NEWMONT Corp /DE/

Newmont has developed gold equivalent ounce ("GEO") metrics to provide a comparable basis for analysis and understanding of our operations and performance related to copper, silver, lead, and zinc. 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, using the metal prices in the table below:

(1)Effective January 1, 2026, the Company updated the metal prices utilized for the GEO calculation ("GEO price change"). The update to GEO pricing will have an impact on the calculated gold equivalent ounces and will result in an impact to costs allocated to the respective GEOs, particularly resulting in higher costs allocated to gold. Utilizing the updated 2026 pricing resulted in 102 thousand and 292 thousand fewer calculated "gold equivalent ounces - other metals" produced for the three and nine months ended September 30, 2026, respectively and 96 thousand and 288 thousand fewer calculated "gold equivalent ounces - other metals" sold, respectively, than would have been calculated using the 2025 pricing.

(2)All-in sustaining costs is a non-GAAP financial measure. Refer to Non-GAAP Financial Measures, below.

(3)In April 2026, seismic activity was recorded near the Cadia operation in New South Wales, Australia, resulting in the temporary suspension of underground mining activities (the "Cadia seismic event"). Surface operations and processing of existing stockpiles continued following the event until mid-May 2026 when stockpile inventories were substantially depleted. Underground mining and processing resumed in mid-June on a progressive ramp-up, with production returning to pre-event levels in the third quarter of 2026. Production and cost metrics were impacted by the operational stoppage. Incremental and non-productive direct operating costs incurred during the temporary suspension of underground mining activities have been recorded in Other expense, net. For additional information on seismic activity risk, refer to the Company's Form 10-K for the fiscal year ended December 31, 2025 under Part I, Business; Item 1A, Risk Factors, including "Our Company and the mining industry are facing continued geotechnical, geothermal, and hydrogeological challenges, which could adversely impact our production and profitability."

(4)In October 2025, the Company declared commercial production at its Ahafo North project in Ghana resulting in classification as a reportable segment. As such, the comparative results of operations information is not meaningful. Refer to Note 4 to the Condensed Consolidated Financial Statements for further information.

(5)All-in sustaining costs and Depreciation and amortization include expenses for Corporate and Other.

(6)For the three months ended September 30, 2026 and 2025, Cadia produced 28 million and 46 million pounds of copper, respectively.

(7)For the three months ended September 30, 2026 and 2025, Boddington produced 10 million and 12 million pounds of copper, respectively.

(8)For the three months ended September 30, 2026, Peñasquito produced 11 million ounces of silver, 49 million pounds of lead and 147 million pounds of zinc. For the three months ended September 30, 2025, Peñasquito produced 7 million ounces of silver, 57 million pounds of lead and 129 million pounds of zinc.

(9)For the three months ended September 30, 2026 and 2025, Red Chris produced 10 million and 14 million pounds of copper, respectively.

(10)Income and expenses of equity method investments are included in Equity income (loss) of affiliates. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.

(11)The Fruta del Norte mine is wholly owned and operated by Lundin Gold Inc. ("Lundin Gold"), in which Newmont holds a 32% interest, and is accounted for as an equity method investment on a quarter lag.

(2)All-in sustaining costs is a non-GAAP financial measure. Refer to Non-GAAP Financial Measures, below.

(3)Production and cost metrics were impacted by the operational stoppage during the second quarter of 2026 due to the Cadia seismic event.

(4)In October 2025, the Company declared commercial production at its Ahafo North project in Ghana resulting in classification as a reportable segment. As such, the comparative results of operations information is not meaningful. Refer to Note 4 to the Condensed Consolidated Financial Statements for further information.

(5)During the first quarter of 2025, mining and processing operations at the site were temporarily suspended due to safety events (the "Cerro Negro shutdowns"). Full operations resumed in April 2025.

(6)These sites were classified as held for sale beginning in the first quarter of 2024, and as such, the Company ceased recording depreciation and amortization in March 2024. At September 30, 2026, all operating sites previously classified as held for sale had been divested and as a result, the comparative results of these operations are not meaningful. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on the Company's divestitures.

(7)All-in sustaining costs and Depreciation and amortization include expenses for Corporate and Other.

(8)For the nine months ended September 30, 2026 and 2025, Cadia produced 91 million and 142 million pounds of copper, respectively.

(9)For the nine months ended September 30, 2026 and 2025, Boddington produced 28 million and 43 million pounds of copper, respectively.

(10)For the nine months ended September 30, 2026, Peñasquito produced 27 million ounces of silver, 148 million pounds of lead and 373 million pounds of zinc. For the nine months ended September 30, 2025, Peñasquito produced 21 million ounces of silver, 165 million pounds of lead and 407 million pounds of zinc.

(11)For the nine months ended September 30, 2026 and 2025, Red Chris produced 35 million and 46 million pounds of copper, respectively.

(12)Income and expenses of equity method investments are included in Equity income (loss) of affiliates. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.

(13)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.

Three Months Ended September 30, 2026 Compared to 2025

Lihir, Papua New Guinea. Gold production was generally in line with the prior year. Costs applicable to sales per gold ounce increased 13% primarily due to higher inventory costs per unit from ore processed from stockpiles, higher contracted services costs, higher energy costs, and higher government royalties, partially offset by higher gold ounces sold. Depreciation and amortization per gold ounce decreased 11% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce increased 6% primarily due to higher costs applicable to sales per gold ounce, partially offset by lower sustaining capital spend.

Cadia, Australia. Gold and gold equivalent ounces - other metals production decreased 37% and 64%, respectively, primarily as a result of continuing impacts in the third quarter from the Cadia seismic event earlier in the year. Gold equivalent ounces - other metals production was further impacted by the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 25%. Costs applicable to sales per gold ounce and per gold equivalent ounce – other metals increased 86% and 99%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold, as a result of continuing impacts in the third quarter from the Cadia seismic event. Depreciation and amortization per gold ounce and per gold equivalent ounce - other metals increased 115% and 116%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold as a result of continuing impacts in the third quarter from the Cadia seismic event. All-in sustaining costs per gold ounce and per gold equivalent ounce - other metals increased 185% and 201%, respectively, primarily due to higher costs applicable to sales per gold and gold equivalent ounce - other metals and higher sustaining capital spend.

Tanami, Australia. Gold production decreased 19% primarily due to lower mill throughput and lower ore grade milled. Costs applicable to sales per gold ounce increased 22% primarily due to lower gold ounces sold, higher materials costs, and higher labor costs. Depreciation and amortization per gold ounce increased 30% primarily due to lower gold ounces sold. All-in sustaining costs per gold ounce increased 30% primarily due to higher costs applicable to sales per gold ounce.

Boddington, Australia. Gold production was generally in line with the prior year. Gold equivalent ounces – other metals production decreased 48% primarily due to the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 32%, as well as lower other metals produced of 16% as a result of lower ore grade milled and lower mill throughput. Costs applicable to sales per gold ounce were generally in line with the prior year. Costs applicable to salesper gold equivalent ounce – other metals increased 21% primarily due to lower gold equivalent ounces - other metals sold. Depreciation and amortization per gold ounce was generally in line with the prior year. Depreciation and amortization per gold equivalent ounce – other metals increased 14% primarily due to lower gold equivalent ounces - other metals sold. All-in sustaining costs per gold ounce were generally in line with the prior year. All-in sustaining costs per gold equivalent ounce – other metals increased 20% primarily due to higher costs applicable to sales per gold equivalent ounce - other metals.

Ahafo South, Ghana. Gold production decreased 28% primarily due to lower ore grade milled, partially offset by higher mill throughput. Costs applicable to sales per gold ounce increased 45% primarily due to lower gold ounces sold, a drawdown of stockpile inventory compared to a buildup in the prior year, higher government royalties, and higher energy costs. Depreciation and amortization per gold ounce increased 26% primarily due to lower gold ounces sold. All-in sustaining costs per gold ounce increased 47% primarily due to higher costs applicable to sales per gold ounce and higher sustaining capital spend. On December 31, 2025, the Revised Investment Agreement, under which Newmont previously operated in Ghana, expired. Additionally, during the first quarter of 2026, the

Parliament of Ghana made certain changes to its royalty regime. For more details, refer to the "Ghanaian Stability Agreement and Royalty" discussion in Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations above. The revised framework could result in higher operating costs at our Ghanaian operations, particularly in periods of higher gold prices.

Merian, Suriname. Gold production increased 40% primarily due to higher ore grade milled and a drawdown of in-circuit inventory compared to a buildup in the prior year, partially offset by lower mill throughput. Costs applicable to sales per gold ounce decreased 9% primarily due to higher gold ounces sold, partially offset by higher government royalties, lower buildup of stockpile inventory compared to the prior year, and higher energy costs. Depreciation and amortization per gold ounce decreased 29% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce decreased 12% primarily due to lower costs applicable to sales per gold ounce, partially offset by higher sustaining capital spend.

Cerro Negro, Argentina. Gold production decreased 19% primarily due to lower mill throughput and higher buildup of in-circuit inventory. Costs applicable to sales per gold ounce increased 13% primarily due to lower gold ounces sold. Depreciation and amortization per gold ounce was generally in line with the prior year. All-in sustaining costs per gold ounce increased 18% primarily due to higher costs applicable to sales per gold ounce.

Yanacocha, Peru. Gold production decreased 23% primarily due to lower leach pad production as a result of lower tonnes placed on the leach pads and lower leach grade. Costs applicable to sales per gold ounce increased 42% primarily due to lower gold ounces sold and lower buildup of leach pad inventory compared to the prior year. Depreciation and amortization per gold ounce was generally in line with the prior year. All-in sustaining costs per gold ounce increased 38% primarily due to higher costs applicable to sales per gold ounce.

Peñasquito, Mexico. Gold production decreased 48% primarily due to lower ore grade milled and lower mill recovery, both as a result of mine sequencing combined with higher organic carbon feed, partially offset by higher mill throughput. Gold equivalent ounces - other metals production was generally in line with the prior year. Costs applicable to salesper gold ounce increased 50% primarily due to lower gold ounces sold, partially offset by lower allocation of costs to gold as a result of lower gold ounces produced compared to the other gold equivalent ounces - other metals produced due to mine sequencing. Costs applicable to sales per gold equivalent ounce – other metals increased 42% primarily due to lower gold equivalent ounces - other metals sold, higher workers participation costs, and higher allocation of costs to other metals as a result of the mine sequencing impacts, partially offset by higher by-product credits. Depreciation and amortization per gold ounce increased 45% primarily due to lower gold ounces sold. Depreciation and amortization per gold equivalent ounce – other metals increased 36% primarily due to lower gold equivalent ounces - other metals sold. All-in sustaining costs per gold ounce increased 53% primarily due to higher costs applicable to sales per gold ounce. All-in sustaining costs per gold equivalent ounce – other metals increased 46% primarily due to higher costs applicable to sales per gold equivalent ounce - other metals, higher allocation of sustaining capital spend to the other metals as a result of the mine sequencing impacts, and higher reclamation costs.

Red Chris, Canada. Gold production decreased 40% primarily due to lower ore grade milled and lower mill recovery, partially offset by higher mill throughput. Gold equivalent ounces - other metals production decreased 59% primarily due to lower other metals produced of 30% as a result of lower ore grade milled, as well as the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 29%. Costs applicable to sales per gold ounce increased 73% primarily due to lower gold ounces sold. Costs applicable to sales per gold equivalent ounce – other metals increased 66% primarily due to lower gold equivalent ounces - other metals sold, partially offset by lower allocation of direct costs to gold equivalent ounces - other metals as a result of the GEO price change. Depreciation and amortization per gold ounce and per gold equivalent ounce – other metals increased 111% and 103%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold, respectively. All-in sustaining costs per gold ounce and per gold equivalent ounce – other metals increased 56% and 61%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold, respectively.

Brucejack, Canada. Gold production decreased 9% primarily due to lower ore grade milled, partially offset by higher mill throughput. Costs applicable to sales per gold ounce increased 13% primarily due to lower gold ounces sold, partially offset by a buildup of finished goods inventory compared to a drawdown in the prior year. Depreciation and amortization per gold ounce decreased 14% primarily due to lower depreciation rates as a result of lower underground ounces mined, partially offset by lower gold ounces sold. All-in sustaining costs per gold ounce increased 28% primarily due to higher costs applicable to sales per gold ounce and higher sustaining capital spend.

NGM, U.S. Attributable gold production was generally in line with the prior year. Costs applicable to sales per gold ounce increased 12% primarily due to higher third-party royalties at Carlin and Cortez and lower gold ounces sold at all NGM sites. Depreciation and amortization per gold ounce increased 15% primarily due to a drawdown of inventory in the current year at Carlin compared to a buildup in the prior year and lower gold ounces sold at all NGM sites. All-in sustaining costs per gold ounce increased 17% primarily due to higher costs applicable to sales per gold ounce and higher sustaining capital spend at all NGM sites.

Pueblo Viejo, Dominican Republic. Attributable gold production decreased 10% primarily due to lower ore grade milled, lower mill throughput, and lower mill recovery, partially offset by a drawdown of in-circuit inventory compared to a buildup in the prior year. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.

Fruta del Norte, Ecuador. Attributable gold production decreased 14% primarily due to lower ore grade milled, partially offset by higher mill throughput. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.

Nine Months Ended September 30, 2026 Compared to 2025

Lihir, Papua New Guinea. Gold production decreased 11% primarily due to lower ore grade milled. Costs applicable to sales per gold ounce increased 24% primarily due to lower gold ounces sold, higher inventory costs per unit from ore processed from stockpiles, and higher government royalties. Depreciation and amortization per gold ounce increased 10% primarily due to lower gold ounces sold. All-in sustaining costs per gold ounce increased 15% primarily due to higher costs applicable to sales per gold ounce, partially offset by lower sustaining capital spend.

Cadia, Australia. Gold and gold equivalent ounces - other metals production decreased 38% and 61%, respectively, primarily as a result of the Cadia seismic event. Gold equivalent ounces - other metals production was further impacted by the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 25%. Costs applicable to sales per gold ounce and per gold equivalent ounce - other metals increased 60% and 69%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold and inventory write-downs in the current year, both as a result of the Cadia seismic event. Depreciation and amortization per gold ounce and per gold equivalent ounce - other metals increased 72% and 72%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold as a result of the Cadia seismic event. All-in sustaining costs per gold ounce and per gold equivalent ounce - other metals increased 110% and 118%, respectively, primarily due to higher costs applicable to sales per gold and gold equivalent ounce - other metals and higher sustaining capital spend.

Tanami, Australia. Gold production decreased 6% primarily due to lower mill throughput. Costs applicable to sales per gold ounce increased 9% primarily due to lower gold ounces sold and higher third-party royalties. Depreciation and amortization per gold ounce increased 16% primarily due to higher depreciation rates as a result of asset additions and lower gold ounces sold. All-in sustaining costs per gold ounce increased 18% primarily due to higher sustaining capital spend and higher costs applicable to sales per gold ounce.

Boddington, Australia. Gold production was generally in line with the prior year. Gold equivalent ounces – other metals production decreased 60% primarily due to lower other metals produced of 33% as a result of lower ore grade milled and lower mill throughput, as well as the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 27%. Costs applicable to sales per gold ounce and per gold equivalent ounce – other metals increased 6% and 19%, respectively, primarily due to higher materials costs, higher contracted services costs, higher energy costs, and higher government royalties, partially offset by a higher buildup of stockpile inventory in the current year. Costs applicable to salesper gold equivalent ounce – other metals was further impacted by lower gold equivalent ounces - other metals sold. Depreciation and amortization per gold ounce increased 14% primarily due to higher allocation of costs to gold as a result of the GEO price change. Depreciation and amortization per gold equivalent ounce – other metals increased 17% primarily due to lower gold equivalent ounces - other metals sold, partially offset by lower allocation of costs to the other metals as a result of the GEO price change. All-in sustaining costs per gold ounce increased 10% primarily due to higher costs applicable to sales per gold ounce and higher allocation of sustaining capital spend to gold. All-in sustaining costs per gold equivalent ounce – other metals increased 17% primarily due to higher costs applicable to sales per gold equivalent ounce - other metals, partially offset by lower allocation of sustaining capital spend to the other metals.

Ahafo South, Ghana. Gold production decreased 39% primarily due to lower ore grade milled, partially offset by higher mill throughput. Costs applicable to sales per gold ounce increased 62% primarily due to lower gold ounces sold, higher government royalties, higher contracted services costs, and higher energy costs, partially offset by a buildup of stockpile inventory compared to a drawdown in the prior year. Depreciation and amortization per gold ounce increased 40% primarily due to lower gold ounces sold, partially offset by lower depreciation rates as a result of lower gold ounces mined. All-in sustaining costs per gold ounce increased 61% primarily due to higher costs applicable to sales per gold ounce.

Merian, Suriname. Gold production increased 41% primarily due to higher ore grade milled and a drawdown of in-circuit inventory compared to a buildup in the prior year, partially offset by lower mill throughput. Costs applicable to sales per gold ounce decreased 16% primarily due to higher gold ounces sold and a higher buildup of stockpile inventory compared to the prior year, partially offset by higher government royalties, higher materials cost, and higher energy costs. Depreciation and amortization per gold ounce decreased 27% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce decreased 15% primarily due to lower costs applicable to sales per gold ounce, partially offset by higher sustaining capital spend.

Cerro Negro, Argentina. Gold production increased 9% primarily due to higher mill throughput in the current year as a result of the Cerro Negro shutdowns in the prior year, partially offset by lower ore grade milled. Costs applicable to sales per gold ounce decreased 19% primarily due to higher by-product credits and higher gold ounces sold, partially offset by higher government royalties. Depreciation and amortization per gold ounce decreased 10% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce decreased 17% primarily due to lower costs applicable to sales per gold ounce and lower sustaining capital spend.

Yanacocha, Peru. Gold production was generally in line with the prior year. Costs applicable to sales per gold ounce increased 21% primarily due to higher workers' participation costs, lower buildup of leach pad inventory compared to the prior year, and higher third-party royalties, partially offset by higher by-product credits. Depreciation and amortization per gold ounce decreased

14% primarily due to a lower depreciable base as a result of certain assets being fully depreciated in the prior year, partially offset by the impact of the leach pad inventory drawdown and lower gold ounces sold. All-in sustaining costs per gold ounce increased 8% primarily due to higher costs applicable to sales per gold ounce.

Peñasquito, Mexico. Gold production decreased 62% primarily due to lower ore grade milled and lower mill recovery, both as a result of mine sequencing combined with higher organic carbon feed, partially offset by higher mill throughput. Gold equivalent ounces - other metals production decreased 21% primarily due to the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 27%, partially offset by higher other metals produced of 6% as a result of higher ore grade milled and higher mill throughput. Costs applicable to salesper gold ounce increased 74% primarily due to lower gold ounces sold and a drawdown of stockpile inventory in the current year compared to a buildup in the prior year, partially offset by lower allocation of costs to gold as a result of lower gold ounces produced compared to the other gold equivalent ounces - other metals produced due to mine sequencing. Costs applicable to sales per gold equivalent ounce – other metals increased 66% primarily due to lower gold equivalent ounces - other metals sold, higher allocation of costs to other metals as a result of the mine sequencing impacts, higher workers' participation costs, higher third-party and government royalties, and higher energy costs. Depreciation and amortization per gold ounce increased 46% primarily due to lower gold ounces sold, partially offset by lower allocation of costs to gold as a result of the mine sequencing impacts and lower depreciation rates as a result of lower gold ounces mined. Depreciation and amortization per gold equivalent ounces – other metals increased 40% primarily due to lower gold equivalent ounce - other metals sold and higher allocation of costs to gold equivalent ounces - other metals as a result of the mine sequencing impacts, partially offset by lower depreciation rates as a result of lower other metals mined. All-in sustaining costs per gold ounce increased 76% primarily due to higher costs applicable to sales per gold ounce, partially offset by lower treatment and refining costs and lower allocation of sustaining capital spend to gold as a result of the mine sequencing impacts. All-in sustaining costs per gold equivalent ounce – other metals increased 67% primarily due to higher costs applicable to sales per gold equivalent ounce - other metals, higher reclamation costs, and higher allocation of sustaining capital spend to the other metals as a result of the mine sequencing impacts, partially offset by lower treatment and refining costs.

Red Chris, Canada. Gold production decreased 27% primarily due to lower ore grade milled. Gold equivalent ounces - other metals production decreased 54% primarily due to the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 31%, as well as lower other metals produced of 23% as a result of lower ore grade milled. Costs applicable to sales per gold ounce increased 39% primarily due to lower gold ounces sold and higher allocation of direct costs to gold as a result of the GEO pricing change. Costs applicable to sales per gold equivalent ounce – other metals sold increased 45% primarily due to lower gold equivalent ounces - other metals sold, partially offset by lower allocation of direct costs to gold equivalent ounces - other metals as a result of the GEO price change. Depreciation and amortization per gold ounce increased 91% primarily due to a drawdown of stockpile inventory in the current year compared to a buildup in the prior year and lower gold ounces sold. Depreciation and amortization per gold equivalent ounce – other metals increased 96% primarily due to lower gold equivalent ounces - other metals sold. All-in sustaining costs per gold ounce increased 37% primarily due to higher costs applicable to sales per gold ounce. All-in sustaining costs per gold equivalent ounce – other metals increased 41% primarily due to higher costs applicable to sales per gold equivalent ounce - other metals, partially offset by lower sustaining capital spend and lower treatment and refining costs.

Brucejack, Canada. Gold production increased 8% primarily due to higher mill throughput and a drawdown of in-circuit inventory compared to a buildup in the prior year, partially offset by lower ore grade milled. Costs applicable to sales per gold ounce were generally in line with the prior year. Depreciation and amortization per gold ounce decreased 18% primarily due to higher gold ounces sold and lower mineral interest depreciation rates as a result of additional reserves declared as of December 31, 2025. All-in sustaining costs per gold ounce were generally in line with the prior year.

NGM, U.S. Attributable gold production was generally in line with the prior year. Costs applicable to sales per gold ounce were generally in line with the prior year. Depreciation and amortization per gold ounce increased 15% primarily due to a drawdown of inventory at Carlin compared to a buildup in the prior year and lower gold ounces sold at Cortez and Phoenix, partially offset by higher gold ounces sold at Carlin and Turquoise Ridge. All-in sustaining costs per gold ounce were generally in line with the prior year.

Pueblo Viejo, Dominican Republic. Attributable gold production was generally in line with the prior year. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.

Fruta del Norte, Ecuador. Attributable gold production decreased 9% primarily due to lower ore grade milled, partially offset by higher mill throughput. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.