NEWMONT Corp DE

(2)Refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A.

(1)Attributable gold ounces produced includes 49 thousand ounces and 54 thousand ounces for the three months ended March 31, 2025 and 2024, respectively, related to the Pueblo Viejo mine, which is 40% owned by Newmont and accounted for as an equity method investment. Attributable gold ounces produced also includes 43 thousand ounces and 21 thousand ounces for the three months ended March 31, 2025 and 2024, respectively, related to the Fruta del Norte mine, which is wholly owned by Lundin Gold Inc., in which the Company holds 32% interest, and is accounted for as an equity method investment on a quarter lag.

(2)Attributable gold ounces sold excludes ounces related to the Pueblo Viejo mine and the Fruta del Norte mine.

(3)Gold equivalent ounces are calculated as pounds or ounces produced or sold multiplied by the ratio of the other metals’ price to the gold price. In 2025, the Company updated the metal prices utilized for this calculation to align with reserve metal price assumptions. This resulted in fewer calculated gold equivalent ounces - other metals produced and sold of 78 thousand ounces and 82 thousand ounces, respectively, than would have been calculated based on the pricing used in 2024 for this calculation. Refer to Results of Consolidated Operations within Part I, Item 2, MD&A for further information.

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

(5)Refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A.

First Quarter 2025 Highlights(dollars in millions, except per share, per ounce, per pound and per tonne amounts, unless otherwise noted)

•Net income: Reported Net income (loss) from continuing operations attributable to Newmont stockholders of $1,891 or $1.68 per diluted share, an increase of $1,725 from the prior-year quarter primarily due to (i) an increase in Sales resulting from higher average realized gold prices, (ii) a net gain recognized within(Gain) loss on sale of assets held for sale largely resulting from the completion of the sales of the CC&V, Musselwhite, and Éléonore reportable segments compared to a loss in the prior period as a result of write-downs on assets held for sale, and (iii) an increase in unrealized gains on the change in fair value of investments and options. This increase was partially offset by the increase in income tax expense recognized within Income and mining tax benefit (expense).

•Adjusted net income: Reported Adjusted net income of $1,404 or $1.25 per diluted share, an increase of $0.70 per diluted share from the prior-year quarter (refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A).

•Adjusted EBITDA: Reported $2,629 in Adjusted EBITDA, an increase of 55% from the prior-year quarter (refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A).

•Cash flow: Reported Net cash provided by (used in) operating activities of $2,031, an increase of 162% from the prior year, and Free cash flow of $1,205 (refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A).

•Portfolio Updates: Completed the sale of the CC&V, Musselwhite, and Éléonore reportable segments for total proceeds of $1,860. In April, completed the sales of the Akyem and Porcupine reportable segments for total pre-tax cash proceeds of $1,088, net of working capital adjustments.

•Attributable production: Produced 1.5 million attributable ounces of gold and 348 thousand attributable gold equivalent ounces from co-products (35 thousand tonnes of copper, 6 million ounces of silver, 22 thousand tonnes of lead, and 59 thousand tonnes of zinc).

•Financial strength: Ended the quarter with $4.7 billion of consolidated cash, cash of $67 included in Assets held for sale, $8.8 billion of total liquidity, and Net debt of $3.2 billion (refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A); redeemed $985 of senior notes; settled $348 of share repurchases from the $2 billion share repurchase program. In April, declared a dividend of $0.25 per share.