MAY 2023 INVESTOR PRESENTATION – NEWMONT TO ACQUIRE NEWCREST NEW MONT CORP ORATION 2 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws and “forward-looking information” within the meaning of applicable Australian securities 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,” “target,” “indicative,” “pending,” “preliminary,” “proposed” or “potential.” Forward-looking statements may include, without limitation, statements relating to (i) the pending transaction to acquire the share capital of Newcrest, the expected terms, timing and closing of the pending transaction, including receipt of required approvals and satisfaction of other customary closing conditions; (ii) estimates of future production, including expected annual production; (iii) estimates of future costs applicable to sales and all-in sustaining costs; (iv) estimates of future capital expenditures; (v) estimates of future cost reductions, synergies, including pre-tax synergies, savings and efficiencies, and future cash flow enhancements through portfolio optimization; (vi) expectations regarding future exploration and the development, growth and potential of Newmont’s and Newcrest’s operations, project pipeline and investments; (vii) expectations regarding future investments or divestitures, including anticipated divestitures over the next two years; (viii) expectations of future dividends and returns to shareholders; (ix) expectations of future balance sheet strength and credit ratings; (x) expectations of future equity and enterprise value; (xi) expected listing of common stock on the New York Stock Exchange, the Toronto Stock Exchange and the ASX; (xii) expectations of future plans and benefits; (xiii) expectations from the integration of Newcrest, including the combined company’s production capacity, asset quality and geographic spread. 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 Newmont’s and Newcrest’s 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 Newmont and Newcrest operate being consistent with its current expectations; (iv) certain exchange rate assumptions for the Australian dollar to the U.S. dollar, as well as other the exchange rates being approximately consistent with current levels; (v) certain price assumptions for gold, copper, silver, lead and oil; (vi) prices for key supplies being approximately consistent with current levels; (vii) the accuracy of current mineral reserve, mineral resource and mineralized material estimates; and (viii) other planning assumptions. Risks relating to forward looking statements in regard to the Company’s business and future performance may include, but are not limited to, gold and other metals price volatility, currency fluctuations, operational risks, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political risk, community relations, conflict resolution governmental regulation and judicial outcomes and other risks. In addition, material risks that could cause actual results to differ from forward-looking statements include: the inherent uncertainty associated with financial or other projections; the prompt and effective integration of Newmont’s and Newcrest’s businesses and the ability to achieve the anticipated synergies and value-creation contemplated by the pending transaction; the risk associated with Newmont’s and Newcrest’s ability to obtain the approval of the pending transaction by their shareholders required to consummate the pending transaction and the timing of the closing of the pending transaction, including the risk that the conditions to the pending transaction are not satisfied on a timely basis or at all and the failure of the pending transaction to close for any other reason; the risk that a consent or authorization that may be required for the pending transaction is not obtained or is obtained subject to conditions that are not anticipated; the outcome of any legal proceedings that may be instituted against the parties and others related to the Scheme Implementation Deed; unanticipated difficulties or expenditures relating to the pending transaction, the response of business partners and retention as a result of the announcement and pendency of the transaction; risks relating to the value of the Scheme Consideration to be issued in connection with the pending transaction; the anticipated size of the markets and continued demand for Newmont’s and Newcrest’s resources and the impact of competitive responses to the announcement of the transaction; and the diversion of management time on pending transaction-related issues. For a more detailed discussion of such risks and other factors, see Newmont’s Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC as well as the Company’s other SEC filings, available on the SEC website or www.newmont.com Newcrest’s most recent annual report for the fiscal year ended June 30, 2022 as well as Newcrest’s other filings made with Australian securities regulatory authorities and available on ASX (www.asx.com.au) or www.newcrest.com. Newmont is not affirming or adopting any statements or reports attributed to Newcrest (including prior mineral reserve and resource declaration) in this presentation or made by Newcrest outside of this presentation. Newcrest is not affirming or adopting any statements or reports attributed to Newmont (including prior mineral reserve and resource declaration) in this presentation or made by Newmont outside of this presentation. Newmont and Newcrest do not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this presentation, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors’ own risk.

MAY 2023 INVESTOR PRESENTATION – NEWMONT TO ACQUIRE NEWCREST NEW MONT CORP ORATION 3 ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT This presentation is not an offer to purchase or exchange nor a solicitation of an offer to sell securities of Newmont or Newcrest nor the solicitation of any vote or approval in any jurisdiction nor shall there be any such issuance or transfer of securities of Newmont or Newcrest in any jurisdiction in contravention of applicable law. This presentation is being made in respect of the transaction involving Newmont and Newcrest pursuant to the terms of a scheme implementation deed dated May 15, 2023 (the “Scheme Implementation Deed”) by and among Newmont, Newmont Overseas Holdings Pty Ltd, an Australian proprietary company limited by shares an indirect wholly owned subsidiary of Newmont and Newcrest and may be deemed to be soliciting material relating to the transaction. In furtherance of the pending transaction and subject to future developments, Newmont will file one or more proxy statements or other documents with the Securities and Exchange Commission (“SEC”). This presentation is not a substitute for any proxy statement, the Scheme Booklet or other document Newmont or Newcrest may file with the SEC and Australian regulators in connection with the pending transaction. INVESTORS AND SECURITY HOLDERS OF NEWMONT AND NEWCREST ARE URGED TO READ THE PROXY STATEMENT(S), SCHEME BOOKLET AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE TRANSACTION AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PENDING TRANSACTION AND THE PARTIES TO THE TRANSACTION. The definitive proxy statement will be mailed to Newmont stockholders. Investors and security holders may obtain a free copy of the proxy statements, the filings with the SEC that will be incorporated by reference into the proxy statement, the Scheme Booklet and other documents containing important information about the transaction and the parties to the transaction, filed by Newmont with the SEC at the SEC's website at www.sec.gov. The disclosure documents and other documents that are filed with the SEC by Newmont may also be obtained on www.newmont.com/investor-relations/default.aspx or by contacting Newmont’s Investor Relations department at Daniel.Horton@newmont.com or by calling 303-837-5484. PARTICIPANTS IN THE TRANSACTION SOLICITATION Newmont, Newcrest and certain of their respective directors and executive officers and other employees may be deemed to be participants in any solicitation of proxies from Newmont shareholders in respect of the pending transaction between Newmont and Newcrest. Information regarding Newmont’s directors and executive officers is available in its Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on February 23, 2023 and its proxy statement for its 2023 Annual Meeting of Stockholders, which was filed with the SEC on March 10, 2023. Information about Newcrest’s directors and executive officers is set forth in Newcrest’s latest annual report dated August 19, 2022 as updated from time to time via announcements made by Newcrest on the Australian Securities Exchange (“ASX”). Additional information regarding the interests of these participants in such proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in any proxy statement and other relevant materials to be filed with the SEC in connection with the pending transaction if and when they become available.

MAY 2023 INVESTOR PRESENTATION – NEWMONT TO ACQUIRE NEWCREST NEW MONT CORP ORATION 4 Industry’s Best Commodity Mix of Gold-Copper Assets STRATEGIC DRIVERS NEWCREST PORTFOLIO NEWMONT 2050 See endnotes re the proposed Newcrest transaction and definition of Tier 1 asset. Leading Portfolio of Tier 1 Assets & Projects World’s Most Favorable Mining Jurisdictions Copper Tier 1 Assets & Projects Australia & Canada Commodity Diversification Industry Consolidation Responsible Gold Leadership Core Capabilities Global Megatrends STRATEGIC SCENARIOS NEWCREST ACQUISITION UNDERPINNED BY CLEAR STRATEGY

Company Name: Newmont Corp Company Ticker: NEM US Equity Date: 2023-05-15 Page 2 of 16 The acquisition we announced yesterday is underpinned by a very clear and focused strategy, designed to ensure that the Newmont of today not only retains its leadership position in the gold industry but also strengthens its underlying foundations to deliver decades-long shareholder value. To give you an insight into the corporate strategy process we have fine-tuned over the last several years, let me walk you through the key inputs and outputs that together define our strategic vision, our key strategic drivers, and the potential execution pathways. We start by analyzing and understanding the key global mega-trends that impact on the world, our industry, and Newmont, specifically. These cover society, technology, and geopolitics. These mega-trends represent both individually and collectively, a very dynamic, complex, and unpredictable environment, one in which we currently operate and we'll be expected to succeed in over the long term. We then combine our view of these mega-trends with a comprehensive understanding of our core strengths, our unique capabilities, and also the potential gaps that we need to close in order to differentiate Newmont today and in the future. Our strategic drivers focus on three fundamental elements. First and foremost, building, maintaining, and strengthening our responsible gold leadership position through our culture, our performance, and our relationships. Second, identifying industry consolidation opportunities that play to our strengths and competitive advantages. And also, executable and value-accretive to our shareholders. Lastly, finding opportunities to diversify our commodity mix so that we continue to deliver to our shareholders the benefits of responsibly-produced gold today, together with an increasing future exposure to the world's key energy transition metal copper. Our decision to approach Newcrest earlier this year with the idea of a potential combination was grounded in these three key elements of our strategy. First, it presented an opportunity to achieve the best possible collection of tier-1 gold and copper assets in the industry under one umbrella and benefiting from Newmont's operating model, sustainability practices, and disciplined capital allocation process. Second, the addition of the Newcrest assets to the Newmont portfolio allows us to consolidate two world-class gold and copper mining districts in Australia and in Canada, unlocking compelling strategic, operational, and sustainability-driven synergies that are unique to this transaction. Lastly, the combination complements Newmont's existing copper production and project pipeline with world-class growth optionality. Connecting the external environment with internal capability is key to being able to devise and execute a successful strategy in general. The acquisition of Newcrest by Newmont announced yesterday executes on a clear strategy with robust planning and preparation. I'll now take you through the powerful value proposition of this transaction. Today, Newmont leads the gold industry in safety, sustainability, profitable production, and shareholder returns, differentiating ourselves in four key areas. First and foremost, our values-driven commitment to leading sustainability practices. Second, Newmont has created a global portfolio of world-class operations and projects. Third, these assets are managed through our integrated operating model with a proven track record of delivering value. And finally, we consistently apply a disciplined approach to capital allocation. FINAL Bloomberg Transcript

Company Name: Newmont Corp Company Ticker: NEM US Equity Date: 2023-05-15 Page 3 of 16 Our acquisition of Newcrest represents a powerful value proposition that will build upon those four key differentiators, strengthening our robust global platform to generate strong and resilient returns. Upon completion of the transaction, the combined business is expected to set the new sustainability standards, strengthening Newmont's position at the gold sector's industry leader; to create the industry's strongest portfolio of world-class gold and copper assets with 10 tier-1 operations and a tier-1 district in a highly prospective Golden Triangle of British Columbia; to deliver $500 million of annual synergies from G&A, supply chain, and full potential through our proven operating model; and to target over $2 billion in cash from portfolio optimization. We will continue to drive a disciplined, balanced approach to capital allocation, maintaining financial flexibility, whilst balancing steady reinvestment into our business and robust returns to shareholders through our industry-leading dividend framework. Today, I will talk through each of these differentiators, how they deliver value, and how Newcrest fits into our long-term strategy. At Newmont, we take pride in our heritage as a values-driven organization with a clear purpose, our core values of safety, sustainability, integrity, inclusion, and responsibility. They have been developed over a long period and through multiple generations of leaders. Together they are fundamental to how we run our business, where we choose to operate, and how we conduct ourselves on a daily basis. And we have learned that achieving our purpose requires a strong governance structure and our commitment to accountability and transparency. Building on Newcrest's well established sustainability credentials, Newmont will apply its proven sustainability leadership and practices to Newcrest operations by bringing a clear focus on mitigating safety risks along with visible, felt leadership in the field to drive a fatality-free business; by building on Newmont's sustainability leadership and commitment to meaningful social engagement based on inclusion, transparency, and integrity in order to be the partner of choice for governments, host communities, suppliers, and our workforce; by remaining committed to Newmont's leading environmental stewardship practices and climate goals; and by creating a diverse inclusive and equitable workplace, where everyone is welcomed; attracting and retaining the breadth of skills and talent needed to continuously improve performance. By aligning our purpose and values across the combined organization, we will be very well-positioned to safely and sustainably deliver on our commitments through the industry's best portfolio of top-tier operations in low-risk mining jurisdictions. A portfolio that produced approximately 8 million ounces of annual gold production, with 80% of this production coming from assets based in Australia and the Americas. And notably, more than 5 million ounces or two-thirds of this gold production coming from 10 large, long-life, low-cost tier-1 assets. Underpinning this portfolio is the world's largest gold reserve and resource base of 96 million ounces of gold reserves declared by Newmont and 52 million ounces declared by Newcrest, which when combined with a robust organic project pipeline provides a pathway to steady gold production and cash flow for many decades to come. FINAL Bloomberg Transcript

Company Name: Newmont Corp Company Ticker: NEM US Equity Date: 2023-05-15 Page 4 of 16 In addition to gold, the acquisition of Newcrest more than doubles Newmont's exposure to copper. The combined annual copper production will be approximately 350 million pounds, all coming from Australia and Canada. And 50 billion pounds of copper reserves and resources from Newcrest will be added to Newmont's existing 42 billion pounds, providing very significant exposure to this metal of critical importance to our world. As we've demonstrated following the acquisition of Goldcorp four years ago, we will focus on value over volume and look to optimize the new portfolio, targeting approximately $2 billion in cash over the next 24 months. As an important part of our due-diligence process over the last four weeks, we had key members of our executive team lead site visits. Dean Gehring led the visit to Brucejack and Red Chris in Canada, Aaron Puna to Lihir in Papua New Guinea, and Rob Atkinson to Cadia in Australia. Their insights were key inputs to developing our synergies and how we plan to integrate the Newcrest operations into our portfolio and operating model. Now let me briefly take you through how we plan to integrate these operations, starting with Australia. Newmont has a long history in Australia and a shared heritage with Newcrest, establishing our Australian subsidiary way back in 1966 that would become Newcrest some 25 years later. Today, Newmont and Newcrest are two of the top gold producers in Australia, with four operating mines, of which three are tier-1 assets. The combination of these four operations will leverage Newmont's existing, scalable operating model in Australia to combine both companies' leaders, subject matter experts, supply chains, and regional infrastructure to drive best-in-class performance. By bringing these four operations together into our consolidated Australian portfolio, we will create unprecedented economies of scale in one of the world's most favorable mining jurisdictions, creating efficiencies and value with a shared workforce, technical expertise, and large-scale supply chain optimization. Moving up to Papua New Guinea, Lihir is one of the world's great gold mines, a tier-1 operation by any measure. And in addition to Lihir, there is significant gold and copper growth in PNG through the world-class Wafi-Golpu project. We are committed to building and maintaining strong, proactive, mutually beneficial, and long-lasting relationships with the PNG government and local communities while supporting site and profitable operations. As part of this commitment, Newmont plans to establish PNG as a standalone fifth region in our portfolio, with an in-country senior leadership presence. Moving across to Canada, this transaction will also significantly strengthen Newmont's position in Canada. By combining the two existing Newcrest operations, Brucejack and Red Chris, with Newmont's Saddle North and Galore Creek projects, a tier-1 district in the highly prospective Golden Triangle region of British Columbia will be created, a district in which Newmont will be operating for decades to come. Similar to Australia, this combination in Canada will also leverage Newmont's existing regional operating model in North America to combine and optimize both companies' leaders, subject matter experts, supply chains, and regional infrastructure to drive best-in-class performance. Turning now to the synergies that we have identified from our due-diligence efforts. Over the last four weeks, in addition to the site visits that I mentioned previously, we have had over 120 subject matter experts working through a robust due-diligence exercise. As part FINAL Bloomberg Transcript

Company Name: Newmont Corp Company Ticker: NEM US Equity Date: 2023-05-15 Page 5 of 16 of this work and leaning into our proven track record of synergy delivery, our teams have identified $500 million in annual synergies that we will deliver from this acquisition. On top of the $100 million, we expect to realize from the G&A synergies of this combination, we estimate approximately $200 million in value from supply-chain optimization. This will come from applying best-in-class pricing and our existing strong partnerships with key suppliers, smelters, and equipment manufacturers to deliver -- to realize benefits from our increased economies of scale. We also expect to realize at least $200 million through the disciplined application of our proven Full Potential program which leverages Newmont's operating model and team of experienced leaders and subject matter experts to improve both productivity and costs. And similar to what we experienced from the Goldcorp acquisition four years ago, the biggest value drivers are expected to come from the two tier-1 operations in Cadia and Lihir. For example, at Cadia, we see the potential to increase average mill throughput from 33 million tons per year to 35 million tons by optimizing maintenance schedules and working to debottleneck the processing circuit. And similar to the improvements that we have made to the mill at Boddington over the last 10 years, Cadia has the potential to enhance the performance of the current equipment in the mill to push two and possibly beyond its nameplate capacity. At Lihir, we see the opportunity to take what is currently a short-term mine design and bring forward a more comprehensive and long-term mine plan to improve productivity. Through this approach, Lihir would be able to improve mining rates and reduce the amount of time spent rehandling material, ultimately leading to higher production at lower costs. Adding all of this up, we expect to realize estimated annual pre-tax synergies of $500 million within the first 24 months of closing this transaction. And we have had this estimate independently validated by a third party. Turning now to our capital allocation strategy. Our capital allocation priorities remain unchanged and will continue to be executed according to our clear and balanced strategy. First and foremost, to maintain the industry's strongest balance sheet. Second, to reinvest in our business through exploration and organic growth, staying disciplined as we focus on sustainably improving margins and advancing the combined portfolios' most profitable projects. And third, to return excess cash to shareholders through dividends. Newmont understands the importance of shareholder returns. Having returned over $4.5 billion to shareholders since the announcement of our dividend framework in October 2020 and having maintained a dividend yield above 3% for 10 consecutive quarters. I can confirm that following this acquisition, we remain firmly committed to our industry-leading dividend framework. And finally, I'll take a moment to cover some of the key aspects of this transaction. Our Board of Directors have approved a binding offer to acquire all outstanding Newcrest equity at an exchange ratio of 0.4 Newmont shares for each Newcrest share. Newcrest will fund and pay to its shareholders a special dividend of up to $1.10 per share. And the FINAL Bloomberg Transcript

Company Name: Newmont Corp Company Ticker: NEM US Equity Date: 2023-05-15 Page 6 of 16 Operator Q - Anita Soni A - Tom Palmer A - Aaron Puna agreement is subject to shareholder and relevant regulatory approvals, with the transaction expected to close in the fourth quarter of this year. So, in closing, we are very excited about this strategic transaction and the long-term value and optionality it will bring to both sets of shareholders and stakeholders. Through this powerful combination of high-quality gold and copper assets and projects, concentrated in low-risk jurisdictions, Newmont will be well-positioned to set the new standard for gold mining across the industry. We look forward to continuing our work with a talented and experienced team at Newcrest as we work together to begin this next chapter of our journey to create value and improve lives through responsible sustainable mining. Thank you for your time. And with that, I'll turn it over to the operator to open the line for questions. Questions And Answers Thank you. (Operator Instructions) Our first question today comes from Anita Soni from CIBC World Markets. Please go ahead. Your line is now open. {BIO 7539461 <GO>} Hi, good morning, Tom. So my first question, I was intrigued by your comments about Lihir. And so I think you qualified it as a tier-1 asset, and from my analysis, the costs push it into the tier-2 category. But your comments about material movements are something that I've noted. Could you just clarify what you're looking at? I'm assuming it's not moving the waste [ph] back in front of the face after they push it out of the way to mine it. Is that what you're referring to? {BIO 19152958 <GO>} Yeah, thanks, Anita, and good morning. I'll start and then pass to Aaron Puna if we can get Aaron on the line as well. Aaron was on the ground there and I think you've been to Lihir and probably he can paint that picture for you, but it was certainly about looking at how materials moved around that operation, how you think about the mine plan, and what's happening to re-handle. And thinking about a longer-term deal [ph] mine plans and what you might be able to do to more efficiently move that dirt around. I think there was also just some really fundamental basics around how you think about drill and blast and load and haul productivities that we're pretty confident with some of their full-potential techniques, focusing on the mine being the bottleneck that we can deliver some value and certainly have Lihir firmly in the tier-1 definition by anyone's measure. Aaron, if you are connecting in, he is in Ghana at the moment. Hopefully, the phone lines work. He can give you a bit of color from on the ground. FINAL Bloomberg Transcript

Company Name: Newmont Corp Company Ticker: NEM US Equity Date: 2023-05-15 Page 7 of 16 Q - Anita Soni A - Tom Palmer A - Aaron Puna Q - Anita Soni A - Tom Palmer Yes, thanks, Tom, and thanks, Anita, for the question. I think to add some further detail, as mentioned, our focus will center around the already proven Full Potential process where we maximize the capability and capacity of the mine value chain. Initial priority will be deconstraining the mine, focusing on short and medium-term planning, and planning for productivity. We think that by doing this we can make a significant shift in terms of the current load and haul fleet and moving more towards the industry benchmark, which ultimately will lead to a significant reduction in mining cost. {BIO 7539461 <GO>} Okay. So -- because you mentioned about material re-handle, can you clarify that? {BIO 19152958 <GO>} Aaron, do you want to pick that up in terms of what you saw on the ground, the double handling of material? Yes. Thanks, Anita. So in terms of re-handle what we say, Anita, is, inefficiencies in the short and medium-term planning processes that require material to be touched once, twice, or even three times before it reaches its final destination, we believe that -- and we can see an obvious pathway to better planning and making sure those medium-term placement horizons are clear that we can remove a lot of that re-handle. {BIO 7539461 <GO>} Okay. And then just I'll move to the second question, which is, in terms of the $2 billion of portfolio optimizations, I am assuming that means asset sales or is there something else in there within that portfolio optimization that we should be thinking about? And could you provide some color on what parameters you would put around assets that you might look to optimize? I understand you probably don't want to name things, but if you could just give us an idea of some of the criteria of what you would rationalize. {BIO 19152958 <GO>} Yeah, thanks, Anita. So when we think about portfolio optimization, it's certainly looking to rationalize the portfolio through divestments like we did four years ago with Goldcorp and Red Lake, Costa GM, [ph] and our share in Continental Gold. But it's also about how we look at our project pipeline of the two companies coming together and thinking about the sequence of projects and the order in which they take place. So we will go through a considered process both in terms of the portfolio on the asset base, but also the sequence of projects. Consistent with our capital allocation strategy, we certainly will, first and foremost, maintain the strength and flexibility of our balance sheet, but also have the appropriate amount of cash going towards reinvestment in the business. That's in terms of the cash draw towards that reinvestment, but also managing project execution risk. And then ensuring that we are generating appropriate quantities of free cash flow to be able to support industry-leading returns. So portfolio optimization has got project re-sequencing. That's work in front of us. FINAL Bloomberg Transcript

Company Name: Newmont Corp Company Ticker: NEM US Equity Date: 2023-05-15 Page 8 of 16 Q - Anita Soni A - Tom Palmer Operator Q - Josh Wolf son A - Tom Palmer And there's sort of embarrassment of riches in terms of that project pipeline and the sorts of opportunities we have to work our way through that. Then when I come back to the portfolio thinking about it at this way, our value over volume is our approach and the starting point for us is the 10 tier-1 assets that make up the very core of this business. And as I said in my remarks that makes up about two-thirds of production of the two companies, around about 5 -- bit over 5 million ounces. I would add on to that the tier-1 district of British Columbia and Golden Triangle. So really a pseudo or 11th tier-1 district. For us, that's the starting point. We may go through portfolio optimization, and that is our business going forward, those 11 tier-1 operations. But then we will build out from there. Where do we have operations that don't fit the tier-1 definition that we use, but we can see a pathway to getting there, given the exploration potential of some of the ore bodies that we sit on. We will then consider those coming into the portfolio and staying with us in the long term. We'd also look at assets that might never be a Tier-1 asset, but they are in great mining jurisdictions, they have very long-life, and there are great training grounds for future leaders in Newmont and there could be a real logic for them being in our business. And then there'll be assets that might not fit any of those definitions and we will then go through a disciplined rigorous process to then look at how we might rationalize our portfolio and realize full value for those assets. We are under no pressure to do it. We can easily accommodate Newcrest's five operations into our existing operating model, but we will go through a disciplined and rigorous process to review our portfolio, to optimize it, and realize that to be an at least $2 billion of cash over the next couple of years. {BIO 7539461 <GO>} Okay, I'll leave it there and let others ask questions. {BIO 19152958 <GO>} Thanks, Anita. Thank you. The next question comes from Josh Wolfson from RBC Capital Markets. Please go ahead, Josh. Your line is now open. {BIO 16515156 <GO>} Thanks very much. Tom, you mentioned pro forma production of roughly 8 million ounces. Are there any goalposts that we should be thinking about in terms of costs and capital spending steady state maybe after the synergies are factored in there? {BIO 19152958 <GO>} Yeah, good morning, Josh. Still early days for us to work our way through that process. A bit as I was explaining to, Anita, our exercise will start with the core of the portfolio, essentially, that if you are following that answer, the 11 tier-1 operations, we would understand what the capital requirements are to sustain that portfolio, what the cost profile looks from that and then build-out the decisions we make around other assets that we would have in our portfolio over the long term. And then looking at the sequence that FINAL Bloomberg Transcript

Company Name: Newmont Corp Company Ticker: NEM US Equity Date: 2023-05-15 Page 9 of 16 Q - Josh Wolf son A - Tom Palmer Q - Josh Wolf son A - Tom Palmer Q - Josh Wolf son we have for our organic projects and at what pace at which we bring those through and then what does that mean in terms of both gold production and copper production. And that will be an important part of the work that we will now start having reached a definitive agreement, now start working on as we move towards close. So -- both the operating portfolio and the project pipeline again are very important parts of our analysis. {BIO 16515156 <GO>} All right. Thank you. And then the presentation, the press release, it doesn't really mention the Lundin Gold equity stake or Ecuador. Is it safe to assume this is a non-core position pro forma? {BIO 19152958 <GO>} No, Josh, I wouldn't read into that. It's -- Fruta del Norte is a fantastic asset and Lundin are an excellent bunch of operators and so we would certainly see that being an important part of the wider portfolio and we'd certainly want to be working with the Lundin team to understand how we can continue to extract value from that, but it's a wonderful operation and it's very well run. {BIO 16515156 <GO>} Great. And if I can tuck in sort of one maybe higher-level question. The themes here certainly seems to be focusing on tier-1 assets and certainly scale being a big function of that. This is something probably longer term, but when you look at consolidation in the sector, which has been a big focus for Newmont and its peers, do you see there being other opportunities beyond Newcrest longer term? {BIO 19152958 <GO>} Yeah, thanks, Josh. I think when we did the -- as I tried to explain in my remarks, having clarity on your corporate strategy, company strategy, allows you to do very clearly drop out of that an M&A strategy in a consolidating market. And when we did our rate and rank, we used three filters. One is tier-1 operations open-pit underground anywhere in the world we believe that we can run them as well as anybody, if not better. Second one for us was consolidating in top-tier jurisdictions: USA, Canada, Australia are top of our list in terms of those low-risk jurisdictions. And the third one is the ability to get further exposure to copper and it comes with the long-life gold mines. So, we know, you get the copper with the gold metal in those ore bodies. When we then do the rate and rank in a consolidating industry, Newcrest was top of our list with Daylight to the next. And so then we start the process of relationship building to see what we might be able to do, so strategy, relationships, and an opportunity presents. So we're very fortunate to be able to navigate our way through that over the last few months and now we have a significant amount of work in front of us to close out this transaction to do the appropriate integration, to do the portfolio optimization and to deliver on the synergy commitments. And that will be our focus over the next period of time. {BIO 16515156 <GO>} FINAL Bloomberg Transcript

Company Name: Newmont Corp Company Ticker: NEM US Equity Date: 2023-05-15 Page 10 of 16 A - Tom Palmer Operator Q - Tanya Jakusconek A - Tom Palmer Q - Tanya Jakusconek A - Tom Palmer A - Aaron Puna Got it. Thank you very much. {BIO 19152958 <GO>} Thanks, Josh. Thank you. (Operator Instructions) Our next question comes from Tanya Jakusconek from Scotiabank. Please go ahead. Your line is now open. {BIO 1896120 <GO>} Great. Good morning, everyone. Thank you for taking my questions. Just wanted to come to the operating synergies, but before that, can I just confirm, Tom, with you that there are no financial or tax synergies that I should think about? {BIO 19152958 <GO>} Good morning, Tanya. No, we are very much focused on G&A, so the standard overheads, supply chain, and then what would deliver for cost and productivity improvements through Full Potential. {BIO 1896120 <GO>} Okay, so I'll take that as a no. So if I can then focus on the operating synergies and I just wanted to come back to Lihir. And Anita asked about the mining side of it, so I just wanted to ask on two other aspects of that operation that when I was there I thought could need some help. How do you feel about or do you see any synergies in the maintenance at that operation and anything in the processing facility? That's my first question on Lihir. {BIO 19152958 <GO>} Thanks, Tanya. And, Aaron, I'll get to you again having been on the ground and walk through those facilities. So I will get you to give the firsthand views of the opportunities we see in the maintenance and the processing side, and maybe pick up maintenance, Aaron, on both mobile equipment and fixed plant. Yes, thanks, Tom. Thanks, Tanya. I think just in terms of synergies, it's worthwhile identifying the three main areas of which we underpinned a lot of the synergy. The first is leveraging global economies of scale, particularly with strategic suppliers and equipment manufacturers. I think it's fairly clear that we share a lot of the same OEMs and suppliers particularly, Lihir. We then look at consolidated regions and districts which is optimizing working capital and inventory. And then lastly, operational collaboration where we can improve materials and service management. So when we get specific to Lihir with maintenance, we can see, particularly with the operating fleet, a lot of corrosion from the ocean from the salt. We've got strong relationships with the OEMs that provide equipment already in Newmont and the same FINAL Bloomberg Transcript

Company Name: Newmont Corp Company Ticker: NEM US Equity Date: 2023-05-15 Page 11 of 16 Q - Tanya Jakusconek A - Aaron Puna Q - Tanya Jakusconek A - Tom Palmer A - Dean Gehring OEMs with Newcrest. So we do see in initial investigations with those OEMs quite a lot of potential sharing, not only of maintenance practices but inventories within the Australia, Papua New Guinea region. And then the same with the processing facilities and I think touching on when -- once we debottleneck the mine, we start to see that constraint shifting to processing. So a lot of work to be done, but unlocking those potential services with the OEMs and suppliers will be a key catalyst for how we materialize more value. {BIO 1896120 <GO>} And can I ask about, when you look at the life-of-mine plans at that operation and I know that there is in the life-of-mine plan as seepage barrier that needs to be put in and I don't know when -- I forgot when that is '27, '28 I forget. How do you feel about that seepage barrier coming in? I know because there is access to couple of million ounces of reserves that need that seepage barrier to be put in, how did you view those life-of-mine plans with that seepage barrier? Yes, thanks again. So with the seepage barrier, the work has already commenced to establish the nearshore barrier. We're expecting that -- investigating that plan. We actually think that plan is pretty robust in terms of design. Obviously, the execution will follow a very similar path. In regards to the reserves and resource, I think we've got to do a little bit more investigation on the certainty of being able to extract those resources. There is obviously some challenges with understanding what happens with the ocean, what happens with the nearshore barrier, and how that actually performs. We've got time looking at the sequence, particularly the carpet [ph] pit as to when we would need to start pushing towards the ocean. So I think it's really a matter of looking at the effectiveness of the nearshore barrier and being confident that what we put into reserve we can extract. {BIO 1896120 <GO>} Okay, thank you. And if I could just get one other one in. I didn't hear any operating synergies or other at the Golden Triangle area. Is there any synergies to come from there, or maybe some capital sharing, any insights on that would be helpful? {BIO 19152958 <GO>} Yeah, thanks, Tanya. We certainly see the driver from -- of the synergies from Full Potential. It will be those two bigger assets in Cadia and Lihir, but Dean Gehring is also on the line. And Dean, again, I'll get you to comment on what you saw across both Red Chris and Brucejack. Certainly, Tanya, there are opportunities across both those operations underneath our Full Potential program, but, Dean, if I can get you to comment for Tanya. {BIO 18915817 <GO>} Yeah. Sure, Tom. And, Tanya, as I know you're well aware, the two sites, while they are close in air miles, it still takes three-ish hours or something to transport back and forth. There are some examples of equipment sharing, but there's just not a lot of opportunities for that. I think where the biggest opportunities will come is really on the commercial side, similar to what Aaron mentioned before about Lihir. Certainly, as it relates to Full Potential, I think there's still a lot more than we can lean in on there. But I would also just say, as Tom mentioned earlier, really to keep our eye on that full district FINAL Bloomberg Transcript