NEWMONT Corp /DE/

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

(1)The Fruta del Norte mine is wholly owned and operated by Lundin Gold, in which Newmont holds a 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. Utilizing the updated 2025 pricing resulted in fewer calculated gold equivalent ounces-other metals than would have using the 2024 pricing for ounces produced of 88 thousand and 166 thousand for the three and six months ended June 30, 2025, respectively, and ounces sold of 81 thousand and 163 thousand for the three and six months ended June 30, 2025, respectively. 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.

Second 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 $2,061 or $1.85 per diluted share, an increase of $1,223 from the prior-year quarter primarily due to (i) a net increase in Sales largely due to higher average realized gold prices, (ii) a net gain on completed divestments, compared to prior year losses from asset held for sale write-downs, recognized in(Gain) loss on sale of assets held for sale; and (iii) a net increase in Change in fair value of investments and options, including unrealized gains on marketable equity securities and the realized gain on the sale of Greatland shares. 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 $1,594 or $1.43 per diluted share, an increase of $0.71 per diluted share from the prior-year quarter (refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A).

•Adjusted EBITDA: Reported $2,997 in Adjusted EBITDA, an increase of 52% 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 $4,415 for the six months ended June 30, 2025, an increase of 103% from the prior year, and Free cash flow of $2,915 for the six months ended June 30, 2025 (refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A).

•Portfolio updates: Completed the sales of the Akyem and Porcupine reportable segments for total consideration of $1,513. Completed the sales of a portion of the Company's interest in Greatland Resources Limited and Discovery Silver Corp. for cash consideration of $274 and $89, respectively. In July, completed the sale of the remaining interest in Discovery Silver Corp. for approximately $140.

•ESG: Published the Annual Sustainability Report, providing a transparent view of ESG performance, and the Taxes and Royalties Contribution Report, providing an overview of the Company's tax strategy and economic contributions as part of its commitment to shared value creation.

•Attributable production: Produced 1.5 million attributable ounces of gold and 392 thousand attributable gold equivalent ounces from co-products (36 thousand tonnes of copper, 8 million ounces of silver, 27 thousand tonnes of lead, and 67 thousand tonnes of zinc).

•Financial strength: Ended the quarter with $6.2 billion of consolidated cash, $10.2 billion of total liquidity, and Net debt of $1.4 billion (refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A); redeemed $1,383 of senior notes and settled $1,359 of share repurchases from the $3 billion share repurchase program for the six months ended June 30, 2025. In July, declared a dividend of $0.25 per share, settled an additional $145 of share repurchases, and the Board of Directors authorized an additional $3 billion stock repurchase program.