound): (3)							​				​				​
Gross before provisional pricing and streaming impact	$	4,291		$	6.44		$	48.03			$	0.85			$	1.73
Provisional pricing mark-to-market		26			0.43			0.25				(0.01	)			0.06
Silver streaming amortization		—			—			2.90				—				—
Gross after provisional pricing and streaming impact		4,317			6.87			51.18				0.84				1.79
Treatment and refining charges		—			0.04			(0.68	)			—				(0.05	)
Net	$	4,317		$	6.91		$	50.50			$	0.84			$	1.74

____________________________
(1)	Amounts reported in millions except gold ounces, which are reported in thousands.
(2)	The Company sold 18 thousand tonnes of copper, 21 thousand tonnes of lead, and 67 thousand tonnes of zinc.
(3)	Per ounce/pound measures may not recalculate due to rounding.​

	Three Months Ended September 30, 2025
	Gold				Copper			Silver				Lead				Zinc
	(ounces)				(pounds)			(ounces)				(pounds)				(pounds)
Consolidated sales:
Gross before provisional pricing and streaming impact	$	4,595			$	302		$	235			$	59			$	190
Provisional pricing mark-to-market		82				16			42				(6	)			10
Silver streaming amortization		—				—			24				—				—
Gross after provisional pricing and streaming impact		4,677				318			301				53				200
Treatment and refining charges		(8	)			1			(8	)			(1	)			(9	)
Net	$	4,669			$	319		$	293			$	52			$	191
Consolidated ounces/pounds sold (1)(2)		1,319				68			8				60				149
Average realized price (per ounce/pound): (3)
Gross before provisional pricing and streaming impact	$	3,484			$	4.43		$	29.66			$	0.97			$	1.29
Provisional pricing mark-to-market		62				0.23			5.25				(0.09	)			0.06
Silver streaming amortization		—				—			3.03				—				—
Gross after provisional pricing and streaming impact		3,546				4.66			37.94				0.88				1.35
Treatment and refining charges		(7	)			0.01			(0.92	)			(0.02	)			(0.06	)
Net	$	3,539			$	4.67		$	37.02			$	0.86			$	1.29

____________________________
(1)	Amounts reported in millions except gold ounces, which are reported in thousands
(2)	The Company sold 31 thousand tonnes of copper, 27 thousand tonnes of lead, and 68 thousand tonnes of zinc.
(3)	Per ounce/pound measures may not recalculate due to rounding.​

	Nine Months Ended September 30, 2026
	Gold				Copper			Silver				Lead				Zinc
	(ounces)				(pounds)			(ounces)				(pounds)				(pounds)
Consolidated sales:
Gross before provisional pricing and streaming impact	$	16,520			$	937		$	1,455			$	125			$	587
Provisional pricing mark-to-market		31				44			40				(1	)			20
Silver streaming amortization		—				—			80				—				—
Gross after provisional pricing and streaming impact		16,551				981			1,575				124				607
Treatment and refining charges		(11	)			4			(23	)			(1	)			(19	)
Net	$	16,540			$	985		$	1,552			$	123			$	588
Consolidated ounces/pounds sold (1)(2)		3,638				155			27				145				365
Average realized price (per ounce/pound): (3)
Gross before provisional pricing and streaming impact	$	4,541			$	6.05		$	53.57			$	0.86			$	1.61
Provisional pricing mark-to-market		8				0.28			1.47				—				0.06
Silver streaming amortization		—				—			2.90				—				—
Gross after provisional pricing and streaming impact		4,549				6.33			57.94				0.86				1.67
Treatment and refining charges		(3	)			0.03			(0.84	)			(0.01	)			(0.06	)
Net	$	4,546			$	6.36		$	57.10			$	0.85			$	1.61

____________________________
(1)	Amounts reported in millions except gold ounces, which are reported in thousands
(2)	The Company sold 70 thousand tonnes of copper, 66 thousand tonnes of lead, and 165 thousand tonnes of zinc.
(3)	Per ounce/pound measures may not recalculate due to rounding.​

	Nine Months Ended September 30, 2025
	Gold				Copper				Silver				Lead				Zinc
	(ounces)				(pounds)				(ounces)				(pounds)				(pounds)
Consolidated sales:
Gross before provisional pricing and streaming impact	$	13,318			$	982			$	563			$	141			$	545
Provisional pricing mark-to-market		208				54				66				(1	)			(2	)
Silver streaming amortization		—				—				63				—				—
Gross after provisional pricing and streaming impact		13,526				1,036				692				140				543
Treatment and refining charges		(30	)			(3	)			(20	)			(3	)			(30	)
Net	$	13,496			$	1,033			$	672			$	137			$	513
Consolidated ounces/pounds sold (1)(2)		4,141				227				21				157				434
Average realized price (per ounce/pound): (3)
Gross before provisional pricing and streaming impact	$	3,216			$	4.33			$	27.33			$	0.90			$	1.26
Provisional pricing mark-to-market		50				0.24				3.18				(0.01	)			(0.01	)
Silver streaming amortization		—				—				3.03				—				—
Gross after provisional pricing and streaming impact		3,266				4.57				33.54				0.89				1.25
Treatment and refining charges		(7	)			(0.02	)			(0.96	)			(0.02	)			(0.07	)
Net	$	3,259			$	4.55			$	32.58			$	0.87			$	1.18

____________________________
(1)	Amounts reported in millions except gold ounces, which are reported in thousands
(2)	The Company sold 103 thousand tonnes of copper, 71 thousand tonnes of lead, and 197 thousand tonnes of zinc.
(3)	Per ounce/pound measures may not recalculate due to rounding.​

Conference Call Information

A conference call will be held on Thursday, October 22, 2026 at 5:30 p.m. Eastern Daylight Time (3:30 p.m. Mountain Daylight Time), which is 8:30 a.m. Australian Eastern Daylight Time on Friday, October 23, 2026. A replay of the webcast will be available on the Company’s website.

Webcast Details

Title: Newmont Third Quarter 2026 Results Conference Call
Attendee URL: https://events.q4inc.com/attendee/914321545
Analyst Registration for Q&A: https://events.q4inc.com/analyst/914321545?pwd=VzqX5w2Z

The webcast materials will be available October 22, 2026, after North American markets close, under the “Investor Relations” section of the Company’s website. Additionally, the conference call will be archived for a limited time on the Company’s website.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, zinc, lead, silver and molybdenum, providing the metals the world needs for today and tomorrow. Founded in 1921 and publicly traded since 1925, Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. At Newmont, our purpose is to unearth value sustainably to advance lives. To learn more, visit www.newmont.com.

Cautionary Statement Regarding Forward-Looking Statements, Including Outlook Assumptions, and Notes:

This news release 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 news release 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, synergies, including pre-tax synergies, savings and efficiencies, productivity improvements, and future cash flow enhancements, (vii) expectations regarding Newmont’s core portfolio; (viii) expectations regarding future investments or divestitures; (ix) expectations regarding free cash flow and returns to stockholders, including with respect to future dividends and future share repurchases; (x) expectations regarding exploration, including timeline, growth potential, opportunities and costs, and future reserve and resource development; and (xi) other financial and operating 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.

Dividends: 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. Management’s expectations with respect to future dividends are “forward-looking statements” and are non-binding. The Capital Allocation Framework is provided for illustrative purposes and remains non-binding. 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.

Share Repurchase Plan: Investors are also cautioned that the extent to which the Company repurchases its shares under the authorized share repurchase program, 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 share 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.

Red Chris Block Cave Project: Expectations regarding the Red Chris Block Cave Project are forward-looking statements, including 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 approval by the Board of Directors of the Red Chris Joint Venture and any other required corporate or joint venture approvals; (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 life of up to 70 years; (x) anticipated environmental, employment, training, infrastructure, supply-chain, community and other economic benefits; and (xi) other expectations regarding the Red Chris Block Cave Project and the broader district. 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; continued stakeholder and Indigenous support; 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; the announced Government of Canada contribution not being finalized, received or available in the anticipated amount, on the anticipated timing or on acceptable terms; 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 announced Government of Canada contribution have not been finalized, and a final investment decision has not been made. There can be no assurance that the contribution will be received in the anticipated amount, on the anticipated timing or on acceptable terms, or that the project will be approved or developed on the timing, cost, scope or other terms described in this news release, 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.

For additional discussion of risks and other factors that might impact forward-looking statements, 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 (the “SEC”) on February 19, 2026, under the heading “Risk Factors", and other factors identified in the Company's reports filed with the SEC, available on the SEC website or at www.newmont.com. The Company does not undertake any obligation to publicly release revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this news release, 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 encouraged to review our Form 10-Q for the quarter ended September 30, 2026, as filed on October 22, 2026.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261022646936/en/

Investor Contact - Global
Neil Backhouse
investor.relations@newmont.com

Investor Contact - Asia Pacific
Clare Kasperzak
apac.investor.relations@newmont.com

Media Contact - Global
Shannon Brushe
globalcommunications@newmont.com

Media Contact - Asia Pacific
Rosalie Cobai
australiacommunications@newmont.com

Source: Newmont

Key Terms

costs applicable to sales technical

The direct costs a company incurs to produce or deliver the goods or services it sells during a reporting period. It typically includes raw materials, direct labor, production-related overhead (such as factory utilities and depreciation tied to manufacturing), and the purchase cost of items bought for resale; it does not include selling, general and administrative expenses, interest or income taxes. Exact line items can vary by accounting policy and industry—for example service businesses often treat direct labor and contractor fees as costs applicable to sales, and some companies also include freight‑in or inventory write‑downs in this category.

all-in sustaining costs technical

All-in sustaining costs (AISC) is a per-unit measure used mainly in the mining sector that captures the full ongoing cost to produce a unit of metal, including operating expenses, sustaining capital (maintenance of current operations), and a share of corporate overhead and site-level costs. Investors use AISC to judge whether production generates real profit and sustainable cash flow—think of it as the total monthly household cost to keep a home running, not just the utility bill.

adjusted ebitda financial

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

non-gaap financial

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

mark-to-market adjustment financial

A mark-to-market adjustment is an accounting change that updates the value of an asset or liability on a company’s books to what it would sell for at current market prices. Investors care because these adjustments can instantly change reported profits, losses and the company’s financial health — like reappraising a house and seeing your net worth rise or fall overnight — which affects valuation, risk assessment and investment decisions.