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

DENVER — 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.

• 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

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.

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.²Sustainable 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.

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.²Maintaining 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.

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.

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.

were 1,211 thousand ounces for the quarter.

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.

increased 57 percent to 11 million ounces,

increased 22 percent to 22 thousand tonnes and

increased 68 percent to 67 thousand tonnes compared to the prior quarter, driven by higher co-product grades at Peñasquito.

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.

allocated to gold totaled $1.8 billion for the quarter, with an additional $389 million allocated to co-product metals.

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.

was $1,449.

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.

was $1,963.

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.

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.

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.

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.

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

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.

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.

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.

attributable gold production increased 5 percent to 251 thousand ounces, with a 5 percent decrease in CAS per ounce to $1,392 per ounce.

AISC per ounce decreased 2 percent from the prior quarter to $1,760 per ounce.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.