Newmont (NEM) Investor presentation summary

First quarter 2026 performance highlights

• Achieved record quarterly free cash flow of $3.1B and adjusted net income of $2.90 per share, with $2.7B returned to shareholders through dividends and share repurchases.

• Attributable gold production reached 1.3Moz, with 30kt copper and 9Moz silver produced across the portfolio.

• Maintained 2026 all-in sustaining cost guidance, mitigating geopolitical and macroeconomic impacts.

• Repurchased $2.4B in shares and announced a new $6.0B share repurchase authorization.

• Received $321M in after-tax proceeds from contingency payments and asset sales.

Portfolio and operational updates

• Strong production growth driven by higher grades and throughput at Cadia, with major projects like Tanami Expansion 2 and Cadia Panel Caves progressing on schedule.

• Lihir production expected to normalize post-bushfires, with waste stripping campaigns advancing and Nearshore Barrier work commencing in H2.

• Ahafo North ramping up for its first full year of production, while Ahafo South and Merian focus on higher grades and mine life extension.

• Peñasquito and Yanacocha processing stockpiles, with higher grades anticipated in future periods.

• Red Chris advancing feasibility and permitting for block cave project; Brucejack and Cerro Negro targeting higher production through improved mining rates.

Financial performance and capital allocation

• Adjusted EBITDA reached $5.2B, with cash from operations at $3.8B and cash & equivalents totaling $8.8B.

• Gold all-in sustaining cost (AISC) was $1,029/oz, with an average realized gold price of $4,900/oz.

• Sustaining capital spend for 2026 targeted at $1.95B, with development capital at $1.4B and a net cash target of $1.0B.

• Quarterly dividend of $0.26/share declared, with a targeted annual payment of $1.1B, subject to board approval.

• New $6.0B share repurchase authorization approved, following $2.4B in repurchases since February 2026.